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BMO, Scotiabank hit 'high water mark' as they set aside more cash for bad loans

BMO, Scotiabank hit 'high water mark' as they set aside more cash for bad loans

TORONTO — Canadian banks are continuing to put aside hefty amounts of money to protect themselves from bad loans as the COVID-19 pandemic rages on, even as they hope the worst has passed.
Rap at auction: Biggie's crown and Tupac Shakur letters

Rap at auction: Biggie's crown and Tupac Shakur letters

NEW YORK — Rivals in life, the rappers Notorious B.I.G. and Tupac Shakur are being united for an auction at Sotheby’s, the first-ever dedicated hip-hop auction at a major international auction house.

Merger of investment and mutual fund dealer regulators could save $490M: report

TORONTO — The self-regulatory organization that oversees investment dealers and their trading activity in Canada says a merger with the Mutual Fund Dealers Association would save as much as half a billion dollars over 10 years.
July sales of new homes surge 13.9%, far more than thought

July sales of new homes surge 13.9%, far more than thought

SILVER SPRING, Md. — Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns.
US consumer confidence falls in August to lowest in 6 years

US consumer confidence falls in August to lowest in 6 years

WASHINGTON — U.S. consumer confidence fell for the second consecutive month, sinking to the lowest levels in more than six years as a resurgence of COVID-19 infections in many parts of the country heightened pessimism.
Former Foodora workers reach $3.46M settlement with app's parent company

Former Foodora workers reach $3.46M settlement with app's parent company

TORONTO — Foodora Inc.'s parent company has reached a $3.46-million settlement with its former Canadian couriers after shutting down its delivery service in the country.
S&P CoreLogic Case-Shiller: US home prices rise 3.5% in June

S&P CoreLogic Case-Shiller: US home prices rise 3.5% in June

WASHINGTON — U.S. home prices rose at a slightly slower pace in June, but the U.S. housing market continued to show resilience in the face of the coronvavirus pandemic. The S&P CoreLogic Case-Shiller 20-city home price index rose 3.
BMO Financial Group reports $1.23B Q3 profit, tops analysts' expectations

BMO Financial Group reports $1.23B Q3 profit, tops analysts' expectations

TORONTO — BMO Financial Group put aside a hefty amount of money again to protect itself from bad loans, but still managed to beat expectations and post a $1.23-billion profit in its latest quarter.
Financials, energy help power S&P/TSX composite higher as optimism lifts markets

Financials, energy help power S&P/TSX composite higher as optimism lifts markets

TORONTO — Optimism in the wake of positive signs for relief from the pandemic-induced economic slump powered markets higher in both Canada and the United States on Monday.
Travel agents reach $7-million settlement in class action against Flight Centre

Travel agents reach $7-million settlement in class action against Flight Centre

TORONTO — Flight Centre Travel Group Inc. has reached a $7-million settlement in a proposed class action lawsuit against it by its Canadian travel agents.