Home - banknews.tv

'Pros on the Go', a Fierce Tartan company are seeking insurance partners to pilot its new solution for streamlining the claims process.

Using financial data, Mark Sibthorpe compares the performance of TD bank to its rivals. TD grew faster in 2017 than its rivals, but was cited for aggressive sales practices.

Mr. Michael R. King, Tangerine Chair in Finance and Co-Director, Scotiabank Digital Banking Lab / Ivey Business School at Western University

This video covers XE.com's presentation at the AI, Big Data and Analytics event which took place in Toronto February 7/8, 2018. Cecelia Tamez and Jean Louis provide insights into their evolution and winning strategy.

Greenpeace's campaign to stop TD financing the oil sands is delusional. Trillions of dollars are at stake for the banks and the Canadian economy. This video explores the related financial issues.

This video provides an overview of the main differences between Canada's approach to overland flooding versus the US approach.

Canadian bank overview part 5, medium-large banks. Banks include Manulife, Tangerine and Laurentian Bank.

Canadian banking industry overview of Canadian Tire Bank, Presidents Choice Financial, Equitable Bank, B2B Bank

Overview of small-medium size banks in Canada. Banks covered include Versabank, Hollis Bank, Equity Bank and Caisse Populaire Acadienne.

Review of small banks including Bridgewater,Vancity Bank, Concentra, Wealth One, Zag...

Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.

RBC invested $24 million into Wave Technologies and now they will roll out Waves accounting, invoicing, reporting and billing platform to SMEs.

Overview of Canadian banking industry. This multi-part series looks at issues facing Canadian banks from a variety of angles. Part 1 examines the types of banks and scale using ROE and EBITDA as measures.


About

About BankNews TV: financial services industry monitor (FSIM), analytics and research

Latest news and events for Canadian financial service companies, analytics, fintech and AI. BankNews.TV provide the latest technology news and reports for banks and insurance companies looking to compete in a rapidly changing market.

Analytical information and financial information related to technogies that can change your business.

Select financial data to upload:

Please download and complete the data template that you need to upload. See financial data upload section above for details of how this data will be used.

Research

Observations and overview of 2018 NB flood support from government and insurance companies.  

www.banknews.tv/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf

Mark Sibthorpe

 


Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:

"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.

 

"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.

 

With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.

 


Update Argentina: a sign of the times  

www.banknews.tv/docs/Update Argentina_ a sign of the times.pdf

Mark Sibthorpe

Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.


Summary of Canada's flood news, 2017 to present  

www.banknews.tv/docs/Summary-of-flood-news-2017-present.pdf

Mark Sibthorpe

This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.


Banking on Pot  

www.banknews.tv/docs/c10191_banking-on-pot.pdf

SBS

As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).


Canadian banking industry overview  

Mark Sibthorpe

The industry overview is divided into 5 parts:

Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks


2014 Mobile payments the Apple pay way  

www.banknews.tv/docs/Mobile_Payments_Apple_Pay_2014.pdf

Mark Sibthorpe

With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives. 


Death to bitcoin, long live the blockchain   (See full report)

Mark Sibthorpe

Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.


TD bank industry conduct  

www.banknews.tv/docs/tdind2.pdf

Mark Sibthorpe

TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.


Book review: Back from the Brink  

www.banknews.tv/docs/backbrink.pdf

Mark Sibthorpe

This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.


Footnote 151  

www.banknews.tv/docs/footnote151.pdf

Mark Sibthorpe

Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks. 


Save the Canadian economy now  

www.banknews.tv/docs/helecopter-money.pdf

Mark Sibthorpe

Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.


Reasons financial service companies should consider gamification  

www.banknews.tv/docs/Gamfin.pdf

Mark Sibthorpe

Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.


National Bank Special Report  

www.banknews.tv/docs/NatBSpec.pdf

Mark Sibthorpe

According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”


Will Canadian banks charge companies for deposits?  

www.banknews.tv/docs/depgrowthimpact2.pdf

Mark Sibthorpe

In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.


Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess  

www.banknews.tv/docs/ctfsfinal.pdf

Mark Sibthorpe

Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.


Finance minisiter scorecard August 26, 2015  

www.banknews.tv/docs/Scorejo-August-2015.pdf

Mark Sibthorpe

This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.


Xtreme Branch  

www.banknews.tv/docs/xbranch.pdf

Mark Sibthorpe

Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.


Canadian Nudge  

www.banknews.tv/docs/nudge.pdf

Mark Sibthorpe

Whether he knew it or not, Tom Reid, a senior vice-president at Sun Life, made a case for the behavior modification concept ‘Nudging’ when he recently proposed auto-enrolling Canadians in his company’s pension plans. Sun life cover 1.2 million Canadians, about 60% of the eligible employees.
According to Reid,


CWB cause for concern  

www.banknews.tv/docs/cwbupdate.pdf

Mark Sibthorpe

In an earlier report BankNews.TV expressed concerns about CWB. Here are 5 charts that show cause:
1. First earnings drop in years;
2. Deposits dropping which will increase cost of funds in the future.


BNTV Overview  

www.banknews.tv/docs/overviewpdf.pdf

BNTV

BankNews.TV Publishing Corp services overview document:

  • Analytics
  • Financial services industry monitor (FSIM) industry briefings and developments reports
  • Research


Challenger banks not a threat to big banks  

www.banknews.tv/docs/challenger.pdf

Mark Sibthorpe

This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.


Gamification of financial data project  

www.banknews.tv/docs/GamingEventProposal-printsample--en-final.pdf

Mark Sibthorpe

This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.


The impact a rate rise will have for Canadian banks  

www.banknews.tv/docs/irr-f.pdf

Mark Sibthorpe

Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.

This report looks at the issues facing Canadian banks in the event of a Bank Rate rise.  


FIFA: the new goldenballs  

www.banknews.tv/docs/goldenballs.pdf

Mark Sibthorpe

Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.


Scorecard Minister of Finance: JIm Flaherty  

www.banknews.tv/docs/Scorecard Min Fin Flaherty April 8 2014.pdf

Mark Sibthorpe

March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.


Sample RFP for a Loyalty Program  

www.banknews.tv/docs/sample RFP for a loyalty program.pdf

Mark Sibthorpe


Merchants extend financial services  

www.banknews.tv/docs/merchantfs.pdf

Mark Sibthorpe

Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.


Hot Money: real-estate  

www.banknews.tv/docs/hotmoney.pdf

Mark Sibthorpe

Canadian and London real estate, like Macau, may also be a convenient means for China’s elite to move money offshore; with the deleterious effect of driving up home values. Louise Shelley`s research concurs. In a published paper written for the National Defense University, Shelley argues that money laundering in real estate (MLRE) increases prices.


Currency Cheat Sheet: a guide for the rest of us  

www.banknews.tv/docs/currencycheatsheet.pdf

Mark Sibthorpe

Readers of this document will be presented with monetary policy issues and facts
that show the USD will likely remain the dominant reserve currency, despite
questionable Chinese practices, record US debt levels, and a shaky economy.


Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.  

www.banknews.tv/docs/gq4risk.pdf

Mark Sibthorpe

Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.


Canadian Western Bank Competitive Forecast  

www.banknews.tv/docs/cwbf.pdf

Mark Sibthorpe

Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.


Liquid Canada: the tipping point  

www.banknews.tv/docs/Liquid.pdf

Mark Sibthorpe

This report examines liquidity issues in the Canadian financial service industry.


Bank Fees  

www.banknews.tv/docs/Bank fees.pdf

Mark Sibthorpe

Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.


Cheap Oil Report  

www.banknews.tv/docs/co2.pdf

Cheap oil has pushed the Bank of Canada's governor, Stephen Poloz onto a slippery slope. For some background on this, take October 22nd, when Poloz bid farewell to forward guidance, resulting in yesterday's surprise rate cut. A cut that has enraged TD and other banks, which see this as eroding profits.
 


Canada's Economy, a strategic solution  

www.banknews.tv/docs/ces.pdf

This report explores Canada's strategies to compete globally. The report begins with an analyses of the housing market, because housing is the canary in the coal mine; explores what happens in the event of collapse; and analyses the underlying problem causing Canada to be uncompetitive.
 


Complete loyalty RFP  

www.banknews.tv/docs/booksample.pdf

Merchants that want to understand loyalty, credit and mobile payments should read this book. It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives.
 


Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants  

www.banknews.tv/docs/booksample.pdf

Merchants that want to understand loyalty, credit and mobile payments should read this book. It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives.
 


Report on merchants extending financial services  

www.banknews.tv/docs/

Special report explaining why some merchants in the UK, U.S. and Canada are expanding their financial services. The paper discusses the structural and regulatory pressures facing merchants and explains the rational behind key decisions. This is an 8 page high level report
 


Guide to system selection  

www.banknews.tv/docs/gssnow.pdf

Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.


News feed

HOW CAN INSURANCE BROKERS USE RATE COMPARISON SITES TO BOOST THEIR BOOKS OF BUSINESS?

