Globe and Mail - Business • 2026-06-29
Deep Sky has delivered North America's first direct air capture carbon credits to RBC and Microsoft, marking a significant step in carbon removal innovation. T
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Deep Sky has delivered North America's first direct air capture carbon credits to RBC and Microsoft, marking a significant step in carbon removal innovation. These verified credits stem from Deep Sky's Alberta pilot facility, which captures CO2 directly from the atmosphere. The company also has existing carbon credit agreements with TD Bank and other international entities.
Key takeaways
- Deep Sky delivered first North American DAC carbon credits.
- RBC and Microsoft are among the first recipients.
- Alberta facility captures CO2 directly from air.
Financial Post - Banking • 2026-06-29
Some bondholders of Shapoorji Pallonji Group's subsidiary, Goswami Infratech, are seeking to sell their debt due to delays in refinancing talks. The company is
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Some bondholders of Shapoorji Pallonji Group's subsidiary, Goswami Infratech, are seeking to sell their debt due to delays in refinancing talks. The company is requesting an extension on notes maturing this month, which are partially backed by a stake in Tata Sons. This situation highlights potential strains in India's private credit market.
Key takeaways
- Shapoorji Pallonji Group faces refinancing delays for its subsidiary.
- Bondholders are attempting to exit positions amid these delays.
- Debt is partially secured by Shapoorji's stake in Tata Sons.
Financial Post - Banking • 2026-06-29
Gold prices saw a decline as renewed US-Iran tensions in the Persian Gulf emerged, impacting oil prices and tempering expectations for interest rate hikes. Whil
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Gold prices saw a decline as renewed US-Iran tensions in the Persian Gulf emerged, impacting oil prices and tempering expectations for interest rate hikes. While inflation data remained within estimates, the geopolitical events caused a shift in market sentiment. Gold has experienced a significant decrease since late February, influenced by rising energy prices and the prospect of prolonged higher interest rates.
Key takeaways
- Gold prices fell amid renewed US-Iran tensions.
- Oil prices advanced due to shipping disruptions.
- Inflation data was within analyst expectations.
Financial Post - Banking • 2026-06-28
Major Wall Street banks are revising their forecasts, now anticipating a weaker euro against the US dollar due to differing interest rate hike expectations. Mar
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Major Wall Street banks are revising their forecasts, now anticipating a weaker euro against the US dollar due to differing interest rate hike expectations. Markets are pricing in a US Federal Reserve rate increase in 2026 while the European Central Bank is not fully expected to follow suit. This shift in sentiment has led to a significant decline in the euro's value, with some institutions predicting it could reach $1.10 against the dollar.
Key takeaways
- US interest rate hike expectations are driving euro weakness.
- Major banks predict a decline in the euro's value.
- ECB's cautious approach contrasts with Fed's potential hikes.
Globe and Mail - Business • 2026-06-28
A high-income Oakville couple earning over $400,000 annually is making significant mortgage payments of $8,000 per month on their $2.3 million home purchased du
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A high-income Oakville couple earning over $400,000 annually is making significant mortgage payments of $8,000 per month on their $2.3 million home purchased during the pandemic. Despite their substantial income and savings, they express financial strain and concerns about potential job losses impacting their ability to meet expenses. Their financial priorities are heavily focused on aggressively paying down their remaining $500,000 mortgage debt.
Key takeaways
- Couple earns over $400,000 annually.
- Monthly mortgage payment is $8,000.
- Remaining mortgage balance is $500,000.
Globe and Mail - Business • 2026-06-28
High fees and underperforming mutual funds can significantly impact investment returns, with some actively managed funds charging over 2% MER and yielding less
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High fees and underperforming mutual funds can significantly impact investment returns, with some actively managed funds charging over 2% MER and yielding less than market benchmarks. Investors can reduce costs by opting for low-fee ETFs or robo-advisors, or by working with fee-based financial advisors who offer lower-cost fund options. Improved fee disclosure is expected in 2027, but investors can proactively calculate their total fees now to assess advisor performance.
Key takeaways
- High MERs on mutual funds can erode investment growth.
- ETFs and robo-advisors offer lower-cost investment alternatives.
- Fee-based advisors may provide access to more cost-effective funds.
Financial Post - Banking • 2026-06-27
Central bankers, including Bank of Canada Governor Tiff Macklem, are gathering at the European Central Bank's annual symposium amidst concerns of renewed financ
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Central bankers, including Bank of Canada Governor Tiff Macklem, are gathering at the European Central Bank's annual symposium amidst concerns of renewed financial turmoil and potential market corrections. Discussions are expected to extend beyond inflation to address financial stability risks, particularly those linked to artificial intelligence and geopolitical uncertainty. The event marks the debut appearance of new Federal Reserve Chair Kevin Warsh on the global stage alongside other key figures from the 2008 financial crisis.
