Latest news in Industry News

Morgan Stanley 3Q profit rises 25%, helped by trading

The investment bank benefited from market rebounds in the summer

By: Ken Sweet, The Associated Press
October 15, 2020 October 15, 2020
10:01

ISS to boost Canadian board diversity benchmarks

Firm plans to set 30% as new standard for female board representation

By: James Langton
October 14, 2020 October 14, 2020
16:51

Grayhawk hires private banker to lead Quebec biz

The family office firm recently announced a deal with Sagard Holdings

By: Rudy Mezzetta
October 14, 2020 October 14, 2020
14:58

Poor nations get extension to repay debt

The G20 suspends debt repayments until June 2021

By: Martin Crutsinger and Aya Batrawy, The Associated Press
October 14, 2020 October 14, 2020
14:01

Bank of America profit falls 15.6% in third quarter

Low interest rates cut into the U.S. bank's earnings

By: Ken Sweet, The Associated Press
October 14, 2020 October 14, 2020
10:37

Goldman Sachs profits beat expectations

The U.S. bank's earnings jumped sharply in Q3, fuelled by trading, less in loan-loss provisions

By: Ken Sweet, The Associated Press
October 14, 2020 October 14, 2020
10:26

Wells Fargo posts $2B profit in Q3, reversing Q2 loss

The result is less than half what the U.S. bank made in last year's third quarter

By: Matt Ott, The Associated Press, The Associated Press
October 14, 2020 October 14, 2020
10:07

Wealthsimple raises $114 million in financing round

Canadian fintech reaches "unicorn" status with a valuation of $1.4 billion

By: IE Staff
October 14, 2020 October 14, 2020
09:51

Scotiabank sells its operations in Antigua and Barbuda

The sale involves two branches and fewer than 75 employees

By: IE Staff
October 13, 2020 October 13, 2020
16:41

Man and woman sitting in cafeteria discussing finance for the month. Stressed couple looking at bills sitting in restaurant wearing uniform apron. Cafe staff sitting together looking at expenses and bills. (Man and woman sitting in cafeteria discussi

Liberals revamp rent relief for businesses hit by Covid-19, expand loan program

The move comes after the country added 378,000 jobs in September

By: IE staff, with files from Canadian Press
October 9, 2020 October 9, 2020
15:39

LSE sells Italian exchange to enable Refinitiv deal

The transaction is designed to allay regulatory concerns about competition

By: James Langton
October 9, 2020 October 9, 2020
15:28

NDP calls for excess profit tax

Jagmeet Singh is urging the government to at least double the tax rate on companies’ excess profits

By: Greg Dalgetty
October 9, 2020 October 9, 2020
11:16

A gavel rests on its sounding block with a several law books and a justice scale out of fucus in the background. A cool blue cast dominates the scene. (A gavel rests on its sounding block with a several law books and a justice scale out of fucus in t

TDAM loses bid to block class action

The Ontario Divisional Court has rejected TDAM’s leave to appeal an earlier ruling

By: IE Staff
October 9, 2020 October 9, 2020
10:23

JPMorgan puts $30B toward fixing banking’s systemic racism

The U.S. bank will extend billions in loans to Black and Latino homebuyers and business owners

By: Ken Sweet, The Associated Press
October 9, 2020 October 9, 2020
10:10

BMO adds new interactive tool to WealthPath

New feature allows clients to test financial scenarios

By: IE Staff
October 8, 2020 October 8, 2020
12:03

Morgan Stanley still on a shopping spree

The bank announced plans to buy Eaton Vance, an investment management firm, on Thursday

By: The Associated Press
October 8, 2020 October 8, 2020
10:49

GMP Capital shareholders approve Richardson GMP deal

The transaction is expected to close within 30 days

By: Mark Burgess
October 6, 2020 October 6, 2020
14:57

Fed’s Powell: Lack of further stimulus imperils recovery

Too little support would create “unnecessary hardship for households and businesses,” the Fed chair says

By: Christopher Rugaber, The Associated Press, The Associated Press
October 6, 2020 October 6, 2020
13:56

New committee on corporate governance launches

The group will provide updated guidance on diversity and inclusion and sustainability, among other matters

By: IE Staff
October 6, 2020 October 6, 2020
11:00

Hand putting Coins in glass jar with retro alarm clock for time to money saving for retirement

New formula may reduce DB plan payouts

Pension plans will use a new method for calculating commuted values as of Dec. 1

By: Rudy Mezzetta
October 6, 2020 October 6, 2020
10:48

Toronto home sales surged 42% to set new September record

More than 11,000 existing homes were sold at an average price of $960,772

By: The Canadian Press
October 6, 2020 October 6, 2020
10:02

New IAFP program lets CFAs fast-track to planner designation

The organization is recognizing the education and skills that CFAs already possess

By: IE Staff
October 5, 2020 October 15, 2020
11:40

Canadians with Covid-19 or caring for those with it can apply for federal money today

Applications for the new Canada Recovery Benefit open next week

By: Lee Berthiaume
October 5, 2020 October 5, 2020
10:11

Feds top up relief fund for businesses

The federal government is adding $600 million to a fund to help small- and medium-sized businesses

By: The Canadian Press
October 2, 2020 October 2, 2020
12:25

Making RRIF withdrawals during the pandemic

A tax expert at the IAFP symposium discussed the factors to consider

By: Michelle Schriver
October 2, 2020 October 2, 2020
10:13