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Feb 27, 2014

TD, CIBC post profit gains and hike dividends

TORONTO, Feb 27 (Reuters) – Toronto-Dominion Bank
and Canadian Imperial Bank of Commerce both posted
better-than-expected quarterly profits and raised their
dividends on Thursday, benefiting from recent acquisitions and
strong wholesale banking income.

The results, which pushed shares of both lenders higher,
built on generally stronger-than-expected results from rivals
Royal Bank of Canada, Bank of Montreal and
National Bank of Canada earlier this week.

Feb 27, 2014

TD Bank Q1 profit rises on wholesale unit; boosts dividend

TORONTO, Feb 27 (Reuters) – Toronto-Dominion Bank
said on Thursday its first-quarter profit rose 15 percent on the
back of stronger wholesale banking and U.S. retail banking
income, and the lender boosted its dividend by a robust 9

However, the bank’s chief financial officer told Reuters the
dividend increase might be the only one for TD in 2014, which
would break its past cycle of one increase every second quarter.

Feb 26, 2014

Royal Bank of Canada raises dividend as profit edges higher

TORONTO, Feb 26 (Reuters) – Royal Bank of Canada
reported a higher quarterly profit on Wednesday and raised its
dividend by 6 percent after surging capital markets income more
than offset charges from a restructuring of Caribbean

Canada’s largest bank earned C$2.09 billion ($1.89 billion),
or C$1.38 a share, in the first quarter ended Jan. 31, up from
C$2.05 billion, or C$1.34 a share, a year earlier.

Feb 25, 2014

BMO profit tops estimates on wealth, domestic loans

TORONTO, Feb 25 (Reuters) – Bank of Montreal
reported higher-than-expected quarterly earnings on Tuesday
after a strong performance in its wealth management business and
growth in domestic banking profits in spite of worries about a
slowing housing market.

Shares of Canada’s No. 4 bank rose modestly, outperforming
most of its peers as investors looked past year-on-year profit
declines in BMO’s closely watched U.S. retail bank.

Feb 21, 2014

Canadians exhale as country tops U.S. in men’s hockey semifinal

TORONTO (Reuters) – There may not have been an Olympic medal on the line, but Canadians celebrated Friday’s semifinal hockey win versus the United States as if the weight of the world were off their backs.

One day after the Canadian women’s hockey team stormed back from a 2-0 deficit versus its U.S. rival to win Olympic gold, Canada beat the men’s team 1-0 in front of a packed Bolshoy Ice Dome, shutting out a team that had scored 20 goals in its first four games in the Olympic tournament.

Feb 13, 2014

Wealth management drives Canadian insurance profits

TORONTO, Feb 13 (Reuters) – The profits of Canadian life
insurers grew in the fourth quarter, as higher returns from
growing wealth management units offset uneven insurance sales,
highlighting a shift in business as the companies cut risk in
the wake of the financial crisis.

Manulife Financial Corp, the country’s largest
insurer, posted a 20 percent rise in net profit for the fourth
quarter on Thursday, while No. 3 player Sun Life Financial Inc
said its profit from continuing operations more than
doubled to C$571 million ($519.78 million).

Feb 5, 2014

Canada ice storm slams Intact Financial profit

TORONTO, Feb 5 (Reuters) – Intact Financial Corp,
Canada’s largest property and casualty insurer, reported a
larger-than-expected drop in fourth-quarter profit as a winter
ice storm hurt underwriting results.

Shares of Intact, which also raised its quarterly dividend
by 9 percent, fell 1.1 percent on the results.

Jan 30, 2014

In double legal trouble, Bieber tests positive for pot, meds

TORONTO/MIAMI BEACH (Reuters) – Teen pop star Justin Bieber, facing charges in the United States and Canada, had pot and anti-anxiety medication in his system when arrested in Florida last week but told police his mother “takes care” of his prescriptions, according to official reports released Thursday.

Bieber was charged late on Wednesday with assaulting a limousine driver in Toronto and the Toronto Star newspaper reported Thursday that the driver in the alleged assault in December quit his job “in shock” following the incident.

Jan 30, 2014

Canadian limo driver allegedly assaulted by Bieber quit his job: report

TORONTO (Reuters) – The limousine driver alleged to have been assaulted by teen popstar Justin Bieber quit his job following the December incident, the manager of the limo company told the Toronto Star in an article published on Thursday.

The driver is “in shock. Something like this does not happen in Toronto,” Tony Albert, manager of Park Lane Livery limousines, told the newspaper. He said the driver was middle-aged and new to the position, but he declined to disclose his identity on the advice of legal counsel.

Jan 23, 2014

Toronto Mayor Ford stuck in elevator as lunch audience waits

TORONTO (Reuters) – Toronto Mayor Rob Ford lived up his reputation for surprises on Thursday when he got stuck in a hotel elevator for nearly an hour while a room full of the city’s business elite waited impatiently for him to deliver a speech.

The mishap, which delayed his arrival at an C$89-a-plate ($80) business lunch, comes just two days after a video emerged showing Ford ranting, putting on a Jamaican accent, and using profanities to describe Toronto’s police chief. On Tuesday, Ford admitted he had consumed alcohol when the video was shot on Monday night, despite his pledge late last year to quit drinking.