Insurance Business - Bethan Moorcraft (2020-12-07)

Enter, rate comparison websites. They’re all the rage in the UK and the USA, where consumers use comparison sites to shop for insurance much like Canadians do when comparing travel costs on sites like Expedia and Trivago. But Canadians are slowly starting to catch on to the insurance comparison trend. They’re searching for and finding platforms like LowestRates.ca, which is enabling consumers to compare insurance premium prices across a number of product lines, primarily in auto and home insurance.


WHY CANADIAN COMPANIES ARE DROPPING THEIR DIVIDEND REINVESTMENT PLANS

G&M - G&M (2019-01-21)

 Canadian Utilities is just the latest company to drop its DRIP - Enbridge, H&R REIT and RioCan REIT are among the others.


BROKEN BLUE CHIPS: MANULIFE AND POWER FINANCIAL FIGHT TO SHAKE OFF THE EFFECTS OF A CRISIS

G&M - David Berman (2019-01-21)

Manulife Financial Corp. and Power Financial Corp. have more than a few things in common. But here’s the big one: These former stock-market superstars have done poorly since the eruption of the credit crisis, underperforming other Canadian financial companies by a wide margin and leaving long-term investors exasperated.


CANADA PLANS U.S. DOLLAR GLOBAL BOND ISSUE TO PAD FX RESERVES

G&M - Fergal Smith (2019-01-21)

Canada is planning to issue a global bond denominated in U.S. dollars later this week, subject to market conditions, the country’s Department of Finance said on Wednesday.


CANADA POST UNION PITCHES LOW-INCOME BANK, GREENER TECH. BUT CRITICS ASK, WHO PAYS THE BILL?

CBC - Chris Arsenault (2019-01-21)

The proposed postal bank is aimed at rural residents, including First Nations, who often don't have easy access to a bank branch, said John Anderson, researcher with the Canadian Centre for Policy Alternatives, a think-tank whose advocacy areas include reducing income inequality. It would also benefit low-income Canadians, including pensioners and the working poor who often depend on payday lenders for loans, cheque cashing and other financial services.


DEFRAUDED B.C. INVESTORS TO RECEIVE $1.1 MILLION

Insurance Journal - IIJ (2019-01-21)

The British Columbia Securities Commission (BCSC) announced Jan. 17 that investors defrauded by David Michael Michaels will get some money back after the regulator obtained money from the sale of Michael's Hawaiian property and a cash payment from Michaels.


HOW SUBROGATED CLAIM LEADS TO LANDMARK WIN FOR GUARANTEE

Canadian Underwriter - Greg Meckbach (2019-01-21)

A-1 Asphalt Maintenance Ltd. went bankrupt in 2014. At that time it was a contractor on four road-paving projects in Ontario. As a result of A-1 Asphalt’s bankruptcy, the Guarantee Company paid out nearly $1.9 million on surety bond claims.


WHY CANADA’S LARGEST MUTUAL INSURER IS NOT DEMUTUALIZING

Canadian Underwriter - Greg Machbach (2019-01-21)

“Everybody says, ‘Because of what Economical is doing, are you going to demutualize?’ No,” Carol Jardine, president of the Canadian property and casualty operations of Wawanesa Mutual Insurance Company, said Thursday during a luncheon hosted by the Insurance Brokers of Toronto Region (IBTR).


MOST MERCHANTS—78%—EXPERIENCE FEWER CHARGEBACKS UNDER NEW VISA RULES, SAYS ONE SURVEY

Digital Transactions - Kevin Woodward (2019-01-21)

Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program.


THE CENTRAL BANK OF RUSSIA SHIFTS ITS RESERVES AWAY FROM THE DOLLAR

Economist - Economist (2019-01-20)

On January 9th it revealed that it had dumped $101bn in dollar reserves last spring, shifting instead to euro and yuan holdings. The dollar had accounted for nearly half of its $430bn of reserves at the end of 2017 (see chart). Six months later only 22% of reserves were held in dollars, at least half of which were held outside America. Strikingly, yuan holdings jumped to nearly 15%, a share ten times the average for global central banks, and a reflection of China’s growing importance for Russia’s economy.


ECONOMISTS RECONSIDER HOW MUCH GOVERNMENTS CAN BORROW

Economist - Economist (2019-01-20)

Such figures might once have sent the country’s deficit scolds into conniptions. But scolds are in short supply, at least within the halls of Congress. Republicans were the architects of President Donald Trump’s budget-busting tax plan. Some Democrats are less content than ever to tie their hands with the fiscal rules that Republicans routinely flout. Early this year progressive Democrats urged Nancy Pelosi, the speaker of the House of Representatives, to abandon “paygo” rules, which require that new spending be paid for with matching tax increases or offsetting spending cuts.


INTERACTIVE SPHERES OF INFLUENCE ON DAVOS

Reuters - Reuters (2019-01-20)

The World Economic Forum in Davos, Switzerland hosts just over 3,000 DELEGATES representing 114 COUNTRIES from Jan. 22 to Jan. 25. But with delegates from four countries comprising 50 percent of the total, a handful of nations will wield outsize influence at the elite gathering of world leaders and chief executives. 


RAPPER SNOOP DOGG BACKS SWEDISH ONLINE PAYMENTS COMPANY

Bloomberg - Niclas Rolander (2019-01-20)

Klarna Bank AB turns to Snoop Dogg to promote ist online payment sesrvices.


CHINA THREATENS REPRISALS IF CANADA BANS HUAWEI FROM ITS 5G NETWORKS

G&M - Robert Fife, Steven Chase, Bill Curry (2019-01-18)

China will retaliate if Ottawa bans Huawei Technologies from supplying gear for its next-generation 5G mobile networks over espionage concerns, the country’s envoy said on Thursday, as he called the arrest of a company executive a “backstabbing" betrayal of Canada’s relationship with China.


CREDIT CARDS GET THE HATE, BUT HELOCS ARE THE CRUSHING DEBT

G&M - Rob Carrick (2019-01-18)

Debt has to be the most talked about personal finance topic of the past decade.


CAISSE LURES SCOTIABANK’S INVESTMENT BANKING HEAD FOR EXECUTIVE ROLE

G&M - Tim Kiladze (2019-01-18)

Quebec’s leading pension fund has hired a well-known deal-maker from Bank of Nova Scotia to join its executive ranks.


MALAYSIA SAYS GOLDMAN SACHS MUST PAY, APOLOGY NOT ENOUGH

CBC - AP (2019-01-18)

Malaysia's Finance Minister Lim Guan Eng said Friday that an apology by Goldman Sachs for its role in the alleged multibillion-dollar ransacking of state investment fund 1MDB was insufficient and that it must pay $7.5 billion US as compensation.


'UNCHARTED WATERS': WALL STREET GROWS ANTSY AS SHUTDOWN THREAT TO STOCKS INTENSIFIES

FP - Reade Pickert (2019-01-18)

A growing group of analysts and investors is warning that the U.S. government shutdown could soon hurt stocks.


‘I FEEL GOOD ABOUT THE PROGRESS WE’VE MADE’: HOW CEO ROY GORI IS WORKING TO REINVIGORATE MANULIFE

FP - Barbara Shecter (2019-01-18)

The insurance and asset management giant’s chief executive, who has been in the job for just over a year, says he’s pleased with progress the company has made pursuing his strategic initiatives, such as rolling out consumer-friendly and cost-saving technology, and the redeployment of capital into higher-return businesses.


USAGE-BASED INSURANCE SET FOR SIGNIFICANT GROWTH - REPORT

Insurance Business - Ryan Smith (2019-01-18)

The usage-based insurance (UBI) market is expected to grow at a compound annual growth rate of more than 17% between 2018 and 2024, according to a new report by consulting firm Global Market Insights.


IA FINANCIAL INTRODUCES VIRTUAL ASSISTANT TO HELP CLIENTS

Insurance Business - Lyle Adriano (2019-01-18)

The new iA Virtual Assistant allows clients to contact the company with any issues that they may have. It can also calculate how much investors should contribute to their RRSP and estimate the amount saved when they retire. The assistant can also locate nearby healthcare providers that meet the eligibility criteria of group plan members’ employers.


GUY CARPENTER IN SHAKE-UP AHEAD OF MERGE WITH JLT RE

Insurance Business - Terry Gancuangco (2019-01-18)

Marsh & McLennan Companies (MMC) unit Guy Carpenter (GC) is all geared up for its imminent merge with Jardine Lloyd Thompson Group’s (JLT) reinsurance broking business. 


HOW WEAK INSURANCE SECTOR GROWTH PUTS TECHNOLOGY IN THE SPOTLIGHT

Canadian Underwriter - Jason Contant (2019-01-18)

“Margin pressures are straining the growth potential of many insurers in Canada,” said Janice Deganis, EY Canada insurance leader, in a press release earlier this week. “Digital transformation is no longer optional, but absolutely necessary to optimize costs and reinvest in future-focused areas of the business that generate results.”


