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Category: Company Profile (17 posts)

Amazon to add another 3,500 employees to its Canadian work force

Amazon to add another 3,500 employees to its Canadian work force

September 28, 2020 | Posted by: Maurice Kwok

Amazon.com Inc. says it will hire 3,500 new corporate and tech-focused employees across Canada in the coming years, including 3,000 in downtown Vancouver, which would bring its total employment there ...

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Bank of Nova Scotia misses in Q3 as provisions reach $2.18 billion

Bank of Nova Scotia misses in Q3 as provisions reach $2.18 billion

August 26, 2020 | Posted by: Maurice Kwok

Bank of Nova Scotia fell short of profit expectations in its fiscal third quarter as its international banking operations swung to a loss and amid a double-digit increase in provisions for credit loss ...

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Bank of Montreal profit beats forecasts even as loan-loss provisions top $1-billion

Bank of Montreal profit beats forecasts even as loan-loss provisions top $1-billion

August 25, 2020 | Posted by: Maurice Kwok

Bank of Montreal reported better-than-expected third-quarter profit, driven by higher revenue from wealth management and capital markets even as the bank set aside more than $1-billion to cover potent ...

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RBC, National Bank warn trying times ahead despite profit gains

RBC, National Bank warn trying times ahead despite profit gains

August 24, 2020 | Posted by: Maurice Kwok

Rebounding third-quarter profits at Royal Bank of Canada and National Bank of Canada nearly reached prepandemic levels, though the chief executives of both lenders warned there are likely more trying ...

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The Big Six Canadian Banks Profits in Q 2 Drop

The Big Six Canadian Banks Profits in Q 2 Drop

May 28, 2020 | Posted by: Maurice Kwok

Bank of Montreal profit drops more than 50% as credit losses loom Bank of profit drops more than 50% as credit loss loom. BMO set aside $1.12 billion for future loan losses, vastly higher than $176 m ...

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RBC profit falls 54% as loan-loss provisions spike amid COVID-19 pandemic

RBC profit falls 54% as loan-loss provisions spike amid COVID-19 pandemic

May 27, 2020 | Posted by: Maurice Kwok

Royal Bank of Canada’s second-quarter profit fell 54 per cent as the bank built up massive reserves to cover potential losses on loans as a result of the coronavirus pandemic. Canada's largest ...

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Scotiabank profit drops 41% as loan-loss provisions soar amid pandemic fallout

Scotiabank profit drops 41% as loan-loss provisions soar amid pandemic fallout

May 26, 2020 | Posted by: Maurice Kwok

Bank of Nova Scotia’s second-quarter profit plunged by 41 per cent as funds earmarked to cover loan losses soared in response to the coronavirus pandemic. Scotiabank is the first major Canadian ...

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Ottawa says telecom companies must lower wireless prices or face regulatory consequences

Ottawa says telecom companies must lower wireless prices or face regulatory consequences

March 6, 2020 | Posted by: Maurice Kwok

The three national wireless carriers need to cut the price of their mid-tier plans by 25 per cent over two years or face further regulatory action, the federal government says, as it lays out the deta ...

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CIBC posts profit gain, hikes dividend as bank shuffles executive ranks, books restructuring charge

CIBC posts profit gain, hikes dividend as bank shuffles executive ranks, books restructuring charge

February 27, 2020 | Posted by: Maurice Kwok

Canadian Imperial Bank of Commerce is taking a $339-million restructuring charge, cutting nearly 5 per cent of its staff and moving top executives to new roles, even as it posted a 3-per-cent rise in ...

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RBC hikes dividend as profit climbs 11% on capital markets, retail banking strength

RBC hikes dividend as profit climbs 11% on capital markets, retail banking strength

February 26, 2020 | Posted by: Maurice Kwok

Royal Bank of Canada raised its profit by 11 per cent with a standout quarter from its capital markets division and encouraging signs of steadying loan losses, setting a high bar to start the fiscal f ...

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Scotiabank reports $2.3-billion first-quarter profit, tops expectations by analysts

Scotiabank reports $2.3-billion first-quarter profit, tops expectations by analysts

February 25, 2020 | Posted by: Maurice Kwok

Bank of Nova Scotia is optimistic its international ventures are headed for success after a recent overhaul saw it slash and simplify its overseas operations. The Toronto-based bank has spent recent ...

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Tim Hortons aims to ‘refocus’ in year ahead after 2019 performance disappoints

Tim Hortons aims to ‘refocus’ in year ahead after 2019 performance disappoints

February 10, 2020 | Posted by: Maurice Kwok

Tim Hortons is planning to 'refocus' in the year ahead, after dragging down sales growth of parent company Restaurant Brands International Inc. in 2019. RBI raised its dividend on Monday after report ...

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Scotiabank to record $175-million gain in first-quarter results

Scotiabank to record $175-million gain in first-quarter results

January 7, 2020 | Posted by: Maurice Kwok

Bank of Nova Scotia will record an after-tax gain of C$175-million (not final figure yet) in its fiscal first-quarter results, driven by the sale of a large part of its stake in a bank in Thailand, bu ...

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Bank stocks turn volatile as loan losses rise under new rules

Bank stocks turn volatile as loan losses rise under new rules

December 30, 2019 | Posted by: Maurice Kwok

For investors in Canadian banks, volatility has arrived. Monthly returns for Canadian bank shares have surged or fallen by more than 5 per cent, six times in the past 15 months. That’s an unusu ...

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RBC experiencing slow growth sting as profit dips; chief executive warns of ‘challenging’ days ahead

RBC experiencing slow growth sting as profit dips; chief executive warns of ‘challenging’ days ahead

December 5, 2019 | Posted by: Maurice Kwok

Royal Bank of Canada is starting to feel the sting of slowing economic growth and trade, as fourth-quarter profit slipped and its chief executive officer warned of “challenging” days ahead ...

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BMO to trim work force as restructuring charge hits bank’s profit

BMO to trim work force as restructuring charge hits bank’s profit

December 2, 2019 | Posted by: Maurice Kwok

Bank of Montreal’s drive to get leaner is taking a heavy toll on short-term profit, as the bank took the latest – and largest – in a series of restructuring charges that will speed u ...

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Health Canada suspends CannTrust’s licences to grow, process cannabis

Health Canada suspends CannTrust’s licences to grow, process cannabis

September 17, 2019 | Posted by: Maurice Kwok

Health Canada has suspended CannTrust Holdings Inc.’s cannabis growing and processing licences, the company said Tuesday. The move comes three months after federal investigators discovered Cann ...

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