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☆ India-Canada tensions hit crisis point after assassination allegations: Here's what you need to know
▼ + stars: | 2023-09-19 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

A security personnel stands guard outside the Canadian High-Commision in New Delhi, India, September 19, 2023. In retaliation, India expelled a senior Canadian diplomat after summoning Canada's High Commissioner to the country, the foreign ministry said. This came just hours after Foreign Minister Melanie Joly announced that Ottawa had expelled a top Indian diplomat. Adnan Abidi | ReutersPrior to the Group of 20 nations' leaders' summit two weekends ago, Ottawa had paused talks on a proposed trade treaty with Indian Prime Minister Narendra Modi's Bharatiya Janata Party government. India's Prime Minister Narendra Modi (R) shakes hand with Canada's Prime Minister Justin Trudeau ahead of the G20 Leaders' Summit in New Delhi on September 9, 2023.

Persons: Adnan Abidi, Hardeep Singh, Justin Trudeau, Canada's, Melanie Joly, Trudeau, Moninder Singh, Nanak, Hardeep Singh Nijjar, Chris Helgren, Joly, it's, Narendra Modi's, Subrahmanyam Jaishankar, Indira Gandhi, Narendra Modi, Evan Vucci Organizations: Canadian, Reuters, Canadian Government, Ottawa, Indian, Narendra Modi's Bharatiya Janata Party government, India, of, India's, Canada's, Afp, Getty Locations: New Delhi, India, Reuters India, Canadian, Canada, British Columbia, Ottawa, Indian, Sikh, Surrey, Australia, United Kingdom, China, Brampton, of Canada

☆ India entry into geopolitical storm will be costly
▼ + stars: | 2023-09-19 | by ( Una Galani | ) www.reuters.com time to read: +4 min

MUMBAI, Sept 19 (Reuters Breakingviews) - India may pay a price from getting caught in the eye of a geopolitical storm, but it may be a small one. New Delhi has dismissed as “absurd” Canada’s allegation of its involvement in the June murder in British Columbia of a Sikh separatist leader that India had branded a “terrorist”. A trade deal with India, now stalled, may have helped Ottawa pivot away from the People’s Republic a little bit faster. But India accounted for barely $6.5 billion, or less than 1% of Canada’s trade with the world in 2020. Canada also expelled India's top intelligence agent following the row, while India expelled a senior Canadian diplomat.

Persons: Sajjan Jindal’s, Joe Biden, Narendra Modi, Jamal Khashoggi, Crown Prince Mohammed bin Salman, –, Tesla, Hardeep Singh Nijjar, Justin Trudeau, Nijjar, “, Trudeau, Lisa Jucca, Streisand Neto Organizations: Reuters, Resources, Crown, Canada, Apple, U.S . National Security Council, Thomson Locations: MUMBAI, India, New Delhi, British Columbia, China, Ottawa, People’s Republic, American, Vancouver, Australia, Canada, United States, Delhi, Saudi Arabia, Saudi, Istanbul . U.S, Canadian

The Sikh religion was founded in Punjab in the late 15th century and currently has about 25 million followers worldwide. Sikh separatists demand that their homeland Khalistan, meaning "the land of the pure", be created out of Punjab. The Khalistan movement is considered a security threat by the Indian government. In April this year, India arrested a self-styled preacher and Sikh separatist Amritpal Singh for allegedly reviving calls for Khalistan, sparking fears of new violence in Punjab. Canadian Trade Minister Mary Ng is postponing a planned trade mission to India.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, Justin Trudeau, Indira Gandhi, Sant Jarnail Singh Bhindranwale, Gandhi, Amritpal Singh, Narendra Modi, Trudeau, Mary Ng, Rupam Jain, Shivam Patel, YP Rajesh, Mark Heinrich Our Organizations: REUTERS, Canadian, Air, Air India Boeing, Indian, India . Canadian Trade, YP, Thomson Locations: Surrey, British Columbia, Canada, DELHI, India, Punjab, New Delhi, Air India, Britain, Australia, U.S

Prime Minister Justin Trudeau of Canada on Tuesday firmly rejected the Indian government’s denial of any involvement in the assassination of a Sikh dissident in Canada, calling on India to take his country’s allegations seriously. “We are not looking to provoke or escalate,” Mr. Trudeau told reporters in Ottawa. “We are simply laying out the facts as we understand them and we want to work with the government of India.”On Monday, the prime minister stunned Canadians when he told the House of Commons that “agents of the Indian government” had been behind the shooting in June of Hardeep Singh Nijjar, a Sikh separatist leader and a Canadian citizen, near a Sikh temple in suburban Vancouver, British Columbia.

