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,…
Gap In Financial Literacy Causes Disconnect In Managing Debt, Budget: Survey
According to a survey by the Chartered Professional Accountants of Canada, some Canadians might overestimate their capacity to manage their money and pay off their debt. 47% of respondents gave themselves an A or B for personal finance knowledge. However,…
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…