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Sunday , 26 March 2017

Monthly Archives: September 2016

New bank launches, plans to target Canada’s Chinese community

The slogan for Canada’s newest federally chartered bank immediately makes clear the bank’s strategy. Wealth One Bank of Canada offers “banking that speaks your language.” That language is Mandarin and Cantonese Chinese, and the new bank, which describes itself as community focused, aims to become the preferred bank among Chinese Canadians. It launched with offices in Vancouver and Toronto, with an eye to “cross-country expansion” in the years to come. Speaking to Bloomberg, Lambert said that there was more than enough room for more competition in the Canadian banking sector, particularly in the two target cities where the majority of Canada’s 1.32 million citizens of Chinese origin reside. Despite its focus ... Read More »

Little progress toward gender equality in Canada’s boardrooms

Since 2014, Canadian companies listed on the Toronto Stock Exchange have been required to disclose the number of women who sit on corporate boards and hold senior management positions. The law firm of Osler, Hoskin and Harcourt LLP has just released its second annual report on the state of gender diversity in those TSX companies, giving a snapshot of the representation of women in leadership roles in corporate Canada. As was true with the first annual report in 2015, results of the second are disappointing. There is “room for improvement” in many areas, and “little progress” has been made. While a “slight” increase in the average number of women executives ... Read More »

Now that Toronto is hottest market in Canada, is it time to sell?

It’s a race we’d probably rather not have won, but Toronto has been declared Canada’s hottest housing market. There was only one other runner, of course, Vancouver. According to TD Bank economist Diana Petramala, Vancouver is now in correction mode, with home prices expected to fall a modest 10 per cent. Toronto, in contrast, has “picked up steam.” Average home prices grew by 18 per cent over last year, exceeding Vancouver’s, and existing sales hit a new record in August. So far, Petramala says in a Globe and Mail piece, there’s little to slow the market’s momentum in the near term. Interest rates are staying low, economic fundamentals are sound, ... Read More »

NYC taking lessons from Toronto on streetcars, open-gangway subway cars

Every time we hear about public transit in Toronto (more or less every day), it seems to be a bad-news story: delays, shutdowns, fare increases, lack of air conditioning, too-long wait times, overcrowding. The list, as they say, goes on. It’s enough to make a person wonder, is there anything at all that’s good about transit in Toronto? Was there a time, a long-ago golden age, when the TTC slogan “the better way” could be uttered without irony? Could Toronto possibly have anything to teach other cities about transit building? As it happens, yes, it could, especially in the streetcar department, for Toronto is the acknowledged streetcar capital of North ... Read More »

Toronto named third-best global “city of opportunity,” with high quality of living

And the 2016 bronze medal in the category Cities of Opportunity goes to—Toronto! Yes, Toronto, along with London and Singapore, has what it takes as a global business, finance and culture capital of the world. It takes a combination of many factors, says PricewaterhouseCoopers’ global study of thirty cities, to make a city a world leader: education, transit, health, economics and governance are the main ones. The heart of the city, says PwC, revolves around balanced social and economic strengths. Quality of life factors are at the centre of the “big city picture.” Toronto rose one place in the ranking this year, from fourth to third, due to its consistently strong ... Read More »

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