Profit outlook 'subdued' as demand for financial services fades amid jump in losses from bad loans
The year 2008 was the banking world's annus horribilis – when the credit crunch toppled banks, torpedoed stocks and triggered the worst financial crisis since the Great Depression.
Gobsmacke
Jim Flaherty, the Minister of Finance, will on Monday set the stage for a new wave of government intervention to bolster the financial system when he meets with chief executives of the country's largest banks.
The Minister will use the gathering to discuss a range of fresh measures that are under
Getting banks to match the demand for credit in a recession doesn't make much sense. The Bank of Canada has to jolt the economy into recovery or we will fall even further
September's worldwide credit crunch saw financial institutions become unwilling to lend to each other, on almost any terms, let
TORONTO AND SASKATOON — Finance Minister Jim Flaherty delivered the banks a deadline of just a few weeks to get more loans out into the sagging economy, prompting the banks to counter that they're already doing enough and added lending could prove irresponsible.
With the country entering a
A funny thing happened to some of the world's most powerful investors as they stared into the market abyss. They stepped back. And maybe that's a sign that the rest of us can soon step up.
Yesterday, Merrill Lynch released its monthly survey of global money managers, strategists and economists, a
The U.S. Federal Reserve uses one of the last weapons in its arsenal to battle the economic downturn, cutting the interest rate to a target of zero to 0.25 per cent, and pledging to pump virtually limitless cash into the financial system
WASHINGTON -- The age of zero interest rates is here.
In the
LONDON/TOKYO — The Federal Reserve's radical step of dropping interest rates to near zero prompted cuts elsewhere on Wednesday and threw the focus forward both to a Bank of Japan meeting and other available policy measures.
Hong Kong followed the Fed with a full point rate cut to a record l
Profit outlook 'subdued' as demand for financial services fades amid jump in losses from bad loans
The year 2008 was the banking world's annus horribilis – when the credit crunch toppled banks, torpedoed stocks and triggered the worst financial crisis since the Great Depression.
Gobsmacke
Jim Flaherty, the Minister of Finance, will on Monday set the stage for a new wave of government intervention to bolster the financial system when he meets with chief executives of the country's largest banks.
The Minister will use the gathering to discuss a range of fresh measures that are under
Getting banks to match the demand for credit in a recession doesn't make much sense. The Bank of Canada has to jolt the economy into recovery or we will fall even further
September's worldwide credit crunch saw financial institutions become unwilling to lend to each other, on almost any terms, let
TORONTO AND SASKATOON — Finance Minister Jim Flaherty delivered the banks a deadline of just a few weeks to get more loans out into the sagging economy, prompting the banks to counter that they're already doing enough and added lending could prove irresponsible.
With the country entering a
A funny thing happened to some of the world's most powerful investors as they stared into the market abyss. They stepped back. And maybe that's a sign that the rest of us can soon step up.
Yesterday, Merrill Lynch released its monthly survey of global money managers, strategists and economists, a
The U.S. Federal Reserve uses one of the last weapons in its arsenal to battle the economic downturn, cutting the interest rate to a target of zero to 0.25 per cent, and pledging to pump virtually limitless cash into the financial system
WASHINGTON -- The age of zero interest rates is here.
In the
LONDON/TOKYO — The Federal Reserve's radical step of dropping interest rates to near zero prompted cuts elsewhere on Wednesday and threw the focus forward both to a Bank of Japan meeting and other available policy measures.
Hong Kong followed the Fed with a full point rate cut to a record l
MONTREAL — Laurentian Bank of Canada predicts economic growth of just 0.5 per cent in Canada next year.
The Montreal-based bank released its economic outlook on Tuesday, saying the Canadian economy will be hampered by both the global economic slowdown and the recession in the U.S.
The bank
SAINT JOHN, N.B. — Finance Minister Jim Flaherty says panicking in the face of the global economic crisis would be “devastating” for Canada.
In a speech Friday to the Saint John Board of Trade, Mr. Flaherty said the depth of the recession can be seen in the United States.
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