Category: Canadian Business

Stock indexes up sharply in Toronto, New York; loonie down

Canada’s main stock index was up sharply in late morning trading, with energy and mining stocks providing much of the lift. The Toronto Stock Exchange’s S&P/TSX composite index was up 143.10 points to 16,478.25, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 133.10 points to 24,594.80. The S&P…

Canadian pot sector may see new deals following legalization

The Canadian marijuana sector is expected to see a new wave of capital inflows from investors and a surge in deals among the companies involved, now that the industry has received the green light to legalize recreational use, according to Eight Capital analyst Graeme Kreindler. Royal Assent, a ceremonial approval from the Governor General and…

Rebooting Reference Rates

Introduction Thank you and good afternoon. My topic today is interest-rate benchmarks or reference rates and the work under way here in Canada and globally to strengthen them. Before I plunge in, let me take you back to the 1980s. Aside from the monstrous shoulder pads in my suit jackets, the decade…

Auto tariffs would permanently scar Canada’s economy, TD warns

By Kristine OwramBloomberg Mon., June 18, 2018 Canada’s economy will be permanently scarred if U.S. President Donald Trump imposes auto tariffs, with one in five Ontario manufacturing jobs at risk and the potential for a lasting reduction in output, according to new analysis by Toronto-Dominion Bank. TD Economics forecasts U.S. tariffs on automobile imports would…

Deputy Governor Sylvain Leduc to leave the Bank of Canada

The Bank of Canada announced today that Deputy Governor Sylvain Leduc will leave the Bank in late July 2018. Mr. Leduc will return to San Francisco with his family to resume working at the Federal Reserve Bank of San Francisco. Mr. Leduc was appointed Deputy Governor of the Bank of Canada in May 2016…