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☆ Canadian Prime Minister Justin Trudeau and his wife Sophie are separating after 18 years of marriage. Here's a complete timeline of their relationship.
▼ + stars: | 2023-08-05 | by ( Maria Noyen | ) www.businessinsider.com time to read: +2 min

Justin Trudeau and Sophie Grégoire Trudeau met as kids, but only began a romantic relationship after reconnecting as adults in the early 2000s. Canadian Prime Minister Justin Trudeau and Sophie Grégoire Trudeau during the G20 Summit on July 7, 2017, in Hamburg, Germany. Sophie told Maclean she recalled having her first kiss with Justin when they were kids in his childhood home. Sophie went on to become an entertainment journalist. "I'm a dreamer and a romantic," Sophie said.

Persons: Justin Trudeau, Sophie Grégoire Trudeau, Mikhail Svetlov, Sophie, Justin, Michel Trudeau, Maclean, Michel, Pierre Trudeau, cohosting, Justin the, Justin didn't, I've Organizations: Canadian, Montreal Gazette, Vogue Locations: Hamburg, Germany, Mount Royal, Montreal, British Columbia

☆ Vancouver and Montreal to host two preseason NBA games in October
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Apr 12, 2023; Toronto, Ontario, CAN; A general view of Scotiabank Arena before the start of the NBA Play-In game between the Chicago Bulls and Toronto Raptors. Mandatory Credit: John E. Sokolowski-USA TODAY SportsAug 3 (Reuters) - The Canadian cities of Montreal and Vancouver will host one preseason game each ahead of the 2023-24 National Basketball Association (NBA) regular season, the league said on Thursday. The two games are part of the NBA Canada Series aimed at growing the game in the country and will start with the Toronto Raptors facing the Sacramento Kings on Oct. 8 in Vancouver. In total, 15 NBA teams have participated in 16 preseason games across six cities as part of the NBA Canada Series, which launched in 2012. The 2023-24 NBA regular season begins on Oct. 24.

Persons: John E, Shai Gilgeous, Alexander, Luguentz Dort, Frank Pingue, Clare Fallon Organizations: CAN, Scotiabank Arena, NBA, Chicago Bulls, Toronto Raptors, Basketball Association, NBA Canada, Sacramento Kings, Vancouver . The Oklahoma City Thunder, Detroit Pistons, Thomson Locations: Toronto , Ontario, Montreal, Vancouver, Vancouver ., Canada, United States, Toronto

CNN —Canadian Prime Minister Justin Trudeau and his wife Sophie Grégoire Trudeau are separating, Trudeau announced on his Instagram account Wednesday. After spending several years teaching in Vancouver, Trudeau returned to Montreal in 2002 where he met Grégoire Trudeau, according to the Canadian Prime Minister’s official biography. “In 2002, Justin returned home to Montréal, where he met Sophie Grégoire. According to Trudeau’s Liberal Party website, Grégoire Trudeau gained a degree in communications at the University of Montréal, later working in sales and advertising before becoming a television and radio reporter. In an Instagram post celebrating their wedding anniversary last year, Grégoire Trudeau said the pair had “navigated through sunny days, heavy storms, and everything in between and it ain’t over.”She added: “Long-term relationships are challenging in so many ways.

Persons: Justin Trudeau, Sophie Grégoire Trudeau, Trudeau, Sophie, “, ”, Grégoire Trudeau, Justin, Sophie Grégoire, Xavier, Ella, Grace, King Charles ’, Joe Biden Organizations: CNN, Canadian, Canadian Prime, Trudeau’s Liberal Party, University of Montréal Locations: Vancouver, Montreal, Montréal, London

NEW YORK, July 27 (Reuters) - Bill Hwang, the founder of Archegos Capital Management, on Thursday asked a judge to let him subpoena documents from 10 banks, in an effort to shift blame as he defends against criminal fraud charges that the firm's collapse was his fault. The office of U.S. Attorney Damian Williams, which is prosecuting Hwang, did not immediately respond to a request for comment. Other banks also lost money when Archegos collapsed, but less than Credit Suisse. That caused it to miss margin calls, and banks to dump stocks that had backed the swaps and which they had bought as hedges. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.