U.S. LAUNCHES NEW CRIMINAL PROBE OF HUAWEI OVER ALLEGED TRADE-SECRET THEFTS

G&M - Steven Chase, Robert Fife (2019-01-17)

U.S. prosecutors have launched another criminal investigation of China’s Huawei Technologies – for stealing American trade secrets – as the United States campaigns to persuade allies such as Canada and Britain to ban the telecom-equipment maker’s gear from next-generation 5G networks.


RBC CUTS FIVE-YEAR FIXED MORTGAGE RATE, OTHER BANKS EXPECTED TO FOLLOW

G&M - Janet McFarland (2019-01-17)

Royal Bank of Canada has become the first of the major banks to lower its posted interest rate for five-year fixed-term mortgages, a move that has been widely anticipated amid tumbling bond yields.


CANADIAN HOUSING MARKET IS FEATURED PROMINENTLY IN GLOBAL RESEARCH REPORT, FOR ALL THE WRONG REASONS

G&M - Scott Barlow (2019-01-17)

Canada featured prominently, for all the wrong reasons, in an in-depth Citi research report called, “Flashing Red, Green, or Yellow? – House Price Risks to the Global Economic Outlook”,


CYBER THIEVES MAKE OFF WITH HUNDREDS OF THOUSANDS OF DOLLARS IN ATTACK TARGETING COAST CAPITAL SAVINGS

CBC - Karin Larsen (2019-01-17)

Coast Capital Savings says 140 members had money stolen from their accounts during a targeted cyber fraud attack in November and December of last year.  


BLACKROCK’S ASSETS SLIP UNDER US$6 TRILLION AFTER MARKET TURMOIL

FP - Annie Massa (2019-01-17)

Even the world’s largest money manager BlackRock Inc. felt pressure as markets convulsed at the end of 2018.


BMO UNIFIES PRIVATE BANKING AND FULL-SERVICE BROKERAGE

Insurance Journal - IIJ (2019-01-17)

BMO Financial Group has announced the creation of BMO Private Wealth Canada and Asia – unifying BMO Private Banking and full-service brokerage BMO Nesbitt Burnsunder one leadership team.


TOTAL INSURED DAMAGE FROM EXTREME WEATHER IN CANADA REACHES $1.9 BILLION

Insurance Business - Alicja Grzadkowska (2019-01-17)

Other major weather events in 2018 included the Ottawa-Gatineau tornadoes, which caused nearly $300 million in insured damage, and summer storms in the Prairies that caused more than $200 million in insured damage. Considering the steep price of extreme weather events and a changing climate, IBC continues to work with governments across the country to advocate for increased investment to mitigate the impacts of extreme weather in the future, and make communities more resilient to its damaging effects.


HOW FLOOD RISK WILL CHANGE IN NORTHERN CANADA

Canadian Underwriter - Bob Weber (2019-01-17)

“These are greater impacts than anything I’m aware of,” said John Pomeroy, head of the University of Saskatchewan’s Global Water Futures program and lead author on a recently published paper.


IN THE BOND MARKET, THE ECONOMY IS STILL SOMETHING TO WORRY ABOUT

NY Times - Stephen Grocer (2019-01-17)

The huge swings that defined stock trading in December have ended. That doesn’t mean investors think everything is fine.


MASTERCARD CRACKS DOWN ON 'FREE TRIAL' SUBSCRIPTIONS

Finextra - Finextra (2019-01-17)

The rule change will require merchants to gain cardholder approval at the conclusion of the trial before they start billing. To help cardholders with that decision, merchants will be required to send the cardholder - either by email or text - the transaction amount, payment date, merchant name along with explicit instructions on how to cancel a trial.


UK IS "LEADER" OF EUROPE-WIDE API STANDARDISATION

Bobsguide - Rebekah Tunstead (2019-01-17)

“The UK is the first mover on this [Open Banking] across Europe and globally,” said Alan Ainsworth, head of policy at the Open Banking Implementation Entity (OBIE), at an industry event this week in London. “So it is important that we enable the UK businesses and fintechs to take advantage of the opportunity by being the first mover, by ensuring rigorous implementation of Open Banking standards, so that the fintech community not just in London, but throughout the UK can start to offer services globally,” said Ainsworth.


THURSDAY’S INSIDER REPORT: CEO INVESTS NEARLY $880,000 IN SHARES OF THIS BANK STOCK

G&M - Jennifer Dowty (2019-01-17)

Between Jan. 4 and Jan. 14, president and chief executive officer David Taylor invested nearly $880,000 in shares of the company. He purchased a total of 123,100 shares across several accounts at an average price per share of approximately $7.15.


ECB CONCERNED BY REPORTS SPANISH BANK BBVA HIRED FIRM TO SPY IN 2004: SOURCES

Reuters - Belen Carreno (2019-01-17)

The ECB has expressed concerns over reports that Spanish bank BBVA (BBVA.MC) hired a former police chief in 2004 to spy on a would-be buyer and some of its officials have discussed it with the bank, a source with knowledge of the situation told Reuters.


VOLATILE MARKET HITS MORGAN STANLEY'S TRADING, WEALTH MANAGEMENT

Reuters - Elizabeth Dilts, Aparajita Saxena (2019-01-17)

Morgan Stanley’s (MS.N) quarterly profit fell short of expectations as bond trading revenue slumped more than rivals and its wealth management business faltered, sending its shares down more than 5 percent.


MORGAN STANLEY IS READY, AFTER A DECADE, TO GROW THROUGH DEALS

Bloomberg - Sonali Basak (2019-01-17)


CHINA’S BANKS CAN HANDLE A RATE CUT

Bloomberg - Nisha Gopalan (2019-01-17)

Bank stocks in China are underperforming, a sign the market is worried about them. Should you be? Banks make up a big part of indexes for onshore Chinese stocks and are therefore in many portfolios whether investors know it or not.


SQUARE LAUNCHES DEBIT CARD FOR BUSINESSES

Finextra - Finextra (2019-01-17)

Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre


SO MUCH FOR RISING INTEREST RATES: THE RETURNS ON GICS HAVE TAKEN AN UNEXPECTED DOWNTURN

G&M - Rob Carrick (2019-01-16)

The rising trend for rates on guaranteed investment certificates has abruptly fizzled.


CANADIANS WEIGHED DOWN BY LINES OF CREDIT THEY DON'T UNDERSTAND

CBC - Susan Noakes (2019-01-16)

Over the past 15 years, home equity lines of credit have emerged as the driver of mounting non-mortgage debt in Canada — yet many Canadians don't understand what they've signed up for and are not moving to pay them off, a new survey suggests.


BREXIT PUSHES U.K. TO BRINK AS GOVERNMENT FIGHTS TO SURVIVE

Bloomberg - Robert Hutton (2019-01-16)

The U.K. stands at its most dangerous crossroads in decades after Parliament emphatically rejected Theresa May’s Brexit deal and left her facing an uncomfortable vote to oust her government.


MORGAN STANLEY NAMES 145 MANAGING DIRECTORS, ITS TOP RANK

Bloomberg - Sonali Basak (2019-01-16)


GOLDMAN SAYS RICH PEOPLE WILL DRAG DOWN THE U.S. ECONOMY BY SPENDING LESS

Bloomberg - Joanna Ossinger (2019-01-16)


FISERV AGREES $22BN FIRST DATA ACQUISITION

Finextra - Finextra (2019-01-16)

This represents $22.74 based on closing prices as of January 15, and a premium of 29% to the five-day volume weighted average price as of that date. Fiserv shareholders will own 57.5% of the combined company and First Data shareholders 42.5%.


SPELLING RELIEF: JUST TWO MORE RATE HIKES (SO YOU MAY NOT NEED THE ROLAIDS, AFTER ALL)

G&M - Michael Babad (2019-01-16)

Some observers now believe the Bank of Canada will raise interest rates just two more times, and then call it quits.


INVESTMENT BANKING DRIVES EARNINGS BEAT FOR GOLDMAN SACHS IN Q4

FT - Laura Noonan (2019-01-16)

The firm, the closest thing to a pure play investment bank that Wall Street has left, posted pre-tax profits of $2.708bn, beating the $2.39bn predicted by analysts but down 13 per cent year-on-year.


WHAT TO LOOK FOR IN US BANK EARNINGS

FT - Laura Noonan and Robert Armstrong (2019-01-16)

Are US banks doing as badly as their shares? The value of Wall Street’s big six banks fell by more than $200bn in the final three months of 2018, as investors fretted about choppy markets, a possible recession and interest rates.


SANTANDER DITCHES APPOINTMENT OF ANDREA ORCEL AS CEO

FT - Chris Newlands (2019-01-16)

Santander has dropped its appointment of Andrea Orcel as the Spanish bank's new chief executive, with the company citing problems over the 55-year-old's pay packet.


