Author: heraldresearch

CIBC to reveal plans to shuffle executives, cut 2,000 jobs when it reports earnings next week: report

CIBC to reveal plans to shuffle executives, cut 2,000 jobs when it reports earnings next week: report

Canadian Imperial Bank of Commerce is expected to make changes to its senior executive ranks and announce about 2,000 job cuts when it reports first-quarter earnings next week, the Globe and Mail reported on Friday.CIBC plans to move Christina Kramer, the head of personal and small-business banking, to a new role as head of technology……

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Trapped in a house they can barely afford, this Ontario couple needs to find ways to build up savings

Trapped in a house they can barely afford, this Ontario couple needs to find ways to build up savings

Situation: Middle-aged couple saddled with huge mortgage needs to accelerate pay down or enter retirement in debtSolution: Rent basement suite, raise savings and retire in the clearIn southern Ontario a couple we’ll call Brett, 48, and Ava, 46, have two children ages 15 and 12. Brett works for a large company in the electrical device……

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RBC hikes dividend after dealmaking division proves its worth again

RBC hikes dividend after dealmaking division proves its worth again

Canada’s biggest bank expects the federal government’s decision to tweak the floor of the mortgage stress test to have only a small effect on a housing market where a lack of supply remains a key issue.The Royal Bank of Canada’s head of personal and commercial banking Neil McLaughlin said Friday they see the announcement earlier……

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Canada’s shadow banks are now too big to ignore

Canada’s shadow banks are now too big to ignore

By Jeremy Kronick and Wendy WuIn Canada the financial services sector weathered the 2007-08 global “credit crunch” better than it did in many other developed countries. One argument for why, certainly in contrast to the U.S., was the smaller size of our “non-bank financial intermediation” (NBFI) sector, more commonly referred to as “shadow banking.” But……

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‘Critical’ propane shortage in Quebec forces companies to ration supplies

‘Critical’ propane shortage in Quebec forces companies to ration supplies

Propane shortages in Quebec sparked by rail blockades is forcing companies to ration supplies to hospitals, farms and buildings, according to local businesses. Jean-François Bergeron, general manager of Quebec City propane supplier Capital Propane, said the company is left with a seven-day propane supply, and it’s running out of solutions. “There are none, there are……

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Loblaw profit rises on booming e-commerce, but misses expectations

Loblaw profit rises on booming e-commerce, but misses expectations

An almost doubling in e-commerce revenue to more than $1 billion helped Loblaw Cos Ltd., the parent of Loblaws grocery chain and Shoppers Drug Mart, increase its 2019 profit over the previous year, but not enough to satisfy analysts.Stock in Canada’s largest retailer — with more than 1,050 grocery stores, 1,400 Shoppers Drug Mart and……

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Victoria is the only property market in Canada still flashing high vulnerability

Victoria is the only property market in Canada still flashing high vulnerability

Victoria is the only real estate market in the country still showing high vulnerability, but the overall risk of a housing crash in the country remains moderate, according to the Canada Mortgage and Housing Corporation.“The evidence of overvaluation remains low as housing prices remain close to the levels supported by housing market fundamentals,” Bob Dugan,……

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Prices at the Ontario Cannabis Store have decreased dramatically since legalization

Prices at the Ontario Cannabis Store have decreased dramatically since legalization

Prices of hundreds of cannabis products at Ontario’s provincially owned online retail store have decreased dramatically since legalization, a result of rising cannabis supply and a proliferation of product offerings from producers.“To date, more than 200 product price decreases have been made on dried cannabis, pre-rolls, oils and capsules as well as accessories,” the Ontario……

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Pension giant Caisse to sell one-third of its malls in Canada amid e-commerce hit

Pension giant Caisse to sell one-third of its malls in Canada amid e-commerce hit

Canada’s second-biggest pension manager is preparing to sell a third of the shopping centres it owns in its home market as e-commerce finally starts to bite the country’s brick-and-mortar retailers.Caisse de dépôt et placement du Québec, says it will look for an array of solutions for its 25 Canadian malls after their problems contributed to……

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OSC proposes mutual fund restrictions to protect seniors from large penalties

OSC proposes mutual fund restrictions to protect seniors from large penalties

Ontario’s capital markets watchdog is proposing new protections for seniors through restrictions on the sale of mutual funds that carry large penalties if cashed in early, a fee structure that is being banned outright in all other jurisdictions across the country.The new rules proposed by the Ontario Securities Commission would prohibit the sale of mutual……

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