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That has led to a rare situation in Canada where banks are seeing mortgage amortizations getting extended beyond 30 years, sparking calls from regulators to take immediate action to mitigate risks. For the other four banks, mortgages amortizing under 25 years account for a half to nearly three quarters. Scotiabank's Canada head Dan Rees said the bank was now being more "disciplined with regards to customer selection" for new mortgages. Still, the risks remain elevated as consumers are struggling to make monthly payments due to the rising cost of living. TD Bank's Canada personal banking head Michael Rhodes told analysts this week that "a meaningful number of customers" are making the changes.

Persons: Mark Blinch, Hratch Panossian, Dan Rees, Brian Madden, Michael Rhodes, Dave McKay, Nivedita Balu, Denny Thomas, Stephen Coates Organizations: REUTERS, Rights, Canada's, Reuters, CIBC, Bank of Nova, Investment, Thomson Locations: Toronto, Milton , Ontario, Canada, Bank of Nova Scotia

☆ Canadian dollar posts biggest loss in 1 month as economy shrinks
▼ + stars: | 2023-09-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The loonie was trading 0.6% lower at 1.3595 to the U.S. dollar, or 73.56 U.S. cents, its biggest decline since Aug. 1. "The Bank of Canada's job is done," said Adam Button, chief currency analyst at ForexLive. "The Canadian dollar is selling off because the debate will quickly shift to when rate cuts are coming. Separate data showed that the contraction in Canada's manufacturing sector gathered pace in August.

Persons: Mark Blinch, Adam Button, It's, Fergal Smith, Frances Kerry, Alison Williams Organizations: REUTERS, greenback, Canadian, U.S, of Canada, U.S ., Thomson Locations: Toronto, TORONTO, Canada

☆ Canadian dollar posts biggest monthly decline since February
▼ + stars: | 2023-08-31 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The loonie was trading 0.1% higher at 1.3515 to the greenback, or 73.99 U.S. cents, after moving in a range of 1.3505 to 1.3557. For the month, the currency lost 2.4%, its biggest monthly decline since February. "The laggards (in August) among G10 currencies are predominantly the commodity complex," said Michael Goshko, senior market analyst at Convera Canada. Canadian government bond yields were mixed across the curve, with the 10-year down 1 basis point at 3.566%.

Persons: Mark Blinch, Michael Goshko, Fergal Smith, Grant McCool Organizations: REUTERS, greenback, U.S, Convera, New Zealand, Bank of Canada, Thomson Locations: Toronto, TORONTO, China, Norwegian, Canadian

The country's second-largest bank Toronto-Dominion Bank (TD.TO), however, missed Bay Street estimates for quarterly profit hurt by higher expenses and rainy day funds to cover for unpaid loans. The bank's earnings were also impacted by a C$306 million charge related to the termination of its First Horizon acquisition. "The higher interest rate would put pressure on the consumer. The banks set aside more money for bad loans compared to the prior quarter as consumers struggle to make payments amid high costs of living. RBC set aside C$616 million for credit losses, up from C$340 million a year ago, and TD set aside C$766 million, a jump from C$351 million.

Persons: Mark Blinch, Dave McKay, John Aiken, Kelvin Tran, Nivedita Balu, Sri Hari, Pritam Biswas, Shilpi Majumdar, Mark Potter Organizations: Royal Bank of Canada, REUTERS, RBC, Barclays, Dominion Bank, The Bank of Canada, Thomson Locations: Toronto, Canada, Sri, Bengaluru

A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015. The shares of the top five banks - Royal Bank of Canada , TD Bank (TD.TO), Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and CIBC (CM.TO) - have lost between 2% and 8% so far this year. Reuters GraphicsRoyal Bank of Canada and TD Bank will kick off third-quarter results on Thursday. RBC analyst Darko Mihelic forecast a 9% third-quarter revenue decline from a year ago for the capital-market business of the large Canadian banks. Investors will also watch for any updates on Bank of Nova Scotia's (BNS.TO) turnaround plan for its international business.

