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BMO hikes dividend amid Q2 profit rise hampered by severance costs

BMO hikes dividend amid Q2 profit rise hampered by severance costs

TORONTO — The Bank of Montreal's strong contributions from its U.S. business in its second quarter were not enough to satisfy expectations due to severance costs — a move that the lender expects to generate millions of cost savings in the long run.
CMHC first-quarter earnings increase to $394 million despite dip in revenues

CMHC first-quarter earnings increase to $394 million despite dip in revenues

OTTAWA — Canada Mortgage and Housing Corp. says its net income increased to a more normalized rate in the first quarter as the country's economy continued to modestly improve.

Caisse de depot fires four Otera subsidiary executives after investigation

MONTREAL — The Caisse de depot et placement du Quebec has fired four senior executives, including the chairman and chief executive of its mortgage financing subsidiary Otera Capital following an in-depth internal investigation of ethical breaches.
Central bank holds rate as it balances domestic economic pickup with trade risks

Central bank holds rate as it balances domestic economic pickup with trade risks

OTTAWA — The Bank of Canada left its key interest rate steady Wednesday as it looked to balance mounting evidence of a domestic economic pickup against the expanding risks of international trade conflicts.
Morningstar Inc. buying debt-rating agency DBRS for US$669 million

Morningstar Inc. buying debt-rating agency DBRS for US$669 million

TORONTO — Morningstar Inc. has signed a deal to buy Canadian debt-rating agency DBRS for US$669 million. The U.S. company says the combination of DBRS with Morningstar Credit Ratings' U.S. business will expand its global asset class coverage.

Union says lockout notice for B.C. port workers 'reckless' and 'irresponsible'

VANCOUVER — A spokesman for the association that employs longshoremen at British Columbia ports says the workers will be locked out on Thursday if a negotiated settlement is not reached. Jeff Scott, chairman of the B.C.