Ottawa is launching consultations with the financial industry that could see lenders shouldering as much as 15 per cent of the costs of losses on defaulted mortgages that have government-backed insurance.
Canada's main stock index rose to a 16-month high on Friday as shares of energy and materials companies gained ground and investors speculated on a rate cut from the Bank of Canada.
Within Royal Bank of Canada's upper echelons, there is an unwritten, but widely-respected rule: Never be late for chief financial officer Janice Fukakusa's meetings.
The locally-owned hydro companies in Thunder Bay and Kenora, Ont. have announced they're exploring a potential merger. In a press release issued Friday morning, the two utilities jointly confirmed they've signed a memorandum of understanding.
TORONTO -- Ontario will import enough electricity from Quebec to power a city of over 200,000 people under a seven-year agreement signed Friday at a joint cabinet meeting of the two governments.