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November 14, 2018 12:08 PM Loblaw Q3 profit down from a year ago as tax court ruling hits bottom line

Loblaw Companies Ltd. reported its third-quarter profit fell compared with a year ago as it was hit by a one-time charge related to a tax court ruling that it plans to appeal. The retailer says it earned a profit attributable to common shareholders of $106 million or 28 cents per share for the quarter ended Oct. 6. The quarter included a $367-million 4

November 8, 2018 7:29 PM Statcan’s plan to harvest private banking info on hold, pending investigation

OTTAWA — The country’s chief statistician says his agency’s controversial plan to harvest individuals’ banking information is on hold until the privacy commissioner completes an investigation into widespread concerns about the project. Statistics Canada recently caught nine financial institutions off-guard by asking them to share the private banking 11

November 8, 2018 4:40 PM CIBC among top brands used in North American phishing attacks, says security firm

The Canadian Imperial Bank of Commerce is one of the most commonly targeted brands used by cyberthieves in phishing attacks across North America, with a more than 600 per cent surge in fake email attempts in the third quarter, according to analysis by an email security firm. Vade Secure’s research shows that during that period CIBC was the lone Canadian 15

September 10, 2018 12:19 PM Mail disruptions possible by Sept. 26 if Canada Post workers approve strike mandate

“There is no limit as to how long they could hold these vacancies and use temporary employees to cover these positions,” the statement said. The urban offer would also reduce vacation time and eliminate pre-retirement leave for future employees, CUPW said. The union said another offer to rural carriers would not settle key issues including job security 25

August 30, 2018 5:45 PM TD Bank ends Q3 earning season with 12 per cent increase in profit

TD Bank Group wrapped up a bullish third-quarter earnings season for Canada’s biggest lenders on Thursday with a profit of nearly $3.11 billion, a 12 per cent increase from last year that was supported by growth at its U.S. business and a strong domestic economy. “While we continue to see pockets of market uncertainty stemming from the geopolitical climate 26

August 29, 2018 6:24 PM National Bank reports third-quarter profit up 10 per cent from year ago

National Bank chief executive Louis Vachon said it was “another quarter of excellent performance in each business segment thanks to sustained revenue growth and effective cost management.” The bank said its personal and commercial banking group earned $248 million in the third quarter, up from $235 million in the third quarter of 2017. The wealth management 18

August 28, 2018 5:03 PM Scotiabank and Bank of Montreal make advances in productivity push

“We spent over $3.1 billion on technology last year. The number this year will be even higher than that,” Scotiabank CEO Brian Porter said Tuesday in a YouTube video discussing earnings. “That’s really important — to digitize the bank, make it easier for our employees to service our customer base — and with that should come the benefit of lower costs 43

August 27, 2018 6:15 PM Aimia adds new president and chief strategy officer in wake of Aeroplan deal

MONTREAL—Aimia Inc. has named Nathaniel Felsher as president and chief strategy officer, less than a week after announcing a deal to sell its flagship Aeroplan loyalty program to a consortium led by Air Canada. Felsher, who joins Aimia from Deutsche Bank in New York, where he co-headed the firm's aviation corporate and investment banking group, will report 31

August 23, 2018 6:12 PM CIBC’s three-year streak of outpacing rivals on mortgages ends

Mortgage balances rose 2.5 per cent to $208.5 billion ($160 billion) in the fiscal third quarter from a year earlier, the Toronto-based bank said Thursday in announcing earnings that beat analysts’ estimates. That’s the slowest in more than four years and about one-fifth the pace of a year ago. The deceleration ends CIBC’s three-year streak of outpacing 23

August 21, 2018 3:01 PM Aimia accepts Air Canada’s sweetened $450M bid for Aeroplan

A group led by Air Canada agreed to buy Aimia Inc.’s Aeroplan for $450 million in cash, ending a takeover battle for one of Canada’s most popular loyalty programs. Air Canada and its banking partners sweetened their bid for Aeroplan, winning over Aimia’s board and an activist shareholder that was seeking a higher price. Air Canada initially made a $250 million 32