Insurer will pay GreenOak shareholders $195 million in cash in exchange for a 56% stake in the new firm
Higher debt and slow revenue growth will result in a faster than previously forecast increase of Ontario’s debt burden
Toronto index gains 115 points
Oil prices weighed on exports
Q4 profit up 8% from last year to $566 million, wealth management net income up 14%
Lower growth prospects expected to reinforce Stephen Poloz’s strategy of moving very gradually on rate increases
Dow drops nearly 800 points on recession fears
Solid quarterly performance caps a “very strong year”
Provisions for credit losses rise to $264 million
Tech and consumer sectors point to start of good shopping season