Cameron's Feed
Jul 30, 2014

Intact Financial 2nd-qtr profit jumps; growth in Brazil eyed

TORONTO, July 30 (Reuters) – Intact Financial Corp,
Canada’s largest property and casualty insurer, said on
Wednesday its profits doubled in the second quarter, adding that
the insurer had invested in a small insurance brokerage in
Brazil.

Intact said the sharp profit growth was due to extreme
flooding in Alberta last year, which had squeezed profits in the
year-earlier quarter.

Jul 22, 2014

Toronto film fest unveils premieres as scheduling criteria tightens

TORONTO (Reuters) – Noah Baumbach’s “While We’re Young” and Ed Zwick’s “Pawn Sacrifice” will be among the world premieres at this year’s Toronto International Film Festival, one of the top movie showcases and a favored platform to unveil Oscar contenders.

The festival on Tuesday announced about 60 titles, including many of the high-profile gala presentations that will unspool at the 39th version of the Sept. 4-14 event. Departing with recent practice, festival organizers did not announce the opening film, and said that would be determined closer to the event.

Jun 30, 2014

Toronto Mayor Ford exits rehab, says was in ‘complete denial’

TORONTO (Reuters) – Toronto Mayor Rob Ford said on Monday he had been in “complete denial” about his drinking and drug use before entering a rehabilitation clinic two months ago, and admitted that his struggle against substance abuse will never end.

Ford made comments as he returned to city hall and rejoined a re-election campaign where he is running in second place, according to a recent poll. He took leave on April 30, saying at the time he needed to deal with an alcohol problem.

Jun 16, 2014

Toronto Mayor Rob Ford’s saga to get the musical treatment

TORONTO, June 16 (Reuters) – In anyone’s missed Toronto
Mayor Rob Ford’s scandalous confessions, expletive-laden videos
and Jimmy Kimmel appearances over the past year, a new
theatrical production is bringing his honor’s story to the
musical stage.

“Rob Ford the Musical: Birth of a Ford Nation” held
auditions in Toronto on Monday for a show expected to open in
mid-September, just ahead of October’s mayoral election. Ford,
who has entered rehab for substance abuse, is currently taking a
break from his reelection campaign.

Jun 12, 2014

Panel backs Canada evaluation process for jet fighter replacement

OTTAWA, June 12 (Reuters) – Four independent experts
endorsed on Thursday the Canadian military’s evaluation of
options to replace its aging fleet of fighter jets, setting the
stage for the government to decide whether or not to go ahead
with previous plans to buy F-35 Joint Strike Fighters.

Ottawa scrapped its plan to buy 65 Lockheed Martin Corp
F-35s in 2012, after an official watchdog said officials
had grossly downplayed the cost of maintaining and operating the
jets.

Jun 10, 2014

Ontario election race a toss-up ahead of Thursday vote

TORONTO, June 10 (Reuters) – Two days before election day in
the Canadian province of Ontario and polls show a dead heat
between a left-leaning Liberal government that many feel has
overstayed its welcome and an austerity-minded Conservative
opposition that has failed to capture the imagination of voters.

Voters will decide on Thursday whether to return Premier
Kathleen Wynne’s Liberals to power in Canada’s most populous
province or hand the reins to Tim Hudak’s Conservatives. The
polls show they are finding it a grim choice.

Jun 5, 2014

Canada manhunt under way after three police officers shot dead

TORONTO (Reuters) – Three police officers were shot dead in the Canadian city of Moncton and two more were wounded as they conducted a manhunt for a man carrying a rifle and wearing camouflage clothes, Canadian police said on Wednesday

Police said they were searching for Justin Bourque, 24, and urged residents to stay inside and locked their doors.

May 29, 2014

CIBC profit drops less than expected as it eyes bigger deals

TORONTO, May 29 (Reuters) – Quarterly profit at Canadian
Imperial Bank of Commerce fell by nearly two-thirds due
to a charge taken by its Caribbean unit, the bank said on
Thursday, but the result topped analysts’ estimates and CIBC’s
chief executive signaled a willingness to pay more for
acquisitions.

CEO Gerry McCaughey has targeted wealth management as a
business he’d like to expand, and said last year he’d entertain
deals in the billion-dollar range.

May 27, 2014

Scotiabank profit rises 14 percent, eyes acquisition pipeline

TORONTO (Reuters) – Bank of Nova Scotia said on Tuesday its second-quarter profit rose 14 percent, beating estimates, and the lender’s CEO suggested its strong capital levels will be directed toward acquisitions rather than large share buybacks.

The bank’s stock surged to an all-time high on the results.

Brian Porter, who has emphasized organic growth since taking over as chief executive officer last year, said the bank was eyeing expansion in credit cards, as well as wealth management and retail banking growth in Peru, Colombia, Mexico and Chile.

May 22, 2014

RBC, TD shares hit record highs as results top estimates

TORONTO, May 22 (Reuters) – Royal Bank of Canada and
Toronto-Dominion Bank topped second-quarter estimates on
the back of low loan-loss provisions and stronger retail lending
and wealth management income, spurring shares of Canada’s top
two banks to all-time highs on Thursday.

Profit at RBC and TD’s core domestic retail banks rose 7
percent and 13 percent, respectively, in spite of slowing growth
in mortgage lending over the past few years.