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New plan to clean river polluted where Agent Orange was made Mar 5th
NEWARK, N.J. – The federal government has unveiled a revised plan to clean up a heavily contaminated stretch of a river where Agent Orange was made.
The plan, unveiled Friday by the Environmental Protection Agency, calls for about 20 per cent less contaminated Passaic River mud to be removed c.... More »
The best 5-year fixed mortgage rates in Canada + MORE Jan 7th
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance .... More »
Slow economy expected to weigh on bank earnings Feb 22nd
Weak growth, oil slump and stretched consumers to restrain profits as banks begin reporting this week
.... More »
A Plan to Give Community Banks Relief From Dodd-Frank Apr 24th
Smaller institutions didn’t cause the financial crisis, but are drowning in compliance costs..... More »
3 ways to avoid paying bank fees + MORE Jun 15th
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Whenever banks raise fees—and really, how of.... More »
BMO stress testing oil and gas loan portfolio for $25 a barrel scenario
– canadianbusiness.com
TORONTO – Recent declines in the price of crude are spurring Canadian banks to take a closer look at their loan books, with Bank of Montreal stress-testing its oil and gas sector portfolio to see how it would perform at $25 a barrel oil.
Bank of Montreal chief executive Bill Downe says the bank is also stress testing its broader loan portfolios — which includes consumer mortgages, credit cards and auto loans — for an average of $35 a barrel over the course of the year.
For 2017 the bank (TSX:BMO) is using $30 a barrel oil for its stress tests, and for 2018 it’s considering the potential effects of a $40 a barrel scenario.
Downe made his comments during the Canadian Bank CEO Conference in Toronto as crude oil futures were trading at about US$32 a barrel.
Meanwhile, Royal Bank (TSX:RY) CEO Dave McKay said he expects oil to start moving back towards the $50 a barrel range — and maybe slightly above — over the next 18 months.
“It’s a little softer than anybody predicted right now,” McKay said…
Bank of Montreal chief executive Bill Downe says the bank is also stress testing its broader loan portfolios — which includes consumer mortgages, credit cards and auto loans — for an average of $35 a barrel over the course of the year.
For 2017 the bank (TSX:BMO) is using $30 a barrel oil for its stress tests, and for 2018 it’s considering the potential effects of a $40 a barrel scenario.
Downe made his comments during the Canadian Bank CEO Conference in Toronto as crude oil futures were trading at about US$32 a barrel.
Meanwhile, Royal Bank (TSX:RY) CEO Dave McKay said he expects oil to start moving back towards the $50 a barrel range — and maybe slightly above — over the next 18 months.
“It’s a little softer than anybody predicted right now,” McKay said…
Banks in Turkmenistan halt hard currency sales as economy suffers from drop in energy prices
– canadianbusiness.com
ASHGABAT, Turkmenistan – Banks in the natural gas-rich Central Asian nation of Turkmenistan have halted hard currency sales as the economy shows signs of struggling amid falling global energy prices.
Employees at banks in the capital, Ashgabat, told customers Tuesday that the ban on the sale of U.S. dollars and other hard currencies would remain in place indefinitely.
Currencies in other ex-Soviet nations have been buffeted by a combination of plummeting prices for commodities and Russia’s sagging economy.
Turkmenistan’s currency, the manat, has officially held at around 3.50 against the dollar over the past year, although rumours of an imminent sharp devaluation have created strong demand for foreign currencies.
The nation is run by a strict authoritarian government, making any protests against currency restrictions unlikely.
The post Banks in Turkmenistan halt hard currency sales as economy suffers from drop in energy prices appeared first on Canadian Business – Your Source For Business News.
Employees at banks in the capital, Ashgabat, told customers Tuesday that the ban on the sale of U.S. dollars and other hard currencies would remain in place indefinitely.
Currencies in other ex-Soviet nations have been buffeted by a combination of plummeting prices for commodities and Russia’s sagging economy.
Turkmenistan’s currency, the manat, has officially held at around 3.50 against the dollar over the past year, although rumours of an imminent sharp devaluation have created strong demand for foreign currencies.
The nation is run by a strict authoritarian government, making any protests against currency restrictions unlikely.
The post Banks in Turkmenistan halt hard currency sales as economy suffers from drop in energy prices appeared first on Canadian Business – Your Source For Business News.
Royal Canadian Mint sells digital payments platform to Toronto startup
– canadianbusiness.com
TORONTO – The Royal Canadian Mint is ending its experiment with digital payments, selling off its MintChip platform to Toronto-based financial startup nanoPay.
The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014.
Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.
NanoPay says the platform is now live and processing transactions, and will launch commercially in the coming weeks.
The company said it is working to integrate MintChip with banks and retailers.
Companies including Apple and PayPal have launched their own digital payment systems in the years since MintChip was first announced, but the available options are fragmented between different devices, retailers, and banks.
The post Royal Canadian Mint sells digital payments platform to Toronto startup appeared first on Canadian Business – Your Source For Business News.
The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014.
Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.
NanoPay says the platform is now live and processing transactions, and will launch commercially in the coming weeks.
The company said it is working to integrate MintChip with banks and retailers.
Companies including Apple and PayPal have launched their own digital payment systems in the years since MintChip was first announced, but the available options are fragmented between different devices, retailers, and banks.
The post Royal Canadian Mint sells digital payments platform to Toronto startup appeared first on Canadian Business – Your Source For Business News.
