Canada Financial News

Eric Lamaze owed the plaintiffs more than $786,000.The case lasted 15 years and Lamaze had argued he couldn’t take part because he had terminal cancer – but another judge in the same case ruled the evidence Lamaze submitted to prove he was receiving treatment wasn’t “credible or reliable.”“I’ve carried the weight of this on my shoulders,” Karina Frederiks, the daughter of the plaintiffs, said while growing emotional, minutes after the Aug. 8 ruling.Her family’s stable, Iron Horse Farm, sued Lamaze in 2010, initially claiming he sold them three horses for show jumping who couldn’t perform as promised before narrowing the case down to two horses in question.Lamaze denied any wrongdoing in his defence statement.An Ontario judge ruled in the stable’s favour, noting Lamaze failed to appear in final proceedings.The lawsuit was one of many involving the Olympic equestrian gold medallist.

Despite recent interest rate cuts, the Canadian real estate market remained slow this summer.

being recalled in Canada over concerns the product could cause laceration injuries if water gets into the handles.Canada issued the recall on Friday, with Canadians being asked to return their DeWalt battery electric walk-behind mowers. Two self-propelled models and two push-type models are being recalled.A total of 9,630 units have been sold in Canada and approximately 16,000 in the U.S., where a recall is also underway.

Hedge funds, pensions and banks continued to lavish capital into exchange-traded funds that invest directly in Bitcoin, as more traditional investors embrace the asset class that US regulators begrudgingly helped push into the mainstream at the beginning of the year. Among the most well-known buyers that have emerged are hedge funds like Millennium Management, which held shares in at least five Bitcoin ETFs, according to a Bloomberg analysis of second-quarter filings with the US Securities and Exchange Commission. The firm, which has $68 billion in assets under management, trimmed its stakes in the ETFs significantly from the prior quarter but remained as the top holder for most of the funds, including BlackRock's iShares Bitcoin Trust.

Cryptocurrency exchange Bybit has registered as a virtual asset service provider (VASP) and card operator with the Financial Information Unit (FIU) in Argentina.

Taylor Sheridan. «Tulsa King» season 2 will focus on Dwight Manfredi's arrest by the ATF. «Tulsa King» season 2 cast features Sylvester Stallone, Andrea Savage, Max Casella, Martin Starr, Domenick Lombardozzi, Vincent Piazza, Jay Will, Garrett Hedlund, AC Peterson, Dana Delany, Tatiana Zappardino, Annabella Sciorra, Frank Grillo, and Neil McDonough.

Reports that Canadian Imperial Bank of Commerce is on an artificial intelligence hiring spree, seeking to fill 200 well-paying positions , is a hopeful signal that the job-cutting trend at Canadian banks is slowing. For much of 2023, they were “restructuring.” Toronto-Dominion Bank planned to reduce its workforce by three per cent, as did Bank of Nova Scotia. CIBC said it would trim its full-time workforce by five per cent. Royal Bank of Canada job cuts were about half that and over at Bank of Montreal, three per cent of its capital markets workforce was let go last summer.

The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows.

Canada Jetlines Ltd. has grounded all flights, temporarily ceasing operations amid a financial crisis at the carrier.

In the first half of 2024, seasoned buyers and investors drove detached home purchases in Canada’s priciest markets, including the Greater Toronto Area (GTA), Greater Vancouver Area (GVA), and Fraser Valley, while first-time buyers were sidelined by affordability issues, according to a Re/Max Canada report.

More debt-burdened Canadians think better days could be just around the corner after an interest rate cut and promising data boosted their outlook for the economy, a long-running survey of consumers suggests.

The developers of a long-delayed copper-nickel mining project in northeastern Minnesota have announced plans for a series of studies over the next year on potential ways to improve environmental safeguards and make the mine more cost- and energy-efficient

Air Canada pilots could go on strike within weeks, but both the union representing pilots and the airline say they are working to negotiate.

One of the biggest threats facing the financial services industry is the risk of identity theft, which is the unauthorized use of your information by third parties who attempt to collect personal information about you, such as your name, date of birth, address, social insurance number and other details, for criminal purposes.

National Bank of Canada’s co-head of U.S. fixed income sales and trading, Noel Heavey, has left the firm, according to people familiar with the matter.

Twenty-six financial firms agreed to pay about US$393 million in total fines after the U.S. Securities and Exchange Commission said they failed to keep their employees’ electronic communications, the latest fallout from the regulator’s so-called WhatsApp investigations.

Brides and florists are having sticker shock at the inflated prices of floral arrangements for weddings.

fake roof signs that have recently been reported in several cities.In a statement on Wednesday, the group said that there has been a rash of scams and cons involving fake taxis, mostly in Ontario, where a team of two people pretends to be a distressed passenger and taxi driver.The group said such incidents were reported by police in Toronto, Sarnia, Sudbury and Ottawa.“I wouldn’t call it on the rise, but it’s very prevalent,” said Canadian Taxi Association president Marc Andre Way in an interview with Global News.“It seems to be moving from one city to the other.”Way said the CTA suspects it might be the same group moving from city to city, but they’re not sure.The scam involves a fake passenger approaching a passerby and saying their taxi driver will not take cash, which Way said is a red flag.Drivers not only accept cash, but often prefer cash,” he said.The fraudster then offers to give cash to the targeted victim in exchange for using their debit or credit card.“The scammer posing as the taxi driver then swipes the card and steals the target’s Personal Identification Number (PIN), later to drain their bank account or fraudulently use their credit card,” the CTA said in its release.In Sarnia, at least 12 such incidents were reported last month, resulting in individual losses ranging from $980 to $9,900, according to police.The Ottawa Police Service also said in a statement on Monday that it has recently received several complaints concerning people being defrauded after offering assistance in paying with their personal credit or bank card for a taxi or Uber fare.The CTA said it has taken up the issue of the generic “Taxi” signs with Amazon, requesting the company in a letter to stop selling them online as they are

Canadians are managing to keep up with their mortgage payments in the face of higher interest rates, but a new Statistics Canada analysis suggests there are cracks forming on other kinds of debt.

Telecommunications firm Rogers Communications Inc. is abusing its market power following its blockbuster acquisition of Shaw Communications Inc., according to a complaint by a Canadian television company.

By Murtaza Haider and Stephen Moranis