Key takeaways
- Central bankers convene amid financial stability concerns.
- AI and geopolitical risks are key discussion points.
- New Fed Chair Warsh debuts internationally.
Financial Post - Banking • 2026-06-27
European Central Bank (ECB) official Isabel Schnabel indicated that inflation risks remain elevated despite a potential peace deal in the Middle East, suggestin
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European Central Bank (ECB) official Isabel Schnabel indicated that inflation risks remain elevated despite a potential peace deal in the Middle East, suggesting further interest rate hikes may be necessary. Schnabel noted that while energy prices have eased, broader inflationary pressures from food, goods, and services are still a concern. The ECB anticipates continued rate increases to achieve its 2% inflation target.
Key takeaways
- ECB sees upside risks to inflation.
- Further interest rate hikes are expected.
- Inflation target remains 2%.
Globe and Mail - Business • 2026-06-27
Canadian governments are expressing concern that declining home values could hinder new housing construction, as developers cite high costs and financing challe
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Canadian governments are expressing concern that declining home values could hinder new housing construction, as developers cite high costs and financing challenges. Initiatives in British Columbia and Ontario propose converting unsold condominiums into affordable housing, funded by provincial financing. This approach contrasts with reduced support for non-profit housing providers, raising questions about the government's commitment to affordability for younger Canadians.
Key takeaways
- Governments fear falling home prices may halt new construction.
- BC and Ontario plan to convert condos to affordable housing.
- Support for non-profit housing construction is being reduced.
Financial Post - Banking • 2026-06-26
Appili Therapeutics reported fiscal year 2026 results, highlighting commercial momentum for LIKMEZ in the U.S. market and significant non-dilutive funding, incl
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Appili Therapeutics reported fiscal year 2026 results, highlighting commercial momentum for LIKMEZ in the U.S. market and significant non-dilutive funding, including a US$40 million award for VXV-01 advancement. The company is focused on growing LIKMEZ sales, progressing its funded pipeline, and securing additional capital for fiscal 2027. Regulatory progress was also noted for ATI-1801, with the FDA agreeing to a scientific bridging strategy that may accelerate its path to registration.
Key takeaways
- Appili Therapeutics' LIKMEZ shows commercial growth in the U.S.
- A US$40 million award supports VXV-01 development.
- Regulatory strategy for ATI-1801 may speed up registration.
Globe and Mail - Business • 2026-06-26
JPMorgan Chase CEO Jamie Dimon views U.S.-Canada trade tensions as a temporary setback, emphasizing that his bank continues to expand its commercial and investm
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JPMorgan Chase CEO Jamie Dimon views U.S.-Canada trade tensions as a temporary setback, emphasizing that his bank continues to expand its commercial and investment banking operations in Canada. Despite Canadian legislation limiting ownership stakes in banks, JPMorgan is committed to growing its business in the country. Dimon believes the strong economic ties between the U.S. and Canada will endure, and that a resolution to trade disagreements is achievable.
Key takeaways
- JPMorgan's Canadian revenue has nearly doubled in five years.
- Canadian law caps bank ownership at 10%.
- Dimon downplays trade tensions as a 'bump in the road'.
Globe and Mail - Business • 2026-06-26
A new multilateral defence bank, championed by Prime Minister Mark Carney, will be headquartered in Canada with Luxembourg serving as its European base. The ban
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A new multilateral defence bank, championed by Prime Minister Mark Carney, will be headquartered in Canada with Luxembourg serving as its European base. The bank aims to raise US$135 billion to fund defence projects, particularly for countries facing financing challenges. Five Canadian cities are currently competing to host the bank's headquarters, with further clarity on international backing anticipated after an upcoming NATO meeting.
Key takeaways
- New defence bank to have Canadian headquarters and Luxembourg European base.
- Bank aims to raise US$135 billion for defence projects.
- Five Canadian cities are competing to host the bank's headquarters.
Globe and Mail - Business • 2026-06-26
The federal government is partnering with British Columbia on a $1.45-billion plan to purchase over 2,200 unsold condo units for affordable housing, aiming to e
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The federal government is partnering with British Columbia on a $1.45-billion plan to purchase over 2,200 unsold condo units for affordable housing, aiming to establish rent-to-own programs. Rising housing costs and a market downturn are contributing to couples delaying separation or continuing to live together post-breakup due to affordability concerns. Meanwhile, Airbnb's lobbying efforts to relax short-term rental rules for the World Cup in B.C. and Vancouver were unsuccessful, with accommodation demand falling short of expectations.
