A housing market downturn in Canada is among the biggest risks facing the financial system this year, the country’s financial regulator said on Thursday, adding it plans to review the existing home loan stress test and expand its application to …
Canada roped in banks to help cut funding to protesters against COVID-19 mandates this week, but the requested speed and broad scope of the measures leaves financial institutions to their own devices in enforcing most of them, industry-watchers said. Prime …
TORONTO – Canadian banks and insurers can resume dividend increases and share buybacks and raise executive compensation, the country’s financial regulator said on Thursday, lifting a moratorium it imposed in March 2020 and possibly paving the way for a boost …
OTTAWA – Canada’s ruling Liberal Party said on Wednesday that if re-elected it would raise corporate taxes on the most profitable banks and insurers to help pay for the cost of the COVID-19 recovery. The Liberals said they would hike …
TORONTO – Canada’s five biggest banks are mandating that employees working from their offices must be fully vaccinated against COVID-19 this fall, taking a firmer stance than some of their U.S. counterparts and some other Canadian companies. Royal Bank of …
TORONTO – Canadian municipalities reeling from a pandemic-driven hit to revenues are facing an added blow from surging liability insurance costs, forcing them to raise property taxes or even cut services for residents. The increase in premiums, about 20% to …
TORONTO — The three-month trial of a lawsuit against Toronto-Dominion Bank, in which the liquidators of the collapsed Antigua bank of former Texas financier Robert Allen Stanford are seeking $4.5 billion in damages, is expected to end on Wednesday. A …
TORONTO – Canada’s financial regulator said on Monday it could allow institutions to pay special non-recurring dividends under “exceptional circumstances,” even as it maintains a March moratorium on broader dividend increases and share buybacks. The Office of the Superintendent of …
Canadian hospitality businesses, already reeling from the downturn sparked by the coronavirus pandemic, are facing yet another existential threat as insurance companies spike premiums or exit the space, citing losses and the sector’s risks. Even before COVID-19, insurers globally were …
Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines in underlying earnings per share of between 10% …
