Three Charged in $1.3M Bank Impersonation Fraud
Calgary Police have charged three individuals in a sophisticated fraud scheme where scammers impersonated banks to steal $1.3 million from victims through phone calls and courier collections.
Category : Banking Finance
Calgary Police Charge Suspects in $1.3M Bank Fraud Scheme
Calgary police have laid charges in a sophisticated bank impersonation scheme that defrauded local residents of over $1.3 million, highlighting rising financial crimes in the city.
TSX Up 100+ Points as U.S. Markets Also Surge
The S&P/TSX composite index rose more than 100 points, while U.S. stock markets also posted significant gains, reflecting broad market optimism amid economic developments.
Annette Ryan Named Canada's New Budget Watchdog
Annette Ryan has been approved as Canada's fourth parliamentary budget officer, bringing over 30 years of fiscal expertise. She will oversee government finances and implement Carney's new accounting framework.
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TD Bank Eyes Rare SRT to Hedge Data Centre Debt
Toronto-Dominion Bank is exploring a significant risk transfer deal worth around $1 billion to hedge exposure to data centre financing as tech companies ramp up AI investments.
Loonie's Oil Price Decoupling Amplifies Bearish Currency Bets
The Canadian dollar's diminishing correlation with oil prices is prompting traders to increase bearish positions, as structural changes in the oil sands sector reduce currency sensitivity to crude fluctuations.
Warsh Denies Rate-Cut Promise to Trump in Fed Hearing
Kevin Warsh, Trump's Fed chair nominee, testified he made no interest-rate promises, amid Democratic accusations of partisanship and ethical concerns over his financial holdings.
U.S. Court Rejects Banks' Appeal in Municipal Bond Lawsuit
A U.S. appeals court has refused to dismiss a class action lawsuit against Royal Bank of Canada and other major banks accused of colluding to keep municipal bond interest rates artificially high.
U.S. Intervention Seals Fate of Swiss Bank MBaer
The U.S. Treasury's unprecedented use of Section 311 against a Swiss bank led to MBaer's liquidation after it allegedly funneled funds for sanctioned actors.
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Europe's Biggest Banking Takeover Talks Collapse, Battle Escalates
The breakdown of negotiations between UniCredit and Commerzbank reveals deepening disagreements, with UniCredit adopting activist investor tactics in Europe's largest potential banking acquisition.
Canada's Fiscal Edge in G7 Faces Uncertain Future
Economists warn Canada's strong fiscal reputation among G7 nations, bolstered by low net debt and robust pension assets, may be at risk despite current advantages.
IMF Economist Praises Canada's Fiscal Stance, Data Shows Debt Worries
An IMF economist has praised Canada's fiscal position among G7 nations, but analysis of IMF data reveals Canada's gross debt-to-GDP ratio exceeds global averages, raising questions about fiscal sustainability.
Carney's Budget Update Won't Reflect Financial Pain
Mark Carney's upcoming spring budget update is expected to ignore the financial hardships faced by Canadians, using deceptive fiscal strategies reminiscent of a comedy scene.
Carney's 'Forward Guidance' Video Rehashes Old Policy
Prime Minister Mark Carney's recent video promoting 'forward guidance' claims credit for a 75-year-old central banking practice, while omitting key trade negotiations.
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Bank Optimism, Inflation Rise, REIT Shrinking, Rate Cuts, Portfolio Stress
Canada's big bank CEOs express optimism despite a sluggish economy, as inflation jumps to 2.4% due to gas price shocks, the REIT sector shrinks, and potential rate cuts face geopolitical hurdles.
Bank of Canada Appoints Two Deputy Governors
The Bank of Canada has announced the appointment of two new deputy governors, with one position seeing the removal of the 'external' designation, signaling a shift in the central bank's leadership structure.
EQB Plans $200M Capital Notes Offering with 60-Year Maturity
Canadian bank holding company EQB Inc. is preparing to sell approximately $200 million in limited recourse capital notes, securities that can be repurchased after 5.5 years and mature in 60 years, with initial pricing discussions around 3.75% above govern
Bank of Canada Rate Cuts Hindered by Iran Conflict, Economist Says
New inflation data reveals gasoline prices drove CPI to 2.4%, but economists argue rate cuts would be likely without Iran tensions. BMO and Rosenberg Research analyze the implications for the Bank's upcoming decision.
Iran War Pushes Up Inflation Expectations, Bank of Canada Reports
The Bank of Canada reveals survey data showing businesses and consumers expect the Iran conflict to harm the economy and raise inflation, with firms hiking near-term expectations significantly.
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60/40 Portfolios May Fail Under Policy Stress, Expert Warns
Financial analyst Martin Pelletier warns that Canadian government policies could lead to double-digit losses in bond portfolios, undermining the traditional 60/40 investment strategy's risk management capabilities.
Bank CEOs Optimistic About Canada's Future Despite Economic Lag
Canada's top bank executives express confidence in long-term growth potential, citing energy stability and investment opportunities, while acknowledging current economic difficulties and regional disparities.
Ex-Bank of Canada Governor: 30% Recession Risk for Canada
A former Bank of Canada governor warns that Canada faces a 30% probability of entering a recession due to mounting global economic challenges and uncertainties.
Trump Tariff Refunds Start: $127B Eligible for Return
U.S. businesses can apply for refunds of illegal Trump-era tariffs starting Monday through a new electronic portal, with up to $127 billion potentially returned.
Bank of Canada Governor Talks AI Risks with Fed Chair
Bank of Canada Governor Tiff Macklem reveals discussions with Federal Reserve Chair Jerome Powell about risks from Anthropic's Mythos AI model, highlighting concerns over financial system vulnerabilities and cybersecurity threats.
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FSB to Share Anthropic Mythos AI Risk Insights Globally
The Financial Stability Board is gathering information about risks from Anthropic's Mythos AI model to share with regulators worldwide, as Bank of Canada Governor Tiff Macklem warns of evolving cyber threats.
Economist: Canada's Investment Outflow Not a Red Flag Yet
Recent data shows more money left Canada than foreign investors brought in, but economists say it's not a cause for immediate alarm, highlighting underlying economic factors.
P.E.I. Deficit Brings Pressure, Not Crisis: Agency
A credit ratings agency reports that Prince Edward Island's growing deficit creates financial pressure but does not constitute a crisis, highlighting fiscal challenges amid economic uncertainties.
Emerging Currencies Recover War Losses on Peace Optimism
Emerging-market currencies have erased all losses from the U.S.-Iran war after Iran reopened the Strait of Hormuz, sparking optimism for de-escalation and sending oil prices plunging over 10%.
Gold Surges After Iran Opens Strait of Hormuz
Gold prices jumped over 2% after Iran announced the Strait of Hormuz is fully open, signaling progress in ending a conflict that had driven up energy costs and inflation fears.
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Scotiabank's KeyCorp Stake Adds $77M to Q2 Income
Scotiabank projects a $77 million increase in second-quarter net income from its stake in KeyCorp, highlighting strategic financial gains amid broader banking sector developments.
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