Key takeaways
- Ottawa and B.C. to buy unsold condos for affordable housing.
- Housing affordability pressures keep ex-couples living together.
- Airbnb's World Cup lobbying for relaxed rental rules failed.
Globe and Mail - Business • 2026-06-26
The Royal Bank of Canada has been fined $4.25 million by the Financial Consumer Agency of Canada for issuing inaccurate credit card statements to over 227,000 c
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The Royal Bank of Canada has been fined $4.25 million by the Financial Consumer Agency of Canada for issuing inaccurate credit card statements to over 227,000 customers. These inaccuracies, concerning credited or charged amounts, occurred between 2001 and 2024, leading RBC to transfer and refund more than $22.4 million. RBC self-reported the issue and fully cooperated with the regulator.
Key takeaways
- RBC fined $4.25 million for inaccurate credit card statements.
- Over 227,000 accounts affected by statement errors.
- RBC refunded and transferred over $22.4 million to affected customers.
Financial Post - Banking • 2026-06-26
QI Tech and Bettr, under Ant International, have partnered to expand credit access for e-commerce merchants and consumers in Brazil. The collaboration will intr
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QI Tech and Bettr, under Ant International, have partnered to expand credit access for e-commerce merchants and consumers in Brazil. The collaboration will introduce working capital loans for small and medium-sized businesses and a Buy Now, Pay Later (BNPL) option for shoppers on platforms like AliExpress. These services utilize automated analysis, real-time decision-making, and risk management models to support financial inclusion.
Key takeaways
- Partnership aims to increase credit access in Brazil's e-commerce sector.
- New offerings include working capital loans and BNPL options.
- Services use data analysis and risk management for credit decisions.
Financial Post - Banking • 2026-06-25
New York Fed President John Williams stated that current interest rates are appropriately positioned to reduce inflation towards the Federal Reserve's 2% target
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New York Fed President John Williams stated that current interest rates are appropriately positioned to reduce inflation towards the Federal Reserve's 2% target. He anticipates inflation will ease to 3.5% by year-end and reach the target by 2028, citing factors like fading tariff impacts and stabilizing energy prices. Fed officials recently held rates steady but projections indicate potential for a hike later this year.
Key takeaways
- Interest rates are seen as well-positioned to combat inflation.
- Inflation is projected to reach 3.5% by year-end.
- Fed projections suggest a possible interest rate hike this year.
Globe and Mail - Business • 2026-06-25
Fixed mortgage rates in Canada have remained stagnant above 4% since March, making them less attractive compared to variable rates which are currently the cheap
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Fixed mortgage rates in Canada have remained stagnant above 4% since March, making them less attractive compared to variable rates which are currently the cheapest option. Geopolitical events and lingering inflation concerns are influencing bond yields, which in turn impact fixed mortgage pricing. Borrowers seeking stability but wary of long-term commitments are considering shorter fixed-rate terms as a compromise.
Key takeaways
- Fixed mortgage rates are above 4% and have not decreased since March.
- Variable mortgage rates are currently the cheapest option for borrowers.
- Geopolitical factors and inflation are influencing rate trends.
Globe and Mail - Business • 2026-06-25
Consumer advocacy groups are pushing for changes to how financial losses from scams are handled, arguing banks should share responsibility when customers are de
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Consumer advocacy groups are pushing for changes to how financial losses from scams are handled, arguing banks should share responsibility when customers are defrauded. Currently, victims often bear the full financial loss, with banks citing consumer negligence in their contracts. While credit card transactions have some protections, debit card fraud liability remains largely with the consumer, though a new Quebec bill aims to improve protections for both authorized and unauthorized fraudulent transactions.
Key takeaways
- Consumer rights groups advocate for shared bank liability in scam losses.
- Victims often bear full financial loss from scams.
- Quebec bill may enhance protections for fraudulent transactions.
Globe and Mail - Business • 2026-06-25
U.S. inflation, measured by the PCE price index, rose to 4.1% in May, exceeding 4% for the first time in three years, driven by energy prices and services. Desp
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U.S. inflation, measured by the PCE price index, rose to 4.1% in May, exceeding 4% for the first time in three years, driven by energy prices and services. Despite this, consumer spending remained strong, supported by tax refunds and a stock market rally. Financial markets are anticipating a potential U.S. Federal Reserve interest rate hike in September.
Key takeaways
- U.S. PCE inflation reached 4.1% in May.
