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RBC: Canadian Economy in for a Major Rebound

Thursday, March 11, 2010, 9:34
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A new forecast from RBC Economics says that Canada’s economy is set for real Gross Domestic Product (GDP) growth of 3.1% this year and 3.9% in 2011. RBC has noted that a peak in stimulus investment, improved credit markets and a recovery in consumer spending are pushing the increase of GDP growth. Craig Wright, chief economist ... Full story

Tags: british columbia, business investment, canadians, chief economist, commodity prices, consumer spending, craig wright, credit markets, economic growth, gdp, gdp growth rate, gross domestic product, housing market, low interest rates, newfoundland and labrador, RBC, rebound, stimulus, unemployment rates

Employment Up for the Sixth Month in a Row

Saturday, February 6, 2010, 9:23
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Ontario is showing signs of economic recovery but many workers remain underemployed notes a BMO Capital Markets economist. According to the Statistics Canada’s Labour Force Survey which was released on Friday, employment in Ontario increased for the sixth month in a row. The province reported that 30,000 more people were employed compared with the previous ... Full story

Tags: bmo capital markets, british columbia, decline, economic recovery, economist, employment gains, employment increase, jobless rate, labour force survey, labour market, manitoba, nova scotia, ontario report, part time, recession, statistics canada, unemployment levels, unemployment rate

CIBC World Markets Inc: Ontario Economy Expected Grow Fast

Tuesday, February 2, 2010, 8:30
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Ontario’s economy is expected to outpace the national average in 2010 but it remains at risk to a high Canadian dollar, weak U.S. growth and high provincial deficits noted a new report from CIBC World Markets Inc. Ontario outpaced the national average by a significant margin, the momentum carried into the first half ... Full story

Tags: 8 years, british columbia, canadian dollar, cibc world markets, cibc world markets inc, competitiveness, corporate taxes, economic growth, economic recovery, economy, gdp, harmonized sales tax, jobs, migration, population growth, prospects, risk, saskatchewan

TD Takes All Clients into Account

Tuesday, January 5, 2010, 7:01
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Dominion Bank (TD) is using an innovative pilot program that specifically targets low income earners as new clients. It can be seen as a financial intervention to prevent them from cashing their social assistance cheques at costly payday lenders. TD has set up kiosks in government offices in British Columbia ... Full story

Tags: active accounts, assistance payments, british columbia, child tax credits, direct deposit forms, dominion bank, federal tax refunds, government offices, income earners, kiosks, payday lenders, pilot program, profitable customers, savings accounts, social assistance, TD, toronto, vulnerable consumers, welfare cheques

CIBC Settles ABCP Case

Thursday, December 24, 2009, 9:47
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Canadian Imperial Bank of Commerce (CIBC) will be paying $22 million to settle allegations of wrong doing in connection with asset backed commercial paper. The Ontario Securities Commission orders that CIBC and CIBC World Markets pay the penalty on Monday December 21st, 2009. The province’s stock market regulator has also ordered that HSBC ... Full story

Tags: abcp market, british columbia, canadian banks, canadian imperial bank, canadian imperial bank of commerce, cibc world markets, compliance practices, debt instrument, financial losses, hsbc bank canada, institutional investors, market regulator, ontario securities commission, subprime mortgages

Cautious Outlook for 2010

Friday, November 13, 2009, 11:40
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A new report shows that recovery might not have taken hold in Ontario, but by next year it should get much better despite the tens of thousands out of work and factories closing at the moment. Ontario’s manufacturing and wholesale trade sectors have been stabilizing, and the U.S. is on the uptick. What this ... Full story

Tags: 2010 winter olympics, british columbia, conference board of canada, economist, fiscal stimulus, gdp growth, gross domestic product, macro level, national gdp, national unemployment rate, trade sectors

Jobless Rate Rises to 8.6%

Saturday, November 7, 2009, 10:44
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October’s job numbers are not looking good, it is a reminder that economic recovery is moving slowly, and that jobs cut in a slowdown take some time to come back. After 2 months of moderate job growth, employment across Canada fell by 43,200 jobs last month, according to Statistics Canada. Canada’s unemployment rate went ... Full story

Tags: british columbia, canada labour, canadian labour market, chief economist, cibc world markets, economic recovery, job losses, jobless rate, labour force survey, statistics canada, unemployment rate

CIBC World Markets: Employment Quality Declines in Canada

Tuesday, November 3, 2009, 10:10
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A report from CIBC World Markets shows that the quality of employment in Canada has dropped significantly in the last 6 months, with all measures declining. The report shows us that while the Canadian labour market was in a free fall between October 2008 and March 2009, having shed around 356,600 jobs, was ... Full story

Tags: british columbia, cibc world markets, economist, employment quality index, full time, high paying jobs, industry groups, low paying jobs, self employment, six months, western canada

Citizens Bank of Canada: No Longer Provides Free Bank Accounts

Monday, August 10, 2009, 11:38
Bank Accounts, Featured, News
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The first Knowing Your Banks Series was about the Citizens Bank of Canada (the article can be found here) and in it comprised of information which included its no-fee chequing account. It is sad to say, however they have decided to shut down all free chequing accounts and most ... Full story

Tags: british columbia, chequing accounts, citizens bank of canada, depositors, foreign exchange services, residential mortgages, retail clients, toronto dominion bank, unsecured line of credit, visa card

Delinquency Rates Jump

Friday, August 7, 2009, 10:46
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In a new report by Equifax Canada it shows that Canadians are missing credit payments at an increasing rate which is fuelling a 24% jump in annualized national delinquency rate. The data released by the credit bureau shows the average delinquency rate for Canada was 1.56% at the end of June. In addition ... Full story

Tags: british columbia, credit bureau, credit payments, delinquency rates, delinquent bills, equifax canada, nova scotia, saskatchewan, toronto