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Big Bank Earnings Wrap: What RBC and CIBC Reveal About Your Mortgage

  Royal Bank and CIBC reported record or near-record profits before the market opened Thursday, closing out a jam-packed bank earnings week that also included BMO, Scotiabank and National Bank. Beyond the headline numbers, though, the details tucked into these reports say a lot about where mortgage rates, lending standards and household credit stress are actually heading — and it's a more reassuring picture than a lot of the tariff-and-tension headlines this month might suggest. RBC: Record Profit, Credit Quality Barely Budged Royal Bank of Canada posted net income of $6.0 billion for the quarter ended July 31, up 11% from a year earlier and a record for the bank. Diluted earnings per share came in at $4.23, up 13% year-over-year, while return on equity climbed to 17.9%. The number worth watching for anyone with a mortgage isn't the profit line — it's the provision for credit losses (PCL), the money banks set aside for loans that might go bad. RBC's total PCL was $1.0 b...
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Raging Wildfire Engulfs Jasper, Alberta: A Perfect Storm of Destruction

 

In a devastating turn of events, a wildfire that began 12 kilometers away from Jasper, Alberta, transformed into an unstoppable force, leaving firefighters powerless. The inferno, fueled by relentless winds gusting up to 100 kilometers per hour, created a 100-meter-tall wall of fire that consumed buildings within the townsite. 

Scientists attribute this catastrophe to a trifecta of factors: prolonged drought, dense forests filled with dead lodgepole pine trees, and strong winds that funneled the fire toward the town. The situation in Jasper is dire, with potentially 30% to 50% structural damage. Authorities are now faced with the daunting task of rebuilding a community that has been ravaged by this natural disaster. 


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