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CIBC: Gold is still going towards $2,000 and silver to $31

Photo by Jingming Pan CIBC: Gold is still going towards $2,000 and silver to $31 Despite the selloff that caused gold to drop by more than 5% within a week, Canadian bank CIBC is still optimistic on both gold and silver’s prospects over the next few years. While the bank downgraded their average 2021 forecast for gold to […]

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Soaring Canadian Insolvencies Cripple Local Banks

Soaring Canadian Insolvencies Cripple Local Banks Banks in Canada are starting to feel the pain of deteriorating credit quality, just weeks after we reported that insolvency filings had skyrocketed in almost all Canadian provinces.  Toronto-Dominion Bank and Canadian Imperial Bank of Canada both just posted ugly first quarter results that included higher provisions for loan losses as a key contributor […]

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CIBC CEO explains why bank is replacing Canadian staff with workers from India

CIBC CEO explains why bank is replacing Canadian staff with workers from India CEO Victor Dodig acknowledges that ‘outsourcing isn’t a popular decision’ CIBC CEO Victor Dodig sent a memo to staff on Friday to explain why the bank sometimes needs to outsource work to other countries. (Jeff McIntosh/Canadian Press) CIBC’s CEO issued an internal staff […]

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Bank watch lists early warning sign of trouble for oil and gas industry

Bank watch lists early warning sign of trouble for oil and gas industry Royal Bank, CIBC and Scotiabank each added 9 oil and gas firms to watch lists in recent quarterly earnings In releasing their latest quarterly earnings, Royal Bank, CIBC and Scotiabank each added nine oil and gas firms to their loan watch lists, […]

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These Are The Two Canadian Banks Most Exposed To A Severe Oil Shock According To Moody’s

These Are The Two Canadian Banks Most Exposed To A Severe Oil Shock According To Moody’s Two weeks ago we asked if, in the aftermath of the dramatic selloff suffered by European banks over commodity exposure concerns, whether Canadian banks would not be next in line. The reason was that according to an RBC report, while […]

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Younger workers more likely to see less income in retirement, CIBC says Average person born in ’80s and after may see only 70% of pre-retirement income, economist Benjamin Tal says

Younger workers more likely to see less income in retirement, CIBC says Average person born in ’80s and after may see only 70% of pre-retirement income, economist Benjamin Tal says Urgent attention needs to be given to what Canadians can expect to get in retirement income — something that’s become a real divide along generational lines, […]

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Olduvai IV: Courage
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