Persons: Mark Blinch, Mike Rizvanovic, Darko Mihelic, Cowen, RBC's Mihelic, Nivedita Balu, Matthew Lewis Organizations: Royal Bank of Canada, REUTERS, RBC, TD Bank, Bank of Montreal, Bank of Nova, CIBC, National Bank, Toronto Stock, Bank of Canada, Reuters Graphics Royal Bank of Canada, HSBC Canada, Laurentian Bank, Thomson Locations: Toronto, dealmaking, TORONTO, Bank of Nova Scotia

☆ Canadian dollar hits 2-month low after surprise jobs loss
▼ + stars: | 2023-08-04 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. For the week, the risk-sensitive currency was down 0.9%, its third straight weekly decline, as a jump in long-term bond yields rattled equity market investors. The Canadian economy shed 6,400 jobs in July, missing estimates for a gain of 21,100, while the jobless rate ticked up to 5.5%. Money markets see chances of another Bank of Canada rate hike this year at about 50%, down from 80% before the jobs report. Canadian government bond yields fell across the curve.

Persons: Mark Blinch, Jay Zhao, Murray, Fergal Smith, Grant McCool Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, Monex Canada, Canada, U.S ., Thomson Locations: Toronto, TORONTO

☆ TSX starts month on weak note as China slowdown hits sentiment
▼ + stars: | 2023-08-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 93.71 points, or 0.5%, at 20,532.93, after posting its highest closing level in three months in the previous session. The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.8% as gold and copper prices fell. Shares of Silvercrest Metals (SIL.TO) were particularly weak, plunging 21.5% after two brokerages cut their price target on the stock. The TSX notched a gain of 2.3% in July, while it has advanced 5.9% since the start of the year.

Persons: Mark Blinch, Robert McWhirter, Fergal Smith, Siddarth, Shilpi Majumdar, Cynthia Osterman Organizations: Toronto Stock Exchange, REUTERS, Metals, Toronto Stock, Selective Asset Management Inc, Canada's, Silvercrest Metals, TSX, Thomson Locations: Toronto, China, Coast, Bengaluru

☆ Toronto stocks start August on a weak note as commodity-linked sectors drag
▼ + stars: | 2023-08-01 | by ( Siddarth S | ) www.reuters.com time to read: +2 min

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. ET (1417 GMT) on Tuesday, the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 84.12 points, or 0.41%, at 20,542.52. Data showed Canada's manufacturing sector contracted for the third straight month in July as an uncertain economic outlook held back new orders, offsetting a pickup in production. Lower oil prices dragged the energy sector (.SPTTEN) down 0.7%. In the neighboring U.S., manufacturing appeared to stabilize at weaker levels in July, data showed, amid a gradual improvement in new orders.

Persons: Mark Blinch, Brian Madden, Siddarth, Shilpi Majumdar Organizations: Toronto Stock Exchange, REUTERS, Reuters, Toronto Stock, Bank of Canada, Investment, Silvercrest Metals, Thomson Locations: Toronto, China, U.S, Bengaluru

☆ C$ hits 3-week low as 'cracks' emerge in Canada's economy
▼ + stars: | 2023-08-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie," is pictured in this illustration picture taken in Toronto, January 23, 2015. "The (U.S.) dollar is reasserting itself as the champion of the currency market and the Canadian dollar is just caught in that wave," said Adam Button, chief currency analyst at ForexLive. S&P Global's measure of Canadian manufacturing activity edged higher last month to 49.6 from 48.8 in June. Canada's employment report for July, due on Friday, could offer further clues on the strength of domestic activity. The price of oil, one of Canada's major exports, edged lower on signs of profit-taking after a rally in July.