BANK OF AMERICA RESULTS SOOTHE RECESSION FEARS

FT - Robert Armstrong (2019-01-16)

Chief executive Brian Moynihan said that, despite global concerns ranging from Brexit to the slowdown in China, “here in the US we see strong indications of continued growth”.


CARNEY WARNS OF VOLATILITY AFTER BREXIT DEAL VOTE

FT - Caroline Binham (2019-01-16)

“The market is waiting,” Mr Carney told parliamentarians on Wednesday morning, explaining that a sharp rebound in sterling following last night’s vote reflected market sentiment that the chances of the UK crashing out of the EU with no deal in place had waned. He added that he put “little weight” in short-term moves.


POOLED-RISK PENSION PLANS WOULD GIVE MANY CANADIANS A MORE FINANCIALLY SECURE RETIREMENT

G&M - Bonnie-Jeanne Macdonald (2019-01-15)

As private-sector defined benefit (DB) pension plans continue to struggle, defined contribution (DC) plans are emerging as the most common option for providing retirement income. Of the three million Canadians in private-sector pension plans today, those in DC plans will soon outnumber those in the traditional DB model.


CITIGROUP SHARES RISE AS BANK BEATS PROFIT ESTIMATES

G&M - IMANI MOISE AND SIDDHARTH CAVALE (2019-01-15)

Citigroup Inc said it would earn $2 billion more in revenue from its lending activities this year than in 2018 as it reported better than expected fourth-quarter earnings, sending its shares more than 4 per cent higher.


CANADIAN DOLLAR SLIPS TO A SIX-DAY LOW AMID CONCERNS FOR GLOBAL ECONOMY

G&M - Fergal Smith (2019-01-15)

The Canadian dollar weakened to a six-day low against its U.S. counterpart on Monday, reducing gains since the start of the year as oil prices fell and weak Chinese trade data raised concerns about prospects for the global economy.


OSC LOOKING TO LIGHTEN REGULATORY LOAD ON COMPANIES — AND IT WANTS SUGGESTIONS

FP - Barbara Shecter (2019-01-15)

Canada’s largest capital markets watchdog kicked off a broad consultation Monday aimed at reducing costly and outdated rules and lightening the regulatory burden on companies.


ONTARIO CREDIT UNIONS NOW ABLE TO PARTICIPATE IN BANK-LED SYNDICATED LOANS, FOLLOWING RULE CHANGE

FP - Geoff Zochodne (2019-01-15)

Ontario’s credit unions can now take part in group loans that are spearheaded by banks, a result of changes made as part of Premier Doug Ford’s push to ensure the province is “open for business.”


SWISS RE REVEALS MASSIVE Q4 CLAIMS BURDEN FROM NATURAL CATASTROPHES

Insurance Business - Terry Gancuangco (2019-01-15)

An estimated US$1 billion, net of retrocession and before tax, is what Swiss Re is looking at as its preliminary claims burden for the fourth quarter of 2018 due to natural catastrophes.   


REGULATOR GIVES GO AHEAD TO GENWORTH DEAL

Insurance Business - Lyle Adriano (2019-01-15)

China Oceanwide’s proposed acquisition of life insurer Genworth Life Insurance Company of New York has been approved by the New York State Department of Financial Services (NYDFS).


ONE WAY TO BULLET-PROOF YOUR WAIVER CLAUSE: TRIBUNAL

Canadian Underwriter - Greg Mechbach (2019-01-15)

The use of bold lettering and capitalization in a waiver clause helped a storage locker firm defend itself from a claim from a customer.


BETTER VALUE THAN U.S. STOCKS: ASIAN SHARES HIT FIRE-SALE VALUATIONS

WSJ - Mike Bird (2019-01-15)

Asian stocks and corporate bonds were hammered in 2018 by trade tensions, U.S. interest-rate increases and Beijing’s deleveraging policies. After 12 months of turmoil, those assets look cut-price on some measures.


PG&E BANKRUPTCY TESTS WHO WILL PAY FOR CALIFORNIA WILDFIRES

NY Times - Ivan Penn, Thomas Fuller and Lisa Friedman (2019-01-15)

Pacific Gas and Electric said on Monday that it would seek bankruptcy protection as “the only viable option” as the giant California utility faces billions of dollars in liability claims from two years of deadly wildfires.


CANADIAN HOME SALES IN 2018 TOOK LARGEST TUMBLE SINCE FINANCIAL CRISIS

G&M - Janet McFarland (2019-01-15)

Homes sales fell 11.1 per cent in Canada last year as new federal mortgage qualification rules and higher interest rates sharply curtailed market activity, marking the largest decline in annual sales since the financial crisis in 2008.


AN ALREADY FEEBLE CANADIAN DOLLAR WILL BE ‘WEAKER FOR LONGER,’ BIG U.S. BANK SAYS

G&M - Michael Babad (2019-01-15)

A major American bank is "bearishly revising" its outlook for the Canadian dollar, largely because of what it expects will be a bumpier road to signing off on the proposed new U.S.-Mexico-Canada trade deal.


JPMORGAN SHARES FALL AS SLUMPING BOND TRADING WEIGHS ON PROFIT

G&M - ELIZABETH DILTS AND SIDDHARTH CAVALE (2019-01-15)

JPMorgan Chase & Co missed profit estimates for the fourth quarter as a slump in bond trading revenue overpowered strong consumer loan growth and record revenues.


CHINA SIGNALS MORE STIMULUS AS ECONOMIC SLOWDOWN DEEPENS

G&M - Kevin Yao (2019-01-15)

China on Tuesday signaled more stimulus measures in the near term as a tariff war with the United States took a heavy toll on its trade sector and raised the risk of a sharper economic slowdown.


THE PROBLEM WITH HOME EQUITY LINES OF CREDIT? PERMA-DEBT

G&M - Rob Carrick (2019-01-15)

We need warnings labels for home equity lines of credit.


AVERAGE CANADIAN HOUSE COST $472K IN DECEMBER, DOWN 4.9% IN 2018

CBC - CBC (2019-01-15)

"Trends were pushed higher in December 2017 by homebuyers rushing to purchase before the new federal mortgage stress test took effect at the beginning of 2018," CREA president  Barb Sukkau said. "Since then, the stress test has weighed on sales to varying degrees in all Canadian housing markets and it will continue to do so this year."


MORE THAN 100 FIRST NATIONS COULD PURCHASE THE TRANS MOUNTAIN EXPANSION PIPELINE

CBC - Kyle Bakx (2019-01-15)

Dozens of First Nations leaders are meeting this week to discuss a plan that could make them the next owners of the controversial Trans Mountain pipeline.


JANA PARTNERS LIQUIDATES TWO HEDGE FUNDS, TO FOCUS ONLY ON ACTIVISM

FP - Svea Herbst-Bayliss (2019-01-15)

Jana Partners LLC, founded by Barry Rosenstein, is shutting down two stock-picking hedge funds following losses and will focus instead on its main strategy of investing in a handful of companies and pushing management to improve their performance.


FIRM THAT CRUSHED COMPETITION ON INVESTMENT RETURNS LAST YEAR WANTS TO START ONE OF CANADA’S BIGGEST HEDGE FUNDS

FP - Paula Sambo (2019-01-15)

A Canadian investment firm that crushed the returns of its peers last year is looking to raise $500 million (US$377 million) for what would be one of the country’s largest hedge funds.


CANADA’S HOUSING MARKET: AN ‘UGLY’ DECEMBER REPORT WILL CAP THE WORST ANNUAL SHOWING SINCE 2008

G&M - Michael Babad (2019-01-14)

Tuesday's report on home sales and prices won't just cap a tumultuous year for Canada's housing markets. It'll be downright "ugly."


FAKE DATA ARE HIDING THE REAL STATE OF CHINA’S ECONOMY

G&M - Barrie McKenna (2019-01-14)

U.S. President Donald Trump is convinced China is ready to make big trade concessions because it’s on the ropes economically.


ONTARIO TO REVIEW AUTO INSURANCE RATES (AND HERE’S WHO TO MOAN TO IF YOU LOATHE YOURS)

G&M - Michael Babad (2019-01-14)

The Ontario government has launched a review of auto insurance rates.


TERENCE CORCORAN: A WORLD BANK SHAKEUP COULD DRIVE TRUDEAU EVEN FURTHER FROM TRUMP

FP - Terence Cocoran (2019-01-14)

The surprise early resignation of World Bank President Jim Yong Kim on Monday has produced a flurry of reactions from the bank’s supporters and critics, although none have come close to outlining the best option for a post-Second World War institution that long ago outlived its original purposes. Does a 21st-century world economy awash in massive flows of investment cash really need a meddling, bureaucratic, multi-tentacled, government-backed fake financial institution that has, under Kim, been transformed into (among other things) a raging green lending machine that aims to deny developing countries poverty-relieving investment in fossil fuels and other resources in favour of windmills and solar panels?


