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U.S. economic growth revised lower for first quarter; unemployment claims edge up
The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer spending, the Commerce Department reported on Thursday.Gross domestic product – the broadest […] This post is only…
RBC profit beats analyst estimates as it absorbs HSBC Canada
Royal Bank of CanadaRY-T +3.01%increase reported higher second-quarter profit that beat analysts’ estimates on a boost from its capital markets business as the lender set aside lower-than-expected provisions for potentially sour loans.RBC […] This post is only…
CIBC earnings beat estimates, building on earlier momentum
Canadian Imperial Bank of CommerceCM-T +3.28%increase reported second quarter earnings that beat analyst estimates, helping the lender build on the positive momentum it has established in recent months.CIBC made $1.7-billion last quarter, […] This post is only…
Canada’s residential mortgage debt hits $2.16-trillion amid slowest growth in 23 years: CMHC
Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16-trillion as of February this year, up 3.4 per cent year-over-year and representing the slowest growth in […] This post is only…
May 29 : TSX Ends Sharply Lower As Stocks Tumble On Rate Concerns
Canadian stocks tumbled on Wednesday on concerns the Federal Reserve might keep interest rates higher for longer in the event of U.S. inflation readings coming in hotter than expected.The Commerce […] This post is only…
BMO Financial Group reports $1.87B Q2 profit, raises quarterly dividend
BMO Financial Group raised its dividend as it reported a profit of $1.87 billion in its latest quarter, up from $1.03 billion a year earlier.The bank says it will now […] This post is only…
National Bank of Canada earns $906M Q2 profit, raises quarterly dividend
National Bank of Canada reported a second-quarter profit of $906 million, up from $832 million a year earlier, and raised its dividend.The Montreal-based bank says it will now pay a […] This post is only…
Scotiabank beats estimates with second-quarter earnings, sets aside more loan-loss provisions
Bank of Nova ScotiaBNS-T -0.79%decrease reported second-quarter profit that beat analyst expectations but fell from the same period last year as the lender set aside more money for loans that could default, […] This post is only…
The CRA is getting more audit muscle. Here’s why tax experts are concerned
The Canada Revenue Agency (CRA) will get expanded powers to force taxpayers to provide information under oath during an audit, a new legal weight experts say is overreaching and will […] This post is only…