- Consumer spending showed resilience despite inflation.
- Markets expect a potential Fed rate hike in September.
Globe and Mail - Business • 2026-06-25
U.S. bond market expectations for Federal Reserve interest rate hikes are diverging significantly, with some traders pricing in multiple hikes while asset manag
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U.S. bond market expectations for Federal Reserve interest rate hikes are diverging significantly, with some traders pricing in multiple hikes while asset managers anticipate holds or cuts due to easing inflation and a softening labour market. This uncertainty is reflected in a flattened yield curve and a shift towards neutral positioning among bond investors. The Fed's move away from explicit forward guidance is contributing to increased market volatility and a greater reliance on economic data to predict policy moves.
Key takeaways
- Bond traders expect Fed rate hikes, while some asset managers predict holds or cuts.
- Divergent outlooks on inflation and labour market impact Fed policy expectations.
- Fed's reduced forward guidance increases market uncertainty and volatility.
Globe and Mail - Business • 2026-06-24
Bank of Canada policy-makers are maintaining a nimble monetary policy stance to address potential impacts from U.S. trade restrictions and high energy prices. T
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Bank of Canada policy-makers are maintaining a nimble monetary policy stance to address potential impacts from U.S. trade restrictions and high energy prices. The key interest rate remains unchanged at 2.25 per cent, with the Bank observing limited evidence of broad-based inflation driven by energy costs. While acknowledging economic weakness and inflationary pressures, the council is cautious about overreacting to current data.
Key takeaways
- Monetary policy to remain nimble.
- Key interest rate held at 2.25%.
- U.S. trade and energy prices are key concerns.
Globe and Mail - Business • 2026-06-24
U.S. Treasury Secretary Scott Bessent supports Federal Reserve Chair Kevin Warsh's plan to reduce forward rate guidance and eliminate the "dot plot" projections
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U.S. Treasury Secretary Scott Bessent supports Federal Reserve Chair Kevin Warsh's plan to reduce forward rate guidance and eliminate the "dot plot" projections. Bessent believes these communication tools can be a "crutch" for market participants and advocates for policy-makers to remain open to the inflationary impacts of geopolitical events and productivity gains from AI. He also stated that a strong U.S. dollar is not solely dependent on higher interest rates, but can be driven by economic acceleration.
Key takeaways
- Fed guidance and "dot plot" projections are being reviewed for reduction.
- Inflationary impacts of geopolitical events and AI productivity are key considerations.
- A strong U.S. dollar can be achieved without necessarily raising interest rates.
Globe and Mail - Business • 2026-06-24
The federal and British Columbia governments are partnering to acquire over 2,200 unsold condo units in B.C. to convert into affordable housing, utilizing a new
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The federal and British Columbia governments are partnering to acquire over 2,200 unsold condo units in B.C. to convert into affordable housing, utilizing a new Crown corporation, Build Canada Homes, for financing. This initiative aims to address a significant surplus of newly built condos in the Vancouver region, where investors have become hesitant due to market conditions. While the exact financial mechanism is still being finalized, the program is expected to involve substantial public funds to purchase these units.
Key takeaways
- Governments will acquire unsold B.C. condos for affordable housing.
- Build Canada Homes will be involved in financing the acquisitions.
- The program addresses a surplus of new condos in the Vancouver region.
Financial Post - Banking • 2026-06-24
India's Shapoorji Pallonji Group is seeking bondholder consent for a one-month extension on $1.5 billion in debt due to refinancing challenges. The group is als
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India's Shapoorji Pallonji Group is seeking bondholder consent for a one-month extension on $1.5 billion in debt due to refinancing challenges. The group is also requesting an extension on a key debt condition for its financing arm until September 30. These requests highlight ongoing funding pressures and the impact of declining collateral values on the conglomerate's debt repayment plans.
Key takeaways
- Shapoorji Pallonji Group seeks debt extension.
- Refinancing efforts are facing delays.
- Collateral value decline impacts debt.
Financial Post - Banking • 2026-06-24
Modern apartment buildings in London, characterized by large windows and sheer facades, are causing unbearable indoor heat for residents, exacerbated by rising
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Modern apartment buildings in London, characterized by large windows and sheer facades, are causing unbearable indoor heat for residents, exacerbated by rising global temperatures. This architectural trend, intended to maximize light, now leads to overheating, with some residents finding even air conditioning insufficient. The Mayor of London's office is developing plans to address urban heat challenges, acknowledging the increasing frequency of extreme heat events.
Key takeaways
- Modern London apartments are overheating due to design.
