TD, CIBC continue strong performance by Canada's banks

* CRO says income checks have been tightened up* TD adjusted EPS C$1.27 vs average C$1.21 forecast* CEO says continuing to look for U.S. acquisitions

(Adds comments from executives on conference call)By Matt ScuffhamTORONTO, Aug 25 Toronto-Dominion Bank
has made changes to its mortgage underwriting practices in
recent years, its chief risk officer said on Thursday,
potentially making it more resilient if house prices fall in
Vancouver and Toronto.

Canada’s banks are facing heightened scrutiny of their
mortgage underwriting practices as authorities try to tackle the
potential threat of a housing bubble in the two cities, where
prices have soared.The country’s banking regulator last month raised concerns
about mortgage underwriting standards across the industry,
citing income verification checks as a concern.Speaking to investors after the bank reported
better-than-expected third-quarter results, TD’s Chief Risk
Officer Mark Chauvin said Canada’s second-biggest lender had
already tightened checks in response to price …

Three dead in street attack in Canada

Three people have been killed in Toronto, with one of the fatalities believed to be caused by a crossbow, say police.Attending to a reported stabbing in the Scarborough area, police found two people dead and one person wounded. The injured person later died.One person is in custody and a crossbow was found in the vicinity.One of the victims suffered injuries consistent with a crossbow, a police official told Canadian media.Constable Jennifer Sidhu, a Toronto police spokeswoman, told the BBC that police received reports of a stabbing incident and arrived just before 1300 EST (1800 GMT) to find the …
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Canada may ask oil firms to pay extra for far-offshore drilling: memo




By Ethan Lou



TORONTO (Reuters) – Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore, according to an internal government memo.



If that happens, it could make the operations more expensive and strain talks that companies will have with provincial governments, which already require them to pay royalties.



A United Nations convention, which Canada ratified in 2003, says signatories need to pay the International Seabed Authority (ISA) if companies drill on the “extended continental shelf,” the seabed part of a country’s landmass, but more than 200 nautical miles (230 miles) offshore.



It was never clear from where that money should come. The ISA said only that Canada, where Norway’s Statoil ASA STL.OL has done such far-offshore explorations, is close to a position that warrants payments under the United Nations Convention on …
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Military veterans tackle business boot camp at University of Regina

Twenty Canadian Armed Forces (CAF) members transitioning out of the military and embarking on new careers took part in a seven-day business boot camp at the University of Regina (U of R).The educational program — named Price’s Operation Entrepreneur — was developed by Prince’s Charities Canada in 2012 and is held annually in four locations across Canada. Regina is the only place west of Quebec where the program is available. Story continues below

Professors and students in the U of R’s Paul J. Hill School of Business volunteered time– sharing expertise and knowledge with the vets. “These military members will be ready to start their second careers,” Paul J. Hill Associate Dean Brian Schumacher said.“They’ve said they want to start their business. We’re going to do what we can to help them along that way.” Through lectures and discussions, the transitioning military members learned lessons in …

Canada's Mounties allow women in uniform to wear hijabs

The Royal Canadian Mounted Police, known as the Mounties, is to allow women in uniform to wear hijabs.Government spokesman Scott Bardsley said the move was to reflect the diversity in Canada’s communities and to attract more female Muslim officers.The iconic uniform, famed for its wide-brimmed hat, has barely changed since it was introduced two centuries ago.Recent figures show women make up about a fifth of the RCMP but it is not clear how many this measure will affect.Three types of hijabs were tested before one was selected as suitable for police work, local media reported.According …
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Canada's stolen daughters

Story highlightsMore than half of all sex trafficking victims in Canada are indigenous people The reasons are rooted in a legacy of poverty, racism and abuse”A whole society is targeting indigenous women and girls,” says an indigenous rights advocate”I used to blame myself for everything. But, like I, I would say I let them do that to me. I am dirty. It’s my fault,” says Chopek through tears. But Chopek is finally speaking out, determined to shake the guilt and shame that she knows should stalk her perpetrators instead of her. “Now I see that I was just a child,” says Chopek, now sitting serenely in a safe house, a healing lodge in rural Manitoba that cradled her in the love and protection she so needed when she escaped her life on the streets. Now 19, Lauren was just 14 when she was sexually exploited and trafficked for sex in …
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AIG in talks to sell Lloyd's insurance business to CPPIB-WSJ

Aug 23 American International Group Inc
is in early talks to sell Lloyd’s of London Ltd’s
insurance operations to Canada Pension Fund (CPPIB), the Wall
Street Journal reported on Tuesday.

If the deal comes through, it could fetch the insurance
conglomerate hundreds of millions of dollars in proceeds, the
Journal reported, citing people familiar with the matter. (on.wsj.com/2bfo1gj)

CPPIB is also in talks to buy a related reinsurance company
based in Bermuda, the WSJ reported.AIG declined to comment while CPPIB could not be immediately
reached.

(Reporting by Nikhil Subba in Bengaluru; Editing by Shounak
Dasgupta)

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Rio Paralympics 2016: Russian doping ban 'cynical', says PM

Russia has reacted with fury after a court upheld a ban on its athletes competing in next month’s Paralympics.Prime Minister Dmitry Medvedev called the ban, levelled over allegations of doping, a “cynical decision”.On Tuesday the Court of Arbitration for Sport (Cas) upheld the International Paralympic Committee’s (IPC) decision to ban all Russian competitors.The IPC made the decision after the McLaren report detailed a Russian state-sponsored doping programme.”Banning our Paralympic athletes from Rio 2016 is a cynical decision motivated by a desire to remove strong rivals,” Mr Medvedev said.Andrei Strokin, the Secretary General of the Russian Paralympic …
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Op-Ed: Health Minister Jane Philpott should resign after limo deception

Limo service fees

Ms. Philpott and her Liberal government were brought to power by Canadians in part to end the kind of politics the minister has shown herself to engage in. It is not simply her craven spending upon limousine travel but her attempts to cover it up by playing with semantics.

The minister has been using a limousine service — she pretends it is something else — and it has cost taxpayers a large sum. Further, the service she used is owned by a man who volunteered on her election campaign.

Executive Sedan Livery Service Inc. is owned and operated by Reza Sirani, who gave time to Philpott’s fall campaign. Make no mistake, his is a limo service with expensive, chauffeured cars. Philpott used it for rides in a luxury vehicle to Toronto’s Pearson Airport from her home in Stouffville, Ont., and on other excursions.

Earlier this year, over the course …
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Canada Stocks Rise, Reverse Loss as Couche-Tard Jumps to Record

(Bloomberg) — Canadian stocks rose, rebounding from early declines to halt a four-day slide, as advances in consumer and health-care companies overcame losses in natural-resource producers. The S&P/TSX Composite Index rose 0.4 percent to 14,748.19 at 4 p.m. in Toronto, after the benchmark fell as much as 0.5 percent. A rising U.S. dollar weighed on commodities, with the currency climbing after a Federal Reserve official signaled interest rates may rise this year. Trading volume was 10 percent lower than the 30-day average.Consumer staples and health-care stocks jumped on corporate news, driving the S&P/TSX higher. Alimentation Couche-Tard Inc. climbed 7.5 percent to a record after the convenience store operator agreed to buy San Antonio-based CST Brands in a cash deal valued at almost $4 billion, its biggest-ever acquisition to expand its foothold in Texas and eastern Canada.In a separate transaction Couche-Tard has also agreed to sell the majority …