Scotiabank to buy ING Direct

Bank of Nova Scotia has agree to purchase ING Groep's Canadian online bank for C$3.1 billion ($3.14 billion) in cash, taking advantage of a rare opportunity to grab market share in the crowded Canadian retail banking space.

Our love affair with debt keeps Canada’s banks on top

BloombergCanadian banks lived up to their reputation for cranking out profits even in brutal conditions today — and they have Canadians' appetite for debt to thank. But for how long?

Rising prices, mortgage rates make it tougher to afford a home

Rising home prices and mortgage rates are making it harder to afford a home in many parts of the country, and could push more people in to rental properties.

It’s time to broaden Bank of Canada’s mandate

Mike Moffatt’s friendly rebuttal of my comments on last week’s inflation report advances an important debate about Canadian monetary policy and the exchange rate. In fact, I believe that we agree on several key aspects of the central bank’s capacity to moderate our overvalued loonie.

Housing downturn won’t be as deep as some fear: CIBC

A senior economist at one of Canada’s major banks says a widely anticipated downturn in the housing market may not be as deep or as long-lasting as some fear.

Home ownership in Canada reaching new heights

With home-ownership rates headed for record levels and the federal government tightening lending rules to cool the market, the question now is whether we have reached the saturation point.

Immigrants' steep climb to success

Textbook economics suggests immigration should lift productivity. After all, new immigrants open up trade opportunities; they diversify the engines of economic growth; they offer new and different perspectives on business; and they inherently take risks in hope of greater gains - a key ingredient of innovation.

Big banks have high interest in ING sale

ING Bank of Canada built its name by presenting itself as an alternative to the country’s biggest banks. Now, it’s likely to be swallowed by one of them.