Two brothers from Vancouver Island named as gunmen killed during botched bank robbery in Saanich, BC

Two brothers from Vancouver Island named as gunmen killed during botched bank robbery in Saanich, BC

Mathew (left) and Isaac Auchterlonie, 22-year-old brothers from Duncan, BC, have been identified by police as the two suspects shot dead in a botched bank robbery at a Bank of Montreal branch in Saanich, BC, on Tuesday, June 28, 2022.Handout For eight years, Justin Henry considered himself the best friend of both Mathew and Isaac … Read more

Canada’s economy slows unexpectedly in May after April growth

Canada’s economy slows unexpectedly in May after April growth

Canada’s economy slowed unexpectedly in May, according to preliminary data from Statistics Canada, but economists don’t expect this to determine the Bank of Canada from pushing ahead with an oversized interest rate hike in July to try to tame inflation. Data published by Statscan on Thursday estimate Canada’s gross domestic product fell 0.2 per cent … Read more

Are bank stocks reflecting a recession? Not yet, and that’s a concern

Are bank stocks reflecting a recession?  Not yet, and that’s a concern

Canadian bank stocks are struggling as investors fret over the possibility of an oncoming recession, but some analysts believe that banks are not yet reflecting an ugly economic downturn. Share prices of the Big Six banks – Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of … Read more

Canada’s stellar unemployment rate is a blessing for banks and the housing market – but no one seems to notice

Canada’s stellar unemployment rate is a blessing for banks and the housing market – but no one seems to notice

A customer enters a restaurant with help wanted signs on Nov. 17, 2021 in Laval, Que.Ryan Remiorz/The Canadian Press A deluge of gloomy economic news is dominating headlines, and the prospect of a recession is on every central banker’s radar, but beneath it all an undeniably positive development is hiding in plain sight – one … Read more

Critics need to accept change in the Conservative Party, says former Mulroney cabinet minister

Critics need to accept change in the Conservative Party, says former Mulroney cabinet minister

Federal Conservative MP Peter MacKay, right, is greeted by his father and former Tory cabinet minister Elmer MacKay after arriving at his campaign headquarters in New Glasgow, Nova Scotia, on Oct. 14, 2008.Mike Dembeck/The Canadian Press A veteran cabinet minister under Brian Mulroney says the evolution of the Conservative Party is an inevitability that some … Read more

Bank employee stabbed ‘multiple times’ in Chinatown bank robbery

Bank employee stabbed ‘multiple times’ in Chinatown bank robbery

A bank employee has been stabilized multiple times in Chinatown in an attempted bank robbery, Toronto police say. The man held up a bank near Spadina Avenue and Dundas Street West at about 1 pm The man jumped the counter and the employee was stabbed several times, according to police. Toronto paramedics say the employee … Read more

For investors, ‘a great opportunity to increase their energy weighting’: Scotiabank analyst

For investors, ‘a great opportunity to increase their energy weighting’: Scotiabank analyst

Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow Morgan Stanley US equity strategist Michael Wilson believes markets could rally in the near term, but it won’t last “The short-term rolling correlation between equities and real yields is now deeply negative once again… this recent decline in bond yields … Read more

BIS warns economies are approaching ‘tipping point’ where high inflation becomes entrenched

BIS warns economies are approaching ‘tipping point’ where high inflation becomes entrenched

People shop at a Walmart Supercentre in Toronto on March 13, 2020.CARLOS OSORIO/Reuters Many economies are approaching a tipping point where high inflation becomes normal while economic growth slows sharply, the Bank for International Settlements warned in its annual report published Sunday. Countries around the world are facing a dangerous cocktail of high inflation, slowing … Read more

Chrystia Freeland says Canada has a path to ‘soft landing’ to avoid recession

Chrystia Freeland says Canada has a path to ‘soft landing’ to avoid recession

Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks to reporters before heading to Question Period in the House of Commons on Parliament Hill in Ottawa on June 23.Justin Tang/The Canadian Press Finance Minister Chrystia Freeland on Sunday said Canada still has a path to a “soft landing,” where it could stabilize economically after … Read more

Bank of Canada says high inflation ‘keeping us up at night’

Bank of Canada says high inflation ‘keeping us up at night’

Bank of Canada Senior Deputy Governor Carolyn Rogers said on Wednesday that inflation in Canada was much too high and did not rule out a 75-basis-point increase at the central bank’s July decision. “We know inflation is keeping Canadians up at night. It’s keeping us up at night,” Rogers said at an event organized by … Read more