- Large windows contribute to excessive indoor heat.
- Authorities are planning to tackle urban heat issues.
Globe and Mail - Business • 2026-06-24
Ontario is on track to deliver a record number of student housing beds in 2026, with over 6,300 new units expected to become available. This surge is driven by
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Ontario is on track to deliver a record number of student housing beds in 2026, with over 6,300 new units expected to become available. This surge is driven by developers pivoting from a downturn in the condo market and facilitated by provincial policy changes easing construction requirements. Despite a national cap on international student permits, demand for student housing remains strong, particularly in the Greater Toronto Area and the Waterloo-Guelph-Hamilton region, with purpose-built accommodations commanding a significant rent premium.
Key takeaways
- Record student housing beds expected in Ontario by 2026.
- Developers shifting from condo market to student housing.
- Provincial policy changes are supporting student housing construction.
Globe and Mail - Business • 2026-06-23
Bank of Canada Governor Tiff Macklem warned that global economic imbalances, particularly overinvestment in the U.S. fueled by international capital flows, are
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Bank of Canada Governor Tiff Macklem warned that global economic imbalances, particularly overinvestment in the U.S. fueled by international capital flows, are creating financial stability risks. He noted that changes in global finance, including increased involvement by less regulated non-bank entities, exacerbate these risks. Macklem also commented on Canadian inflation, stating that while headline inflation rose to 3.2% in May due to oil prices, core inflation remains near the 2% target with no evidence of generalized inflation.
Key takeaways
- Global economic imbalances pose financial stability risks.
- Non-bank financial entities increase market complexity and risk.
- Canadian core inflation remains near the 2% target.
Globe and Mail - Business • 2026-06-23
Bank of Canada Governor Tiff Macklem warned of global financial stability risks stemming from imbalances in international capital flows, particularly concerning
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Bank of Canada Governor Tiff Macklem warned of global financial stability risks stemming from imbalances in international capital flows, particularly concerning the United States. He noted that while oil prices contributed to recent inflation, there is no evidence of widespread price increases across other goods and services. Macklem also highlighted the need for Canada to address interprovincial trade barriers and regulatory uncertainty to create more investable assets.
Key takeaways
- Global financial stability risks identified by BoC Governor.
- Inflation remains largely tied to oil prices, not widespread.
- Canada urged to reduce trade barriers and regulatory uncertainty.
Globe and Mail - Business • 2026-06-23
Fairfax India Holding Corp. purchased nearly US$1-billion in Indian government bonds, a move reportedly linked to a potential stake acquisition in IDBI Bank. Th
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Fairfax India Holding Corp. purchased nearly US$1-billion in Indian government bonds, a move reportedly linked to a potential stake acquisition in IDBI Bank. This transaction was facilitated by India's recent exemption of foreign investors in government bonds from capital gains tax. Fairfax is not a frequent participant in the Indian bond market, and the IDBI Bank stake sale process has faced delays.
Key takeaways
- Fairfax India bought US$1-billion in Indian bonds.
- Bond purchase precedes potential IDBI Bank stake deal.
- India exempted foreign bond investors from capital gains tax.
Globe and Mail - Business • 2026-06-23
Canadian inflation rose to 3.2% in May, driven by a significant increase in gas and tomato prices, though the Bank of Canada sees no cause for panic. The count
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Canadian inflation rose to 3.2% in May, driven by a significant increase in gas and tomato prices, though the Bank of Canada sees no cause for panic. The country is proceeding with a major submarine procurement, expected to create thousands of jobs and economic benefits, but will strain the existing defence sector labour force. Canadian bank stocks have seen a notable surge, with an average increase of 30% year-to-date.
Key takeaways
- Canadian inflation reached 3.2% in May.
- Major submarine procurement to create jobs.
- Canadian bank stocks have risen 30% this year.
Globe and Mail - Business • 2026-06-23
Canada's Big Six banks have seen significant stock price increases, outperforming assets like gold and AI-related stocks over the past year. This surge in bank
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Canada's Big Six banks have seen significant stock price increases, outperforming assets like gold and AI-related stocks over the past year. This surge in bank share value is attributed to strong performance in their wealth management, trading, and investment banking divisions, driven by volatile markets and increased investor activity. Despite a sluggish housing market and anemic loan growth, the banks have reported robust net income and world-class returns on equity, with recent regulatory changes aiming to spur lending.
Key takeaways
- Canadian bank stocks have significantly outperformed gold and AI stocks.
- Strong capital markets activity is driving bank earnings and stock prices.
- Regulatory changes aim to encourage banks to deploy capital for new loans.
