Edition:
United Kingdom

Nichola Saminather

CIBC's push to speed up Canadian mortgage growth set to face hurdles

14 Jan 2020

TORONTO, Jan 14 Canadian Imperial Bank of Commerce's (CIBC) efforts to speed up mortgage growth following a pullback two years ago is expected to face hurdles as bigger rivals maintain their hold on the market, and record-high debt levels weigh on borrowers, analysts and investors said.

UPDATE 2-Canada's TMX Group says CEO to retire early, finds no evidence of misconduct

10 Jan 2020

Jan 10 TMX Group Ltd, the operator of the Toronto Stock Exchange, announced that Chief Executive Officer Lou Eccleston will retire early, and said an internal investigation had found no evidence of sexual misconduct at the company after he had been accused of harassment before he joined in 2014.

Canada's TD, CIBC say restructuring possible in 2020 as RBC, BMO say no more cuts

07 Jan 2020

TORONTO Toronto Dominion Bank and Canadian Imperial Bank of Commerce chief executives declined to rule out restructuring charges on Tuesday as Canadian banks turn to controlling costs to drive earnings growth in what is expected to be a tough year.

Canada cannabis patients boost Aurora edible sales as rivals target recreational market

18 Dec 2019

TORONTO Aurora Cannabis Inc this week became the first major Canadian company to sell edibles and vapes for medical use, a small base that nevertheless helps shore up margins and paves the way for sales in the much larger European medical market.

Pulled IPOs cap subdued year for Canadian deals, signal challenges ahead

13 Dec 2019

TORONTO The scrapping of a second Canadian IPO in as many months this week caps a year of declining activity, highlighting the challenges facing issuers as trade uncertainty and the growth of passive investing weigh on new offerings.

UPDATE 2-Canada raises capital buffer for banks to highest level as risks mount

10 Dec 2019

Dec 10 Canada's banking regulator on Tuesday raised the amount of capital lenders must hold to guard against risks including near-record household and corporate debt levels, as Moody's Investor Service highlighted high consumer leverage as a "persistent vulnerability."

Canada's CIBC profit miss sends shares to deepest daily dive in 10 years

09 Dec 2019

(This December 5 story corrects seventh paragraph to say income from U.S. business rose, not fell.)

WRAPUP 3-Canadian banks expect subdued 2020 after dismal quarter wipes $15 bln of value

05 Dec 2019

Dec 5 Canadian banks are bracing for another year of muted earnings growth after disappointing quarterly results erased about C$21 billion ($15 billion) from their market values in the past week and closed out the worst year for profit expansion since the financial crisis.

Royal Bank of Canada sees deals pickup in 2020 following sluggish quarter

04 Dec 2019

Royal Bank of Canada expects a pickup in deal-making in early fiscal 2020, its chief financial officer told Reuters on Wednesday after Canada's biggest bank unveiled disappointing quarterly earnings as investment banking fees dried up.

Quebec, Newfoundland & Labrador say they will not allow cannabis vape sales

04 Dec 2019

TORONTO The Canadian provinces of Quebec and Newfoundland and Labrador said on Wednesday they would not allow the sale of cannabis vapes, just weeks before the start of marijuana derivatives sales, as concerns linger about a possible connection between the vaping products and severe lung disease

World News