Persons: Mark Blinch, Adam Button, Fergal Smith, Jonathan Oatis Organizations: REUTERS, greenback, PMI, Canadian, U.S, ., Thomson Locations: Toronto, TORONTO, U.S

☆ Trump repeatedly celebrated the inclusion of transgender women in his beauty pageant
▼ + stars: | 2023-06-16 | by ( Andrew Kaczynski | ) edition.cnn.com time to read: +6 min

CNN —Years before he said he was running for president to “defeat the cult of gender ideology,” Donald Trump welcomed and praised the inclusion of transgender women in the Miss Universe pageant. He then later effusively praised the winner of the Miss USA pageant, Olivia Culpo, for saying that transgender women should be allowed to compete. Transgender contestant Jenna Talackova takes part in Miss Universe Canada competition in Toronto, May 19, 2012. Mark Blinch/ReutersTrump, then the owner of the Miss Universe pageant, would go on to cite the possible participation of transgender women in Olympic sports to justify his decision to end a ban on transgender pageant participants. “And you have the Miss Canada, which is essentially the Miss Universe.

Persons: ” Donald Trump, Jenna Talackova, effusively, Olivia Culpo, Mark Blinch, Reuters Trump, Trump, ”, he’d, That’s, Culpo, “, ” Culpo, Trump . Donald Trump, David Becker, –, ” Trump, Talackova, Gloria Allred, Michael Cohen, Cohen, Laura Ingraham, Carrie Prejean, Shanna Moakler, Donald Trump, Lucas Jackson Organizations: CNN, Miss Universe, Trump, Miss USA, Miss Universe Canada, Reuters, Republican, White, Trump ., Miss, Hollywood, Getty, Fox, Friends, Trump Organization, Olympics, Fox News, Miss California USA, Miss Universe Organization, GLAAD, Mr Locations: Canadian, Toronto, Las Vegas , Nevada, Canada, Miss Canada, United States, New York

☆ Parts Maker Rejects Demand to Recall Air-Bag Inflators Regulators Call Unsafe
▼ + stars: | 2023-05-15 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

General Motors recalled nearly one million SUVs that used the ARC air bags, including the GMC Acadia, from model years 2014 to 2017. Photo: mark blinch/ReutersAn auto-parts manufacturer is rejecting a demand from federal regulators that it recall 67 million air-bag inflators that the regulators say are unsafe, setting up a potential legal battle that would have wide-ranging ramifications for the industry. In a letter released publicly Friday, the National Highway Traffic Safety Administration said it had tentatively concluded that the inflators made by Tennessee-based ARC Automotive contain a “safety-related defect” and should be recalled. The inflators have been linked to exploding incidents that have killed two people and injured others.

☆ Google AI pioneer says he quit to speak freely about technology's 'dangers'
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Artificial intelligence pioneer Geoffrey Hinton speaks at the Thomson Reuters Financial and Risk Summit in Toronto, December 4, 2017. REUTERS/Mark BlinchMay 2 (Reuters) - A pioneer of artificial intelligence said he quit Google (GOOGL.O) to speak freely about the technology's dangers, after realising that computers could become smarter than people far sooner than he and other experts had expected. "I left so that I could talk about the dangers of AI without considering how this impacts Google," Geoffrey Hinton wrote on Twitter. “The idea that this stuff could actually get smarter than people — a few people believed that,” he told the New York Times. In his tweet, Hinton said Google itself had "acted very responsibly" and denied that he had quit so that he could criticise his former employer.

☆ TSX rises as domestic economy outperforms; Rogers slides
▼ + stars: | 2023-03-31 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

[1/2] A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. of 0.3%TSX up 0.6%March 31 (Reuters) - Canada's main stock index edged up on Friday as investor sentiment gained steam after data showed the domestic economy grew more than expected in January. A Statistics Canada report showed that the Canadian economy performed better-than-expected in January versus December, driven by broad gains in both goods and services industries. ET (1410 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 130.39 points, or 0.65%, at 20,071.38. "The strength in January is consistent with an economy that remains resilient," said Angelo Kourkafas, investment strategist at Edward Jones Investments.