Financial Post - Banking • 2026-06-23
Deutsche Bank has significantly lowered its gold price forecasts, citing investor caution regarding US monetary policy and declining investment demand. The ban
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Deutsche Bank has significantly lowered its gold price forecasts, citing investor caution regarding US monetary policy and declining investment demand. The bank now anticipates gold at $4,300 per ounce in Q3 and $4,800 in Q4, still implying gains from current levels but reflecting a less bullish outlook. This adjustment follows a similar move by Goldman Sachs and is attributed to resilient US economic data and the Federal Reserve's stance on interest rates.
Key takeaways
- Gold price forecasts reduced by up to 22%.
- US monetary policy and investment demand cited.
- Central bank demand remains a strong support.
Financial Post - Banking • 2026-06-23
Hungary's central bank is expected to cut its benchmark interest rate by a quarter point to 6% due to slowing inflation and a strengthening forint. This move di
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Hungary's central bank is expected to cut its benchmark interest rate by a quarter point to 6% due to slowing inflation and a strengthening forint. This move diverges from the tightening stance of some other global central banks, including the European Central Bank. The decision is supported by inflation falling to 1.8% and the forint's 9% gain against the euro this year, which helps curb imported price pressures.
Key takeaways
- Hungary's central bank likely to cut rates.
- Inflation has slowed to 1.8% in Hungary.
- The Hungarian forint has strengthened significantly.
Globe and Mail - Business • 2026-06-22
Former U.S. Federal Reserve Chairman Alan Greenspan advocated against regulating over-the-counter derivatives, believing markets would self-regulate. This stanc
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Former U.S. Federal Reserve Chairman Alan Greenspan advocated against regulating over-the-counter derivatives, believing markets would self-regulate. This stance contributed to the Commodity Futures Modernization Act, which shielded these markets from oversight and allowed them to expand significantly. The subsequent 2008 financial crisis, widely linked to these unregulated derivatives, led to Greenspan admitting a "flaw" in his self-regulation theory.
Key takeaways
- Greenspan opposed regulation of OTC derivatives.
- A U.S. law prevented OTC derivatives regulation.
- The 2008 crisis highlighted risks of deregulation.
Globe and Mail - Business • 2026-06-22
Airlines are poised to benefit from significant fuel cost savings due to lower oil prices, but passengers are unlikely to see immediate fare reductions. Tight
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Airlines are poised to benefit from significant fuel cost savings due to lower oil prices, but passengers are unlikely to see immediate fare reductions. Tight capacity and the need to rebuild margins mean carriers may hold ticket prices steady or increase them where demand allows. The extent of fare relief will vary globally, depending on factors like fuel price pass-through and regional demand strength.
Key takeaways
- Airlines anticipate substantial fuel savings from lower oil prices.
- Passengers may not see immediate ticket price decreases.
- Capacity constraints and margin rebuilding will influence fare levels.
Globe and Mail - Business • 2026-06-22
Former U.S. Federal Reserve Chair Alan Greenspan, who led the central bank for 18 years, has died at age 100. Greenspan presided over a period of economic growt
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Former U.S. Federal Reserve Chair Alan Greenspan, who led the central bank for 18 years, has died at age 100. Greenspan presided over a period of economic growth and stock market surges, earning him the nickname "the Oracle," but his tenure was later scrutinized due to the 2008 financial crisis and U.S. housing market collapse. He acknowledged a "mistake" in his assumption that financial markets could self-regulate, a view that drew criticism following the crisis.
Key takeaways
- Alan Greenspan, former U.S. Fed Chair, died at 100.
- His leadership coincided with economic booms and the 2008 crisis.
- Greenspan later admitted to a policy misjudgment regarding market regulation.
Globe and Mail - Business • 2026-06-22
Canada's inflation rate climbed to 3.2% in May, the highest in over two years, driven by increased gas and air transportation costs. Despite this rise, economis
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Canada's inflation rate climbed to 3.2% in May, the highest in over two years, driven by increased gas and air transportation costs. Despite this rise, economists anticipate little immediate impact on Bank of Canada interest rate policy, as oil prices are falling and core inflation measures remain stable. Shelter inflation continued to decelerate, offering some offset to the overall price increases.
Key takeaways
- Inflation reached 3.2% in May, up from 2.8% in April.
- Gas and air transportation costs were key drivers of the inflation increase.
- Bank of Canada interest rate hikes are not expected in the near future.
