Category Archives: Banks
Chairman Powell: Fed is in no hurry to raise interest rates
WASHINGTON — Federal Reserve Chairman Jerome Powell told Congress on Wednesday that the central bank will not start raising interest rates until it believes its goals on maximum employment and inflation have been reached. Powell also warned that many w...
Ottawa should require banks to share race-related data on services: business groups
OTTAWA — Canadian banks should have to disclose data related to race, gender, income and neighbourhoods to ensure more equitable access to credit and loans, say organizations representing racialized and Indigenous business owners who want Ottawa to ste...
Government financial support pushes Canadian insolvencies to lowest level in 20 years
OTTAWA — Canadian insolvency filings hit a 20-year low last year as government financial support offset the shock and economic uncertainty caused by COVID-19. The Office of the Superintendent of Bankruptcy says there were 99,244 consumer bankruptcies a...
Government financial support pushes Canadian insolvencies to lowest level in 20 years
OTTAWA — Canadian insolvency filings hit a 20-year low last year as government financial support offset the shock and economic uncertainty caused by COVID-19. The Office of the Superintendent of Bankruptcy said Friday that there were 99,244 consumer ba...
Head of Chinese bank behind foreign building spree jailed
BEIJING — The former chairman of the main Chinese state bank behind Beijing's initiative to build railways and ports across dozens of Asian countries has been sentenced to life in prison on corruption charges, a court announced. Hu Huaibang was sentenc...
Head of Chinese bank behind foreign building spree jailed
BEIJING — The former chairman of the main Chinese state bank behind Beijing's initiative to build railways and ports across dozens of Asian countries has been sentenced to life in prison on corruption charges, a court announced. Hu Huaibang was sentenc...
Ehren Cory appointed as new Canada Infrastructure Bank CEO
The Canada Infrastructure Bank has appointed Ehren Cory as its new chief executive officer. Cory previously served as Infrastructure Ontario's president and chief executive and prior to that, was a partner at McKinsey and Company. The ministry of infra...
Markets concerns about contested U.S. election fading with Biden lead in polls
TORONTO — Stock market investors are breathing a little easier despite potentially facing higher taxes as the possibility of a contested U.S. presidential election appears to be fading, say investment experts. With nine days to go before election day, ...
Rona Ambrose to join Toronto-Dominion as deputy chairwoman of TD Securities
Toronto-Dominion says former Conservative interim leader Rona Ambrose is joining the bank this month as deputy chairwoman of TD Securities. The full-time position formalizes a strategic relationship developed through Ambrose's work on business developm...
Sponsors, WE Charity ‘mutually’ agree to part ways, WE says amid controversy
TORONTO — WE Charity says it has "mutually agreed" to suspend its partnerships after a flood of companies announced they were dropping their support for the embattled organization whose founders faced parliamentary hearings on Tuesday. "We regret that ...