☆ Not so quiet on the BAFTA front as anti-war remake tops the billing
▼ + stars: | 2023-02-19 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +3 min

[1/5] Albrecht Schuch, Edward Berger, and Malte Grunert arrive at the world premiere of "All Quiet on the Western Front" at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 12, 2022. REUTERS/Mark Blinch/File PhotoLONDON, Feb 19 (Reuters) - A German remake of anti-war classic "All Quiet on the Western Front" leads the contenders at the British Academy Film Awards on Sunday, the country's highest accolade for the industry. "Banshees", about two feuding friends on a remote island off the coast of Ireland, and "Everything Everywhere" each have received 10 nominations. Bill Nighy ("Living"), Paul Mescal (Aftersun") and Daryl McCormack ("Good Luck to You, Leo Grande") complete the leading actor nominees list. BAFTA Chief Executive Jane Millichip said while Grozev would not attend the ceremony, the film's nominated producers would.

☆ Rise in Canadian shareholder activism faces test next month with new rules in place
▼ + stars: | 2023-02-12 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

The country has lagged the rising trend of activism seen globally, but that could be about to change, lawyers say. Some 53 Canadian companies faced activism campaigns in 2022, a 17.8% rise over the previous year, compared with a 10.6% rise in the U.S to 511, showed data from Insightia, a Diligent brand. Previously, shareholders could only vote 'for' a candidate or 'withhold' their vote, meaning a majority was not legally a necessity. While not enshrined in law, majority voting was often adopted by companies in their policy, prior to the change. And oil and mining companies could continue to be the sector that faces activism, say market participants.

☆ Bank of Canada set for one more rate hike in historic tightening campaign
▼ + stars: | 2023-01-25 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/2] A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. This week's meeting will be significant as the BoC will offer minutes from the policy-setting session for the first time. Money markets see a roughly 70% chance of a 25-basis-point move and expect the policy rate to peak at 4.50%. Economists expect the BoC to leave the door open to further tightening should upcoming data show price pressures persisting and push back against market expectations for interest rate cuts in the second half of the year. Better to err on the side of too much tightening with a 25-basis-point hike."

[1/2] A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. "We are turning the corner on inflation," Bank of Canada Governor Tiff Macklem told reporters. If the economy evolves as forecast, the bank "expects to hold the policy rate at its current level while it assesses the impact of the cumulative interest rate increases," the statement announcing the rate hike said. "Governing Council is prepared to increase the policy rate further if needed to return inflation to the 2% target," the statement said. "The Bank of Canada is back to using forward guidance," said Royce Mendes, director and head of macro strategy at Desjardins.

☆ Commodity-linked stocks push TSX to fresh two-week highs
▼ + stars: | 2022-12-08 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. ET (1540 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 66.9 points, or 0.33%, at 20,040.12. The materials sector (.GSPTTMT), which includes miners of precious and base metals, climbed 0.8% on higher metal prices. "Given the magnitude of the rate hikes, they want some time to evaluate how that's going to impact the economy." Among single stocks, Parkland Corp (PKI.TO) gained 5.9% after the food and fuel retailer posted its 2023 outlook.

☆ TSX gains as Bank of Canada signals slowdown in rate hikes
▼ + stars: | 2022-12-07 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch/File PhotoDec 7 (Reuters) - Canada's main stock index climbed on Wednesday as investors shrugged off potential impact from a oversized rate hike by the Bank of Canada and digested commentary from the central bank hinting at an end to its monetary policy tightening. ET (15:32 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 102.39 points, or 0.51%, at 20,092.56. "Above and beyond the rate hike itself, the bank also indicated that they're going to consider whether future rate hikes are needed," said Douglas Porter, chief economist, BMO Capital Markets. The materials sector (.GSPTTMT), which includes precious and base metal miners, led gains in the index with a climb of 1%.