Persons: Justin Trudeau of, Mr, Trudeau, ”, Hardeep Singh Nijjar Organizations: Justin Trudeau of Canada, of Locations: Canada, India, Ottawa, Canadian, Vancouver, British Columbia

OTTAWA, Sept 19 (Reuters) - Canada is not trying to provoke India by suggesting it was linked to the murder of a Sikh separatist leader, but wants New Delhi to address the issue properly, Prime Minister Justin Trudeau said on Tuesday. "The prime minister hasn't provided any facts. We need to have the evidence that allowed the prime minister to come to the conclusions yesterday," Conservative Party leader Pierre Poilievre told reporters. [1/5]Canada's Prime Minister Justin Trudeau speaks during Question Period in the House of Commons, on Parliament Hill in Ottawa, Ontario, Canada September 19, 2023. New Delhi, which urged Ottawa to act against anti-Indian elements, has long been unhappy over Sikh separatist activity in Canada.

Persons: Justin Trudeau, Trudeau, Hardeep Singh Nijjar, hasn't, Pierre Poilievre, Blair Gable, Balraj, Trudeau's, Mukhbir Singh, Stephen Brown, Singh, Nijjar, David Ljunggren, Steve Scherer, Susan Heavey, Jonathan Oatis, Marguerita Choy Organizations: Conservative, Ottawa, Conservative Party, Canada, U.S, Canada's, REUTERS, Canadian Broadcasting Corp, Indian, Sikh Organization of Canada, National Council of, State Department, Thomson Locations: OTTAWA, Canada, India, New Delhi, British Columbia, Canadian, Ottawa , Ontario, Ottawa, India's, Punjab, Pakistan, Australia, Britain

A sign outside the Guru Nanak Sikh Gurdwara temple is seen after the killing on its grounds in June 2023 of Sikh leader Hardeep Singh Nijjar, in Surrey, British Columbia, Canada September 18, 2023. Prime Minister Justin Trudeau announced on Monday that domestic intelligence agencies were actively pursuing credible allegations tying New Delhi's agents to the shooting of Hardeep Singh Nijjar, 45, in June. "We've been working with the U.S. very closely, including on the public disclosure yesterday," the source said. India quickly dismissed Trudeau's assertion as absurd, and said it was expelling a Canadian diplomat, a tit-for-tat move after Canada expelled India's top intelligence figure on Monday. New Delhi, which has urged Ottawa to act against anti-Indian elements, has long been unhappy over Sikh separatist activity in Canada.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, Justin Trudeau, We've, Trudeau, Roland Paris, We're, Pierre Poilievre, Jesse Singh, Singh, Nijjar, Steve Scherer, David Ljunggren, David Brunnstrom, Chizu Nomiyama, Jonathan Oatis Organizations: REUTERS, Rights, U.S, Tuesday, Canada, India's, University of Ottawa, State Department, Conservative, Washington’s Hudson Institute, Thomson Locations: Surrey, British Columbia, Canada, United States, Canadian, India, New Delhi, University of Ottawa . U.S, Indian Government, America, . New Delhi, Ottawa, India's, Punjab, Pakistan

Two of the three core inflation measures also rose. The annual rate, the highest since the 4.4% reported in April, is double the Bank of Canada's 2% target. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," she said. Money markets raised bets for a rate hike in October after the data, seeing a 42% chance of an increase after the price figures compared with 23% before. However, another inflation report and a bevy of other data are due out before the Canadian central bank next meets on Oct 25 to set the key overnight rate.

