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Like Canada’s big banks, lending institutions are starting to embrace ‘fintech’ – financial technology – to protect key consumer and lending businesses from upstart online challengers which use a combination of data and technology to entice customers. British Columbia’s First West Bank and Vancouver-based Grow announced Wednesday they’ve formed a partnership targeting B.C. residents. , Northern Bank, located in Sault ...

Canada is going to be among the hardest hit nations within the planet if oil remains below US$50 for the next five years, barely eking out one per cent growth annually, economists say. “In a world of ultra-low oil prices, Canada’s growth model must change,” said Emanuella Enenajor, senior United states economist for Bank of the usa Merrill Lynch. “But ...

OTTAWA – Amid hopes that Canadian manufacturing will drive economic development in a country reeling from low oil prices, internal federal documents warn the sector’s rebirth is staring at “significant” structural obstacles. In a recent memo addressed to Economic Development Minister Navdeep Bains, advisers indicate industry hurdles which include low productivity, poor innovation, a failure to scale up and weak ...

With each new subsidy, tax incentive, or project, we’re told some quantity of jobs follows. No doubt you’ve seen the headlines. The Trans Mountain Pipeline can create 3,300 permanent jobs and East can create over 4,250. Bombardier, which is looking for government financial support, claims responsibility for 64,800. The numbers aren’t pulled from nothing, they are available from what exactly ...

Real-estate investment company Sun Real estate just closed a share-sale deal to buy two low-rise apartment buildings in Vancouver’s West End. Located at 1075 Nelson and 1059 Nelson, they’re assessed at $16 million and sold for about $60 million, according to real estate sources. The deal may be the latest by Sun, an aggressive new speculator within the Greater Vancouver ...

CALGARY C Husky Energy Inc. confirmed another wave of layoffs Tuesday, because the company shrinks its headcount in an attempt to survive sub-$30 oil prices. Oilpatch employees in Calgary began calling the 2nd day of the job week “Termination Tuesday” during the period of 2015, as major oil and gas firms trimmed staff as oil prices fell. Husky, one of ...

MONTREAL — Canadian National Railway says it plans to spend $2.9 billion this year to improve its efficiency, support long-term growth and strengthen safety. CN’s capital budget for 2016 includes $1.5 billion for track infrastructure. That includes rail replacement, bridge improvements and branch line upgrades. Related CN Rail chief Claude Mongeau returns from sick leave to announce strong earnings, outlookCanada’s ...

TORONTO – The CPP Investment Board says the funds it manages for that Canada Pension Plan delivered a 4.5 per cent return, after costs, within the final 3 months of 2015. As of Dec. 31, which marks no more CPPIB’s 2015-16 fiscal third quarter, the CPP Fund had $282.6 billion of assets — up from $272.9 billion at Sept. 30. ...