Economy

Record bull run? Time to help clients prepare for the worst

The economy is growing, the stock market is soaring and unemployment remains low. It’s the perfect time to prepare for the worst. Financial planners know that no party goes on forever. And it’s much easier to make smart decisions when things are going well than when times are tough. Now’s the time to help clients […]

By Staff, with files from The Associated Press |August 23, 2018

3 min read

U.S. banks made record $60B in profits in Q3

U.S. banks set a record by making more than $60 billion in profits in the second quarter, federal regulators said Thursday, up more than 25% from a year earlier. The Federal Deposit Insurance Corporation said the profit boost came because banks have been able to charge more interest on loans in recent months and received […]

By Ken Sweet, The Associated Press |August 23, 2018

2 min read

Retail sales fall in June, but GDP remains on track

Economic data released Wednesday shed little light on the Bank of Canada’s next move and don’t alter forecasts for second-quarter GDP, a CIBC economist said. Retail sales edged down 0.2% in June to $50.7 billion, following a 2.2% increase in May, says StatsCan. In a report, CIBC senior economist Royce Mendes says the drop was […]

By Staff |August 22, 2018

2 min read

Autos contribute to June wholesale sales drop

Statistics Canada says wholesale sales fell 0.8% in June to $63.1 billion. The drop came as the motor vehicle and parts subsectors saw sales drop 1.9% to $10.9 billion. The miscellaneous subsector fell 2.2% to $8.2 billion on lower sales in the agricultural supplies industry. Overall, Statistics Canada says sales were down in five of […]

By Staff, with files from The Canadian Press |August 21, 2018

1 min read