Tausi Insider

For women and marginalized groups, going for after-work drinks with other employees isn't always comfortable. istock Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more. Not everyone wants to go for after-work drinks Since the days of Mad Men , going for after-work drinks with your co-workers and boss has long been seen as a way for company employees to network and bond. But as Sarah Micho writes, for women and other marginalized groups, this common social practice isn’t always inclusive. Employees may not drink for a variety of reasons, including religious or cultural beliefs, health and substance and abuse issues. Whatever the reason, the consequences of opting out may go beyond missing a social occasion. It can create barriers to professional growth and advancement, which is why it’s time for company leaders to rethi...

CIBC reported a shrinking net interest margin, falling seven basis points quarter-over-quarter. Fred Lum/Tausi Insider Nine months into a supercharged cycle of interest rate hikes, Canada’s largest banks are starting to benefit from higher loan margins. Canadian Imperial Bank of Commerce CM-T, however, is not, and confusion over why the lender is such an outlier is hitting its share price. For years, Canada’s banks have stressed that rising interest rates would not be disastrous for their bottom lines. Although their blistering loan growth would likely slow, executives said the lenders could make more money off each individual loan. As rates rise, loan margins – or the amount made per loan – tend to increase. That scenario is now playing out for heavyweights such as Royal Bank of Canada RY-T and Toronto-Dominion Bank TD-N. The lenders reported net interest margins – a measure of the difference between what it costs a bank to borrow money and the rate at which it lends that money out ...

After a bumper year of share buybacks and dividends, investors in debt-light Canadian oil and gas producers are set to reward shareholders even more in 2023 as they generate ample cash and show little appetite for acquisitions. Oil companies are facing faltering prices and Canadian firms are also absorbing an unusually punishing discount for their heavy-grade crude. BMO Capital Markets analysts estimate the top 35 companies will generate C$54 billion ($39.7 billion) in free cash flow in 2023, 16% lower than this year. But the portion of cash that flows to shareholders may be higher because companies will spend less on debt repayment, BMO’s managing director of oil and gas equity research Randy Ollenberger said. “We don’t see 2023 as being challenging for the sector given the improvement to balance sheets,” he said. Most large- and mid-size producers expect to be net-debt-free in the second half of 2023, according to BMO. Net debt represents a company’s gross debt minus cash and cash-...

Private businesses in Ukraine are in line to receive $2 billion in financing arranged by the International Finance Corp. to help rebuild the country’s agriculture and fuel import industries and other ventures, which have faced extensive losses because of the war. The IFC, a member of the World Bank Group, provides private sector financing to developing countries. The loans differ from the billions that Ukraine has received in grants and other forms of no-strings-attached aid from donor nations, as they must be paid back. Since Russia invaded in February, at least 5 million jobs have been lost, according to Ukraine’s Ministry of Economy. The National Bank of Ukraine estimates that 11% of businesses had closed as of September and more than half were operating below capacity. Loans to the country’s private sector will become more important in coming years as Ukraine’s finance ministry copes with a widening budget deficit. In addition, grants and other foreign aid are not guaranteed, and...

Canada's banking regulator says mortgage lending risks have increased considerably since the onset of the pandemic, and as a result they are proposing tougher lending rules. Justin Tang/The Canadian Press Canada’s bank regulator is proposing tougher lending rules that would make it even harder for borrowers to get a mortgage, after a spike in borrowing costs that has upended household budgets and ramped up risks to the banking system. Three proposals unveiled Thursday by the Office of the Superintendent of Financial Institutions (OSFI) would tighten underwriting rules for federally regulated banks, which already have the strictest standards among lenders. The regulator is considering limiting the share of highly leveraged borrowers a bank can have in its mortgage portfolio, toughening debt servicing metrics and bolstering the mortgage stress test for risky loans. If new rules are implemented, they would make it harder for borrowers to get a mortgage. But the current climate is al...

The U.S. Department of Energy on Friday announced a conditional loan of $700 million to an Australian mining company to pursue a proposed lithium project in Nevada, as the U.S. seeks domestic supplies for a key component in electric vehicle batteries. The move ups the ante in what’s already a high-stakes battle over President Joe Biden’s energy agenda and conservationists fighting to protect an endangered wildflower found only at the proposed mine site on a high desert ridge halfway between Reno and Las Vegas. Ioneer Ltd. has hoped to begin mining at Rhyolite Ridge by 2026 in Esmerelda County. The Energy announcement said the site could produce enough lithium to support production of about 370,000 electric vehicles annually for decades. The loan would be the latest project to demonstrate the Biden administration’s commitment to strengthen the nation’s battery supply chain, electrify the transportation sector and cut reliance on fossil fuels and foreign supplies of raw materials, the ...

Private businesses in Ukraine are in line to receive $2 billion in financing arranged by the International Finance Corp. to help rebuild the country’s agriculture and fuel import industries and other ventures, which have faced extensive losses because of the war. The IFC, a member of the World Bank Group, provides private sector financing to developing countries. The loans differ from the billions that Ukraine has received in grants and other forms of no-strings-attached aid from donor nations, as they must be paid back. Since Russia invaded in February, at least 5 million jobs have been lost, according to Ukraine’s Ministry of Economy. The National Bank of Ukraine estimates that 11% of businesses had closed as of September and more than half were operating below capacity. Loans to the country’s private sector will become more important in coming years as Ukraine’s finance ministry copes with a widening budget deficit. In addition, grants and other foreign aid are not guaranteed, and...