Canada Financial News

The heads of some of Canada’s biggest banks say they’re focusing on organic growth instead of heavily relying on acquisitions in the United States amidst the ongoing economic uncertainty.

Change is in the air in Canada’s investment landscape, according to the Canadian Imperial Bank of Commerce.

Ontario is preparing the largest energy procurement in its history, which will reshape its electrical grid for decades to come, but it’s also headed for a possible collision course with federal policies designed to phase out natural gas by 2035.

exports by MSMEs, said Bhupen Wakankar, Director Global Trade, Amazon India, on Wednesday at the launch of Exports Digest 2024 — the company’s annual coffee table book on e-commerce exports which provides insights into the scale of e-commerce exports from India through the Amazon Global Selling programme. Wakankar said MSME-penetration by Amazon is still less than 5% and largely untapped, which in itself shows the scope of export business from India. He also said that Amazon is on track to enable thousands of Indian businesses to surpass $13 billion in cumulative e-commerce exports from India by 2024-end. Amazon’s latest report showed that 1.50 lakh exporters have been part of the programme, cumulatively selling over 40 crore made-in-India products globally. Amazon said the programme has seen a growth of over 20% in the past year and Amazon Global Selling has over 200 sellers across India.

TORONTO — The group of authors in contention for this year’s $100,000 Giller Prize has been whittled down to 12, but one name is notably absent from the list: Bank of Nova Scotia.

Air Canada has offered to boost the pay of more than 5,000 pilots by about 30 per cent within the next three years, according to people familiar with the matter, as it seeks to prevent a strike.

The Bank of Canada cut interest rates for a third consecutive time by 25 basis points on Wednesday, leaving its benchmark lending rate at 4.25 per cent.

TORONTO — The Insurance Bureau of Canada says this summer saw a record number of insurance claims driven by four major weather events and natural disasters over the span of four weeks.

On Wednesday, the Bank of Canada cut its benchmark interest rate by 25 basis points for the third consecutive time, bringing it down to 4.25 per cent. Economists are predicting further interest rate cuts by the central bank for the remainder of the year and into 2025. Here’s what experts have to say about the impact of the cuts on Canada’s real estate markets:

Canadians have been resilient during the high interest rate regime of the past couple of years and have handled their mortgage debt “exceptionally well,” Royal Bank of Canada’s chief executive Dave McKay said on the same day the Bank of Canada announced a third consecutive 25-basis point rate cut.

Canada’s dismal economic productivity is a crisis, and the Trudeau government’s “solution” of creating a new federal working group to investigate its cause, announced recently by Treasury Board President Anita Anand, is a joke. That is the view, not just of Conservative MPs and libertarian columnists, but also of an iPolitics article Anand herself posted on social media to share the news she was creating this working group.

Blackstone Inc. has agreed to acquire AirTrunk in a deal valuing the Australian data centre operator at A$24 billion (US$16.1 billion), including debt and capital expenditure for committed projects.

The Bank of Canada lowered its key interest rate by 25 basis points on Wednesday and opened the door to bigger cuts if the economy slows more sharply in the months ahead.

EDMONTON — Canadian Western Bank says shareholders have overwhelmingly voted in favour of a sale of the company to National Bank of Canada.

The Bank of Canada cut its interest rate for the third consecutive time on Wednesday.

Here’s the Bank of Canada’s official statement for its rate decision:

In the past 18 months, there has been a big migration of investment dollars to money markets, guaranteed investment certificates and short-term bonds — five per cent yields will do that.

The Insurance Bureau of Canada says this summer saw a record number of insurance claims driven by four major weather events and natural disasters over the span of four weeks.

Canadian families are still strapped for cash even as inflation cools and interest rates start to trend lower, new polling released Wednesday suggests.

When Dana Saperstein quit her marketing job to spend six months hiking the Pacific Crest Trail, the then-31-year-old thought of it as a microretirement. “If I keep working myself to the bone until 60 years old, I might physically never be able" to hike the 2,650-mile Mexico-to-Canada trail, she said. Saperstein is among a small number of workers in their 20s and 30s borrowing years of freedom from their future selves to enjoy some of their retirement while they are still young.

₹4,000 crore. Canada Pension Plan Investment Board (CPPIB), the other final bidder, too had submitted a binding bid for the deal run by JP Morgan. Cube Highways will now be given exclusivity to close the deal for the portfolio of five road assets totalling 230 km.