Live news: Ontario Premier Doug Ford announces reversal of Greenbelt land removals
IA Financial Corp. is cutting jobs in its capital markets business, ending its institutional activities including equity research.
“We are stopping all institutional operations within IA Capital Markets,” a spokesperson for the Canadian financial firm confirmed in response to inquiries from Bloomberg News. The distribution of the firm’s research will end immediately, according to a memo.
The company, based in Quebec City, said more than a dozen jobs were eliminated. It will focus on its other services, which include financial advice and asset management for individual investors.
“We are deeply committed to ensuring Canadian investors continue to have deep and broad access to the professional, independent (unbiased) financial advice and investment solutions that are the hallmark of IA Wealth,” spokesperson Pierre Picard said in an email.
Picard said the move was prompted by market conditions that have been “very challenging over the last two years with rising interest rates” as well as “challenging corporate deal flow volume.”
Bloomberg.com
Ontario Premier Doug Ford says he is reversing his plan to open the protected Greenbelt lands for housing development and won’t make any changes to the Greenbelt in the future.
While meeting with his caucus during a retreat this week in Niagara Falls, Ont., Ford says his caucus members shared with him what they have been hearing about the Greenbelt from people in their communities and he is listening.
Last year, the province took 7,400 acres of land in more than a dozen sections out of the Greenbelt to build 50,000 homes, citing the housing crisis, and Ford has faced large amounts of opposition to the plan since then.
Reports from the auditor general and integrity commissioner found
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