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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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Carney and Xi Signal Thaw in Canada-China Relations After Landmark Meeting

                                       Prime Minister Mark Carney and Chinese President Xi Jinping

Prime Minister Mark Carney declared a “turning point” in Canada-China relations following his first formal meeting with Chinese President Xi Jinping in nearly a decade. The two leaders met on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, marking the most significant high-level engagement between the two countries since 2017.

During the nearly 40-minute bilateral discussion, Xi extended an official invitation for Carney to visit China, a gesture widely seen as a step toward repairing strained ties. If accepted, it would be the first official visit by a Canadian prime minister to China since Justin Trudeau’s attempt to launch trade talks eight years ago.

Carney described the meeting as “very constructive,” emphasizing that it opened the door to pragmatic dialogue on trade irritants and broader cooperation. While no immediate breakthroughs were announced on contentious issues—such as Chinese tariffs on Canadian canola, seafood, and pork, or Canada’s restrictions on Chinese electric vehicles—the prime minister stressed that the encounter created “a path to address current issues.”

The meeting comes after years of frosty relations, marked by disputes over trade, technology, and human rights. Analysts suggest that both sides are motivated by economic necessity: Canada is seeking to diversify its trade partnerships amid global uncertainty, while China is looking to stabilize ties with Western economies as it navigates slowing growth.

Xi highlighted the “long history of cooperation” between the two nations and expressed optimism about future engagement. His invitation to Carney signals Beijing’s willingness to re-engage at the highest political level.

Though challenges remain, the symbolism of this meeting is significant. It suggests that Canada and China may be entering a new phase of cautious re-engagement, with opportunities for progress in trade, agriculture, and climate cooperation.

For now, Carney’s declaration of a turning point reflects both optimism and realism: while the road ahead may be complex, the willingness to talk marks a notable shift from years of silence.


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