TORONTO - Panic about how the oil price shock could affect the banks' bottom lines has subsided, as several of the country's largest financial institutions reported better-than-expected third-quarter results.
The wildfires in Fort McMurray slammed Canada's private sector in the second quarter, pummelling insurers' profits and deepening losses in the oil patch.
TORONTO - Royal Bank CEO David McKay says the lender is "closely monitoring" the real estate markets in Vancouver and Toronto, where home prices have been climbing at a breakneck pace.
Aug 25 Canadian miner Kinross Gold Corp said it has suspended operations at its Maricunga gold mine in Chile, and will lay off 300 employees after a judicial decision upheld a regulator's move to shut down the water system linked to the mine.
Canada's main stock index fell on Wednesday as lower metal and oil prices weighed on resource stocks, offsetting gains for financials after Royal Bank of Canada reported better-than-expected earnings.