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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...

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Beijing Promises Countermeasures as U.S. Tariffs Escalate Global Economic Tensions

 

Beijing has vowed to respond with decisive countermeasures following U.S. President Donald Trump’s latest round of tariffs on Chinese imports, further deepening an already strained trade relationship. In a statement released by China’s Ministry of Commerce, the government condemned the tariffs as “unilateral” measures that violate established World Trade Organization rules and exacerbate economic stress. Beijing announced that it would file a formal complaint with the WTO and take “corresponding countermeasures” to safeguard its legitimate rights and interests .

Trump’s administration justified the new tariffs as a necessary response to alleged unfair trade practices, including claims that China was insufficiently curbing the flow of fentanyl precursors and other issues tied to intellectual property theft. While U.S. officials argue that these measures are essential to protect American industries and rebalance the trade deficit, critics warn that the tariffs risk further destabilizing global supply chains and could lead to higher prices for consumers .

Although China’s statement did not detail the specific retaliatory actions it might take, analysts predict that Beijing’s response could target a wide range of U.S. exports—from electronics to agricultural products—potentially igniting a broader trade dispute. The escalating tit-for-tat actions have already raised concerns among market observers that ongoing tensions may not only impact bilateral trade but could also have far-reaching implications for the global economy.

As both superpowers brace for potential further escalation, experts emphasize the urgent need for renewed dialogue to de-escalate tensions and work toward a mutually beneficial resolution .


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