Canada Financial News

Apple on Friday reported yet another quarterly revenue record in India for the third quarter ending June 29, 2024, continuing the high pace of growth in the world’s second largest smartphone market where consumers are continuing to buy premium products. Apple chief executive officer Tim Cook told analysts in its third quarter earnings call that Apple has set “quarterly revenue records in more than two dozen countries and regions, including Canada, Mexico, France, Germany, the UK, India, Indonesia, the Philippines, and Thailand.” The bullish performance by the iPhone maker is when smartphone shipments in India fell 2% year-on-year in the June quarter as per market tracker Counterpoint Research which attributed the decline to the heatwave, seasonal slump, and a sequential slowdown in demand from the March quarter before.

government employee in the failed attempt to assassinate an American citizen on US soil last summer, an official said. «We continue to expect accountability from the government of India in relation to the alleged role of an Indian government employee in the failed attempt to assassinate a US citizen on US soil that occurred last summer,» State Department Deputy Spokesperson Vedant Patel told reporters at his daily news conference. «We continue to raise our concerns directly with the Indian government at senior levels,» he said. Patel, however, declined to comment on a news report alleging that Canadian authorities claim to have arrested five Indian nationals planning to target a Sikh separatist at a wedding ceremony.

Deutsche Bank and Royal Bank of Canada are preparing a US$4.5 billion debt package to help fund TowerBrook Capital and Clayton Dubilier & Rice’s planned purchase of R1 RCM Inc., according to people familiar with the matter.

The basement of Scott Saxberg’s childhood home in Winnipeg was emblematic of a mid-1970s’ household whose most senior member, Mervyn, played a ton of hockey, as did his two sons.

Being worth a million dollars used to be the exception, but for Canadian households it is now just average — though it isn’t quite as straightforward as it sounds. Data released by Statistics Canada in June showed that in the first quarter of 2024, average household net worth reached $1,009,483, an increase of about 2.5 per cent from a year ago and up nearly 28 per cent from the final quarter of 2019, the last full quarter before the pandemic. While total household wealth may be at a record, it isn’t the first time average wealth has passed the million-dollar threshold. For three quarters during the pandemic, when real estate values ballooned and savings rates soared, average household wealth also topped seven figures. Stock market gains have helped fuel the latest wave of wealth growth, contributing to inequality along the way.

This lyric comes to mind each time I get another piece of correspondence from the Canada Revenue Agency. My friends and family often joke that since I write a nationally syndicated tax column, where I occasionally highlight the trials and tribulations of ordinary taxpayers as they battle with the taxman, it makes me a target, which is why I seem to get audited by the CRA on a regular basis.

The Federal government’s move to rein in the entry of temporary residents to Canada could have more of an impact than we thought.

Some Canadians looking to break into the housing market are now able to get 30-year mortgages, a bid from the Liberal government to make owning a home feel more affordable.

The state of Uttar Pradesh is deceptively large. Working-age women (20-59 years) in the state—about 57 million in 2021—outnumber the entire population of countries like Canada, Australia, Malaysia, and South Korea. The state has more women aged 20-29 than the combined population of Norway, Finland and Denmark.

A father and son accused of planning a terrorist attack in Toronto had filmed a video of themselves holding weapons in front of the ISIS flag, sources told Global News.

U.S. auto safety regulators say they stand by a conclusion that more than 50 million air bag inflators are dangerous and should be recalled

PARIS—Harvard is known for producing American presidents, Nobel Prize winners and people who love to remind you that they went to Harvard. It’s not known for churning out the world’s greatest athletes. In fact, Harvard is about as much of a factory for American sports talent as the Sorbonne.

Jasper National Park in western Alberta.He says the picturesque Rocky Mountain tourist destination in Alberta is a “truly magical place” that has captivated travellers from Canada and abroad.The King expressed sympathy for those whose lives and livelihoods have been affected, particularly those who have lost property and were forced out.He thanked first responders, community volunteers and leaders who have stepped up to help and commended Canadians lending a hand.Federal officials have said about one-third of the buildings in the Jasper townsite were lost in the blaze, and that there was little firefighters could do to combat an inferno so big and powerful.About 25,000 people, including 5,000 town residents, were ordered to leave just over a week ago as the fast-moving flames approached.“These are dark times, but we greatly admire the strength and resilience of so many people to persevere and rebuild,” King Charles said in a written statement distributed through Rideau Hall.“The number of firefighters who have come from across the world to offer their services speaks not only to the sense of solidarity that exists within that professional community, but also the high regard in which Canada and Canadians are held around the world.”Royalty first came to visit the park in 1939, when King George VI and Queen Elizabeth, the Queen Mother, stayed at the Jasper Park Lodge’s Outlook Cabin.Their daughter, Queen Elizabeth II, stayed there with her husband, Prince Philip, in 2005.For the latest information on which areas in Alberta are under an evacuation alert or order due to a wildfire, visit the Alberta Emergency Alert website. For the latest information on the wildfire status and danger across the province, visit the Alberta

aurora borealis this week.The U.S.’s National Oceanic and Atmospheric Administration (NOAA), which tracks space weather events, is anticipating that the northern lights will be visible as far south as Oregon and the U.S. Midwest, putting Canada right in the path for a spectacular light show.The peak of the solar storm is expected to come Tuesday night.

Bank of Montreal’s stock was downgraded by an influential Bay Street analyst on concern the lender is building up credit losses at a faster pace than its U.S. peers.

Despite an outlier report released by the International Monetary Fund earlier this month that suggested Canada will be a leader in economic growth next year — which had many Liberal MPs crowing that their “economic plans are working” — the overwhelming view of most suggests otherwise, especially when it comes to productivity.

A Canadian graphite miner has moved its headquarters outside the country to attract new investment as the federal government raises the bar for certain foreign companies to buy into Canada’s critical minerals sector.

Automatic tax filing services have opened up to thousands of more Canadians as part of a national pilot project.

Canadians may have noticed the value of their dollar dwindling ever since the Bank of Canada’s latest interest rate cut last week.

Benefit payments for Canadian seniors are going up slightly in a scheduled increase as retirement is “becoming unaffordable” for many in the country.

equity markets to record highs in the current financial year. The benchmark Nifty 50 index has delivered 10.5% returns since 1 April, and has outperformed the equity indices of several countries, including China, Mexico, Brazil, France, Canada, South Korea, Australia, Germany, the UK and Hong Kong. The benchmark indices of these countries have delivered returns between -8.2% and 2.9%.