RBC'S CEO VOWS IMPROVEMENT ON BANK'S DISAPPOINTING MORTGAGE PERFORMANCE

FP - Doug Alexander (2019-01-14)

Royal Bank of Canada Chief Executive Officer David McKay is vowing to do better on Canadian mortgages after a couple years of disappointing performance.


LAWRENCE SOLOMON: REMEMBER TRUMP’S SUPPOSEDLY ‘LOSE-LOSE’ TRADE WAR? HE’S WINNING. CHINA'S LOSING.

FP - Lawrence Solomon (2019-01-14)

What a difference a trade war makes. No one marvels at the Chinese economy today.


TAX CUT HELPED BANKS’ EARNINGS GROWTH—BUT NOT FOR MUCH LONGER

WSJ - Michael Rapoport (2019-01-14)

The earnings outlook is about to get dicier for big banks.


DRESSING FOR DEALS, WALL STREET BANKERS FACE FASHION PITFALLS

WSJ - Telis Demos, Ray A. Smith (2019-01-14)

Wall Street, the last bastion of traditional corporate dress code, has been loosening its tie—and in some cases, getting rid of it completely—as male bankers increasingly take their sartorial cues from clients.


DEFAULT FEARS ADD FRESH STRESS TO CHINESE PRIVATE SECTOR

WSJ - Shen Hong (2019-01-14)

A surge of defaults has shaken China’s $4 trillion corporate bond market, amplifying a growing divide between struggling private firms and a resurgent state sector.


BANK OF CHINA TO ENABLE PAYMENT IN YUAN ON U.S. E-COMMERCE PLATFORMS: XINHUA

Reuters - Reuters (2019-01-14)

Bank of China’s New York branch will enable Chinese firms to receive payment in yuan rather than dollars from their sales on U.S. e-commerce platforms this year, the official Xinhua news agency reported on Sunday.


FOR EMERGING MARKETS, A MORE FEARFUL FED IS A LESS FRIGHTFUL ONE

Economist - Economist (2019-01-14)

Spare a thought for emerging markets. When America’s economy falters, they often share the pain, because America is an indispensable market for their goods. But when America’s economy prospers, they can also suffer, because the Federal Reserve will raise interest rates, lessening demand for emerging-market assets.


WHAT ARE LEVERAGED LOANS?

Economist - Economist (2019-01-14)

The market for leveraged loans has grown rapidly in the past few years. S&P Global Market Intelligence estimates that more than $1.4trn-worth was outstanding at the end of last year, twice as much as in 2011 (see chart). In 2018, $736bn-worth was issued, just shy of 2017’s record. (Some estimates say the market is bigger still.) Lenders have been keen because leveraged loans have offered decent returns when interest rates have been ultra-low; because most are at floating rates, they pay more as rates rise. They are usually secured, giving some comfort if borrowers default. Borrowers like leveraged loans because they are more flexible than bonds. For instance, they are easy to repay early. Plentiful credit has gone hand in hand with a decline in credit standards. These days most loans have few, if any, “covenants” that would require borrowers to meet specified financial conditions in order to protect lenders if things go wrong.


CANADIAN REAL ESTATE PRICES ARE THE FASTEST FALLING IN THE G7, JUST 1 YEAR AFTER LEADING

Better Dwelling - Daniel Wong (2019-01-14)

Canadians love real estate so much, they’ve sent price growth higher than almost all of its peers. US Federal Reserve numbers show the market had the highest price growth of any G7 country, as of 2018 Q3. Just last year, prices in Canada were the fastest growing annually in the group. This year, they’re the fastest falling. Here’s some quick insights from the latest numbers.


BATTERED U.S. BANK STOCKS MAY GET A BOOST THIS YEA

G&M - Sinead Carew (2019-01-13)

After a miserable 2018, big U.S. bank stocks could be in for a lift if upcoming earnings releases show strong fourth-quarter loan growth helps to offset weak trading revenue.


MONEY IN THE BANK: OTTAWA LOOKS FOR NEW WAYS TO TAX DORMANT ACCOUNTS

CBC - Dean Beeby (2019-01-13)

Millions of dollars owed to ordinary Canadians sits unclaimed in dormant bank accounts and terminated pension plans — and the federal Department of Finance is looking at fresh ways to tax some of that idle money and to reduce or eliminate any interest paid on it


GLOBAL REAL ESTATE HOT SPOTS HIT HARD BY MARKET SHIFT

G&M - Ian McGugan, Janet McFarland, Paul Waldie, David Ebner (2019-01-12)

In London, home prices in some of the British capital’s toniest neighbourhoods have slid over the past year. In Sydney, residential property values have tumbled 8.9 per cent, and one economist has warned that Australian real estate is headed for its “deepest downturn” in modern history.


AS BEZOS DIVORCE UNFURLS, INVESTORS WONDER — WHAT DOES IT MEAN FOR AMAZON?

Reuters - Reuters (2019-01-11)

The split throws into question how the couple will split their fortune, which includes an approximately 16 per cent ownership stake in Amazon's roughly $811.4 billion US market capitalization. Divorce laws in Washington state, where they live, hold that property acquired during a marriage is generally divided equally between spouses.


LLOYD’S OF LONDON HIT WITH FEDERAL CLASS ACTION RELATING TO "VIRTUALLY WORTHLESS" INSURANCE

Insurance Business - Terry Gancuangco (2019-01-11)

According to the Hawaii-based firm, residents could have qualified for HPIA-sponsored insurance, “but Lloyd’s and its agents deceived them by artificially inflating coverage limits” beyond those provided under non-surplus lines insurance.


ALL PROVINCES SAW RATE INCREASES IN Q4 2018: APPLIED

Canadian Underwriter - Jason Contant (2019-01-11)

Evidence of a hard market in personal lines in Canada was apparent in Applied Systems’ latest quarterly Applied Rating Index, released Tuesday.


HUB BUYS QUEBEC COMMERCIAL BROKERAGE

Canadian Underwriter - Greg Meckbach (2019-01-11)

“Hub has an exceptional construction practice,” Giroux stated in a release.


GOLDMAN SACHS ON COURSE TO LAUNCH CASH MANAGEMENT IN MID-2020

Reuters - Elizabeth Dilts (2019-01-11)

Goldman Sachs Group Inc (GS.N) is considering paying big multinational corporations more for their deposits than other banks as it paves the way for its entry into a mundane but prized business: managing cash.


CHINA TO SET LOWER GDP GROWTH TARGET OF 6-6.5 PERCENT IN 2019 - SOURCES

Reuters - Kevin Yao (2019-01-11)

China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand.


POLOZ STICKS TO HIS GUNS AND TRADERS MULL ODDS OF POLICY ERROR

Bloomberg - Luke Kawa (2019-01-11)

“The Bank of Canada has hiked and will continue to hike into a more pronounced slowdown than the U.S.,” said Frances Donald, head of macroeconomic strategy at Manulife Asset Management. “It’s worth considering playing a policy mistake here in the bond market.”


HERE ARE THE FINANCE FIRMS CUTTING JOBS AMID 2019 MARKET TURMOIL

Bloomberg - Shelly Hagan (2019-01-11)

Asset managers and banks are under pressure as volatility roils global markets and investors pile into passive, low-fee funds. The $3 trillion hedge fund market has been hit hard as performance sank and funds closed last year. One recruiter thinks more shakeout lays ahead.


EQUITABLE BANK CALLS FOR INCREASE TO LIMIT ON COVERED BONDS

G&M - Alexandra Posadzki (2019-01-11)

Equitable Bank is calling on regulators to boost the current limit on covered bonds, arguing that it would level the playing field for smaller banks and make the Canadian mortgage industry more competitive.


AIR CANADA BOOSTS AEROPLAN PURCHASE PRICE – BUT REMAINS THE BUYOUT’S BIG WINNER

G&M - Tim Kiladze (2019-01-11)

Air Canada will pay 10 per cent more than planned to buy the Aeroplan loyalty rewards program and bring it back in-house, boosting the final purchase price to half-a-billion dollars.


FOR EUROPE’S AUTOMAKERS, THE WHEELS ARE COMING OFF

G&M - Eric Reguly (2019-01-11)

The easy times are over for the European automakers. They had groped their way out of the hole created by the 2008 financial crisis and now they’re slipping back into it again as the global auto industry faces its greatest upheaval in decades. The Brexit mess hasn’t helped.


MORE CANADIANS ARE GOING BUST, AND IT COULD GET WORSE

G&M - Michael Babad (2019-01-11)

More Canadians are going bust as they grapple with higher interest rates.


SHAREHOLDERS SUE GOOGLE PARENT COMPANY ALPHABET, ACCUSING IT OF COVERING UP SEXUAL MISCONDUCT CLAIMS

Reuters - Reuters (2019-01-11)

Two shareholder lawsuits filed this week accuse the board of Google parent Alphabet of playing a direct role in covering up sexual misconduct claims against two former executives over the last five years.