Persons: Derek Holt, Holt, Sharon Kozicki, Jimmy Jean, Justin Trudeau's, Andrew Grantham, David Ljunggren, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajogopal, Paul Simao, Mark Porter Organizations: Reuters, Statistics, Bank of Canada's, Scotiabank, Bank of, Bank of Canada, Canadian, Desjardins Group, CIBC Capital Markets, Tiff, Thomson Locations: OTTAWA, Statistics Canada, Canadian

☆ Hardeep Singh Nijjar: Who was the Sikh leader murdered in Canada?
▼ + stars: | 2023-09-19 | by ( Sakshi Dayal | ) www.reuters.com time to read: +2 min

A sign outside the Guru Nanak Sikh Gurdwara temple is seen after the killing on its grounds in June 2023 of Sikh leader Hardeep Singh Nijjar, in Surrey, British Columbia, Canada September 18, 2023. Here is what is known about Hardeep Singh Nijjar, the man at the centre of the row. - He was initially associated with the Babbar Khalsa International (BKI) Sikh separatist group, according to India's counter-terrorist, National Investigation Agency. - For supporters demanding a so-called independent Sikh state of Khalistan, Nijjar was a prominent leader and a strong voice for the cause. - He was elected head of the Guru Nanak Sikh Gurudwara, a Sikh place of worship, in Surrey, the Vancouver suburb where he lived.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, India's, Nijjar, Sakshi Dayal, YP Rajesh, Sharon Singleton Organizations: REUTERS, Khalistan Extremism Monitor, for Conflict Management, Babbar Khalsa International, National Investigation Agency, Pakistan's Inter, Services Intelligence, Khalistan Tiger Force, YP, Thomson Locations: Surrey, British Columbia, Canada, DELHI, Ottawa, New Delhi, India, Jalandhar district, India's, Punjab, Islamabad, Indian, Vancouver

☆ UK in close touch with Canada over 'serious allegations' against India
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

A sign outside the Guru Nanak Sikh Gurdwara temple is seen after the killing on its grounds in June 2023 of Sikh leader Hardeep Singh Nijjar, in Surrey, British Columbia, Canada September 18, 2023. REUTERS/Chris Helgren Acquire Licensing RightsLONDON, Sept 19 (Reuters) - Britain said on Tuesday it was in close touch with its Canadian partners about "serious allegations" from Ottawa that the Indian government was involved in the murder of a Sikh separatist leader in Canada. "We are in close touch with our Canadian partners about these serious allegations," a government spokesperson said. Canada said on Monday it was "actively pursuing credible allegations" that linked Indian government agents to Hardeep Singh Nijjar's murder in British Columbia in June. India dismissed the accusation as "absurd and motivated" and urged Canada instead to take legal action against anti-Indian elements operating from its soil.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, Hardeep Singh, Sachin Ravikumar, Kate Holton Organizations: REUTERS, Thomson Locations: Surrey, British Columbia, Canada, Britain, Ottawa, India, New Delhi, Canadian

☆ Bank of Canada: Underlying inflation is inconsistent with 2% target
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsBy Steve Scherer and David LjunggrenOTTAWA, Sept 19 (Reuters) - The Bank of Canada on Tuesday said recent volatility in headline inflation is not unusual but the underlying trend shown by core measures was inconsistent with bringing inflation down to the 2% target. "(They) are one reason why we look at measures of core inflation - which exclude components with more volatile price movements - to get a sense of what underlying inflation is." One of those core measures, CPI-trim - which leaves out spiking mortgage interest costs - has been between 3.5%-4% in recent months. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," Kozicki said.

Persons: Chris Wattie, Steve Scherer, David Ljunggren OTTAWA, Sharon Kozicki, Kozicki, Macklem, David Ljunggren Organizations: Bank of Canada, REUTERS, University of Regina, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Saskatchewan, Reuters Ottawa

☆ Canada says it has info linking India gov't agents to Sikh leader's murder
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Indian Prime Minister Narendra Modi welcomes Canada Prime Minister Justin Trudeau upon his arrival at Bharat Mandapam convention center for the G20 Summit, in New Delhi, India, Saturday, Sept. 9, 2023. Evan Vucci/Pool via REUTERS/File photo Acquire Licensing RightsOTTAWA, Sept 18 (Reuters) - Canadian security agencies have been actively pursuing credible allegations of a potential link between Indian government agents and the murder of a Sikh leader in British Columbia in June, Prime Minister Justin Trudeau said on Monday. "Canada has declared its deep concerns to the top intelligence and security officials of the Indian government," Trudeau said in an emergency statement to the House of Commons. Trudeau said he had raised his concerns "personally and directly" to Indian Prime Minister Narendra Modi, at a Group of 20 summit last week in India, about the killing of Hardeep Singh Nijjar, who was shot dead outside a Sikh temple in Surrey, British Columbia, on June 18. Reporting by David Ljunggren; Editing by Mark Porter, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Narendra Modi, Justin Trudeau, Evan Vucci, Trudeau, Hardeep Singh Nijjar, David Ljunggren, Mark Porter, William Maclean Organizations: Indian, Canada, Bharat, Rights, Thomson Locations: New Delhi, India, British Columbia, Canada, Surrey

