Top Business Headlines Morning Edition

April 19, 2024

Top News

Fred Lum/The Globe and Mail

TD Bank CEO asks shareholders for patience as U.S. regulatory probe stretches into second year

Stefanie Marotta

Banking Reporter

Toronto-Dominion Bank TD-T chief executive officer Bharat Masrani pleaded with shareholders for patience on the probe by U.S. regulators into the lender’s anti-money-laundering practices as the investigation stretches into its second year.

Mr. Masrani fielded questions from frustrated shareholders at the company’s annual meeting Thursday, who asked about the status of a lengthy probe by U.S. regulators that derailed the bank’s takeover of Tennessee-based First Horizon Corp. last spring.

Editorial Picks

Laura Proctor/The Globe and Mail

Toronto votes to keep vacant home tax after second year causes chaos

Oliver Moore

Urban Affairs Reporter

Nathan Denette/The Canadian Press

B.C. pension fund manager sells $1-billion of private equity holdings to French buyout firm Ardian

James Bradshaw

Institutional Investing Reporter

Carlos Osorio/Reuters

Police make another arrest in gold heist at Pearson International Airport

Eric Atkins

Transportation Reporter

Opinion

Fred Lum/the Globe and Mail

Canada will finally allow banks to share data about crooked clients to combat financial crime

Rita Trichur

The Liberal government is moving into the 21st century and belatedly giving banks an important tool to foil financial criminals.

As outlined in the federal budget, Ottawa plans to increase permissible information sharing among financial institutions so that they can better detect and deter money laundering, terrorist financing and sanctions evasion.

At present, financial institutions are restricted from warning each other about crooked clients who perpetrate a host of financial crimes. The only exception is fraud prevention. As a result, dirty money often freely flows from bank to bank even if some financial institutions detect illicit activity and shut down accounts.

Energy and Resources

Oil field firm SLB’s first-quarter profit rises on international drilling demand

Financial Services

Ottawa to force banks to identify carbon rebate by name in direct deposits

Mia Rabson

Inside the Market

Here’s a shareholder dispute to cheer on

Economy

How many employees has the federal government hired since 2015? Take our business and investing news quiz

Canada risks going too far in overhauling competition law

Technology, Telecom & Media

Netflix shares slip after company stops subscriber tally report, forecasts downbeat quarterly revenue

International Business

Small Business

Indigenous communities are leading Canada’s clean energy transition

Careers

How to answer the ‘What are your weaknesses’ question in an interview

In Case You Missed It

Fred Lum/The Globe and Mail

Hockey gear maker CCM up for sale as private equity owner looks for an exit

Andrew Willis

Paid Post

shironosov/Getty Images

What’s in store for 2024: Here’s what our top economists are saying

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