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Jun 10, 2013

Canadian May housing starts suggest boost for economy

TORONTO, June 10 (Reuters) – Canadian housing starts jumped
much more than expected in May from April, the Canada Mortgage
and Housing Corp said on Monday, in the latest sign that the
broader economy is gaining momentum in the second quarter.

The seasonally adjusted annualized rate of housing starts
was 200,178 units in May, an increase from 175,922 in April. The
April figure was revised upward.

Jun 5, 2013

Fed poised to evaluate bond buys, ‘fine tune’ tactics: Fisher

TORONTO (Reuters) – The Federal Reserve is poised to evaluate and potentially make changes to its massive monetary stimulus, a top Fed official who is critical of the Fed’s bond-buying program said on Tuesday.

To counter the financial crisis, the Fed dropped short-term interest rates to zero in late 2008 and has since bought more than $2.5 trillion in bonds to bolster what has been an anemic economic recovery. Financial markets have been increasingly on edge on expectations that the Fed is ready to start scrolling back on its stimulus.

Apr 8, 2013

Canada to probe report RBC outsourcing work to iGate

TORONTO (Reuters) – Canada is investigating a report that its largest bank is using temporary foreign workers hired by outsourcing company iGate,which has most of its operations in India, to effectively replace existing staff, a situation the government said it would not accept.

A Conservative government minister revealed the probe on Saturday after a report from the Canadian Broadcasting Corporation. The CBC story said Royal Bank of Canada (RY.TO: Quote, Profile, Research) was planning to eliminate about 50 employees in its investor services division in Toronto and have the work done by outsourcing company iGate Corp (IGTE.O: Quote, Profile, Research).

Apr 8, 2013

Canada to probe report that RBC outsourcing work

TORONTO (Reuters) – Canada is investigating a report that its largest bank is using temporary foreign workers hired by an outsourcing company to effectively replace existing staff, a situation the government said it would not accept.

A Conservative government minister revealed the probe on Saturday after a report from the Canadian Broadcasting Corporation. The CBC story said Royal Bank of Canada (RY.TO: Quote, Profile, Research, Stock Buzz) was planning to eliminate about 50 employees in its investor services division in Toronto and have the work done by outsourcing company iGate Corp (IGTE.O: Quote, Profile, Research, Stock Buzz).

Apr 7, 2013

Canada to probe report on RBC’s use of iGate workers

TORONTO, April 7 (Reuters) – The Canadian government is
investigating a report that says the country’s largest bank will
use temporary foreign workers hired by an outsourcing company to
effectively replace existing staff, a situation the government
said would be unacceptable.

A weekend report from the Canadian Broadcasting Corporation
said RBC was planning to eliminate about 50 employees in its
investor services division in Toronto and have the work done by
outsourcing company iGate Corp.

Nov 28, 2012

Evans: Fed should keep rates low until unemployment hits 6.5 percent

TORONTO (Reuters) – One of the U.S. central bank’s most outspoken policy doves on Tuesday called for the Federal Reserve to unleash even more monetary stimulus, saying interest rates should stay near zero until the jobless rate falls to at least 6.5 percent.

Such a policy would carry “only minimal inflation risks,” Charles Evans, president of the Chicago Federal Reserve Bank, said in remarks prepared for delivery to the C.D. Howe Institute in Toronto.

Nov 27, 2012

Analysis: Carney track record hints at Bank of England path

TORONTO (Reuters) – Britain can expect its next central bank chief to be tough with its banks while being more nimble on monetary policy than his recent hawkish talk might suggest.

Canadian central bank chief Mark Carney, named on Monday as the next governor of the Bank of England, gained a reputation on the global stage by challenging some of the world’s most powerful financial executives to make their banks less risky, even if it left them less profitable.

Nov 27, 2012

Analysis – Carney track record holds hints of Bank of England path

TORONTO (Reuters) – Britain can expect its next central bank chief to be tough with its banks while being more nimble on monetary policy than his recent hawkish talk might suggest.

Canadian central bank chief Mark Carney, named on Monday as the next governor of the Bank of England, gained a reputation on the global stage by challenging some of the world’s most powerful financial executives to make their banks less risky, even if it left them less profitable.

Nov 27, 2012

Carney track record holds hints of Bank of England path

TORONTO, Nov 27 (Reuters) – Britain can expect its next
central bank chief to be tough with its banks while being more
nimble on monetary policy than his recent hawkish talk might
suggest.

Canadian central bank chief Mark Carney, named on Monday as
the next governor of the Bank of England, gained
a reputation on the global stage by challenging some of the
world’s most powerful financial executives to make their banks
less risky, even if it left them less profitable.

Oct 28, 2012

7.7 magnitude quake hits Canada’s British Columbia

By Jeffrey Hodgson

(Reuters) – A powerful earthquake with a magnitude of 7.7 hit Canada’s Pacific coast province of British Columbia late Saturday, setting off a small tsunami, but there were no immediate reports of damage, officials said.

The U.S. Geological Survey said an earthquake with a 7.7 magnitude hit the province, centered 123 miles south-southwest of Prince Rupert at a depth of 6.2 miles, the USGS said.

    • About Jeffrey

      "I am based in Toronto and lead a five-person team covering Canadian financial markets, the economy and central bank policy. I joined Reuters in 1996, starting in Toronto and later moving to London and Hong Kong. In that time I've covered stock, bond and currency markets, banking, fund management, the technology, media and telecom sectors, as well as general, political and entertainment news."
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