The tit-for-tat diplomatic expulsions came after Prime Minister Justin Trudeau said Canada was investigating “credible allegations” linking India to the June killing of Canadian citizen and prominent Sikh leader, Hardeep Singh Nijjar. India’s foreign ministry on Tuesday responded in kind, saying it had expelled a senior Canadian diplomat based in India. “The concerned diplomat has been asked to leave India within the next five days,” it said in a statement. We have conveyed our concerns at senior levels to India,” a statement shared with CNN said. That operation caused huge anger within the Sikh community and Gandhi was assassinated by her Sikh bodyguards in the aftermath.

Persons: Justin Trudeau, Hardeep Singh, ” Trudeau, Mélanie Joly, ”, Trudeau, Joe Biden, Rishi Sunak, “, ” Nijjar, Nijjar, Penny Wong, Narendra Modi, Modi, Guru Nanak, Indira Gandhi, Gandhi Organizations: CNN, Ottawa, British, Sikh Organization, India’s, Indian National Investigation Agency, Khalistan, Government of, Canadian Government, Reuters, Canadian, Relations, Analysts, Indian Army, of, Air Locations: India, New Delhi, Canada, Indian, Ottawa, Canadian, Surrey, British Columbia, Government of India, Canada’s, Toronto, of Canada, Punjab, Britain, Pakistan, Air India, Australia

[1/3] A sign outside the Guru Nanak Sikh Gurdwara temple is seen after the killing on its grounds in June 2023 of Sikh leader Hardeep Singh Nijjar, in Surrey, British Columbia, Canada September 18, 2023. Here are some recent examples of uneasy ties between the two countries:Sept 2023: Canadian Trade Minister Mary Ng postponed a trade mission to India planned for October. Sept 2023: Indian Prime Minister Narendra Modi conveyed strong concerns about protests in Canada against India to Trudeau on the sidelines of the G20 summit in New Delhi. Indira Gandhi was assassinated in 1984 by two Sikh bodyguards after she allowed the storming of the holiest Sikh temple, aimed at flushing out Sikh separatists who demanded an independent homeland to be known as Khalistan. March 2023: India summoned Canada's High Commissioner to convey concern over pro-Khalistan protesters in Canada who breached the security of India's diplomatic mission and consulates.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, Justin Trudeau, Mary Ng, Narendra Modi, Trudeau, Indira Gandhi, Canada's, Kanishka Singh, Sandra Maler Organizations: REUTERS, Canadian, Canadian Trade, Indian, Sikh, Air, Air India Boeing, Thomson Locations: Surrey, British Columbia, Canada, Ottawa, New Delhi, Punjab, India, Air India, Washington

☆ Alberta premier wants to unveil carbon capture storage tax credits at COP 28
▼ + stars: | 2023-09-18 | by ( Nia Williams | ) www.reuters.com time to read: +1 min

CALGARY, Alberta, Sept 18 (Reuters) - Alberta Premier Danielle Smith said on Monday she wanted to announce the details of investment tax credits to support carbon capture and storage (CCS) projects at the COP 28 climate summit in Dubai at the end of this year. Smith made the announcement during a news conference on the sidelines of the World Petroleum Congress in Calgary. Alberta is Canada's main producer of crude oil and natural gas, and its highest carbon-emitting province. COP 28 runs from Nov. 30 until Dec. 12. Reporting by Nia Williams; writing by David Ljunggren; Editing by Leslie Adler and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Danielle Smith, Smith, Nia Williams, David Ljunggren, Leslie Adler, Richard Chang Organizations: World Petroleum Congress, Pathways Alliance, Suncor Energy, Cenovus Energy, Thomson Locations: CALGARY, Alberta, Dubai, Calgary . Alberta, Ottawa