Financial Post - Banking • 2026-06-22
Treasury yields rose as escalating Middle East tensions, particularly threats of military action against Iran, pushed oil prices higher and stoked inflation fea
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Treasury yields rose as escalating Middle East tensions, particularly threats of military action against Iran, pushed oil prices higher and stoked inflation fears. This, combined with hawkish commentary from Federal Reserve officials, led investors to reassess inflation risks and anticipate potential interest rate hikes. The market is reacting to geopolitical events and central bank messaging that could impact future borrowing costs.
Key takeaways
- Geopolitical tensions are driving up oil prices.
- Higher oil prices are increasing inflation concerns.
- Hawkish central bank rhetoric is influencing rate expectations.
Financial Post - Banking • 2026-06-22
Japan's Prime Minister Sanae Takaichi has indicated acceptance of the Bank of Japan's recent interest rate hike, emphasizing government coordination with the ce
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Japan's Prime Minister Sanae Takaichi has indicated acceptance of the Bank of Japan's recent interest rate hike, emphasizing government coordination with the central bank to achieve its price stability target. Despite government efforts to cushion inflation, the BOJ projects continued pressure from energy prices, leading to expectations of further rate increases. Takaichi's upcoming nominations to the BOJ board could influence future monetary policy decisions.
Key takeaways
- Japan's government accepts BOJ's latest rate hike.
- BOJ projects continued inflation pressure.
- PM Takaichi to appoint new BOJ board members.
Globe and Mail - Business • 2026-06-21
Canadian inflation may exceed 3% in May, but falling oil prices and a stable core inflation rate suggest interest rate hikes are unlikely. Falling crude oil pr
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Canadian inflation may exceed 3% in May, but falling oil prices and a stable core inflation rate suggest interest rate hikes are unlikely. Falling crude oil prices are contributing to a decline in near-term Canadian bond yields. Economic indicators like GDP and hours worked have decreased over the past year, further reducing the likelihood of rate increases.
Key takeaways
- Canadian inflation may surpass 3% for May.
- Falling oil prices are easing pressure on interest rates.
- Core inflation remains stable at 2%.
Globe and Mail - Business • 2026-06-21
Canadian banking regulations are undergoing significant changes aimed at fostering competition and economic growth, with the Office of the Superintendent of Fin
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Canadian banking regulations are undergoing significant changes aimed at fostering competition and economic growth, with the Office of the Superintendent of Financial Institutions (OSFI) lowering capital buffer requirements to encourage more lending. OSFI is also streamlining the application process for new banks and encouraging greater risk-taking to support entrepreneurs. These shifts signal a move away from the historical emphasis on absolute stability towards a system that prioritizes credit availability and innovation.
Key takeaways
- OSFI lowered the Domestic Stability Buffer to 3% from 3.5%.
- Capital buffer reduction aims to free up funds for new loans.
- Application process for new banks has been expedited.
Financial Post - Banking • 2026-06-20
Forecasters anticipate the US personal consumption expenditures price index to show accelerated inflation in May, reinforcing the Federal Reserve's inclination
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Forecasters anticipate the US personal consumption expenditures price index to show accelerated inflation in May, reinforcing the Federal Reserve's inclination towards interest rate hikes. In Canada, inflation likely rose to 3% in May, primarily driven by gasoline prices, while the Bank of Canada is set to release deliberations from its recent rate-hold decision. Global economic highlights include inflation updates from Australia and Japan, and policy communication from the Bank of Japan.
Key takeaways
- US inflation gauge expected to show acceleration.
- Canadian inflation likely rose to 3% in May.
- Bank of Canada to release rate decision deliberations.
Globe and Mail - Business • 2026-06-20
Canada experienced its third consecutive quarterly population decline, attributed to federal efforts to reduce temporary residents. JPMorgan Chase & Co. is expa
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Canada experienced its third consecutive quarterly population decline, attributed to federal efforts to reduce temporary residents. JPMorgan Chase & Co. is expanding its $1.5 trillion financing pledge to Canadian companies, focusing on critical industries like energy and defence. Wealthsimple is launching a new prediction market product, Wealthsimple Predict, in partnership with Kalshi, offering trading on economic and financial events.
Key takeaways
- Canada's population declined for the third quarter in a row.
- JPMorgan is increasing financing for Canadian businesses.
- Wealthsimple introduces a new prediction market for Canadians.
Financial Post - Banking • 2026-06-19
Toronto's condo market is experiencing a prolonged correction with significant losses for owners and developers, while the Canadian dollar faces a potential dro
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Toronto's condo market is experiencing a prolonged correction with significant losses for owners and developers, while the Canadian dollar faces a potential drop below 70 U.S. cents due to shifting U.S. Federal Reserve rate expectations. Canada's banking regulator has reduced the capital buffer for major banks for the first time in three years, aiming to encourage lending. Mortgage brokers generally favour variable-rate mortgages over fixed rates.
