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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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Australia Slams Trump’s Drug Tariffs as Blow to Fair Trade

                                        Australian health minister Mark Butler 

Australia has sharply criticized U.S. President Donald Trump’s decision to impose a 100% tariff on imported branded pharmaceuticals, calling the move “unfair and unjustified.”

Health Minister Mark Butler said the tariffs risk harming both Australian exporters and American consumers, noting that Australia already imports far more pharmaceutical products from the United States than it exports. “It is not in the American consumers’ interest to impose a higher price on the exports from Australia to America, particularly given the degree to which their exporters to Australia benefit from free trade as well,” Butler said.

The new tariffs, set to take effect October 1, will apply unless pharmaceutical companies are actively building manufacturing plants in the U.S. The policy has rattled Australia’s healthcare sector, with shares in major biotech firms like CSL falling in response.

Canberra has vowed to continue defending its Pharmaceutical Benefits Scheme (PBS), which caps medicine prices domestically, despite pressure from U.S. pharmaceutical interests. Trade officials are in talks with Washington to clarify the scope of the tariffs and their potential impact on Australia’s $2 billion pharmaceutical export industry.

The dispute adds to growing trade tensions as Trump expands his protectionist agenda, with tariffs now spanning industries from heavy trucks to kitchen cabinets.


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