[1/4] A person shops in the poultry section at a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Sept 18 (Reuters) - Canada's five major grocery chains have agreed to help the government in its bid to stabilize soaring prices, a senior minister said on Monday, following talks to address an issue that is hurting the ruling Liberals. Innovation Minister Francois-Philippe Champagne made the announcement after two hours of what he said were difficult discussions with the chains. "They have agreed to support the government of Canada in our efforts to stabilize prices in Canada," Champagne told reporters, without giving details. "We're all committed to finding solutions to stabilize prices ... it's an industry issue.

Persons: Carlos Osorio, Francois, Philippe Champagne, Champagne, Eric La Fleche, We're, It's, Justin Trudeau, Karina Gould, Trudeau, Steve Scherer, David Ljunggren, Bernadette Baum, Bill Berkrot Organizations: REUTERS, Rights, Innovation, Metro, Walmart, Costco, Conservatives, Liberal, Thomson Locations: Toronto , Ontario, Canada, Ottawa, it's

☆ Canada gov't vows draft law soon to tackle inflation, housing crisis
▼ + stars: | 2023-09-18 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. Prime Minister Justin Trudeau last week announced a tax break designed to boost the construction of new rental apartment buildings and relieve pressure on the Canadian housing market. Later on Monday, the heads of major grocery chains will meet government ministers who are demanding to see a plan to counter soaring food prices. Canadian retailers say they are not to blame for surging food prices, and instead point to food manufacturers and producers for passing on higher costs to the grocers. The grocery chains attending the meeting in Ottawa are Loblaws (L.TO), Sobeys (EMPa.TO), Metro (MRU.TO), Walmart (WMT.N) and Costco (COST.O), which together represent 80% of the Canadian market.

Persons: Carlos Osorio, Justin Trudeau, Chrystia Freeland, Trudeau, Karina Gould, Steve Scherer, David Ljunggren, Bernadette Baum Organizations: REUTERS, Rights, Liberal, Finance, Competition, Conservatives, Metro, Walmart, Costco, Thomson Locations: Toronto , Ontario, Canada, Ottawa

☆ Canada expels Indian diplomat over ‘credible allegations’ linking India’s government to killing on Canadian soil
▼ + stars: | 2023-09-18 | by ( Paula Newton | ) edition.cnn.com time to read: +2 min

CNN —Canada has expelled a top Indian diplomat from the country, after Prime Minister Justin Trudeau described “credible allegations” linking India’s government to the assassination of a Canadian citizen and prominent Sikh leader. The Indian diplomat’s expulsion was confirmed by Canada’s foreign affairs minister, Mélanie Joly, who also confirmed that the individual is the head of the Indian intelligence agency in Canada. Trudeau also said Monday that he had brought Canada’s concerns over the assassination “personally and directly” to Indian Prime Minister Narendra Modi last week at the G20. “Any involvement of a foreign government in the killing of a Canadian citizen on Canadian soil is an unacceptable violation of our sovereignty,” he said. CNN has reached out to the High Commission of India in Ottawa for comment but has not received a reply.

Persons: Justin Trudeau, “, Hardeep Singh, ” Trudeau, ” Nijjar, Mélanie Joly, ”, Trudeau, Narendra Modi Organizations: CNN, Canada, Canadian, “, Monday, Indian, High Commission of Locations: Indian, India, British Columbia, Surrey, Canada, Ottawa, High Commission of India

☆ Canada risks more than C$50 billion in clean tech as incentives in limbo
▼ + stars: | 2023-09-18 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

OTTAWA, Sept 18 (Reuters) - More than a year after Canada first announced incentives to jumpstart clean technology projects there is still no money flowing, and if they are not in place soon, more than C$50 billion ($37 billion) in investments could be at risk, industry groups said. The government "urgently needs to get as much of this out the door this fall as possible." Masterson says there are "well beyond C$25 billion of proposed investments" in more than a dozen projects in his industry that are waiting for the incentives. An additional C$17 billion in ITCs for clean hydrogen, electricity and manufacturing were announced six months ago and those are at an earlier stage. Adam Auer, president of Cement Association of Canada, said his members have "billions" in projects that are waiting on the ITCs.