Persons: Bill Hwang, Hwang, Damian Williams, Archegos, Goldman Sachs, Jefferies, Mitsubishi UFJ, Morgan Stanley, Nomura, Alvin Hellerstein, Hwang et, Jonathan Stempel, Daniel Wallis Organizations: YORK, Archegos Capital Management, UBS, Credit Suisse, Prosecutors, Bank of Montreal, Deutsche Bank, Mitsubishi, Court, Southern District of, Thomson Locations: Manhattan, Macquarie, Mizuho, U.S, Southern District, Southern District of New York, New York

Unlike the U.S., where home buyers can snag a 30-year mortgage, Canadian borrowers must renew their mortgages every five years at the prevailing interest rates. MORTGAGE DELINQUENCIES LOWLatest data released during the quarterly earnings showed mortgage delinquencies for all banks were low. Of the big six banks in Canada, Bank of Nova Scotia (BNS.TO) and National Bank of Canada (NA.TO) do not offer mortgage extensions, meaning the payment owed by the consumer goes up for each hike the BoC announces. Bank of Montreal (BMO.TO), CIBC (CM.TO) and TD Bank (TD.TO) each allow for negative amortization as rates rise. So it is working counter to what the Bank of Canada is trying to accomplish," Briggs added.

Persons: Greg Taylor, Desjardins, Mike Rizvanovic, Rizvanovic, Darcy Briggs, Briggs, Nivedita Balu, Josie Kao, David Gregorio Our Organizations: TORONTO, Bank, Purpose Investments, Bank of Nova, National Bank of Canada, BoC, RBC, Scotiabank, National Bank, Bank of Montreal, CIBC, TD Bank, Desjardins . Royal Bank of Canada, BMO, Franklin Templeton, Bank of Canada, Thomson Locations: U.S, Canada, Bank of Nova Scotia, Franklin Templeton Canada, Toronto

☆ Icahn unties personal loans from his investment firm's share price, shares jumps
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

July 10 (Reuters) - Billionaire activist investor Carl Icahn has amended the terms of his personal loans to separate them from the price of Icahn Enterprises' (IEP.O) depositary units, the investment firm disclosed in a filing on Monday. The move comes months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company. Icahn and its affiliates have entered into a three-year loan agreement with banks, including Bank of America, N.A. In the amended loan agreement, Icahn will provide additional collateral of $2 billion from his personal funds and 320 million IEP shares. It also said IEP units were inflated by more than 75%.

Persons: Carl Icahn, Icahn, Hindenburg, Jaiveer Shekhawat, Niket, Gursimran Kaur, Dhanya Ann Thoppil, Pooja Desai Organizations: Billionaire, Icahn Enterprises, Bank of America, Bank of Montreal, Deutsche Bank AG, Thomson Locations: Bengaluru

☆ Canadian labor minister meets with provincial counterpart in day five of Canada's port strike
▼ + stars: | 2023-07-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +1 min

Canadian Labor Minister Seamus O'Regan met with his provincial counterpart, British Columbia Labor Minister Harry Bains, in Vancouver on Wednesday to discuss the country's west coast port strike which has stretched into its fifth day. Government sources told CNBC that O'Regan and Bains met to urge both parties to get together and find a solution. When asked if the government is considering such a measure, the office of the Minister of Labor told CNBC: "We are not looking past the bargaining table, because the best deals are made at the table. Calls for government intervention have been circulating citing the May 2021 strike at the Port of Montreal. This week, Alberta's transport minister called on the federal government to recall Parliament to consider back-to-work legislation that would end the strike at British Columbia ports.

Persons: Seamus O'Regan, Harry Bains, O'Regan, Bains Organizations: Canadian Labor, British Columbia Labor, CNBC, Labor, Port Locations: British, Vancouver, Port of Montreal, British Columbia

☆ PE firm Arcline tops KKR's offer for Circor as bidding war intensifies
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

June 28 (Reuters) - Private equity firm Arcline Investment Management on Wednesday proposed to buy Circor International (CIR.N) for $57 per share in cash, topping a rival bid from KKR & Co (KKR.N) for the industrial machinery maker. Circor, which makes flow-control products to help manage and control liquids and gases, did not respond to a Reuters request for comment. Arcline's funds own a direct competitor of Circor called Fairbanks Morse Defense, a provider of diesel engines and equipment to the U.S. Navy, KKR said. It said its bid was supported by financing from BMO Capital Markets Corp and Bank of Montreal. Circor too had said on Tuesday that KKR offered more financing certainty as well as a clearer and faster path to antitrust approvals.