BANK OF CANADA PUTS HIGHER INTEREST RATE ON HOLD IN WAKE OF CANADA’S SLOWING ECONOMY

G&M - Barrie McKenna (2019-01-10)

The Bank of Canada has put planned higher interest rates on hold for now in the face of a new, grimmer forecast that shows Canada’s economy is slowing down fast.


MANY FEDERAL RESERVE OFFICIALS URGED PATIENCE ON FUTURE RATE HIKES IN DECEMBER POLICY MEETING

G&M - JASON LANGE (2019-01-10)

A range of Federal Reserve policy-makers said last month they could be patient about future interest rate increases and a few did not support the central bank’s rate increase that month, minutes from their Dec. 18-19 policy meeting showed.


MICHAEL WEKERLE’S DIFFERENCE CAPITAL FINANCIAL GETS WINDFALL FROM TORONTO’S VENA SOLUTIONS

G&M - Sean Silcoff (2019-01-10)

There was a rare bit of good news Wednesday for Michael Wekerle’s Difference Capital Financial Inc.


BIG SIX BANKS BRUSH OFF NEW CAPITAL RULES, SAYING THEY HAVE ‘NO IMPACT’

G&M - James Bradshaw (2019-01-10)

The chief executives of Canada’s largest banks are shrugging off tougher capital requirements introduced by the banking regulator, saying the change will have no impact on plans for acquisitions, dividend hikes or share buybacks.


DANSKE BANK AND FOUR FORMER EXECUTIVES FACE U.S. LAWSUIT OVER SUSPECTED MONEY LAUNDERING

G&M - Jonathan Stempel (2019-01-10)

Danske Bank A/S and four former top executives were sued on Wednesday by a U.S. shareholder that accused Denmark’s largest bank of defrauding investors and inflating its share price by hiding and failing to stop widespread money laundering at its Estonian branch.


BANK OF JAPAN MULLS UNPLEASANT POLICY OPTIONS IF FED PUTS RATE HIKES ON HOLD

G&M - Leika Kihara (2019-01-10)

Worried by prospects of a pause in the U.S. interest rate hike cycle, the Bank of Japan is shifting focus towards a risk that it may be forced to deploy more stimulus this year to stop sharp yen rises from derailing an economic recovery, sources say.


BANK OF CANADA ONCE AGAIN FACES THE DILEMMA OF A TWO-SPEED ECONOMY: DON PITTIS

CBC - Don Pittis (2019-01-10)

"The impact of the decline in oil prices is at the heart of this update," Bank of Canada governor Stephen Poloz said yesterday, as he explained to reporters why he was slowing the pace of interest rate increases, holding the Canadian headline rate at 1.75 per cent.


TERENCE CORCORAN: BLOCKCHAIN’S GROUNDBREAKING, WORLD-SHAKING, LIFE-CHANGING TECHNOLOGY REVOLUTION HAS BEEN CANCELLED

FP - Terence Cocoran (2019-01-10)

In the “cycle of hype,” a non-scientific concept invented by U.S. tech research group Gartner, new technologies travel through phases on their way to market. Before the final productive phase, new ideas begin with an initial “technology trigger.” In a second phase, the idea moves through a period known as the “peak of inflated expectations.” Then, as the technology’s flaws and limits become apparent and experiments and market tests fail to deliver the promised miracles, the idea slides into a phase known as the “trough of disillusionment.”


IT’S NOT EASY BEING A CHINESE BANK

WSJ - Nathaniel Popper (2019-01-10)

Chinese banks need to lend more to private enterprises. Too bad that won’t help their credit profiles.


METLIFE CEO STEVEN KANDARIAN TO RETIRE IN APRIL

WSJ - Leslie Scism (2019-01-10)

MetLife Inc. President and Chief Executive Steven Kandarian is turning over the reins of the nation’s second-biggest life insurer by assets to a top lieutenant, Michel Khalaf, as he sets April 30 for his retirement.


REDEMPTIONS RISE IN CANADA’S MUTUAL FUND INDUSTRY

Insurance Journal - IIJ (2019-01-10)

At the same time, the industry recorded net redemptions of $2.4 billion and year-to-date net sales of $8.0 billion. 


CHUBB VETERAN ED ZACCARIA LOOKS BACK ON 40-YEARS IN THE INSURANCE INDUSTRY

Insurance Business - Bethan Moorcraft (2019-01-10)

After 40-years in the insurance industry, Ed Zaccaria has seen it all. He’s experienced first-hand the advent of insurance technology, the gradual shift towards product specialization, and the re-tuning of customer-centricity and simplicity.


MASTERCARD DITCHES NAME IN LOGO REBRAND

Finextra - Finextra (2019-01-10)

"Reinvention in the digital age calls for modern simplicity," stated Rajamannar. “And with more than 80 percent of people spontaneously recognizing the Mastercard Symbol without the word ‘mastercard,’ we felt ready to take this next step into our brand evolution.”


N26 BECOMES EUROPE'S MOST VALUABLE FINTECH STARTUP

Finextra - Finextra (2019-01-10)

The Berlin-based banking app which is backed by PayPal billionaire Peter Thiel received $300 million from new investors such as Insight Venture Partners, the Singapore sovereign wealth fund GIC and a number of existing investors.


SEARS CHAIRMAN SUBMITS NEW $5-BILLION BID TO SAVE RETAILER FROM LIQUIDATION

G&M - JESSICA DINAPOLI, MIKE SPECTOR AND AISHWARYA VENUGOPAL (2019-01-10)

Sears Holdings Corp. chairman Eddie Lampert submitted a revised takeover bid of more than $5 billion for the company, according to a regulatory filing made on Thursday, significantly increasing the likelihood the U.S. department store will be able to stay in business.


POWELL SAYS FED HAS ROOM TO BE PATIENT AS ECONOMY EVOLVES IN 2019

G&M - HOWARD SCHNEIDER AND JONATHAN SPICER (2019-01-10)

Federal Reserve Chairman Jerome Powell said on Thursday the U.S. central bank has the ability to be patient on policy given inflation is stable, allowing it to assess whether the U.S. economy will slow this year as some in financial markets worry.


BANK OF CANADA’S GLOOMY OUTLOOK SUGGESTS THE DAYS OF THE CONSUMER-DRIVEN ECONOMY ARE GONE

G&M - DAVID PARKINSON (2019-01-10)

The Bank of Canada has long predicted that the Canadian economy would rotate away from the consumer sector as its growth leader. It looks like in 2019, it won’t have much choice – the consumer is about to step aside, whether the new leadership is ready or not.


CENTRAL BANKS PROCEEDING WITH CAUTION ON OWN DIGITAL CURRENCIES

Finextra - Finextra (2019-01-09)

As the debate rages on, a BIS survey of 63 central banks shows that 70% are currently, or soon will be, engaged in CBDC work. Of these, over half are looking at both general purpose and wholesale CBDCs, with a third just focusing on general purpose and 13% just wholesale.


BMO SLICES 1,000 POINTS FROM ITS TORONTO STOCK MARKET FORECAST

G&M - Michael Babad (2019-01-09)

Bank of Montreal’s chief investment strategist has sliced 1,000 points from his 2019 forecast for the Toronto stock market.


VANCOUVER DETACHED REAL ESTATE WIPES OUT ALMOST 2 YEARS OF PRICE GAINS

Better Dwelling - Kaitlin Last (2019-01-09)

The price of a typical Vancouver detached home is dropping. REBGV reported a benchmark price of $1,479,000 in December, down 1.4% from the month before. Prices are now 7.8% compared to the same month last year. In the City, Vancouver East fell to $1,447,300, down 7.2% from last year. Vancouver West saw detached prices fall to $3,135,400, an even more steep decline of 11.8% from last year. The region has officially wiped out over a year worth of gains, falling back to April 2016 levels.


TORONTO DETACHED REAL ESTATE SALES FALL TO 2008 LEVELS, PRICES DOWN 13% FROM PEAK

Better Dwelling - Kaitlin Last (2019-01-09)

Detached prices are still negative across the board, and tapering in the city. TREB’s 0.16% is a smaller annual loss than last month, but still in negative territory. The City of Toronto’s 1.13% is actually a smaller gain than last month. Detached prices across TREB are now down 13.53% from peak, and the City of Toronto is down 10.67%. Both markets are considered to be in a technical correction.


WHY HIGH-WEALTH INVESTMENT ADVISORS SHOULD ADOPT THE U.S.'S RIA MODEL

FP - Martin Pelletier (2019-01-08)

When it comes to wealth management, Canada’s big banks have so far proven to be un-disruptable thanks to their oligopolistic nature.


RISKS ON THE RISE AS CORPORATE DEBT ACTIVITY SLOWS TO END YEAR

FP - Barbara Shecter (2019-01-08)

Low interest rates and ample liquidity, combined with the trend of allocating more capital to dividends for yield-seeking investors, have increased the appetite for credit and driven companies to take on leverage since the Financial Crisis.


