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☆ Canadian Olympian Paul dies in car crash
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

Alexandra Paul and Mitchell Islam perform in the senior dance free program at the Canadian Figure Skating Championships in Ottawa January 11, 2014. REUTERS/Chris Wattie/File photo Acquire Licensing RightsAug 27 (Reuters) - Former Olympic figure skater Alexandra Paul has died at the age of 31, Skate Canada said in a statement. Paul, who represented Canada at the Sochi 2014 Games and finished 18th in the ice dance competition, died in a car crash on Tuesday, Canadian media reported. "It is with a heavy heart that Skate Canada announces the sudden passing of a cherished member of our skating community, Alexandra Paul," Skate Canada said in a statement earlier this week. Paul won a silver medal at the World Junior Figure Skating Championships in 2010 and retired from competitive skating in 2016.

Persons: Alexandra Paul, Mitchell Islam, Chris Wattie, Paul, Aadi Nair, Ed Osmond Organizations: REUTERS, Skate, Canada, Thomson Locations: Ottawa, Skate Canada, Canada, Sochi, Bengaluru

☆ Toronto-Dominion Bank's quarterly profit falls as loan-loss provisions rise
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: 1 min

Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsAug 24 (Reuters) - Toronto-Dominion Bank (TD.TO) on Thursday reported a drop in third-quarter profit as the Canadian lender set aside more rainy-day funds to cover losses from borrowers who might fall behind on loan payments. The bank reported adjusted net income of C$3.73 billion ($2.76 billion), or C$1.99 per share, in the three months ended July 31, compared with C$3.81 billion, or C$2.09 apiece, a year earlier. ($1 = 1.3538 Canadian dollars)Reporting by Pritam Biswas in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Wattie, Pritam Biswas, Shweta Agarwal Organizations: Dominion Bank, REUTERS, Thomson Locations: Toronto, Ottawa , Ontario, Canada, Bengaluru

☆ TD expects penalties from US probes on money laundering
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsCompanies Toronto-Dominion Bank FollowTORONTO, Aug 24 (Reuters) - TD Bank Group (TD.TO) on Thursday said it expects fines and "non-monetary" penalties related to investigations by U.S. authorities over its anti-money laundering compliance program. "The bank is cooperating with such authorities and is pursuing efforts to enhance its Bank Secrecy Act/anti-money laundering compliance program," TD said in the filing. "What I can say ... we are pursuing efforts to enhance our U.S. AML compliance program," he told analysts. The lender scrapped its planned $13.4 billion acquisition of U.S. regional lender First Horizon earlier this year, a move that was cheered by investors amid the U.S. regional banking crisis.

Persons: Chris Wattie, Canada's, Bharat Masrani, TD, Gabriel Dechaine, Denny Thomas, Nivedita Balu, Deepa Babington Organizations: Dominion Bank, REUTERS, Rights Companies, TORONTO, Bank Group, U.S, U.S . Department of Justice, Bank, First, National Bank, DOJ, Thomson Locations: Toronto, Ottawa , Ontario, Canada, Rights Companies Toronto, U.S

☆ Shopify's ecosystem is about to face a major test: Large partners like Klaviyo are eying an IPO, while smaller startups may struggle to compete
▼ + stars: | 2023-08-14 | by ( Madeline Stone | ) www.businessinsider.com time to read: +7 min

As Shopify's app ecosystem matures, it's becoming a make-or-break moment for some developers and partners. If they succeed in the public markets, it's a positive sign for the Shopify ecosystem. Upcoming IPOs will be a testSome Shopify ecosystem companies are eying the public markets, even in a year when IPO activity has been slow. That will make it even more important for Shopify's app partners to ensure their solution is differentiated from competitors. "This shared focus is why we're committed to ensuring a healthy Shopify ecosystem that fosters innovation, scale, and speed."

Persons: Shopify, it's, it'll, Amit Jhawar, Ben Parr, Parr, lockdowns, Sid Murlidhar, we're, Chris Wattie, Jhawar, Glen Coates, It'll, Chris Grouchy, Convictional, Roger Kirkness, Rick Watson Organizations: Shopify, Reuters, Shopify Ventures, Global, RMW Commerce Consulting Locations: Klaviyo, Ottawa , Ontario, Canada, Shopify

☆ Canopy Growth posts smaller Q1 core loss, reiterates going concern doubts
▼ + stars: | 2023-08-09 | by ( Sourasis Bose | ) www.reuters.com time to read: +2 min

A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 . REUTERS/Chris Wattie/File PhotoAug 9 (Reuters) - Canopy Growth (WEED.TO) again raised doubts about its ability to stay afloat as the Canadian pot producer's loss-making streak continued in the first quarter. Canopy had first raised the going concern doubts in June. The company is also facing an investigation from the U.S. Securities and Exchange Commission over the reporting of revenue from BioSteel. The company's adjusted core loss narrowed to C$57.8 million for the three months ended June 30, compared with a loss of C$79 million a year earlier, aided by cost reduction.