Key takeaways
- Toronto condo market in prolonged correction.
- Canadian dollar nearing 70 U.S. cents.
- Regulator lowers bank capital buffer.
Globe and Mail - Business • 2026-06-19
Canada's banking regulator, OSFI, has lowered capital buffer requirements for major banks, freeing up billions to stimulate lending for defence, infrastructure,
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Canada's banking regulator, OSFI, has lowered capital buffer requirements for major banks, freeing up billions to stimulate lending for defence, infrastructure, and AI initiatives. This move aims to support economic adjustment at a critical juncture, despite previous increases in capital requirements. Banks now have greater certainty and capacity to deploy capital, with OSFI stating capital rules are no longer an impediment to lending.
Key takeaways
- Regulator reduced bank capital buffer to boost lending.
- Freed-up capital targets defence, infrastructure, and AI.
- Banks gain lending certainty and capacity.
Globe and Mail - Business • 2026-06-19
National home sales saw a 5.5% increase in May, the largest rise since November 2024, indicating a potential shift in the housing market despite ongoing interes
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National home sales saw a 5.5% increase in May, the largest rise since November 2024, indicating a potential shift in the housing market despite ongoing interest rate uncertainty. The Canadian reverse mortgage market has expanded significantly, now totaling nearly $11 billion, with annual growth averaging 20.9% since 2016. The article also touches on consumer protection issues following the insolvency of appliance stores and highlights a renovated Toronto property.
Key takeaways
- Home sales rose 5.5% in May, showing market strength.
- Reverse mortgages in Canada now total $10.9 billion.
- Appliance store insolvencies highlight consumer protection gaps.
Globe and Mail - Business • 2026-06-19
This business and investing news quiz covers various topics including the shift of Hockey Night in Canada to Sportsnet, Tim Hortons blaming franchisees for decl
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This business and investing news quiz covers various topics including the shift of Hockey Night in Canada to Sportsnet, Tim Hortons blaming franchisees for declining profits, and an increase in complaints against the Canada Revenue Agency. It also touches on Apple's unavoidable price increases due to chip costs and Colorado's plan to import prescription drugs from Canada. The quiz highlights changes in the media landscape and consumer goods sectors.
Key takeaways
- Hockey Night in Canada moves to Sportsnet.
- Tim Hortons blames franchisees for profit issues.
- CRA complaints increased by 27%.
Globe and Mail - Business • 2026-06-19
Citibank Canada has purchased its Mississauga global operations hub and acquired adjacent land, signaling significant expansion and hiring plans in the country.
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Citibank Canada has purchased its Mississauga global operations hub and acquired adjacent land, signaling significant expansion and hiring plans in the country. The bank intends to add hundreds of new roles in the coming years, leveraging Canada's talent pool for its global operations. This investment underscores Canada's attractiveness for foreign investment and its evolving role in global trade routes.
Key takeaways
- Citibank Canada is expanding its operations hub in Mississauga.
- The bank plans to hire hundreds of new employees in Canada.
- This expansion highlights Canada's competitive talent pool and investment appeal.
Globe and Mail - Business • 2026-06-19
The federal and British Columbia governments are investing up to $3.2 billion over 10 years to reduce homebuilding costs by cutting development charges and addr
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The federal and British Columbia governments are investing up to $3.2 billion over 10 years to reduce homebuilding costs by cutting development charges and addressing unsold condominiums. This initiative aims to lower new unit costs by up to $40,000 and convert vacant condos into affordable housing. Municipalities receiving funding will be required to reduce development charges by up to 50 per cent for three years.
Key takeaways
- Federal and BC governments commit $3.2 billion to housing.
- Development charges to be cut by up to 50%.
- Unsold condos to be converted into affordable housing.
Globe and Mail - Business • 2026-06-18
Montreal's business community is proposing to repurpose several floors of a planned $200-million downtown tower to host the headquarters of a new multinational
AI summary (cached)
Montreal's business community is proposing to repurpose several floors of a planned $200-million downtown tower to host the headquarters of a new multinational defence bank. Canada was selected to host this bank, which will finance defence projects for NATO members and allies, with several Canadian cities competing for the host city designation. The proposal aims to strengthen Montreal's bid against other cities, including Toronto, which has also secured a potential headquarters location.
Key takeaways
- Montreal proposes tower space for defence bank HQ.
- Canada selected to host multinational defence bank.
- Multiple Canadian cities compete for host city status.