MAJOR WALL STREET PLAYERS PLAN EXCHANGE TO CHALLENGE NYSE, NASDAQ

Reuters - Reuters (2019-01-08)

Morgan Stanley, Fidelity Investments, Citadel Securities LLC and a host of other financial companies plan to launch a low-cost bourse that will compete with the New York Stock Exchange and Nasdaq.


KAREN PEETZ TO RETIRE FROM WELLS FARGO BOARD

Reuters - Reuters (2019-01-08)

Wells Fargo & Co (WFC.N) said on Monday board member Karen Peetz has decided not to stand for reelection after roughly two years on the board.


STOCKS STAY STRONG AS EUROPE SHRUGS OFF SAMSUNG WARNING

Reuters - Marc Jones (2019-01-08)

A solid start from Europe kept world stocks at a three-week high on Tuesday after Asia was knocked back by a shock profit warning from tech giant Samsung and a tick-up in borrowing costs.


CANADIAN CRUDE SURGES AS RAIL SHIPMENTS RISE DESPITE SUPPLY CUTS

Bloomberg - Robert Tuttle (2019-01-08)

Heavy Canadian crude surged to the strongest level in more than a year as rail shipments keep rising even as production was curtailed.


RBC, BLACKROCK TEAM UP TO CREATE CANADA’S LARGEST ETF BRAND

G&M - CLARE O’HARA AND TIM KILADZE (2019-01-08)

Royal Bank of Canada and BlackRock Inc. are joining forces to sell exchange-traded funds, forming a rare partnership between Canada’s largest asset manager and the country’s biggest ETF provider.


AIMIA INVESTORS VOTE TO SELL AEROPLAN TO AIR CANADA CONSORTIUM

G&M - Christopher Reynolds (2019-01-08)

Aimia Inc. shareholders voted Tuesday to approve the $450-million sale of its Aeroplan loyalty program to Air Canada, cementing the takeover but leaving questions about Aimia’s future.


‘A DAY OF RECKONING IS COMING FOR JUSTIN TRUDEAU’S LIBERAL GOVERNMENT’: CIBC

G&M - Michael Babad (2019-01-08)

Canada’s Liberal government faces “a day of reckoning,” largely on economic and business issues, one of the country’s major banks believes.


CANADIAN INSOLVENCIES UP 5.2 PER CENT IN NOVEMBER FROM PREVIOUS YEAR: REPORT

G&M - CP (2019-01-08)

Rising interest rates appear to be taking a toll on Canadians’ finances as the total number of insolvencies filed under the Bankruptcy and Insolvency Act increased by 5.2 per cent in November from the prior year.


STATISTICS CANADA REPORTS TRADE DEFICIT HITS $2.1 BILLION IN NOVEMBER

CBC - CP (2019-01-08)

Canada's merchandise trade deficit more than doubled in November as exports fell led by a drop in crude oil prices.


CANADA'S BIG BANK CEOS FIND SOLACE IN STRONG ECONOMIC FUNDAMENTALS AMID MARKET VOLATILITY

FP - Geoff Zochodne (2019-01-08)

“I think the markets have taken a pause now and have come back and seen that things are pretty solid,” Royal Bank of Canada president and chief executive officer Dave McKay said at his company’s Canadian bank CEO conference in Toronto.


BMO, CIBC PROVIDE $80-MILLION LOAN TO CANOPY GROWTH-AFFILIATED POT COMPANY PHARMHOUSE

FP - Vanmala Subramaniam (2019-01-08)

Two of Canada’s largest banks — Bank of Montreal and Canadian Imperial Bank of Commerce — along with wholesale bank Concentra are dishing out an $80-million loan to cannabis company PharmHouse Inc., a joint venture part-owned by Canopy Rivers Inc., the investment arm of Canopy Growth Corp.


GIVING BROKERS A LEG UP AMID STRESSED MARGINS AND A TRANSACTIONAL BUSINESS

Insurance Business - Alicja Grzadkowska (2019-01-08)

With brain drain impacting the insurance industry as long-time leaders retire, changing consumer expectations about how they buy and interact with their insurance, and emerging distribution models providing a challenge to the role of brokers, many Canadian insurance companies are turning their attention to the future of the broker and their ability to provide a high standard of service to their clientele.


INSURER BRIT SECURES INVESTMENT IN SUTTON SPECIAL RISK

Insurance Business - Paul Lucas (2019-01-08)

Sutton is a fast-growing MGU that has spent more than 40 years as a Lloyd’s coverholder. It specializes in the accident and health business and has been a trading partner for Brit for more than 16 years. Now the latter is hoping to capitalize on its strong presence in both Canada and the United States as it continues its international expansion through niche specialty businesses with what it deems “excellent distribution and underwriting capabilities.”


GRAIN FARMERS IN NEED OF INSURANCE COVERAGE FOR MOULD INFESTATION

Insurance Business - Lyle Adriano (2019-01-08)

Grain farmers in the province of Ontario are finding themselves in a pinch, since there are, apparently, no insurance programs that can cover for a costly mould infestation-driven shortfall.


BROKERLINK MAKES DOUBLE ACQUISITION

Insurance Business - Bethan Moorcraft (2019-01-08)

Challenge was established in 2007 and is headquartered in Edmonton, Alberta. It offers a variety of group, home, auto, commercial and financial services products, and will help BrokerLink to grow its personal, commercial and group insurance presence in the province.


NAVACORD ACQUIRES CONSTRUCTION-RELATED BOOK OF BUSINESS FROM BMS CANADA

Insurance Business - Lyle Adriano (2019-01-08)

National insurance brokerage Navacord has acquired a book of business and team of veterans from Vancouver-based construction insurance solutions provider BMS Canada, effective December 31, 2018.


EVEREST RE GROUP LOOKING FOR NEW BOSS

Insurance Business - Terry Gancuangco (2019-01-08)

The move comes after president and CEO Dominic J. Addesso informed the board that he is retiring at the end of his contract term on December 31, 2019. The Bermuda-headquartered firm announced that a review of both internal and external candidates will be conducted as part of the succession planning process. 


THESE TWO PROVINCES NOW HAVE STORM SURGE AND OVERLAND FLOOD COVERAGE

Canadian Underwriter - Jason Contant (2019-01-08)

Homeowners in Quebec now have storm surge coverage available, while homeowners in Manitoba are covered for overland flood damage, The Co-operatorssaid Monday.


WHY CANADIAN INSURERS ARE RETICENT TO ENTER THE CANNABIS SPACE

Canadian Underwriter - Jason Contant (2019-01-08)

“When an insurance cycle goes a little bit harder, when insurers are trying to put their houses in order, it makes underwriters cautious even about the books they know, never mind the exposures they don’t,” Andy Holmes, chief underwriting officer with CFC Underwriting, said recently. “When you’re already looking at what you got on the books, you’re not necessarily looking at the next new economy opportunity.”


THE FAILURE OF MARYPOPPINOMICS: DON PITTIS

G&M - Don Pittis (2019-01-07)

It's just shocking that a popular children's movie should promote such risky behaviour.


UK FINANCIAL SERVICES SECTOR SHIFTS £800BN IN ASSETS TO EUROPE — EY

FT - Madison Derbyshire (2019-01-07)

Financial services companies have moved almost £800bn of assets to Europe since the EU referendum, according to a new report.


WILL FINTECHS SINK OR SWIM WHEN FLOATS ARE REGULATED?

FT - Izabella Kimenza (2019-01-07)

Is fintech truly innovative? Or simply the revival of tried and tested (if not failed) practices, without the constraints of the regulation that has developed along with these practices?


EU’S WILFUL BLINDNESS TO SOVEREIGN RISK ADDS TO EUROZONE DANGER

FT - Patrick Jenkins (2019-01-07)

How risky is it to lend your money to the Greek government? Or to Italy? Look at the yield on the countries’ sovereign bonds and you will get a clear answer:


CANADIAN AUTO SALES ARE ‘WELL AND TRULY WINDED’

G&M - Michael Babad (2019-01-07)

Still reeling from General Motors Co.'s decision to shutter its key Oshawa, Ont., operation, Canada's auto industry has now suffered the second of a "heavy one-two punch" on sales.


EXPECTING HIGHER RATES IN 2019? DON'T BET ON IT JUST YET

CBC - Pete Evans (2019-01-07)

Ever since the Bank of Canada ratcheted its benchmark interest rate up in the summer of 2017, economists, policy-makers, central bankers (and, full disclosure, even yours truly) have been warning Canadians to expect more hikes to come as the era of virtually free money seemed to be coming to an end.


PAY DOWN DEBT IS BIGGEST CONCERN OF CANADIANS, SAYS CIBC POLL

Insurance Journal - IIJ (2019-01-07)

“Debt weighs heavily on Canadians, so it's no surprise that Canadians continue to put debt concerns at the top of their list of priorities each year,” says Jamie Golombek, managing director, CIBC Financial Planning and Advice.