☆ Top Canada banks post fall in profits as deals drought offsets rate boost
▼ + stars: | 2022-11-30 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

(Reuters) -Royal Bank of Canada (RBC) and National Bank of Canada, two of the biggest banks in the country, posted a drop in profits as their market-focused businesses took a hit from the central bank’s hawkish monetary tightening campaign. FILE PHOTO: FILE PHOTO: A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015. To cushion the hit from markets, banks have turned to their lending business that got a boost from the central bank’s rate hikes. While National Bank posted an adjusted profit of C$2.08, below analysts’ expectation of C$2.24. RBC reported a modest drop in profit to C$3.88 billion, while National Bank’s earnings dropped 4% to C$738 million.

☆ Drake, 21 Savage agree not to use 'Vogue' trademarks to promote No. 1 album
▼ + stars: | 2022-11-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

[1/2] Rapper Drake arrives on the red carpet for the film "The Carter Effect" at the Toronto International Film Festival (TIFF), in Toronto, Canada, September 9, 2017. REUTERS/Mark Blinch/File PhotoNEW YORK, Nov 17 (Reuters) - Drake and 21 Savage have stopped using Vogue trademarks to promote their new No. 1 album "Her Loss," and agreed to a preliminary injunction against resuming their campaign. Drake and 21 Savage did not concede liability or wrongdoing, and agreed to the injunction to avoid unnecessary costs, the filing said. The fake Vogue magazine featured Drake and 21 Savage on the cover, and their campaign included a suggestion that they had support from longtime Vogue editor-in-chief Anna Wintour.

REUTERS/Mark Blinch/File PhotoNEW YORK, Nov 9 (Reuters) - A U.S. judge on Wednesday has blocked the rappers Drake and 21 Savage from using fake copies of Vogue magazine to promote their new album. Conde Nast said Drake and 21 Savage had no permission to create the counterfeit magazine, which features them on the cover, to promote their album "Her Loss," or suggest Vogue's longtime editor-in-chief Anna Wintour supported them. Wednesday's order requires Drake, a Toronto native, and 21 Savage, from Atlanta, to stop distributing the fake magazine and cover, including on social media. Conde Nast said the defendants distributed the bogus Vogue issue in major metropolitan areas, with posters plastered on streets and buildings. The publisher, also known as Advance Magazine Publishers Inc, is seeking at least $4 million in damages.

☆ Taylor Swift announces first U.S. stadium tour in five years
▼ + stars: | 2022-11-01 | by ( Gabriella Borter | ) www.reuters.com time to read: +1 min

Her 2023 tour will feature the new album as well as being a retrospective of her prolific and storied career. In an Instagram post, Swift said the tour - dubbed "The Eras Tour" - would be "a journey through the musical eras of my career (past and present!)". Singer Taylor Swift arrives to speak at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 9, 2022. Swift's last stadium tour was in 2018, to promote her album "Reputation". The opening acts for The Eras Tour will include artists Paramore, Beabadoobee, Phoebe Bridgers, Girl in Red, MUNA, Haim, Gracie Abrams, Gayle and Owenn.

☆ Jennifer Lawrence returns to indie roots with post-hiatus 'Causeway'
▼ + stars: | 2022-10-08 | by ( Hanna Rantala | ) www.reuters.com time to read: +2 min

LONDON, Oct 8 (Reuters) - Oscar-winner Jennifer Lawrence plays a soldier struggling with PTSD and past trauma in "Causeway", an indie drama which also marks the Hollywood star’s debut as a producer. The film sees Lawrence's character, Lynsey, returning from Afghanistan with a debilitating brain injury sustained in an attack. Cast member Jennifer Lawrence attends the world premiere of "Causeway" at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 10, 2022. REUTERS/Mark Blinch"So I felt adamant that I really, really want to make this. Register now for FREE unlimited access to Reuters.com RegisterReporting by Hanna Rantala; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

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