A new report from CIBC World Markets Inc. has revealed that a debt ridden, thriftier consumer who has been hit by high gasoline prices will help make the second quarter of 2011 Canada’s weakest since the recession. The report expects that the Canadian real GDP to grow by only 1% this quarter, however the rebound

Royal Bank of Canada has released its fourth quarter results, and it was revealed that profit slipped 9% to $1.12 billion as it booked losses related to the sale of its Liberty Life insurance division in the United States. Canada’s largest banks has said that these results were equal to 74 cents per share, which

Scotiabank has posted its fourth quarter results today, and profit is up 21% from the same period last year, rising to just under $1.1 billion and helping to propel the bank to its best year on record. Scotiabank’s Canadian banking business provided more than half of the overall profit, with $567 million net income, which

Hongkong and Shanghai Banking Corporation Bank Canada (HSBC) reported its first quarter net income of $84 million, or 17 cents per share. This is little change compared with the $85 million, or 17 cents per share that was reported in the same period a year ago. This did represent a drop of $64 million, or

Canada’s economy has expanded more than expected in the last few months of 2009 than most people had expected. Our country had experienced the largest quarterly increase in gross domestic product it has seen in nearly a decade. Statistics Canada has noted that the annual growth rate in the fourth quarter rose to 5%. This

Canada’s current account deficit has narrowed to $9.8 billion in the fourth quarter, reflecting an energy led increase in exports. Statistics Canada has reported that the current account has been in deficit for the past 5 quarters after almost 10 years of surpluses. We have seen financial transactions across the border continue to generate large

Canada’s economy grew for the second month in a row in October noted Statistics Canada making economists note once again to declare an end to the Great Recession. Cold weather and a good real estate market have helped the Canadians economy grow. As Canada began to use their heaters on properties bought with record low