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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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Israel Signals Shift Away from Ceasefire Talks Amid Gaza Crisis

 

Israel Explores Alternatives as Ceasefire Negotiations Stall

Israeli Prime Minister Benjamin Netanyahu announced Friday that his government, in coordination with the United States, is considering "alternative options" to ceasefire talks with Hamas, following the withdrawal of both nations' negotiating teams from Qatar.

The move marks a significant shift in the diplomatic efforts to end the ongoing conflict in Gaza, where humanitarian conditions continue to deteriorate. Netanyahu echoed U.S. envoy Steve Witkoff's assessment that Hamas showed a "lack of desire" to reach a truce, calling the group "the obstacle to a hostage release deal".

What Are the Alternatives?

While neither Netanyahu nor Witkoff elaborated on what these alternatives might entail, the rhetoric suggests a hardening stance. President Donald Trump added that Israel may need to "finish the job," implying a potential escalation of military operations.

Ceasefire Proposal Details

The proposed deal under discussion included:

  • A 60-day ceasefire
  • Release of 10 living hostages and 18 remains by Hamas
  • Exchange for Palestinian prisoners held by Israel
  • Increased humanitarian aid to Gaza
  • Continued negotiations for a permanent agreement

However, talks have been bogged down by key disagreements:

  • Hamas demands a full Israeli withdrawal and end to the war
  • Israel insists Hamas must disarm and relinquish power
  • Hamas has refused to surrender its weapons, though it has expressed willingness to leave power

Humanitarian Crisis Deepens

The situation in Gaza remains dire:

  • Over 120 deaths linked to malnutrition
  • Aid groups report severe food shortages, even among their own staff
  • Israeli strikes continue, with dozens killed in recent days

Next Steps?

Despite the withdrawal, Hamas claims negotiations may resume next week, suggesting the recall of delegations was a pressure tactic. Yet, Israel has not confirmed any plans to return to the table.

As international pressure mounts and humanitarian conditions worsen, the future of peace in Gaza remains uncertain.

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