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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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Regional Tensions Erupt as Iran Strikes Back After Massive Assault

 

              The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz

Iran launched a series of retaliatory strikes on military bases and naval vessels across the region following what officials in Tehran described as the most intense wave of attacks on its territory in years. The escalation marks one of the most dangerous moments in the ongoing confrontation, raising fears of a broader conflict that could destabilize the Middle East.

According to regional sources, Iran targeted multiple sites linked to foreign forces, including positions believed to support recent operations against Iranian infrastructure. While the full extent of the damage remains unclear, early reports suggest both sides sustained losses, and several governments have begun urgent diplomatic consultations.

Iranian officials framed the response as a necessary act of self‑defense, insisting that continued pressure would be met with “decisive and proportional” action. Meanwhile, international observers warn that the cycle of retaliation risks spiraling beyond the control of any single actor.

As governments call for restraint, analysts note that the coming days will be critical in determining whether the situation cools or accelerates toward a wider confrontation.


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