Persons: Justin Trudeau's, Bob Masterson, Masterson, Trudeau, Dennis Darby, Darby, Adam Auer, Rachelle Schikorra, Steve Scherer, Timothy Gardner Organizations: Canada, Justin Trudeau's Liberal, Chemistry Industry Association of Canada, Canadian Manufacturers, CME, Cement Association of Canada, Dow Chemicals, Reuters, Thomson Locations: OTTAWA, United States, U.S, Exshaw , Alberta, Canada, Fort Saskatchewan , Alberta

☆ Canada expels Indian diplomat as it investigates India’s possible link to Sikh activist’s slaying
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +5 min

Canada's Prime Minister Justin Trudeau speaks during a press conference following a cabinet shuffle, at Rideau Hall, in Ottawa, Ontario, Canada, July 26, 2023. Canada expelled a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist. Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week. Canadian Foreign Minister Mélanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. It called on Canada to work with India on what New Delhi said is a threat to the Canadian Indian diaspora.

Persons: Justin Trudeau, Trudeau, Hardeep Singh Nijjar, Narendra Modi, Modi, Mélanie Joly, " Joly, Hardeep Singh, Dominic LeBlanc, Joly, Joe Biden, Rishi Sunak, Pierre Poilievre, Poilievre, Jagmeet Singh, Sikh, Singh, Nijjar Organizations: Canada's, Rideau Hall, Indian, Canadian, Indian Embassy, Associated Press, Public, Royal Canadian Mounted Police, United Nations, Assembly Relations, Conservative, Opposition New, India's Ministry, External Affairs, Sikh Organization of Canada Locations: Ottawa , Ontario, Canada, Indian, Surrey, British Columbia, Ottawa, India, New York City, United Kingdom, Delhi

REUTERS/Chris Wattie/File Photo Acquire Licensing RightsTORONTO, Sept 17 (Reuters) - Bank of Montreal (BMO) (BMO.TO) is winding down its indirect retail auto finance business and shifting focus to other areas in a move that will result in an unspecified number of job losses, Canada's third-largest bank said. The bank, which announced the move on Saturday, has conducted this business in Canada and the United States. Under the indirect retail auto finance business, the bank works with car dealerships to arrange financing for buyers, who make monthly payments to the lender. "By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest," BMO said in a statement to Reuters. The remaining loans in this portfolio are primarily auto loans, but also include other loans, including loans for boats, recreational vehicles and motorcycles, Edward Jones analyst James Shanahan said.

Persons: Chris Wattie, Paul Hunsley, Edward Jones, James Shanahan, Nivedita Balu, Denny Thomas, Jane Merriman, Susan Fenton, Will Dunham, Diane Craft Organizations: of Montreal, BMO, REUTERS, Rights, Bank of Montreal, Reuters, The, Bank, Thomson Locations: Ottawa , Ontario, Canada, United States, California, Toronto

A Bank of Montreal (BMO) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsTORONTO, Sept 17 (Reuters) - Bank of Montreal (BMO) (BMO.TO) is winding down its retail auto finance business and shifting focus to other areas in a move that will result in an unspecified number of job losses, Canada's third largest bank said on Saturday. "By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest," BMO said in a statement to Reuters. Under the indirect retail auto finance business, the bank provides financing to the vehicle seller instead of directly to the buyer, who makes monthly payments to the lender. The United States now accounts for more than two-thirds of BMO's overall profits.

Persons: Chris Wattie, Paul Hunsley, Gross, Nivedita Balu, Denny Thomas, Jane Merriman, Susan Fenton Organizations: of Montreal, BMO, REUTERS, Rights, Bank of Montreal, Reuters, Bank, Thomson Locations: Ottawa , Ontario, Canada, United States, California, Toronto

