3 h. ago National Bank Beats on Capital Markets, Credit Provisions Rise

National Bank of Canada beat estimates on strength in its capital-markets and wealth-management businesses even as it put more money aside for possibly bad loans than expected.

Economics

4 h. ago National Bank reports $997M Q1 profit, up from $922M a year earlier

MONTREAL — National Bank of Canada reported a first-quarter profit of $997 million, up from $922 million a year earlier, helped by strength in its wealth management and financial markets operations. The Montreal-based bank said Wednesday the profit amounted to $2.78 per diluted share for the quarter ended Jan. 31, up from $2.59 per diluted […]

Society

5 h. ago National Bank tops expectations as revenue rises across the board

Bank earns higher profits in wealth management and financial markets

Society

4 d. ago Central bank has limited tools to mitigate trade war: Tiff Macklem

MISSISSAUGA, ONT. — Bank of Canada governor Tiff Macklem says the central bank doesn’t have a lot of tools in its toolbox to mitigate the devastating effects tariffs would have on the economy. In prepared remarks for a speech Friday, Macklem said if the U.S. imposes its threatened tariffs and Canada retaliates, Canadian economic growth […]

Economics

7 d. ago GameStop to sell off Canadian stores right after rebranding EB Games locations

GameStop has announced its intention to sell off its operations in Canada and France.The video game retail giant didn't provide any further details regarding the potential sale, simply noting it's part of a broader "evaluation of its international assets."It remains to be seen what company, if any, will be interested in acquiring GameStop Canada.GameStop as a whole has seen declining revenue over the past several years, largely due to a continued rise in digital games sales. While the company's fortunes temporarily improved amid the infamous 2021 short squeeze, it's otherwise struggled on the market.It's worth noting that Canada's original video games retailer was EB Games, which opened its first store in the country in Toronto in 1993. This Canadian division was actually the company's largest international outfit with 300 stores in May 2008, underscoring how significant the Canadian market has historically been.GameStop ultimately acquired EB Games in 2005 and, in 2021,&n...

Economics

8 d. ago Australian central bank cuts benchmark interest rate for the first time since October 2020

MELBOURNE, Australia (AP) — Australia’s central bank on Tuesday reduced its benchmark interest rate for the first time since October 2020 as the nation’s inflation cools. The Reserve Bank of Australia reduced the cash rate by a quarter percentage point from 4.35% to 4.1%. at its first board meeting for the year. The cut was […]

Other

9 d. ago Canadian who hid $420Gs from wife in Swiss bank dinged by tax court

Judge rules concealing funds from spouse wasn't grounds to hide foreign holdings from CRA

Economics