Persons: Chris Wattie, Judy Hong, Sourasis Bose, Shinjini Ganguli, Shilpi Majumdar Organizations: REUTERS, U.S . Securities, Exchange Commission, Thomson Locations: Smiths Falls , Ontario, Canada, , Ontario, BioSteel, Verona , Virginia, Bengaluru

☆ Shopify beats quarterly revenue estimates
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

The logo of Shopify is seen outside its headquarters in Ottawa, Ontario, Canada, September 28, 2018. REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), beat Wall Street estimates for revenue in the second quarter on Wednesday, as more merchants used its online tools and targeting services to attract customers. Total revenue grew 31%, to $1.7 billion in the quarter ended June, compared with analysts' estimate of $1.62 billion, according to Refinitiv data. Gross merchandise volume - or the total value of orders facilitated through the Shopify platform - grew 17%, to $55 billion, compared to an estimate of $53.34 billion. Reporting by Yuvraj Malik and Akshita Toshniwal in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Wattie, Gross, Yuvraj Malik, Akshita, Pooja Desai Organizations: REUTERS, Wall, U.S, Thomson Locations: Ottawa , Ontario, Canada, Bengaluru

☆ Shopify forecasts solid revenue growth on higher prices, more signups
▼ + stars: | 2023-08-02 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. In the third quarter, the company expects revenue growth at "low-twenties" percentage and "mid-twenties" when adjusted for changes related to the divestiture of its logistics business. Following the results, Shopify's U.S.-listed shares, which have surged nearly 80% so far this year, added 7% before settling marginally lower in extended trading. In the second quarter, total revenue grew 31% to $1.69 billion and beat analysts' average estimate of $1.62 billion. "This could be a turnaround quarter for Shopify," said Michael Schulman, chief investment officer at Running Point Capital Advisors.

Persons: Chris Wattie, We're, Harley Finkelstein, Shopify, Michael Schulman, Yuvraj Malik, Akshita, Pooja Desai, Arun Koyyur Organizations: REUTERS, Merchants, Running, Capital Advisors, Thomson Locations: Ottawa , Ontario, Canada, Shopify, U.S, Bengaluru

The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. National Bank said in a statement it will acquire the C$1 billion ($752 million) loan portfolio made up of technology, life science and global fund banking sectors. National Bank already has made a number of bets in the tech space in Canada investing in fintech firms such as KOHO, Synctera and Flinks over the years. Veritas Investment Research analyst Nigel D'Souza said the deal does not restrict National Bank from acquiring Laurentian Bank (LB.TO), but that deal was now less likely. "We continue to view National Bank as the best fit among the Big Six banks for Laurentian," D'Souza said.

Persons: Chris Wattie, Michael Denham, Denham, Tuyen Vo, Nigel D'Souza, D'Souza, Jaiveer Singh, Will Dunham, Krishna Chandra Eluri, Shilpi Majumdar Organizations: National Bank of Canada, REUTERS, National Bank, National Bank's Technology, Innovation Banking, Bank, Veritas Investment Research, Laurentian Bank, Big, Thomson Locations: Ottawa , Ontario, Canada, U.S, Silicon, Bengaluru

☆ Bank of Canada rate-cut bets recede as core inflation proves sticky
▼ + stars: | 2023-04-26 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/2] A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. The BoC has made greater progress in slowing inflation than some major peers, including the Federal Reserve and European Central Bank. Still, the rise in inflation expectations could be another reason for the Canadian central bank to be cautious about easing rates. The central bank has left its benchmark interest rate on hold for two straight meetings after lifting it to a 15-year high of 4.50%. Those rate hikes have contributed to inflation, by driving up mortgage borrowing costs, but the main aim is to slow the economy.

[1/5] A sign is pictured in front of the Canada Revenue Agency (CRA) national headquarters in Ottawa, Ontario, Canada March 13, 2017. REUTERS/Chris WattieOTTAWA, April 19 (Reuters) - About 155,000 federal workers in Canada walked off the job on Wednesday after failing to reach a deal for higher wages and work-from-home guarantees, a strike that affects a range of public services from tax returns to passport renewals. The Public Service Alliance of Canada (PSAC) union said contract negotiations would continue, and Liberal Prime Minister Justin Trudeau stressed the urgency of resolving the dispute. The contract negotiations cover two main groups of employees: 120,000 workers under the Treasury Board and more than 35,000 revenue agency workers. Tax agency workers want a pay bump of 22.5% over three years, while the Treasury Board workers are seeking a 13.5% pay rise over three years.

REUTERS/Chris WattieOTTAWA, April 19 (Reuters) - About 155,000 federal workers in Canada walked off the job on Wednesday after failing to reach a deal for higher wages and work-from-home guarantees, a strike that affects a range of public services from tax returns to passport renewals. The Public Service Alliance of Canada (PSAC) union and the federal government said negotiations are ongoing, and Liberal Prime Minister Justin Trudeau stressed the urgency of resolving the dispute. The contract negotiations cover two main groups of employees: 120,000 workers under the Treasury Board and more than 35,000 revenue agency workers. Tax agency workers want a pay bump of 22.5% over three years, while the Treasury Board workers are seeking a 13.5% pay rise over three years. "There's obviously still the concern that this contract could set a precedent for other public sector union negotiations," he said.

