Five things you should know before starting your work day
Good midweek morning! The housing market may not see a spring in its step with the mortgage stress test left as is. And the price of rentals, to which many wannabe homebuyers are resorting, may not be rising as fast as some report. Scotiabank’s Q1 results missed expectations, but it raised its dividend.
former dispensary operator is suing Ontario over the “arbitrary” and “unlawful” cannabis retail lottery. The owner of Cannabis & Coffee is suing for $1.1 million in damages he claims he spent in preparing to become a retailer, before Ontario’s abrupt decision to cap the number of licences at 25 left him out both money and future sales. Vanmala Subramaniam reports that new — and inexperienced — retailers are often affiliated with giant cannabis companies who didn’t win.
Scotiabank reported first-quarter results that missed earnings estimates. Profit slipped 4% to $2.25B from $2.34B a year earlier, while net income of $1.75 per diluted share was down from $1.87 a year ago. The bank hiked its dividend by 2¢ to 87¢ per share. Here’s what CEO Brian Porter had to say. BE NICE TO LANDLORDSWilliam Watson parsed recent rate hikes for the truth behind the “rental crisis.
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