RBC to buy HSBC’s Canadian unit for $13.5-billion in biggest domestic banking deal on record

RBC to buy HSBC’s Canadian unit for .5-billion in biggest domestic banking deal on record

Royal Bank of Canada RY-T is buying HSBC Bank Canada for $13.5-billion in cash in the largest deal ever reached between two domestic banks in the country. The transaction, which is subject to regulatory and government approvals, would see RBC consolidate its position as Canada’s largest bank. The purchase price represents a multiple of 9.4 … Read more

Cities’ downtown cores are hollowing out, but small towns and suburbs tell a different story

Cities’ downtown cores are hollowing out, but small towns and suburbs tell a different story

People walk in Vancouver’s business district over the lunch hour on April 22. According to a new report, the city experienced a 48-per-cent decline in mobility compared with prepandemic timesJENNIFER GAUTHIER/Vancouver Freelancer The downtowns of most major Canadian cities continue to face a substantial dip in foot traffic compared with prepandemic norms – but the … Read more

Staff at Kherson children’s hospital used guile and grit to keep patients safe from Russian occupiers

Staff at Kherson children’s hospital used guile and grit to keep patients safe from Russian occupiers

At a children’s hospital in Kherson, a nurse checks on orphaned children on Nov. 17, days after the withdrawal of occupying forces from the city.Anton Skyba/The Globe and Mail It was early April when Russian soldiers came to the children’s hospital in Kherson and told head doctor Inna Holodnyak that she had to co-operate with … Read more

Hockey Canada back in hot seat after review finds evidence of misleading statements

Hockey Canada back in hot seat after review finds evidence of misleading statements

Scott Smith and Brian Cairo join fellow witnesses as they appear at the Standing Committee on Canadian Heritage in Ottawa on July 27, looking into how Hockey Canada handled allegations of sexual assault and a subsequent lawsuit.Sean Kilpatrick/The Canadian Press Federal MPs say they expect more transparency from Hockey Canada at hearings this week after … Read more

Nickel is the key to an electric vehicle transition. Is mining it making Canadians sick?

Nickel is the key to an electric vehicle transition.  Is mining it making Canadians sick?

The port neighborhood of Limoilou in Quebec City, on August 15, 2022. Limoilou sits next to the international Port of Quebec, where mined nickel is transported. Growing up in the port neighborhood of Limoilou in Quebec City, Joanne Boutet, 65, says she had asthma as a child. Pretty much everyone in her class did. But … Read more

Why are key US Senate races still undecided? Democratic and Republican voting patterns could be a factor

Why are key US Senate races still undecided?  Democratic and Republican voting patterns could be a factor

Staff adjudicate ballots for the US midterm elections, at the Maricopa County Tabulation and Election Center in Phoenix, on Nov. 10.JIM URQUHART/Reuters Charismatic, pugilistic and telegenic, Kari Lake seized the political spotlight with her allegiance to Donald Trump’s stolen-election mantra, her disdain for the media establishment that once paid her gilded salary as a news … Read more

Live updates: Bank of Canada expected to deliver sixth interest rate hike

Live updates: Bank of Canada expected to deliver sixth interest rate hike

Governor Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020.BLAIR GABLE/Reuters The latest on the Bank of Canada’s rate decision mark rendell The Bank of Canada is expected to deliver another large interest rate increase today. Governor Tiff Macklem has been unambiguous in recent weeks that interest rates … Read more

Why selling HSBC Canada, the country’s most lucrative bank deal in decades, is unusually challenging

Why selling HSBC Canada, the country’s most lucrative bank deal in decades, is unusually challenging

HSBC’s Canadian bank has been very profitable, churning out $717-million in net income last year and its 13.3-per-cent return on equity makes it globally competitive.Fred Lum/The Globe and Mail The dream scenario Big Six bank chiefs used to salivate over has come true: HSBC Bank Canada, the country’s seventh-largest lender, is up for sale. Yet … Read more

Why a Waterloo, Ont., school board has emerged as a battleground for ideological politics

Why a Waterloo, Ont., school board has emerged as a battleground for ideological politics

jeewan chanicka, Director of Education for the Waterloo Region District School Board, at the Waterloo Collegiate Institute on Sept. 26.Cole Burston/The Globe and Mail Whenever jeewan chanicka got out of his car to visit a school in the last academic year, his first as education director at the Waterloo Region District School Board in Southwestern … Read more

IMF cuts 2023 forecast, warns ‘worst is yet to come’ for global economy

IMF cuts 2023 forecast, warns ‘worst is yet to come’ for global economy

Pierre-Olivier Gourinchas, director of research at the International Monetary Fund, speaks at a news conference in Washington on the IMF’s world economic outlook.Patrick Semansky/The Associated Press The International Monetary Fund cut its global growth forecast and warned of potential financial market disorder, but it advised central banks to stay the course on monetary policy tightening … Read more