☆ Take a look back at 24 Sussex Drive, the iconic residency of the Canadian PM now abandoned and overrun with rodents
▼ + stars: | 2023-04-16 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

24 Sussex Drive, the official residence of the Canadian prime minister, is in total disrepair. Canadian Prime Minister Jean Chretien meets with Premiers and Territorial leaders Chretien's residence in Ottawa, February 4, 2003. Canadian Prime Minister Paul Martin (L) holds a First Ministers' meeting at his official residence in Ottawa, January 30, 2004. Conservative leader and Canada's Prime Minister Stephen Harper reacts in between songs while practicing with his band "Herringbone" at 24 Sussex Drive, Harper's official residence, in Ottawa April 22, 2011. Since taking his post as head of state, prime minister Trudeau has opted to live in Rideau Cottage, just less than a mile away from 24 Sussex Drive.

[1/2] People walk with their luggage on Roxham Road before crossing the US-Canada border into Canada in Champlain, New York, U.S., February 14, 2018. REUTERS/Chris Wattie/File PhotoOTTAWA, March 24 (Reuters) - U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau struck a deal aimed at stopping asylum seekers from traversing the shared U.S.-Canada land border via unofficial crossings, an official U.S. document showed on Friday. Biden will address parliament on Friday, after an introduction by Trudeau, and the two leaders will hold a joint news conference afterward. Canada has been pushing the U.S. to extend the deal for a while. In recent months, there has been a sharp increase in asylum seekers entering Canada through unofficial border crossings.

☆ Bank of Canada and Fed head for historic divergence, in a blow to loonie
▼ + stars: | 2023-03-09 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/2] A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. A lower expected peak for Canadian rates has pressured the Canadian dollar against its U.S. counterpart. ,Canadian rates have peaked below U.S. rates in the three major tightening cycles since the start of the millennium, with the gap ranging between 50 and 75 basis points. "Poring over the national accounts, it's increasingly clear that interest-sensitive demand has wilted in Canada," Warren Lovely and Taylor Schleich, strategists at National Bank of Canada, said in a note after the recent GDP data. Still, there could be a limit to how much interest-rate divergence the BoC will allow, say analysts.

The movement of asylum-seekers into Canada from the United States has picked up since Canada lifted COVID-19 pandemic restrictions in late 2021, a trend mirroring global displacement. More than 39,000 refugees entered Canada last year via unofficial crossings, the vast majority via Roxham Road linking Quebec and New York State. Canada is a signatory to the international Refugee Convention under which Canada must adjudicate most refugee claims with limited exceptions. Speaking to reporters on Wednesday, Trudeau said his government had been trying to "close" Roxham Road for years by rewriting the STCA. Poilievre referenced a COVID-19 policy under which Canada turned back asylum-seekers crossing between ports of entry, a policy that was being challenged in court when it was rescinded.

"Today's data shows that inflation is coming down, but it's lingering and is stickier than most assume," he said. Treasury yields rose, suggesting higher rates ahead for the long term, with the benchmarket 10-year yield up 10.2 basis points to 3.595%. The two-year note , which often moves in step with rate expectations, rose 3.2 basis points to 4.344%. Oil prices rose but both benchmarks were set for a weekly loss as worries over a weak economic outlook in China, Europe and the United States weighed on oil demand. Gold prices rose despite an uptick in the dollar and Treasury yields as some investors still expect the Fed will slow the pace of rate hikes from early next year.

Yields on U.S. Treasury securities, which had dropped sharply after the Fed statement was released, turned higher. The 2-year note - the bond maturity most sensitive to Fed policy expectations - was up 6 basis points to about 4.61%. The document "implied that (the Fed) may be aiming for a higher medium-term level for the fed funds rate than currently expected," Nelson said. The language in the policy statement acknowledged the broad debate that has emerged around the Fed's policy tightening, and opened a new stage in that discussion. The Fed's statement "was a lot more definite about a possible downshift than I thought it would be.

☆ Canada records C$6.33 billion budget surplus over first four months of 2022-2023
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Canadian flag flies in front of the Peace Tower on Parliament Hill in Ottawa, Ontario, Canada, March 22, 2017. REUTERS/Chris WattieOTTAWA, Sept 23 (Reuters) - Canada recorded a C$6.33 billion ($4.67 billion) budget surplus for the first four months of the 2022/23 fiscal year, helped by higher tax revenues and the ending of coronavirus support measures, the finance ministry said on Friday. By comparison, Canada posted a C$47.33 billion deficit in the period from April to July 2021. On a monthly basis, Canada posted a deficit of C$3.87 billion in July, compared to the C$10.86 billion deficit recorded a year ago. ($1 = 1.3558 Canadian dollars)(Reporting by Ismail Shakil, editing by Steve Scherer)((ismail.shakil@tr.com)Register now for FREE unlimited access to Reuters.com RegisterOur Standards: The Thomson Reuters Trust Principles.

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