Persons: Arcline, Circor, Priyamvada, Pratyush Thakur, Dhanya Ann Thoppil, Anil D'Silva, Arun Koyyur Organizations: Arcline Investment Management, Circor, KKR & Co, KKR, Fairbanks Morse Defense, U.S . Navy, Defense Industrial Base, BMO Capital Markets Corp, Bank of Montreal, BMO Capital Markets, Thomson Locations: Circor, Bengaluru

Rey Steve Mabiala and his wife, Liz Gouari, taking refuge at the Roberval emergency center after being ordered to evacuate Chibougamau, Quebec, as a fire approached. Of the more than 400 fires now burning in Canada, more than one-third are in Quebec, which has already registered its worst wildfire season on record. Credit... Carlos Osorio/Reuters“We are facing some unprecedented events, including droughts, accelerated fires and heat waves, and there will be more over time, especially forest fires,” Ms. Mohsin said. But perhaps most surprised were newcomers to Chibougamau, like Mr. Mabiala, from the Republic of Congo, who came to work in logging. “They were asking, “Oh, is there such a thing in Canada?’ ’’ Ms. Cabrera said.

Persons: Rey Steve Mabiala, Liz Gouari, Gouari, Mabiala, Prince Edward Island, ” Mr, “ It’s, ”, Josée Poitras, Tanzina Mohsin, Carlos Osorio, Ms, Mohsin, Poitras, “ I’ve, I’ve, Francis Côté, “, Chibougamau, Renaud Philippe, Côté, Guy Boisvert, Winters, Boisvert, Shirley, Jonathan Mattson, Mr, Mattson, Ruth Cabrera, Anna Huerte, —, Cabrera, Huerte Organizations: Wildfire, University of Toronto, ., Reuters, The New York Times, “, Credit Locations: Chibougamau, Quebec, Africa, Canada, North America, Republic of Congo, Prince, Nunavut, Fort Nelson, British Columbia, Toronto, Val, Montreal, Roberval, East Coast, United States, Philippines

☆ Canadian banks see earnings risk from commercial property loans, TD in focus
▼ + stars: | 2023-05-22 | by ( Nivedita Balu | ) www.reuters.com time to read: +4 min

TORONTO, May 22 (Reuters) - Canadian banks are expected to report a rise in bad debt provisions and highlight risks from commercial property loans when they report earnings this week, with the country's No.2 bank TD (TD.TO) in focus after its acquisition of First Horizon (FHN.N) failed. Bay Street analysts have lowered their second quarter earnings expectations for Canadian banks, anticipating higher expenses and slowing loan growth as turmoil south of the border weighs on the broader banking sector. Still, investors view Canadian banks as safer bets than their U.S. counterparts due to their strong capital levels. BMO and Scotia Bank (BNS.TO) are due to report earnings on Wednesday, while TD, Canadian Imperial Bank of Commerce (CM.TO) and Royal Bank of Canada (RY.TO) report on Thursday. Canadian bank stocks have largely underperformed TSX Canadian bank stocks have largely underperformed TSXEmpty offices in big cities have raised concerns among investors about banks' commercial property loan exposure, since about 10% of the lending portfolio of the Big-6 banks is tied to commercial real estate.

☆ Earth-sized alien planet gripped by widespread volcanism
▼ + stars: | 2023-05-17 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

In our solar system, Earth and Venus are volcanically active, as are some of Jupiter's moons. Planets beyond our solar system are called exoplanets. Here, water from the nightside glacier can melt and possibly form liquid surface water. In addition, there is likely volcanism all around the planet, even under the ice on the nightside and possibly under the water near the terminator," Benneke said. The planet is located in the Milky Way about 86 light-years away from our solar system in the direction of the constellation Crater.

☆ Earth-size exoplanet may be covered in volcanoes
▼ + stars: | 2023-05-17 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Instead, the exoplanet, called LP 791-18 d, is likely covered in volcanoes and may experience eruptions with the same frequency as Jupiter’s moon Io, the most volcanically active place in our solar system, according to researchers. LP 791-18 d is located about 90 light-years from Earth in the Crater constellation, where it orbits a small red dwarf star. And astronomers believe the massive planet LP 971-18 c might be contributing to the newly detected exoplanet’s possible volcanism. As the two objects orbit their star, LP 971-18 c and the newfound exoplanet LP 791-18 d closely pass each other, allowing the gravitational pull of the larger planet LP 971-18 c to tug on planet d and reshape its orbit. The discovery of LP 971-18 d points to the importance of data collected by space telescopes.

