Briefing highlights
- World’s most ‘liveable’ cities
- Markets at a glance
- Scotiabank raises dividend as profit climbs
- BMO profit up, dividend unchanged
- Home Capital names new CFO
'Liveable' cities
Vancouver, Toronto and Calgary are among the world's most "liveable" cities, a new study says.
And here's a thought, mate: Melbourne may be No. 1, and two other Australian cities Nos. 6 and 7, but Canada edges out our friends Down Under when you add up the scores of those ranked at the top.
Vancouver is No. 3 in the annual "liveability survey" by the Economist Intelligence Unit, Toronto No. 4 and Calgary No. 5 among 140 cities.
Australia's Adelaide is in a tie with Calgary for fifth spot, followed by Perth, which is ranked No. 7 by the EIU, part of the group related to The Economist magazine.
The only other Canadian city on the full list, Montreal, ranked No. 12.
When you add up the overall scores of the individual cities in the top five, or take the average, Canada edges out Australia by a hair. (Which doesn't really mean anything because it's the individual city that matters, but I'm big on bragging rights.)
Canada, of course, is often compared with Australia because of their resource-based economies, which also means their currencies frequently move in lockstep.
Like other such surveys, the results can be used by companies and governments to help determine compensation for employees heading abroad.
"Companies pay a premium (usually a percentage of a salary) to employees who move to cities where living conditions are particularly difficult and there is excessive physical hardship or a notably unhealthy environment," the EIU said.
Which obviously doesn't mean Canada and Australia, but rather places like these at the bottom of the rankings:
A score of 80-100 means "there are few, if any, challenges to living standards," the EIU said in the report's overview.
The scores are based on several findings, including crime and the threat of terrorism or domestic unrest, health care, education and infrastructure.
There's also a broad category of "culture and environment" that takes in everything from humidity and social and religious restrictions to censorship, food, drink and consumer goods and services.
Also included in that group is "sporting availability." (The EIU doesn't demand that the teams actually win, so take heart.)
Infrastructure, by the way, includes "availability of good quality housing."
Given the nature of the survey, and what it's meant to accomplish, home prices don't appear to be a big issue. So for Vancouver and Toronto, in particular, for Canadians it may not matter how liveable the city is if you can't afford to live there.
Melbourne has led the rankings for seven straight years, and the top five are the same as in the last survey.
"There does appear to be a correlation between the types of cities that sit at the very top of the ranking," the EIU said.
"Those that score best tend to be mid-sized cities in wealthier countries with a relatively low population density," it added.
"These can foster a range of recreational activities without leading to high crime levels or overburdened infrastructure. Six of the 10 top-scoring cities are in Australia and Canada, which have, respectively, population densities of 2.9 and 3.7 people per square kilometre."
Terrorism, civil unrest and geopolitics play a big role in the study.
"While not a new phenomenon, the frequency and spread of terrorism have increased noticeably and become even more prominent," the EIU said.
"Western Europe has become a focal point for mounting concerns, and repeated attacks in France and U.K. have had a contagion effect, raising terror alerts and lowering stability scores in cities across the region," it added.
"However, there are other factors that could prove to be destabilizing. Unrest has grown in some countries, particularly over the migration crisis, and the British vote to leave the EU could pave the way for further uncertainty and political conflict."
Then there's the United States.
"Over the past few years several U.S. cities have registered declines in their scores," the group said.
"This stems in part from unrest related to a number of deaths of black people at the hands of police officers. In addition, the country has seen protests held in response to President Trump's policies and executive orders."
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Scotiabank raises dividend
Bank of Nova Scotia unveiled a three-cent dividend increase as its third-quarter profit climbed.
Scotiabank's profit rose to $2.1-billion, or $1.66 a share, from $1.96-billion a year earlier, the latest Canadian bank to report said today.
Its quarterly dividend rises to 79 cents.
Return on equity came in at 14.8 per cent, "in line" with last year.
Chief executive officer Brian Porter, citing strong results from both Canadian and international operations, added they will "allow the bank to continue making strategic investments."
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BMO profit rises
Bank of Montreal also reported third-quarter results, its profit climbing to $1.39-billion or $2.05 a share.
That compared to $1.37-billion or $2.03 a year earlier.
BMO’s return on equity rose to 13.4 per cent, and provisions for credit losses declined sharply.
Chief executive officer Bill Downe, saying the performance “continues to demonstrate the strength of our differentiated operating model,” left his dividend unchanged.
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More news
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