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Scotiabank reports $2.5B second quarter profit, beats expectations

The bank’s loan loss provisions fell to $496 million compared with $1.85 billion a year ago

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Economy grew at 5.6% annual rate in first quarter of year, Statistics Canada says

The boost was aided by the loosening of public health restrictions

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Federal government launches loan program for Black-owned businesses

The launch comes months after the Liberals first laid out the plan last September

Desjardins buys Montreal boutique firm Hexavest

Terms of the deal, which is expected to close on Sept. 1, were not disclosed

  • By: IE Staff
  • May 31, 2021 May 31, 2021
  • 12:28
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Finance Department reports preliminary deficit of $314B for last fiscal year

The unprecedented figure was caused by an equally unprecedented economic shock

National Bank beat expectations with Q2 profit of $801 million

The bank's wealth management business earned $165 million, driven in part by fee-based revenues

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Government to reimburse self-employed workers who repaid CERB

Details of how to request the reimbursement have been released

iA Clarington aims for sleeker, cleaner product lineup

The investment management firm plans to double its assets in the next five years

TD Bank posts $3.7 billion in Q2 profit

The bank's strong results in Q2 reflect the underlying strength of its diversified businesses and improving economic conditions, said TD's CEO

Time for policymakers to focus on housing shortage: RBC

The bank supports recent measures to take pressure off Canada's housing market, said RBC's CEO

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Economic boost coming in the back half of 2021: CIBC

The bank beat analysts' expectations by earning $1.65 billion in Q2

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Access to capital, low trust in banks cited as barriers to Black entrepreneurs

Only one in three Black entrepreneurs said they have access to advisors they can trust

BoC digital currency would be greener than Bitcoin, deputy says

However, the central bank doesn't yet see a need to offer its own digital currency

New stress test may moderate housing market: BMO

The rule changes, effective June 1, could push buyers to seek more affordable homes

CIBC to introduce fixed administration fees for certain investment funds

The asset manager said a fixed fee will offer “greater predictability and transparency”

  • By: IE Staff
  • May 25, 2021 May 25, 2021
  • 14:37

U.S. proposes tax of at least 15% on global corporate profits

The proposed 15% is a floor, with further discussions encouraged to push the rate higher

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Environmentalists press Bank of Canada to be more active on climate change

The bank is working on issuing a federal green bond proposed in last month's federal budget

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U.S. businesses may have to report crypto assets to IRS

The Treasury Department issued a report Thursday that outlines proposals for new measures

CPPIB reports record return for latest fiscal year

The investment manager's assets neared half a trillion dollars at the end of its 2021 fiscal year

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CFA Institute adjusts focus in draft ESG disclosure standards

The draft released Wednesday differs from the architecture set out in the initial consultation paper

Merger of B.C. financial services, real estate regulators nears completion

The BCFSA will have a new structure and executive members

  • By: IE Staff
  • May 19, 2021 May 19, 2021
  • 14:37

Virtual meetings to continue post-pandemic in B.C.

After Covid-19, companies in B.C. will have the option to continue to hold meetings online

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JPMorgan elevates two women to run bank’s biggest division

The appointments suggest CEO Jamie Dimon could choose a woman to lead the company after he retires

  • By: Ken Sweet
  • May 18, 2021 May 18, 2021
  • 12:04

Fidelity launches saving, investing account for U.S. teenagers

The accounts will allow teens aged 13–17 to trade stocks and funds

Manulife names global head of growing private markets business

Christoph Schumacher will take on the new role in Boston

  • By: IE Staff
  • May 17, 2021 May 17, 2021
  • 11:11