November 30, 2023
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Alex Lupul/The Canadian Press

Toronto-Dominion Bank TD-T reported lower fourth-quarter profit that missed analysts’ estimates as it announced job cuts in an attempt to rein in climbing expenses.

TD earned $2.9-billion, or $1.49 per share, down 57 per cent in the three months that ended Oct. 31. Adjusted to exclude certain items, the bank said it earned $1.83 per share. That fell below the $1.91 per share analysts expected, according to Refinitiv.

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Frank Gunn/The Canadian Press
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Opinion

Bank of Canada Governor Tiff Macklem keeps telling us that Canada hasn’t fallen into a true recession. Most economists tend to agree with him. Certain economics columnists at national newspapers (ahem) have said the same thing.

But apparently, Canadian consumers – whose opinion matters a lot in this question – strongly disagree. Their profound and deepening pessimism could change the policy discussion very quickly at the central bank.

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A ONCE IN A LIFETIME VOYAGE NARRATED BY SOME OF YOUR FAVOURITE JOURNALISTS
A ONCE IN A LIFETIME VOYAGE NARRATED BY SOME OF YOUR FAVOURITE JOURNALISTS
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