Canada’s Critical Infrastructure is an ‘Almost Certain’ Target for Cybercrime
Ransomware assaults are increasingly targeting Canadians, with organized cybercrime activity posing a danger to national security, the economy, and essential infrastructure, officials warn. According to research issued Monday by the Canadian Centre for Cyber Security, during the next two years,…
RBC warns of more job cuts after beating profit estimates; TD misses
Royal Bank of Canada (RBC) surpassed analysts’ expectations for third-quarter earnings on Thursday, thanks to cost cuts and higher interest rates but warned of more layoffs ahead as it deals with rising expenditures. The excellent results follow RBC CEO Dave…
TD Says It May Face Penalties Over Anti-Money Laundering Probe
In response to US authorities’ inquiries into its anti-money laundering compliance program, TD Bank Group (TD.TO) said on Thursday that it anticipates paying fines and receiving “non-monetary” penalties. The second-largest lender in Canada, TD, said as part of its quarterly…
Millennials set to face most economic pain in months ahead, RBC says
Rising interest rates would make millennials and younger Generation X individuals more vulnerable to losing their jobs should the economy experience a dramatic slowdown in the coming months. In the analysis issued on Wednesday, RBC economist Carrie Freestone stated that…
Coinbase to Halt USDT Trading in Canada Starting August 31st
Coinbase announced on August 17th that it would cease trading in Tether (USDT), Dai (DAI), and RAI stablecoins for Canadian users on August 31st. This action is in response to shifting regulatory requirements in Canada, where authorities have tightened their…
Canadian Fintech Investment Shrinks in the First Half of 2023
Startup valuations across the technological spectrum have been impacted as rising interest rates and concerns about an impending recession dampen investor enthusiasm, leading to a move away from risky projects that burn through cash quickly. According to information gathered by…
Easing inflation could help Canada’s Housing Shortage, Fraser says
Fraser acknowledged the housing situation as a “serious challenge” in an interview with Reuters but hinted at a possible solution on the horizon. The Housing Minister has underlined the government’s commitment to existing policies: “The solution to tackling difficulties with…
Despite job losses, wage growth in Canada remains strong.
The country unexpectedly lost 6,400 jobs in July, while unemployment rates went to 5.5%. Since the COVID-19 epidemic in 2020, July was the first month in which unemployment grew for three consecutive months. May and June witnessed a 0.2% increase,…
How “The Eras Tour” will impact the Canadian Economy
Taylor Swift took to Instagram on Thursday to reveal the long-awaited North American dates for her current tour, which includes six gigs at the Rogers Centre in Toronto, Canada, in November. Swift’s Impact in the US: The Eras Tour has…
Canada financial regulator: new capital guidelines for crypto assets
On Wednesday, Canada’s financial regulator proposed changes to its capital and liquidity approach to crypto assets, which can cause a risky environment in response to international banking standards. The Office of the Superintendent of Financial Institutions (OSFI) said procedures were…