☆ Canada to give C$33 million to help buy air defenses for Ukraine
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Blair Gable/File Acquire Licensing Rights Read moreOTTAWA, Sept 17 (Reuters) - Canada will contribute C$33 million ($24.5 million) to a British-led partnership that is buying air defense equipment for Ukraine to help it fend off Russian missile and drone attacks, Defence Minister Bill Blair said on Sunday. In a statement, Blair said the contribution was part of the C$500 million worth of military aid for Kyiv that Prime Minister Justin Trudeau announced in June. Since Russia invaded in February 2022, Ottawa has committed over C$8 billion in aid, including around C$1.8 billion in military assistance. The partnership, which also includes the United States, the Netherlands and Denmark, aims to buy hundreds of short- and medium-range air defense missiles and associated systems. ($1 = 1.3523 Canadian dollars)Reporting by David Ljunggren; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Bill Blair, Blair Gable, Blair, Justin Trudeau, David Ljunggren, David Gregorio Our Organizations: Public Safety, REUTERS, Defence, Thomson Locations: Ottawa , Ontario, Canada, OTTAWA, British, Ukraine, Kyiv, Ukrainian, Russia, Ottawa, United States, Netherlands, Denmark

☆ Storm Lee makes landfall in Canada, downing trees and knocking out power
▼ + stars: | 2023-09-16 | by ( John Morris | ) www.reuters.com time to read: +3 min

[1/15] A tree on the ground is pictured after taking down the power lines and shutting off access to this road in Liverpool, Nova Scotia, Canada, September 16, 2023. The still-powerful weather system packed maximum sustained winds of 65 mph (100 km/h) with higher gusts, forecasters said. In the Canadian province of Nova Scotia, around 120,000 people were without power on Saturday as winds knocked down trees and felled power lines. "The intensity of the storm is strong," said Paul Mason, the executive director of the Nova Scotia Emergency Management Office. It marks the second year in a row that such a powerful storm has reached Canada after Hurricane Fiona ripped into eastern Canada a year ago.

Persons: John Morris, Lee, Crews, Matt Drover, PowerOutages.us, Paul Mason, Joe Biden's, Fiona, David Ljunggren, Idrees Ali, Maria Caspani, Daniel Trotta, Brendan O'Brien, Kim Coghill, Mike Harrison, Diane Craft, Daniel Wallis, David Gregorio Our Organizations: REUTERS, U.S, National Hurricane Center, Nova, Nova Scotia Emergency Management Office, NHC, Canadian Hurricane Centre, Thomson Locations: Liverpool , Nova Scotia, Canada, Nova Scotia, Canada's Nova Scotia, Atlantic, U.S ., Maine, Halifax, Eastport , Maine, Atlantic Canada, Canadian, of Nova Scotia, New Brunswick, Massachusetts, Bermuda, Ottawa, Washington, New York, Carlsbad , California, Chicago

☆ Lee weakens to post-tropical cyclone, knocks out power as it nears Atlantic coast
▼ + stars: | 2023-09-16 | by ( John Morris | ) www.reuters.com time to read: +3 min

[1/3] A man walks near a large lawn chair that was tipped over, after Hurricane Lee was downgraded to a post-tropical storm and started to impact Shelburne, Nova Scotia, Canada, September 16, 2023. REUTERS/John Morris Acquire Licensing RightsSHELBURNE, NOVA SCOTIA Sept 16 (Reuters) - The Lee storm system weakened into a post-tropical cyclone as it closed in on New England and Atlantic Canada on Saturday, producing hurricane-force winds that knocked out power to more than 100,000 people. Strong winds, coastal flooding and heavy rains were already occurring in parts of New England and Atlantic Canada, it added. In the Canadian province of Nova Scotia, more than 100,000 people were without power early on Saturday after high winds brought down trees. Lee has been churning as a large hurricane over the Atlantic for more than a week, briefly threatening Bermuda but mostly harmless for anyone on land.

Persons: Hurricane Lee, John Morris, Lee, Crews, Matt Drover, Joe Biden, Karine Jean, Pierre, Fiona, David Ljunggren, Idrees Ali, Daniel Trotta, Brendan O'Brien, Kim Coghill, Mike Harrison, Diane Craft Organizations: REUTERS, NOVA, Atlantic Canada, The U.S, National Hurricane Center, Nova, Canadian Hurricane Center, U.S, Thomson Locations: Shelburne, Nova Scotia, Canada, New England, Atlantic, The, Halifax Nova Scotia, Atlantic Canada, Canadian, of Nova Scotia, New Brunswick, Halifax, Fundy, Maine, Massachusetts, Bermuda, Ottawa, Washington, Carlsbad , California, Chicago

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