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May 9, 2018 5:18 PM Toyota reports improved quarterly profit

In a surprise move, the carmaker released results before the Tokyo markets closed Toyota will pursue growth with a strategy of seeing itself as a “mobility company,” not just an automaker, spending aggressively on research, according to the company. It is banking on artificial intelligence and networking technology, as in connected and self-driving vehicles 8

March 12, 2018 4:24 PM Canada’s household debt rises to $1.8 trillion, increasing risk to banking system

Canadians’ collective household debt has climbed to $1.8 trillion as an international financial group sounds an early warning that Canada’s domestic banking system is at risk from rising debt levels. Canadian consumers now owe $1.821 trillion including mortgages as of the fourth-quarter of 2017, marking a six per cent increase from a year earlier, says Equifax 26

February 28, 2018 7:49 PM Search for Phoenix replacement to be led by Treasury Board

Federal budget earmarks $16 million over two years to fund efforts to find a new pay system Treasury Board has been tasked with leading the search to find a replacement for the troubled Phoenix public service pay system — a move meant to separate the efforts to stabilize the troubled system from the job of replacing it. Treasury Board President Scott 29

February 28, 2018 7:26 PM Credit unions get OK from feds to offer 'banking' services

Rule would have forced credit unions to purge 'generic banking terms' from websites, marketing materials Credit unions across the country will once again be able to use the words "bank," "banker" and "banking" to describe what they do, thanks to a one-line entry buried on page 356 of the federal budget. Last June, the Office of the Superintendent of Financial 30

February 26, 2018 4:43 PM More evidence of fraud in Canadian mortgages, warns ratings agency S&P

S&P raised its economic risk rating for the Canadian banking sector by 1 point S&P Global Ratings says it expects more evidence of Canadian residential mortgage fraud could emerge amid high household debt and home prices. The ratings agency raised its economic risk rating for the Canadian banking sector to three from two on a 10-point scale. S&P said it believes 44

February 15, 2018 2:57 PM Home sales fall 14.5% from December to January, the lowest level in 3 years: CREA

The drop means home sales have reached their lowest level in three years despite being on par with the 10-year monthly average. Canadian home sales fell 14.5 per cent between December and January, marking the lowest sales level in three years as the housing market was hit last month by a double whammy of tighter mortgage rules and lending rate hikes 16

January 18, 2018 7:11 PM BMO financing deal with Canopy Growth marks policy shift for Canadian banks

Canopy Growth, Canada's largest licensed pot producer, announced the $175-million deal with BMO and GMP Securities on Wednesday. The Bank of Montreal’s participation in a major financing deal for licensed cannabis producer Canopy Growth marks a big policy shift for Canada’s biggest banks, which may be warming up to the cannabis sector. Canopy, Canada’s 30

January 17, 2018 6:49 PM Loblaw, CRA face off in court in $404-million dispute over tax avoidance allegations

The Canadian Revenue Agency alleges the grocery giant is using its Barbadian banking subsidiary in order to circumvent tax rules. Loblaw Companies Ltd. and the Canada Revenue Agency faced off in a Toronto court today, the latest in an ongoing battle involving allegations that the grocery giant’s Barbadian banking subsidiary was misused for tax avoidance 26

January 15, 2018 1:36 PM U.K. construction company Carillion’s collapse puts 43,000 jobs worldwide at risk

Carillion Plc filed for compulsory liquidation after failing in a last-ditch effort to shore up finances and get a government bailout. Carillion Plc, a U.K. construction company with government contracts in everything from hospitals to the HS2 high-speed rail project, filed for compulsory liquidation after failing in a last-ditch effort to shore up finances 28

December 5, 2017 12:59 PM Scotiabank offer to buy share of Chilean bank gets green light

TORONTO -- Scotiabank says its offer to buy a sizeable stake in a Chilean bank for $2.9 billion has been accepted. The Canadian bank says Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) agreed Tuesday to sell its 69.19 per cent stake in BBVA Chile and its interests in certain subsidiaries. Scotiabank (TSX:BNS) says it intends to merge BBVA Chile with its existing 29