Fitch Affirms National Bank of Canada's Ratings at 'A+/F1'; Outlook Stable

(The following statement was released by the rating agency)
NEW YORK, October 28 (Fitch) Fitch Ratings has affirmed National
Bank of
Canada’s (NBC) long- and short-term Issuer Default Ratings
(IDRs) at ‘A+’ and
‘F1’, respectively. The Rating Outlook is Stable. A full list of
rating actions
follows at the end of this release.
This rating action follows Fitch’s periodic review of the
Canadian Banks Peer
Group, which includes Bank of Montreal (BMO), Bank of Nova
Scotia (BNS),
Canadian Imperial Bank of Commerce (CIBC), Caisse Centrale
DesJardins (CCD),
National Bank of Canada (NBC), Royal Bank of Canada (RBC) and
Toronto-Dominion
Bank (TD).
Company-specific rating rationales for the other banks are
published separately.
For further discussion of the Canadian Banks sector, please
refer to the special
report titled ‘Canadian Bank Peer Review’ at
www.fitchratings.com.
Recently, the Ministry of Finance has announced important
changes to the housing
finance system in …

Will Data Plans Catch Up To Canadians' Changing Viewing Habits?

It’s official: Canadians are cutting the cord and hungry for data.This week, the Canadian Radio-television and Telecommunications Commission (CRTC) released its full Communications Monitoring Report. While filled with insights, it contains two major takeaways about how Canadians’ viewing habits.First, more and more Canadians are moving from traditional TV to online platforms like Netflix to view content. Second, they’re using more data than ever before. In fact, to use the CRTC’s own language, data consumption has “skyrocketed over the last year,” jumping 40 per cent from 2014 to 2015 — even in the face of steep and rising prices for communications services.So with official government reports confirming that citizens are jumping ship on outdated TV offerings in favour of the streaming revolution, you may be wondering: “When will our data caps catch up?” After all, data caps are currently one of the main limiting factors for cord cutters.

Dollars for data, …

Gary Lamphier: RMS Builders still among Canada's fastest-growing companies

RMS Group president Curtis Way at the TownPlace Suites hotel construction site at Calgary Trail and Ellerslie Road in Edmonton, September 30, 2015.
Ed Kaiser / Postmedia

A year ago, RMS Builders joined a star-studded cast of promising junior firms when it was named the fastest-growing builder and the second fastest growing company in Canada.
The honour was bestowed on the low-profile, Edmonton-based general contractor and real estate developer by Canadian Business magazine in its annual Profit 500 rankings.
RMS earned the spotlight by generating 2014 revenues of more than $30 million, up an eye-popping 15,000 per cent over the previous five-year period. RMS has built its business one small step at a time, on bread-and-butter projects such as suburban hotels and car dealerships.
Although industry giants such PCL Construction, Ledcor and EllisDon are exponentially larger, RMS and its founder, NAIT business grad Curtis Way, have managed to carve out a growing foothold in a tough, highly …

Marvel CEO countersues Toronto businessman for defamation

The billionaire CEO of Marvel Entertainment is countersuing a Canadian multimillionaire for defamation in a long-running legal battle that was sparked by a dispute over a female tennis pro at their exclusive Palm Beach enclave.Isaac Perlmutter, one the largest shareholders in the Walt Disney Company, filed a lawsuit against Toronto businessman Harold Peerenboom on Tuesday, alleging he illegally obtained DNA from Mr. Perlmutter’s wife, Laura, and falsely implicated the couple in a hate-letter campaign.

