Skip to main content

Featured

Your lookahead horoscope: February 8, 2026

  IF TODAY IS YOUR BIRTHDAY A Venus-Uranus link on your birthday suggests you will be attracted to people and causes that are out of the ordinary over the next 12 months. That’s fine, but take care you don’t get swept away by passions you may not be able to control. ARIES (March 21 - April 20): It’s never nice being told you are wrong but on this occasion the person doing the telling is doing you a favour. If you carry on along your current path you will inevitably hit a wall, so listen to what they have to say. It’s good advice. TAURUS (April 21 - May 21): You seem to be wasting a lot of time and energy on minor matters that can probably be safely ignored and that is something you will need to deal with over the next few days. There are far more important things that need looking at. GEMINI (May 22 - June 21): Do what you want to do this week rather than what other people expect you to do. You have gone out of your way of late to make life easier for family and friends and now you...
Post a Comment
Read more

article

Labels

TD to slash jobs after disappointing earnings report


The Toronto-Dominion Bank (TD) announced that it will cut an unspecified number of jobs as part of a restructuring plan to reduce costs and improve efficiency. The move comes after the bank reported lower-than-expected earnings for the fourth quarter of 2023, amid rising expenses and higher provisions for credit losses.

According to its financial results, TD earned $3.2 billion, or $1.72 per share, in the quarter ended Oct. 31, down from $3.5 billion, or $1.87 per share, a year earlier. Analysts had expected earnings of $1.79 per share, according to Refinitiv. The bank’s revenue increased by 4 per cent to $11.8 billion, but its expenses rose by 7 per cent to $6.9 billion. The bank also set aside $1.1 billion for bad loans, up from $891 million in the same period last year.

TD’s chief executive officer Bharat Masrani said the bank is facing “a challenging and uncertain environment” due to the COVID-19 pandemic and its impact on the economy. He said the bank is taking “decisive actions” to adapt to the changing conditions and position itself for long-term growth. He did not provide details on how many jobs will be affected by the restructuring, but said the bank will offer support and transition assistance to the impacted employees.

TD’s disappointing earnings contrast with the strong performance of its peers, such as Royal Bank of Canada, Canadian Imperial Bank of Commerce, Bank of Montreal and National Bank of Canada, which all beat analysts’ estimates and raised their dividends in the fourth quarter. TD was the only one of the Big Six banks that did not increase its dividend, keeping it at 79 cents per share.

Labels:

Comments

Post a Comment