SUN LIFE ANNOUNCES ACQUISITION OF MAJORITY STAKE IN BENTALL GREENOAK

Insurance Journal - IIJ (2019-01-07)

Sun Life will buy a majority stake in the combined Bentall Kennedy and GreenOak entity that will be named Bentall GreenOak and be part of Sun Life Investment Management. The transaction is expected to close in the first half of 2019, subject to receipt of regulatory approvals and satisfaction of customary closing conditions.


HOW AN INVESTMENT FROM GOOGLE WILL ADVANCE BROKER MANAGEMENT SYSTEMS

Insurance Business - Alicja Grzadkowska (2019-01-07)

The majority of brokers (82% of those surveyed) believe that the availability of automated insurer connectivity is highly important when they’re considering which insurers they want to do business with, according to Applied Systems’ latest report, “2018 Digital Technology Adoption Trends in Digital Distribution and Automated Servicing.” On the other hand, 88% of insurers find that providing automated connectivity to their brokerage partners is likewise very important, demonstrating the increased demand all around for connectivity, which in turn relies on technology to help insurance partners expand those critical relationships and seek new markets, according to Applied.


NL REDUCES TAX ON AUTO INSURANCE PREMIUMS BY 2%

Insurance Business - Duffie Osental (2019-01-07)

“The provincial government’s carbon pricing program maintains competitiveness for taxation and trade, minimizes the impact on consumers and vulnerable groups and recognizes the considerable cost the province is already paying to decarbonize electricity while delivering meaningful reductions in greenhouse gas emissions,” said the Department of Finance in a statement.


THE CO-OPERATORS SNAPS UP QUEBEC-BASED ASSURANCES MADELEIN

Insurance Business - Lyle Adriano (2019-01-07)

“This acquisition further strengthens our distribution system and the co-operative presence in Quebec,” commented The Co-operators president and CEO Rob Wesseling. “With our continued growth in the province, we are able to deepen our connection to our Quebec clients helping us better understand their unique needs and help them accomplish their financial goals.”


FLOOD WATCHES IN BRITISH COLUMBIA RESULT FROM HEAVY RAIN

Canadian Underwriter - CP (2019-01-07)

Environment Canada says the two-day storm dropped as much as 100 millimetres of rain on Port Alberni and parts of eastern Vancouver Island, equivalent to an entire month of rainfall, while more than 50 millimetres fell Thursday at Vancouver International Airport.


2019 EXECUTIVE OUTLOOK | COLM HOLMES, AVIVA CANADA

Canadian Underwriter - CU (2019-01-07)

In my view, the single most important change the industry must make in 2019 is to be the champion for Canadian drivers, by pushing for reform of the auto insurance regulatory system. Specifically, that reform should allow for innovation, competition and better consumer choice, none of which exists today.


SLOWING GLOBAL ECONOMY, FALLING STOCK MARKETS PUT DAMPER ON PLANS TO RAISE INTEREST RATES IN CANADA, U.S.

G&M - Barrie McKenna (2019-01-07)

Central bankers’ plans to steadily increase interest rates this year have been upended by the slowing global economy and falling stock markets.


BMO LAUNCHING NEW FINANCIAL-CRIMES UNIT TO COMBAT FRAUD AND CYBERTHREATS

G&M - James Bradshaw (2019-01-07)

Bank of Montreal is creating a new financial-crimes unit to combat fraud and cyberthreats and has hired a former U.S. security official to be its leader.


RBC DEVOTED TO SLOW-BUT-STEADY APPROACH TO BECOMING INTERNATIONAL POWERHOUSE IN INVESTMENT BANKING

G&M - Andrew Willis (2019-01-07)

Doug McGregor contends that he knows exactly what it would take to quickly vault Royal Bank of Canada’s capital markets business into the very top ranks of global investment dealers.


SMALLER CANADIAN BANKS MAY SOON BE ABLE TO TAP RAPIDLY GROWING COVERED BONDS MARKET

G&M - Alexandra Posadzki (2019-01-07)

Raising the limit for covered bonds could spur smaller Canadian banks to establish such programs as the uninsured-mortgage market grows.


CANADIAN DOLLAR HITS ONE-MONTH HIGH ON BETS BANK OF CANADA WILL KEEP NEUTRAL TARGET

G&M - Fergal Smith (2019-01-07)

The Canadian dollar strengthened to a one-month high against its broadly weaker U.S. counterpart on Monday, as oil prices climbed and some investors bet the Bank of Canada will stick this week to its plan to raise interest rates to a neutral range.


WORLD BANK PRESIDENT JIM YONG KIM ABRUPTLY RESIGNS

G&M - G&M (2019-01-07)

World Bank Group president Jim Yong Kim unexpectedly resigned on Monday, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources.


MORE ALBERTANS FILE FOR BANKRUPTCY AS OIL-AND-GAS SECTOR STRUGGLES, EXPERT SAYS

CBC - CBC (2019-01-07)

In the past year, nearly 11,000 more Albertans filed either a consumer proposal or bankruptcy, up 8.4 per cent over the year before, according to new figures from the federal Office of the Superintendent of Bankruptcy.


News feed

ECONOMISTS RECONSIDER HOW MUCH GOVERNMENTS CAN BORROW

Economist - Economist (2019-01-20)

Such figures might once have sent the country’s deficit scolds into conniptions. But scolds are in short supply, at least within the halls of Congress. Republicans were the architects of President Donald Trump’s budget-busting tax plan. Some Democrats are less content than ever to tie their hands with the fiscal rules that Republicans routinely flout. Early this year progressive Democrats urged Nancy Pelosi, the speaker of the House of Representatives, to abandon “paygo” rules, which require that new spending be paid for with matching tax increases or offsetting spending cuts.


INTERACTIVE SPHERES OF INFLUENCE ON DAVOS

Reuters - Reuters (2019-01-20)

The World Economic Forum in Davos, Switzerland hosts just over 3,000 DELEGATES representing 114 COUNTRIES from Jan. 22 to Jan. 25. But with delegates from four countries comprising 50 percent of the total, a handful of nations will wield outsize influence at the elite gathering of world leaders and chief executives. 


FOR EMERGING MARKETS, A MORE FEARFUL FED IS A LESS FRIGHTFUL ONE

Economist - Economist (2019-01-14)

Spare a thought for emerging markets. When America’s economy falters, they often share the pain, because America is an indispensable market for their goods. But when America’s economy prospers, they can also suffer, because the Federal Reserve will raise interest rates, lessening demand for emerging-market assets.


TERENCE CORCORAN: BLOCKCHAIN’S GROUNDBREAKING, WORLD-SHAKING, LIFE-CHANGING TECHNOLOGY REVOLUTION HAS BEEN CANCELLED

FP - Terence Cocoran (2019-01-10)

In the “cycle of hype,” a non-scientific concept invented by U.S. tech research group Gartner, new technologies travel through phases on their way to market. Before the final productive phase, new ideas begin with an initial “technology trigger.” In a second phase, the idea moves through a period known as the “peak of inflated expectations.” Then, as the technology’s flaws and limits become apparent and experiments and market tests fail to deliver the promised miracles, the idea slides into a phase known as the “trough of disillusionment.”


MASTERCARD DITCHES NAME IN LOGO REBRAND

Finextra - Finextra (2019-01-10)

"Reinvention in the digital age calls for modern simplicity," stated Rajamannar. “And with more than 80 percent of people spontaneously recognizing the Mastercard Symbol without the word ‘mastercard,’ we felt ready to take this next step into our brand evolution.”


WORLD BANK PRESIDENT JIM YONG KIM ABRUPTLY RESIGNS

G&M - G&M (2019-01-07)

World Bank Group president Jim Yong Kim unexpectedly resigned on Monday, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources.


FSIM briefings and developments reports


Guests have access to limited data set. Free trial users have data access but this message displayed until subscription paid.
Displayed data is for demo purposes. To login or subscribe for full access, click here.

Select Category Enter a Search Term Select Date  

MOST MERCHANTS78%EXPERIENCE FEWER CHARGEBACKS UNDER NEW VISA RULES, SAYS ONE SURVEY

Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program.


WHY CANADAS LARGEST MUTUAL INSURER IS NOT DEMUTUALIZING

“Everybody says, ‘Because of what Economical is doing, are you going to demutualize?’ No,” Carol Jardine, president of the Canadian property and casualty operations of Wawanesa Mutual Insurance Company, said Thursday during a luncheon hosted by the Insurance Brokers of Toronto Region (IBTR).


HOW SUBROGATED CLAIM LEADS TO LANDMARK WIN FOR GUARANTEE

A-1 Asphalt Maintenance Ltd. went bankrupt in 2014. At that time it was a contractor on four road-paving projects in Ontario. As a result of A-1 Asphalt’s bankruptcy, the Guarantee Company paid out nearly $1.9 million on surety bond claims.



Analytics

Guests have access to limited data set. Free trial users have data access but this message displayed until subscription paid.

Displayed data is for demo purposes. To login or subscribe for full access, click here.

All amounts in millions of dollars
Choose criteria Choose chart type Choose Fi or Fis Choose time frame