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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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France's Bold Move: Recognition of Palestinian State Sparks Global Tensions

 

French President Emmanuel Macron has announced that France will formally recognize the state of Palestine this September at the United Nations General Assembly, a decision that has ignited fierce backlash from Israel and the United States.

Macron’s Vision for Peace

In a letter to Palestinian Authority President Mahmoud Abbas, Macron emphasized France’s historic commitment to a “just and lasting peace in the Middle East.” He stated, “True to its historic commitment... I have decided that France will recognise the state of Palestine”. France, home to Europe’s largest Jewish and Muslim communities, will become the first major Western power to take this step, potentially influencing other nations to follow suit.

International Reactions

  • Israel: Prime Minister Benjamin Netanyahu condemned the move, calling it a “reward for terror” and warning that a Palestinian state under current conditions would be a “launch pad to annihilate Israel”. Defense Minister Israel Katz labeled the decision “a disgrace” and vowed to resist any efforts that could compromise Israeli security.

  • United States: Secretary of State Marco Rubio strongly rejected the plan, stating it “serves Hamas propaganda and sets back peace,” and described it as “a slap in the face to the victims of October 7th”.

  • Canada: Prime Minister Mark Carney criticized Israel’s handling of the humanitarian crisis in Gaza and reiterated support for a two-state solution, urging all parties to negotiate a ceasefire in good faith.

Diplomatic Momentum

Macron’s announcement comes ahead of a ministerial-level UN conference co-hosted by France and Saudi Arabia, aimed at reviving the two-state solution. The original summit was postponed due to regional tensions and U.S. pressure, but France hopes its recognition will galvanize international support.

Palestinian Response

Palestinian Authority Vice President Hussein Al Sheikh praised France’s decision, saying it reflects “France’s commitment to international law and its support for the Palestinian people’s rights to self-determination”.


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