Canada Financial News

30.06 / 13:05

COST Digital BAY Morningstar Banking headwinds just getting started, so hold off buying the Big Six

Canada is still in the early innings of a credit cycle that could weigh on the Big Six banks for the remainder of the year, according to analysts at the Bank of Nova Scotia.

30.06 / 13:05

COST Provident Booking Platform Enterprise acquires Financial Financeit acquires rival loan business Simply Group Financial

Financeit Canada Inc. is expanding its share of the Canadian home improvement financing market by acquiring rival Simply Group Financial.

30.06 / 13:05

UPS CEO Parke National A national crisis: Vehicle theft soared in 2022, led by Quebec and Ontario

TORONTO — Vehicle theft in multiple provinces surged last year, according to insurance industry group Equite Association.

30.06 / 13:05

COST UPS Target rate hikes interest rate hikes The case for ending the Bank of Canada's interest rate hikes now

The May consumer price index (CPI) rose 3.4 per cent year over year, which was a big drop from the 4.4 per cent year-over-year number in April, but that doesn’t tell the real story.

30.06 / 13:05

Progressive CEO National CPA Quebec, Ontario bodies sever ties with national organization

TORONTO — An apparent rift among the organizations representing chartered professional accountants in Canada became public when two provincial groups said they are severing ties with their national counterpart.

30.06 / 13:05

COST Provident MET PSP Investments posts 4.4% return despite 'challenging' markets

The Public Sector Pension Investment Board (PSP Investments) generated a net portfolio return of 4.4 per cent for the fiscal year that ended March 31 despite “challenging” markets, with officials crediting a combination of private market investments, international expansion and currency exposure.

30.06 / 13:05

Citi Forbes Deal NHL pension Ontario pension fund OMERS nears deal to invest in Toronto's NBA, NHL teams

Ontario Municipal Employees Retirement System is nearing a deal to buy 20 per cent of a holding company that owns a stake in Toronto’s professional hockey and basketball teams, according to people familiar with the matter.

30.06 / 13:05

Provident CEO Mackenzie Investments cuts jobs, including senior management, in shakeup by new CEO

Mackenzie Investments has cut about 50 jobs, including senior executive roles, as part of a restructuring by new chief executive Luke Gould, people familiar with the matter said.

30.06 / 13:05

UPS Waves MET Waters CEO Surf's up: Financier with famous name looks to make an offshore break

Monday, June 26, was an atypical start to the week for Lionel Conacher. The San Francisco Bay-area financier woke up early and immediately checked the ocean weather conditions, as per his normal routine, but he did not proceed to map out his day based upon when the optimal time to go surfing was.

30.06 / 10:57

Waves Waters Extreme Airlines COMPOSITE Ozon Canada wildfires: Smoke spreads across America; heat waves, health risks, air quality alerts, July 4 holiday flight schedules, all you need to know

The intense heat and dryness of the spring led to significant fuel accumulation in Canada's boreal forest, consisting of dry vegetation and dead branches. These fires produce dense smoke, emitting high levels of carbon monoxide. The climate impact is severe, as the boreal forest releases 10 to 20 times more carbon per unit area burned than other ecosystems. Since early May, hundreds of forest fires have generated approximately 600 million tons of carbon dioxide, equivalent to 88 percent of the country's total greenhouse gas emissions from all sources in 2021, as reported by the Copernicus Atmosphere Monitoring Service (CAMS).

30.06 / 10:55

economy stocks stock market Money stock markets Tech and energy stocks lift S&P/TSX composite, U.S. stock markets mixed

Canada’s main stock index posted modest gains Wednesday as strength in energy and technology, among other sectors, helped outweigh weakness in base metals, while U.S. markets were mixed.

30.06 / 10:55

economy stocks stock market Money TSX Toronto Stock Exchange S&P/TSX composite up almost 150 points Tuesday, U.S. stock markets also rise

Canada’s main stock index rose almost 150 points Tuesday amid broad-based gains after a new report showed inflation slowed in May, while U.S. markets also rose on economic optimism.

30.06 / 10:55

Aldi inflation food inflation Grocery prices Chasing the ‘Aldi effect’: Why it’s hard for discount grocers to break into Canada

A push to bring more competition into the Canadian grocery sector in the form of discount European brands such as Aldi and Lidl would face steep obstacles in Canada’s fragmented marketplace, experts say.

30.06 / 10:55

Canada housing Costs Homebuilding costs have surged 51% since the pandemic began

The cost of homebuilding in Canada has soared since the start of the COVID-19 pandemic, a new RBC report shows, just as the country is attempting to aggressively scale up housing supply amid a growing population.

30.06 / 10:55

Personal Finance Financial Young Canadians more frequent targets of financial fraud. How to protect yourself

Young Canadians are increasingly the targets of financial fraud, experts say, as the age group most comfortable with buying products online is likewise most exposed to risk.

30.06 / 10:55

Metro Loblaw 5 takeaways from the Competition Bureau’s study into Canada’s grocery sector

Canada’s competition watchdog released its much-awaited study into the country’s retail grocery market on Tuesday, painting a picture of a highly concentrated industry dominated by few players.

30.06 / 10:55

inflation Food Prices food inflation More competition can help keep ‘grocery prices in check,’ report argues

Governments must act to bring more grocers into the Canadian market, argues a new Competition Bureau report examining concentration in the sector.

30.06 / 10:55

Supply Chain Strike Strike at B.C. ports could do ‘major damage’ to Canadian economy, experts warn

“Major damage” to the economy — that’s how experts describe the potential impact of a looming strike among cargo loaders in British Columbia.

30.06 / 10:55

inflation interest rate Bank of Canada Statistics Canada set to release GDP report for April

A pair of key economic reports are due out Friday morning.

30.06 / 10:55

Immigration boost Record immigration numbers reinforce need to boost housing supply: economist

Statistics Canada says the country welcomed more than 145,000 immigrants during the first three months of the year.

29.06 / 21:51

business Blockchain regulation Fried “Sam Bankman-Fried really hurt the industry” — Anthony Scaramucci

During a panel at Collision 2023 in Toronto, Anthony Scaramucci, founder of Skybridge Capital and former White House communications director, stated that disgraced crypto executive Sam Bankman-Fried “really hurt the industry in the United States from a regulatory perspective." Scaramucci continued:

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