The reclusive 73-year old Mr. Perlmutter, who sold Marvel to Disney for $4-billion (U.S.) in 2009, has never given an interview. Mr. Peerenboom, who owns the international head-hunting firm Mandrake and other Canadian businesses, has a defamation suit pending against Mr. Perlmutter in a Palm Beach, Fla., court.The civil litigation stems from a dispute over Karen Donnelly, the tennis pro at the wealthy gated community where both men reside. Mr. Peerenboom alleges that …

Vancouver’s Idea Labs is designed to match Canadian tech startups with China’s hunger for new technology

A young Canadian-Chinese company that concentrates on technology transfer is using a unique business model to match Canadian entrepreneurial startups with the ever-growing hunger in China for new technology.
Since 2013, Vancouver’s Istuary Innovations has married Chinese and Canadian investment with Canadian technology expertise to create an innovation lab in Vancouver and Zenchen, China. It has also started a venture capital operation that invests in promising young North American companies that want to globalize quickly.
Recently, it created “idea labs” in Vancouver, Toronto, Waterloo, Ont., and has plans to open another in Montreal. The labs and a new “Innovation Centre” in Vancouver will work to create new technology to feed a growing demand in China, which is trying to move beyond an industrial economy.

Ethan Sun, founder and president of Istuary, and an engineer who worked with the early tech giant Nortel, said his new company has grown to more …

Vancouver’s Idea Labs is designed to match Canadian tech startups with China’s hunger for new …

A young Canadian-Chinese company that concentrates on technology transfer is using a unique business model to match Canadian entrepreneurial startups with the ever-growing hunger in China for new technology.
Since 2013, Vancouver’s Istuary Innovations has married Chinese and Canadian investment with Canadian technology expertise to create an innovation lab in Vancouver and Zenchen, China. It has also started a venture capital operation that invests in promising young North American companies that want to globalize quickly.
Recently, it created “idea labs” in Vancouver, Toronto, Waterloo, Ont., and has plans to open another in Montreal. The labs and a new “Innovation Centre” in Vancouver will work to create new technology to feed a growing demand in China, which is trying to move beyond an industrial economy.

Ethan Sun, founder and president of Istuary, and an engineer who worked with the early tech giant Nortel, said his new company has grown to more …

TransForce says U.S. acquisition gives Canadian firms better access to Mexico

MONTREAL — TransForce’s US$558-million acquisition of U.S. company Con-Way Truckload will make it easier for Canadian firms looking to ship goods to Mexico, CEO Alain Bedard says.
TransForce’s Transport America subsidiary did at least US$30 million of annual business shipping goods between the U.S. and Mexico, but almost nothing between Canada and Mexico.
The Con-Way deal will see the company’s U.S.-Mexico business grow to about US$200 million and give TransForce a network of more than 50 local partners across the U.S. southern border.
“I think we’re going to be the carrier with size and connection,” Bedard said in an interview Friday.  “When you do 50,000 loads a year in and out of Mexico, you are somebody.”
Con-Way currently doesn’t serve Canada but its addition to TransForce will provide Canadian customers with access to employees who speak English and Spanish and are experienced in transborder shipping.
Bedard sees …

'A great Albertan, a great Canadian': Jim Prentice honoured in state memorial

Jim Prentice, the former Alberta premier and federal cabinet minister, was remembered during a state memorial Friday as a skilled politician, a loving family man and a dedicated servant to the people of Canada.
Master of ceremonies Jason Hatcher, a close friend who worked with Prentice early in his political career, said the gathering was to pay tribute to all of Prentice’s life.
“Today we are not here to remember a politician but rather a great person, a great Albertan, a great Canadian,” he said.
“Jim was a husband, a father, a grandfather, a brother, an uncle, a friend, a mentor.”

The 2,500-seat Southern Alberta Jubilee Auditorium in Calgary hosted the service, which began with a recognition that it was being held on traditional land of Treaty 7 First Nations and with an Aboriginal honour song, performed by the Black Otter Singers.
Former prime minister Stephen Harper, who was among numerous …

National Bank of Canada cuts 600 jobs in restructuring

TORONTO (Reuters) – National Bank of Canada said on Thursday it will cut 600 jobs as part of a restructuring and take a charge of C$175 million ($131 million) in the fourth quarter.

Canada’s sixth biggest lender said the charge included severance payments to employees and the cost of changing premises. The restructuring will bring C$120 million in annual savings.

The bank said that at the same time it is looking to fill over 500 positions, primarily in sales, service and IT functions and expects to increase the proportion of its staff in “knowledge-intensive” sectors over the coming years.

Banks around the world …
Go to Source