Canada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus…
Canada’s fragile economy is what’s keeping everyone in the P&C insurance industry awake at night. The unknown future of an economy that is almost certainly headed for a global recession figured in the Top 3 answers of what P&C insurance…
TORONTO – The two-pronged battle to contain the spread of COVID-19 while inoculating the economy saw governments on Tuesday rush to ease financial hardship amid massive job losses even as they tightened restrictions that could last for weeks. With large…
MONTREAL – The global economic picture has worsened, increasing risks to global growth and chances of financial stress that could spill over into Canada, the senior deputy governor of the Bank of Canada said Tuesday. In a speech to the…
WASHINGTON – Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates. Speaking to…
OTTAWA – The pace of economic growth in Canada slowed in the third quarter as business investment spending fell and the growth in household spending slowed, raising questions about the future pace of interest rate hikes by the Bank of…
Natural resource industries still drive most Canadian mergers and acquisitions, but the financial services, technology and consumer industries are also expected to see a lot of M&A activity as the economy evolves, according to a new report. And one important…
OTTAWA – The economy’s surprisingly powerful second-quarter performance is pushing forecasters to change their outlooks – starting with predictions for Wednesday’s central bank rate announcement. Fresh data released last week showed the economy expanded at an annual pace of 4.5…
A malicious hack that fells a cloud service provider for a time has the potential to produce estimated economic losses of as much as US$53 billion, in line with the hit delivered by Superstorm Sandy, suggests a new research scenario…
The Bank of Canada announced on Wednesday that it has raised its interest rate for the first time in seven years, to 0.75% from 0.5%. “Recent data have bolstered the Bank’s confidence in its outlook for above-potential growth and the…
OTTAWA – The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in…
OTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month…