May 4 (Reuters) - Canadian lender Toronto-Dominion Bank Group (TD.TO) has called off its deal to acquire First Horizon Corp (FHN.N) for $13.4 billion on Thursday, sending the U.S. bank's shares down 44.5% in premarket trading. As part of the termination, TD will pay $200 million to First Horizon in addition to a $25 million fee reimbursement, the banks said. TD first agreed to buy First Horizon in February last year to expand its presence in the United States. Since then, the lender has acquired New York-based boutique investment bank Cowen Inc for $1.3 billion this year. ORTEX data from early last month showed the second-largest Canadian lender was the world's most shorted banking stock.

First Horizon and TD said in a statement they had mutually decided to end the deal because there was no clarity on when they would get regulatory approvals. TD will pay $200 million to First Horizon, in addition to a $25 million fee reimbursement. 2 lender came under pressure from some investors to scrap the purchase after the U.S. regional banking crisis. TD agreed to buy First Horizon in February last year to expand its presence in the United States. Average deposits at First Horizon fell 4% to $62.2 billion in the first quarter, compared to the end of last year.

☆ Teck Resources withdraws restructuring ahead of vote, as Glencore circles
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Teck Resources Ltd (TECKb.TO), the target of an unsolicited takeover bid by Glencore (GLEN.L), on Wednesday said it has withdrawn a proposed restructuring plan just hours ahead of a shareholder vote on it. The Vancouver-based miner operates under a dual-class structure and would need approval from two-thirds of shareholders on both sides for the restructuring. "Glencore's rejected proposals remain a non-starter, with the same flawed structure and material execution risks identified by our Board," Teck boss Jonathan Price said. Glencore's plan would combine and spin off its thermal coal unit and Teck's steelmaking coal business, while rebranding the rest of the operations as GlenTeck. Letko added that internally, some of its employees were divided on whether the deal would succeed or not.

☆ Short positions on Canada's TD Bank rise to $6.1 billion, ORTEX data shows
▼ + stars: | 2023-04-19 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

TORONTO, April 19 (Reuters) - Hedge fund bets against Canada's TD Bank Group (TD.TO) hit $6.1 billion on Wednesday, a 45% increase from 14 days ago, according to data provider ORTEX's calculations, one day ahead of the Canadian lender's annual general meeting. So-called 'arbitrage investors', many of which are event-driven hedge funds, bet on mergers and acquisitions by buying shares of the target and shorting the acquirer's stock. TD, which is awaiting regulatory approval of its takeover of First Horizon, is expected to address the $13.4 billion deal at its AGM on Thursday in Toronto. Hedge funds profit when they borrow a stock from an institutional investor and sell it back when the price falls, pocketing the difference, a practice known as short-selling. TD shares are down 0.1% since the U.S. regional banking crisis began, and up 3.4% this week.

☆ Unstable markets drag Canadian M&A, debt issuance to four-year low
▼ + stars: | 2023-04-06 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

The collapse of regional banks Silicon Valley Bank and Signature Bank in the U.S. tightened credit market making funding difficult for deals. As the banking crisis abate and many global central banks move to the sidelines to assess the impact of rapid interest rates hikes, bankers are, however, betting that appetite for dealmaking would return. Canadian M&A volumes totalled $34.7 billion in the first quarter, down 52.3% from a year ago, with dealmaking off to the worst start since the same period in 2020. Some market participants noted the second quarter is already off to a stronger start, with the mining sector gathering momentum. Abeed Ramji, head of Canadian Debt Capital Markets at TD, said the lack of issuance from banks impacted the corporate debt market, adding that global markets had become more expensive for financing.

☆ TD world's most shorted banking stock, shares down -ORTEX data
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

Around 4.1% of TD's outstanding shares were out on loan to hedge funds, while the second-most shorted bank stock, JP Morgan , only had $2.3 billion worth of shorts, showed the data. Hedge funds profit when they borrow a stock from an institutional investor and sell it back when the price falls, pocketing the difference, a practice known as short-selling. Turmoil in the banking sector began last month with the collapse of regional banks Silicon Valley Bank and Signature Bank, sparking a crisis of confidence. TD shares are down 15.7% since the beginning of the regional bank crisis and down 3.4% this week. Around 2.9% of BMO's outstanding shares were out on loan to hedge funds, or about $1.8 billion.

