Canadians’ household debt surges to new record as borrowing continues

Canadian household debt soared to a record high in the second quarter of this year as rock-bottom interest rates continued to underpin heavy borrowing.The ratio of debt to disposable income jumped to 167.6 per cent, higher than the first quarter’s 165.3 per cent and eclipsing last year’s record, according to Statistics Canada’s national balance sheet report released on Thursday.

Household debt could be a lot worse: real estate analyst (BNN Video)

At the end of the second quarter, households owed $1.68 in debt for every dollar of disposable income.“Canadians love debt, and with interest rates this low, why wouldn’t they,” Leslie Preston, senior economist with Toronto-Dominion Bank, said in a note.Canada’s central bank is not expected to raise interest rates for at least another year, setting the stage for Canadians to shoulder even more debt.Ms. Preston said it may be reassuring to point out …

Police in Canada not 'following the money' of crime groups, …

Stack of Canadian $20 (dollar) bills -currency money – for investing section [PNG Merlin Archive] (bundles oF $10,000)
/ Vancouver SunPolice in Canada are not doing enough to investigate money laundering by more than 650 organized crime groups trying to hide their illicit cash, an international oversight agency says in a new report.The Financial Action Task Force (FATF), a body that creates standards to tackle money laundering globally, said “Canada is exposed to a very high money laundering threat of both local and foreign origin.”While various types of fraud were cited as major sources of laundered money, the report said “the proceeds of drug trafficking laundered in Canada are also significant and derive predominantly from domestic activity controlled by organized crime groups.”“Organized criminal groups pose the greatest domestic money laundering risk, as they are involved in multiple criminal activities generating large amounts of proceeds of crime,” FATF said.Money laundering is …

Lazard acquires boutique Verus to expand into Canadian advisory market

By John Tilak
| TORONTO

Investment banking and asset management firm Lazard Ltd (LAZ.N) said on Wednesday that it had acquired Verus Partners, a boutique Canadian investment bank, to expand its financial advisory business into Canada.The move comes as independent advisors have been commanding a growing share of the European and U.S. investment banking markets in recent years. Lazard has been seen as a pioneer of that trend. Toronto-based Verus provides M&A and capital markets advisory across all major sectors. Verus Managing Partner Brian Hanson will be chairman and chief executive officer of Lazard’s Canadian investment banking …
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Bayer's Monsanto acquisition to face politically charged scrutiny

By Diane Bartz and Greg Roumeliotis
| WASHINGTON D.C./NEW YORK

WASHINGTON D.C./NEW YORK As the global agricultural sector races to consolidate, Bayer AG’s $66 billion all-cash deal to acquire Monsanto Co will test growing political and consumer unease in the United States and abroad over the future of food production.Bayer’s pesticide-focused agricultural business has few overlaps with Monsanto’s dominant seed franchise, according to the companies’ executives. Still, marrying two of the world’s top farm suppliers at a time when rivals are also merging is fueling concern over reduced competition in the $100 billion global market.Monsanto and …
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We lost a lot when the old Canada Cup was rechristened

On the eve of another World Cup of hockey, the first in a dozen years, it’s worth asking: Was rebranding the Canada Cup – and losing out on its important legacy – a mistake? It happened back in the mid-1990s, when the NHL and the players’ association – in an eager desire to broaden the scope of what they perceived as a regional tournament – rechristened the event the World Cup.

In soccer and other sports, the designation World Cup generally translates into big dollars, captive audiences and breathless anticipation of a once-every-four-years’ event.By contrast, a hockey tournament named the Canada …
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Canadian energy asset sales seen picking up in coming months

By John Tilak
| TORONTO, Sept 13

Canadian energy companies will
likely sell more exploration and production assets in the next
several months, driven by weaker producers shoring up their
balance sheets and the longer-term prospect of oil prices
stabilizing, deal advisers said.Mergers and acquisitions activity in the Canadian energy
patch has waned since oil price began sliding more than two
years ago. Many deals have involved so-called midstream assets
such as pipelines, storage and processing facilities, which are
more likely to offer steady cash flow.The expected shift to the E&P, or upstream, segment, which
tends to carry both …
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Canada’s Sports Hall of Fame unveils Terry Fox exhibit on eve of run

Terry Fox won no races nor set any Canadian running records. There wasn’t a frame of reference in 1980 for an above-the-knee amputee running almost a marathon daily on an artificial leg for 143 consecutive days.An exhibit unveiled Tuesday at Canada’s Sports Hall of Fame just days away from his namesake run would have meant a lot to Terry Fox, says younger brother Darrell.

Terry Fox saw his Marathon of Hope as much of an athletic endeavour as it was a campaign to raise money and awareness about cancer.“Terry did not crave recognition for himself. In fact he …
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