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May 16, 2018 6:27 PM Canadian manufacturing sales point to growth in overall economy, analysts say

OTTAWA—Canadian manufacturing sales rose a better-than-expected 1.4 per cent in March, as weakness in motor vehicle sales was more than offset by gains in the metals and aerospace industries, Statistics Canada reported Wednesday. Economists had expected an increase of 1.2 per cent, according to Thomson Reuters Eikon. Sales rose to $57.1 billion in March 11

April 5, 2018 5:24 PM Houses became more affordable for 1st time in over 2 years, says RBC, but there's a catch

Rising Toronto house prices, higher interest rates, and new regulations will weigh on affordability Buying a house became more affordable in Canada for the first time in more than two years in the last quarter of 2017, according to a new report from the Royal Bank of Canada, but the relief for buyers will likely not last. RBC's overall housing affordability 20

April 3, 2018 4:41 PM Albertans would be hardest hit by interest rate hikes, Royal Bank says

Households in Alberta will feel the most pressure from rising interest rates, because residents in the province carry the highest debt loads in the country, according to a new report from the Royal Bank of Canada. Households in Alberta will feel the most pressure from rising interest rates because residents in the province carry the highest debt loads 18

March 23, 2018 7:24 PM CRA audits just 5 Canadians out of hundreds of RBC Panama Papers accounts

Tax agency says it has informed other countries of dozens of foreigners it found in files Two years after it took aim at hundreds of Royal Bank clients exposed in the Panama Papers leak, the Canada Revenue Agency has decided just five cases require an audit. That's because most of the offshore accounts it unearthed ended up belonging to foreigners, the CRA says. The revenue 75

February 26, 2018 7:33 PM The Star’s Tanya Talaga wins RBC Taylor Prize for ‘Seven Fallen Feathers’

The $30,000 prize was awarded Monday to Talaga, who wrote the non-fiction book that traces the lives and deaths of several teens in northern Ontario. Toronto Star writer Tanya Talaga has won the $30,000 RBC Taylor Prize for Seven Fallen Feathers: Racism, Death, and Hard Truths in a Northern City (House of Anansi Press). The book, which traces the lives 31

February 23, 2018 9:37 PM U.S. appeals court restores lawsuit naming RBC that alleges Libor interest rate manipulation

NEW YORK—A U.S. appeals court has ruled in favour of Charles Schwab Corp. and several of its mutual funds, giving new life to their lawsuits alleging 16 financial institutions including Royal Bank of Canada conspired to manipulate the benchmark Libor interest rate. The 2nd U.S. Circuit Court of Appeals in Manhattan disagreed with portions of a lower 27

February 23, 2018 9:20 PM TD Bank halts allowing customers to use credit cards to buy cryptocurrency

The decision follows moves by several U.S. banks The value of Bitcoin soared last year, trading for more than $20,000 per Bitcoin. (Benoit Tessier/Reuters) Toronto-Dominion Bank is halting the use of its credit cards to buy cryptocurrency as it conducts a review of the "evolving market." The recent decision follows moves by several U.S. banks to stop allowing 38

February 16, 2018 12:52 PM Air Canada revenue, adjusted earnings come in ahead of analyst estimates

The company’s adjusted net income was $61 million, or 22 cents per share for the quarter — ahead of analyst estimates of 14 cents per share, according to Thomson Reuters data. Air Canada’s fourth-quarter revenue and adjusted earnings came in ahead of analyst estimates, as the Montreal-based airline posted record-high annual revenue for 2017. Its adjusted 26

January 16, 2018 6:19 PM ‘My game feels good’: Canadian Mike Weir returns to PGA Tour after worldwide swing

The 47-year-old golfer will return to the PGA Tour for the first time since last year’s RBC Canadian Open. After spending the last year playing golf in such places as Italy, Morocco, Fiji, Australia, and South Africa, Canadian Mike Weir returns to the PGA Tour this week for the first time since last year’s RBC Canadian Open. Weir, of Brights Grove, Ont., is a past champion 22

January 9, 2018 4:18 PM RBC, BMO see initial writedowns, long-term earnings bump under Trump tax changes

The chief executives of Royal Bank and Bank of Montreal are expecting first-quarter writedowns due to U.S. President Donald Trump's tax changes, but also significant tax savings on future earnings. RBC CEO Dave McKay told a conference in Toronto today that he expects a writedown of $150 million US, plus or minus 10 or 15 per cent, in the fiscal first 39