Latest news in Industry News

Federal reserve building, Washington DC

New BoC deputy governor, U.S. Fed nominees announced

Rhys Mendes will become Bank of Canada deputy governor in July while Biden has made two Federal Reserve nominations

Sun Life building and Place Ville Marie, downtown Monteral

Sun Life Financial sees first-quarter earnings rise to $806 million

Participating life helps drive Canadian insurance sales, but wealth sales drop 23%

Inflation written newspaper

Inflation likely slowed again in April, but economists say wage growth a top concern

Canada’s April inflation figure anticipated to be well below the 5.2% wage growth

Big Ben, Westminster Bridge on River Thames in London, the UK. English symbol. Lovely puffy clouds, sunny day

U.K. economy grows sluggishly in 1st quarter as double digit inflation curbs consumer spending

No recession but output dropped in several sectors affected by strikes

Inflation, growth of food sales, growth of market basket or consumer price index concept. Shopping basket with foods on arrow.

Grocery rebate bill receives royal assent

The CRA will deliver the one-time GST credit boost to Canadians in July


Insolvencies in March up 28.3% year over year, report says

The increase came as Canadians faced higher interest rates

Manulife head office building in Toronto, Canada. Manulife is a Canadian multinational insurance company.

Manulife reports net income of $1.4B in first results under new standards

Within wealth management, retail net inflows dropped 80%

Wall street sign in New York with American flags and New York Stock Exchange background.

CI Financial sells 20% stake in U.S. business

Proceeds of $1.34-billion deal will pay down debt

The facade of the Royal Exchange in the City of London

BoE raises U.K. interest rates to highest level since 2008

The hike — the 12th in a row — puts more pressure on borrowers

Businessman hand showing financial report on table

Great West Lifeco sees net earnings drop, base earnings rise in first quarter

Wealth management and individual insurance sales dropped at iA Financial

Wall street sign in New York with American flags and New York Stock Exchange background.

Goldman settles gender discrimination suit for US$215 million

The lawsuit, initially filed in September 2010, was set to go to trial next month

Close-up Of Businesswoman Stopping The Effect Of Domino With Hand

Canaccord warns regulatory issue puts snag in takeover offer

Management group no longer ruling out individual asset sales

Judge looks at papers

Quebec portion of CIBC class action settled

Deal resolves claims over mortgage prepayment charges

Brooklyn Bridge and the downtown Manhattan skyline in New York City

U.S. adds a solid 253,000 jobs despite Fed’s rate hikes

Strong growth in healthcare, restaurants and bars

BoC might have to rethink rate pause as unemployment remains very low: economists

Average hourly wages rose 5.2% but hiring is not happening as broadly

stock market data

RF Capital to focus on recruiting, M&A to boost growth

Richardson Wealth parent firm posted $5.3-million net loss in first quarter

Bank of Canada facade

BoC can address banking system stress, even as it fights inflation: Macklem

Central bank is prepared to raise interest rates further if required

Financial accounting business sheet calculator

IGM Financial assets, wealth management revenues fell in Q1

Net flows decreased by 60% to $990 million from $2.5 billion a year earlier

  • By: IE Staff
  • May 4, 2023 May 4, 2023
  • 12:20
The Canada Revenue Agency (CRA) headquarters Connaught Building is pictured in Ottawa on Monday, Aug. 17, 2020. The Canada Revenue Agency won't say when it expects its website to return to normal. CRA Tax

CRA, union reach tentative deal, ending strike of 35,000 workers

The agreement includes wage increases plus a pensionable one-time lump sum payment of $2,500

Eurotower in Frankfurt am Main before sundown

European Central Bank slows pace of rate hikes but vows more

The quarter-point increase comes a day after the Federal Reserve's identical move

TD bank. stock photo

TD Bank Group calls off First Horizon deal

The cancellation of the transaction comes amid upheaval in the U.S. banking sector

40556994 - close up image of stock market data on a computer monitor.

S&P cuts CI Financial’s credit rating to junk

Following CI's request to withdraw coverage, S&P dropped its rating for the asset manager

Technology security concept. Modern safety digital background. Protection system

Data breach exposed Mackenzie clients’ personal data but not holdings, firm says

InvestorCOM, a vendor of Mackenzie Investments, had data exposed when hackers targeted a secure file transfer service

RBC logo Royal Bank of Canada sign

HSBC expects later close of Canadian division sale to RBC

Both the Competition Bureau and OSFI are reviewing the transaction, which requires approval from the finance minister

A bear rests on top of a downward pointing stock chart.

Client satisfaction tumbles with markets: J.D. Power

Lack of personalized advice created a void filled by negative returns, the latest survey says

  • By: IE Staff
  • May 2, 2023 May 2, 2023
  • 10:56