Toronto Telegraph
TorontoTelegraph.com Saturday 4th September 2010 Volume 2010/3507
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"This historic moment comes at a time of great uncertainty for many Americans. We have now been through nearly a decade of war. We have endured a long and painful recession. And sometimes in the midst of these storms, the future that we are trying to build for our nation - a future of lasting peace and long-term prosperity - may seem beyond our reach"
Barack Obama
US President Obama was making a national address Tuesday to mark the end of the combat mission in Iraq

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$£€ United States, Dollar Euro Canada, Dollar Japan, Yen United Kingdom, Pound
United States, Dollar - 0.775 1.038 84.38 0.647
Euro 1.289 - 1.339 108.8 0.834
Canada, Dollar 0.962 0.746 - 81.22 0.623
Japan, Yen 0.011 0.009 0.012 - 0.007
United Kingdom, Pound 1.544 1.198 1.604 130.3 -

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Earl, now a tropical storm, bears down on Atlantic Canada
Bud Grant returns to Canada as part of Eden Prairie's trip to Winnipeg
High-profile list receives Order of Canada
Canadian soccer captain on verge of record

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Canadian honour for M.S. Swaminathan
Canadian senators to visit India
Canadian Arctic waters trap fuel tanker
Another new world order
Ottawa transit bus, SUVs collide on Queensway
Ottawa police net 10 arrests with downtown 'bait bike' project
Alouettes drop 1st home game in 14 starts

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MARYLAND HEIGHTS > City OKs lease for recreation complex
UMSL punished over coach's link to fantasy sports operation
Go Greek with pork kabobs
Turning the cottage into a home

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Economic recovery in N.America slipping: Bank
Despite reports from the US Thursday that initial jobless claims fell to 472,000 last week and pending home resales were up 5.2 per cent in July, Canada's top Toronto Dominion (TD) Bank said the economic recovery in North America is slipping after positive hints four months...

Canadian, Indian experts join hands to tackle Haemophilia
The Bleeding Disorders Program in Winnipeg, Canada and the Haemophilia Society (Delhi) are jointly organising an International Symposium on haemophilia on September 4 and 5 at the LPS Auditorium, PHD House, August Kranti Marg, Hauz Khas, New...
Regina-based StorageVault Inc. brings PUPS to Canada
Alan Simpson is president and CEO of Regina-based StorageVault Inc., a mini-storage business that has brought the PUPS product to the Canadian...
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Food shortage crisis building in many developing countriesFood shortage crisis building in many developing countries
As natural disaster batter the world's agricultural industry, fears are growing that we may be heading into the dark food crisis days of 2007 and...

No deaths following quake, a miracle, say New Zealand officialsNo deaths following quake, a miracle, say New Zealand officials
Christchurch residents are taking stock of the damage to their city following the major earthquake that struck in the early hours of Saturday morning with local officials calling the lack of fatalities a...
Plane goes down in UAEPlane goes down in UAE
A plane has crashed in the United Arab Emirates in the city of Dubai, it is unknown how many...
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Wall Street continues upward trendWall Street continues upward trend
The Dow Jones rose more than 100 points Friday, the third day of gains for the key...

Sexual harassment claims lead to big settlement in USSexual harassment claims lead to big settlement in US
A $5.8 million sexual harassment settlement will be paid by a building maintenance firm in the...
Large-sized Mini to hit the streetsLarge-sized Mini to hit the streets
The Mini family is about to get a new member with the upsized Countryman...
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bullet Economic recovery in N.America slipping: Bank corner

Despite reports from the US Thursday that initial jobless claims fell to 472,000 last week and pending home resales were up 5.2 per cent in July, Canada's top Toronto Dominion (TD) Bank said the economic recovery in North America is slipping after positive hints four months ago.

'Does the world look as good as it did four months ago? No, it doesn't really,'' TD Bank CEO Ed Clark told the media after announcing the results for the third quarter.

He said he was also 'less optimistic'' about the Canadian economy than four months ago, indicating that current low interest rates in North America will continue, taking into account 'how long and slow the recovery in the U.S. is going to be.''

But Canada's second largest posted a higer (third-quarter) profit of $1.18 billion, up 29 percent from the same period last year.

The bank CEO attributed the higher profit to higher personal and commercial lending despite slump in capital-markets operations.

'Our third quarter results really tell the growth story of our retail businesses on both sides of the border, with our total adjusted retail earnings hitting a new high of $1.3 billion, up 21 percent from last year,'' the Canadian bank CEO said.

'Wholesale Banking earnings continued to normalize, performing in line with expectations despite tougher markets in the quarter. We also saw the best credit quality and lowest credit losses in seven quarters across all of our businesses,'' he added.

Meanwhile, the gains by the top Canadian bank helped the Toronto Stock Exchange (TSX) maintain its positive streak for the seventh straight day Thursday.

The TSX composite index rose 107.31 points to close at 12,111.09, with financial, metal and energy sectors being the gainers.

The stock of BlackBerry maker Research In Motion (RIM) - which has slipped almost 18 percent during the month - also rose very marginally to close at $46.50.

(Gurmukh Singh can be contacted at gurmukh.s@ians.in)


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    NHL OKs Kovalchuk's 2nd deal with Devils
    Report: NHL, NHLPA agree to new rules
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    Janet Jackson eying independent music career
    Motherhood has affected film choices, says Alba
    My life is a disaster: Drew Barrymore
    Affleck ashamed of his own directorial debut film
    Snoop wants to reteam with Katy for next album

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    With the departure of US combat troops from Iraq, is the Iraq war now over?


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    Le Meridien Noumea, New Caledonia
    Le Meridien Noumea, New Caledonia

    This deluxe hotel is reputedly the finest in New Caledonia. The drive from Tontouta international airport is 45 minutes and...


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