☆ TD world's most shorted banking stock, ORTEX data shows; shares fall
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

☆ U.S. bank crisis 'unlikely' to spill over to Canada, analyst says
▼ + stars: | 2023-03-20 | by ( Divya Rajagopal | ) www.reuters.com time to read: +4 min

read more"The U.S. contagion is unlikely to spill over to Canadian banks as the issues in U.S. are unique and specific to certain business models or lending activities," said James Shanahan, banking analyst with Edward Jones to Reuters. REGIONAL BANK SCRUTINYCanadian banks emerged stronger from the 2008 global financial crisis due to prudent regulations and since built a reputation for financial stability. The Canadian banks have kept their focus on domestic lending and majority of their earnings come from serving local clients. But in recent years, Royal Bank, BMO, TD Bank and CIBC (CM.TO) have expanded into the United States by buying regional lenders to benefit from strong growth in second-tier U.S. cities. However, last week the regional bank's stock was hit after the SVB collapse.

☆ Signature Bank buyer gets a crisis dividend
▼ + stars: | 2023-03-20 | by ( John Foley | ) www.reuters.com time to read: +4 min

The failure of lender Signature Bank (SBNY.O) has forced them to abandon their consolidation-skeptic principles, resulting in a sizeable crisis dividend for Signature’s new owner. Bank mergers almost never happen so quickly, and nobody knows that better than Community Bancorp boss Thomas Cangemi. A study by the St. Louis Federal Reserve found that failed bank selloffs did lessen competition, but not by much. Community Bancorp said it has taken on $13 billion in loans and $25 billion in cash as part of the deal. The FDIC has been given equity appreciation rights in New York Community Bancorp that could be worth up to $300 million.

☆ U.S. bank crisis 'unlikely' to spill over to Canada, analysts say
▼ + stars: | 2023-03-20 | by ( Divya Rajagopal | ) www.reuters.com time to read: +4 min

"The U.S. contagion is unlikely to spill over to Canadian banks as the issues in U.S. are unique and specific to certain business models or lending activities," said James Shanahan, banking analyst with Edward Jones to Reuters. REGIONAL BANK SCRUTINYCanadian banks emerged stronger from the 2008 global financial crisis due to prudent regulations and since built a reputation for financial stability. The Canadian banks have kept their focus on domestic lending and majority of their earnings come from serving local clients. But in recent years, Royal Bank, BMO, TD Bank and CIBC (CM.TO) have expanded into the United States by buying regional lenders to benefit from strong growth in second-tier U.S. cities. However, last week the regional bank's stock was hit after the SVB collapse.

☆ Man charged with dangerous driving after 'premeditated' killing of two in Canada
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Firefighters stand near the site where a man ran down a group of pedestrians with a van in the in the Lower St. Lawrence region of Amqui, Quebec, Canada on March 13, 2023. Prosecutors told reporters that more charges would be filed as police completed their investigations but said it was too early to talk about possible murder charges. Police spokesperson Claude Doiron told reporters Gagnon was cooperating in the investigation. Quebec prosecutor Simon Blanchette told reporters it was too early to speak about a motive. "We see these types of events are happening more and more around the world, it's not unique to us," Quebec Premier Francois Legault told reporters.

TORONTO, March 13 (Reuters) - Last week's sudden collapse of Silicon Valley Bank (SVB) could choke funding for Canada's technology start-ups and place them in the hands of domestic lenders who may be more selective in financing new ventures, financiers told Reuters. Companies including Shopify Inc (SHOP.TO) were examples of Canada's tech success story, which helped pull more investments into the sector. Benjamin Bergen, president at Council of Canadian Innovators, a lobby group for Canadian technology companies, agreed. "Before SVB went down, accessing capital was increasingly becoming tighter and tighter for Canadians for startups for scale ups," he said. Aside from the banks, the federal government also has a Venture Capital Catalyst Initiative program that invests in promising Canadian technology companies.

☆ Two dead, nine injured after being struck by van in Canada's Quebec
▼ + stars: | 2023-03-13 | by ( Nia Williams | ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Two people were killed and nine injured after being struck by a van on Monday in the Canadian town of Amqui, Quebec, provincial police said. Police spokeswoman Hélène St-Pierre said the circumstances of the collision were still being investigated and the driver of the van, a 38-year-old man, was under arrest. A man in his 70s and another man in his 60s were killed, St-Pierre said. Canadian Prime Minister Justin Trudeau said on Twitter that his heart was with the people of Amqui. "As we learn more about the tragic events that have taken place, I'm keeping everyone affected in my thoughts," he said.

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