Canada Orders Wealth One Bank Shareholders to Divest
Three of Wealth One Bank of Canada’s original investors reportedly received orders from Chrystia Freeland, Canada’s finance minister, to sell their holdings in the lender. Shenglin Xian, Morris Chen, and Yuansheng Ou Yang, the investors, allegedly received a request to…
RBC’s $10 billion deal for HSBC unit approved by Canada’s Competition Bureau
Royal Bank of Canada’s (RY.TO) (RBC) C$13.5 billion ($10 billion) deal to purchase HSBC’s (HSBA.L) domestic operation was deemed unlikely to harm competition by Canada’s Competition Bureau on Friday, paving the way for the nation’s largest bank to proceed with…
Posthaste: Bank of Canada may pause rate hikes when it sees this big data
The Bank of Canada will be attentively examining this data because it is the last significant economic data release before the interest rate announcement on September 6. The head of Canada and Mexico economics at Bank of America Merrill Lynch,…
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…
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…