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Fogo Island has been without a bank since August, and residents are pushing for another. (Patrick Morell/CBC) Fogo Island has been without a bank since August and residents are clamouring for a new financial institution to open so they can avoid a ferry ride and a 130-kilometre drive to Gander …
Read More »Recession or a coming financial crisis? Economists say the difference is vast
Interest rates are creeping higher, and the word “recession” is on everyone’s lips. But so far, only a few financial commentators are warning of something much worse that could abruptly change the rules of the game: The threat of a financial crisis. On Wednesday, the Bank of Canada is preparing to announce what’s expected …
Read More »Canadians are turning to credit cards for financial stress relief — and debt is on the rise
As high inflation rates drive up the cost of essentials, consumers are putting purchases small and large on their credit cards to alleviate some immediate financial pressure. A Tuesday report by credit bureau Equifax Canada shows the practice is driving Canadians into debt as balances begin to outpace the ability …
Read More »N.S. mass shooter had a history of financial ‘misdealing,’ according to new documents
The financial history of the gunman who killed 22 people in Nova Scotia in 2020 is dotted with red flags, but few were passed on or picked up by authorities until after his rampage, according to new documents tabled as part of the inquiry looking into the tragedy. The latest …
Read More »P.E.I. offers more financial bonuses for new doctors
The Prince Edward Island government is now offering new doctors bigger bonuses and a shorter service commitment when they sign up to work in the province, in an effort to recruit more than two dozen doctors. Incentives are being offered for family physicians and some specialists who take jobs anywhere in P.E.I., whereas …
Read More »Newest homebuyers could pay the price for Canada’s financial stability
As in previous years, reading the Bank of Canada’s annual Financial System Review can be enough to send your pulse racing, and not in a good way. On the bright side, this time around, those most likely to suffer from the bank’s warnings will be young enough to withstand the health effects …
Read More »Canada Soccer boots golden financial opportunity with failed matches
Up until a month ago, everything seemed to be going right for Canada Soccer. The national women’s squad is the defending Olympic champion, the men’s team had clinched its first World Cup appearance since 1986 and the country was preparing to be co-host of the men’s World Cup in 2026. …
Read More »New York-based Extend, which helps financial institutions offer virtual cards, raises a $40M Series B led by March Capital (Mary Ann Azevedo/TechCrunch)
Mary Ann Azevedo / TechCrunch: New York-based Extend, which helps financial institutions offer virtual cards, raises a $40M Series B led by March Capital — We’ve written a lot about fintechs that aim to help other fintechs and traditional banks launch products and services. — But it feels like we …
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