Canada Financial News

M&A in the Canadian RIA market remains robust thanks to a push from private equity. It may not be as hot as in America, but it’s not bad at all for the “Great White North,” said Shaun Hauser, CEO of Wellington-Altus Financial, a Canadian wealth management firm.

CALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday.

Canada’s biggest banks are more than twice as exposed to the fossil-fuel business as their European and United States counterparts, according to a report from climate-change think tank InfluenceMap.

The Bank of Canada held its key overnight interest rate at five per cent Wednesday, with governor Tiff Macklem declaring it’s “still too early” to consider lowering the policy rate.

Canadians don’t seem as reluctant to return to the office these days, but they still have some beefs about the way their on-site workspaces are set up.

The Bank of Canada held its benchmark lending rate at five per cent on Wednesday and gave little away in its official statement for when it might be ready to start cutting.

TORONTO — Royal Bank of Canada plans to ramp up its renewable energy funding, even as it also reported little progress on reducing the emissions intensity of its oil and gas financing.

says it has detected benzene, a chemical that causes cancer, in several popular, over-the-counter acne products including those from brands like Clearasil, ProActiv, Walmart and Clinique, among others.Valisure, an independent lab whose discovery of benzene in dry shampoo in 2022 prompted the American Food and Drug Administration (FDA) and Health Canada to issue recalls, reported that its “extensive testing” revealed the same carcinogen can form at high levels in benzoyl peroxide products used to treat acne, and that it found it in products from the brands it tested.Health Canada, the World Health Organization and FDA all state benzene can cause cancer.“High levels of benzene were not only detected inside BPO (benzoyl peroxide) products, but also in the air around incubated BPO products,” Valisure’s report stated, “showing that benzene can leak out of some product packages and pose a potential inhalation risk.”The report also stated that benzene can form “over 800 times” the FDA conditionally restricted concentration limit in products and that “the current evidence suggests that this problem applies broadly to BPO products currently on the market.”The lab detected the benzene levels it says raise concerns in 66 benzoyl peroxide-containing acne treatment products incubated at 50 C for 18 days.

Canada and the U.S. is set to spring ahead to daylight saving time (DST) this Sunday.

Canada Pension Plan Investment Board has eliminated about a dozen positions in its Greater China public equities team this week, representing close to 10 per cent of its Hong Kong staff, a person familiar with the matter said.

OTTAWA — The parliamentary budget officer is projecting inflation will return to the Bank of Canada’s two per cent target by the end of the year and the federal deficit will grow amid weakening economic conditions.

Canada’s fourth-quarter GDP numbers were published last week, and while the economy barely dodged the technical definition of a recession, the figures again painted an ugly picture of Canadians’ economic well-being. Adjusted for inflation, GDP barely budged in Q4. Add the effect of population growth, and real GDP per capita declined for the sixth consecutive quarter. Relative to Q3:2015, the last quarter before the Trudeau Liberals took power, it is up just 0.8 per cent, versus 15.4 per cent in the United States. That constitutes a shocking relative decline in Canadians’ standard of living.

Canada’s biggest pension funds have largely rebuffed recent pressure to pour more of their billions of investment dollars into their home market, but a new campaign backed by 90 business leaders including chief executives of some of the country’s biggest companies appears set to escalate the debate.

According to its full year 2023 results, operating profits for the investment arm dropped to £274m, down from £340m the previous year, while Legal & General Retirement Institutional, focused on defined benefit pensions across the UK, US, Canada and the Netherlands, enjoyed a 10% rise in profits, up to £886m from £807m. LGIM proposes open-ended property fund restructure to hybrid model L&G Retail and L&G Capital, focused on workplace savings and alternative assets, respectively, remained largely flat year-on-year. The group pointed to the «ongoing impact of higher interest rates» to...

Mint reported on 6 March. These road assets are expected to be brought under the IHCT.

Monterrey, Mexico Outside this city, 150 miles south of the Texas border and in the shadow of the Sierra de Santa Catarina, is a cactus-dotted field. If all goes well, this unassuming site will be home to Tesla’s Giga Mexico, which could become the world’s largest electric-vehicle factory. The project promises thousands of jobs and as much as $15 billion in investment from Tesla and its suppliers.

NOTE:The following article contains disturbing content. Please read at your own discretion.

A year before the transfer of serial killer and rapist Paul Bernardo to a medium-security prison in Quebec ignited a political firestorm, then-public safety minister Marco Mendicino’s office had been informed about plans for a similar move of another high-profile killer — Luka Magnotta — to the same institution.

TORONTO — Bitcoin briefly touched an all-time high Tuesday of more than US$69,000 before losing thousands of dollars of value within hours.

By Purvi Agarwal and Fergal Smith

Ewan McGregor's portrayal of a Russian count, banished to a hotel attic, comes alive in the trailer for the upcoming series 'A Gentleman in Moscow.' The eight-part adaptation of Amor Towles' novel promises a captivating narrative set against the backdrop of Russian history. Trailer, Plot