National Newswatch

Unifor calls for national auto strategy, dedicated ministry to capture EV potential

Aug 11 2022 — Ian Bickis, The Canadian Press — TORONTO — Unifor is calling for a national auto strategy, and a dedicated federal government ministry to lead it, at a time of "significant and uncertain change" in the industry amid the transition to electric vehicles. The recommendations are contained in Unifor's new auto policy released Thursday, a day after Canada's largest private-sector union elected […]

TD Bank Group to acquire U.S. investment firm Cowen Inc. for US$1.3 billion

Aug 2 2022 — Ian Bickis, The Canadian Press — TORONTO — TD Bank Group is accelerating its international investment banking growth with a deal to buy New York-based Cowen Inc. for US$1.3 billion in cash. The bank said Tuesday that the deal will bolster its investment arm, TD Securities, by adding capabilities with global equity sales, trading and execution platforms as well as increased […]

Canadian banks facing higher regulatory scrunity as they look to close U.S. deals

Jun 27 2022 — Ian Bickis, The Canadian Press — TORONTO — Canadian banks looking to expand in the U.S. through acquisitions are facing increased scrutiny from regulators and politicians along with renewed attention on past disputes. Both TD Bank and BMO are working to close big deals there, TD with a US$13.4 billion deal for southeastern U.S.-focused First Horizon and BMO with a US$16.3 […]

Bank of Canada says economy can handle higher rates despite household debt risks

Jun 9 2022 — Ian Bickis, The Canadian Press — High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday. "We think the economy needs higher interest rates, and it can certainly handle higher interest rates," he told […]

BMO reports profit up as loan growth continues, expenses also creep higher

May 25 2022 — Ian Bickis, The Canadian Press — TORONTO — BMO Financial Group said Wednesday that loan growth remained strong in the second quarter as businesses kept investing and residential mortgages were up, but that it is also ramping up its risk assessments as economic pressures including inflation grow. Central banks have been responding to rising prices by raising interest rates, leading to […]