Canada’s financial intelligence agency says it has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S. The penalty by the Financial Transactions and Reports Analysis Centre of Canada follows on a $7.5-million fine against RBC and a $1.3-million fine against CIBC announced in December. The agency, known as Fintrac, says it imposed the penalty against TD for a range of failures including not submitting suspicious transaction reports when there was r

Bank of Canada governor Tiff Macklem says Canadian interest rates don't have to match U.S. or global rates, but there is a limit to how much they can diverge. Macklem made the comments while testifying before the House of Commons finance committee today. The governor says Canada is nowhere close to the limit when it comes to how much Canadian and American interest rates can differ. The Bank of Canada is widely expected to begin lowering its policy rate in the coming months, while forecasters expect the U.S. Federal Reserve to take longer. The Federal Reserve held interest rates on Wednesday an

A group of students at the University of Toronto say they have started a protest on campus to call on the university to cut its ties with Israel over the ongoing war in Gaza. The students say in a news release that they breached a newly-installed fence around an area on campus known as King's College Circle to establish an encampment in solidarity with the Palestinian people. They say they are joining students at other universities in the United States and Canada in setting up encampments to call on their schools to disclose their ties with the Israeli government and divest from Israeli compan

NDP Leader Jagmeet Singh says his party will support the federal budget, ending any speculation that the party could pull out of its deal with the minority Liberal government. Singh says his party wanted time to digest the budget, but is ultimately voting in favour of it because of shared initiatives that it proposes. That includes creating a national school lunch program and providing free birth control and diabetes medicine for anyone with a health card. The Conservatives and Bloc Québécois have previously said they wouldn’t support the budget. The minority Liberals needed the support of

Conservative MPs want House of Commons Speaker Greg Fergus to resign after ejecting their leader and not Prime Minister Justin Trudeau during a heated debate Tuesday. The Conservatives say Fergus did not apply the rules equally during a tense back and forth between Trudeau and Conservative Leader Pierre Poilievre. Poilievre was kicked out of the chamber after he called Trudeau a "wacko prime minister" and refused Fergus's request to withdraw the remark. The insult was hurled as Poilievre pressed Trudeau to agree to British Columbia's request to amend a Health Canada provision decriminalizing p

Organizers of the seven FIFA World Cup soccer matches coming to Vancouver in 2026 say the estimated cost of hosting the event has more than doubled in the last two years. The latest estimates put the price tag at between $483 million and $581 million, including costs for the city, the province and stadium upgrades. The province says the event is expected to generate enough revenue to result in a net cost of between $100 million and $145 million.

Speaker Greg Fergus kicked Conservative Leader Pierre Poilievre out of the House of Commons during question period today. All Conservative MPs have left the chamber in protest after Fergus gave Poilievre multiple chances to withdraw comments calling Prime Minister Justin Trudeau a "wacko" and an "extremist."

Two grandparents and their infant grandchild were killed on a busy stretch of Highway 401 on Monday night after a van being chased by police east of Toronto crashed while going the wrong way, causing a multi-vehicle collision. The crash – which also left the person in the suspect van dead raised questions about the police pursuit that had been triggered by an alleged liquor store robbery, as Ontario's police watchdog began its investigation into what happened. "It was a really big collision scene, and we're still trying to get to the bottom of how many vehicles, how were they involved, where

Immigration Minister Marc Miller says international students will be able to work off-campus up to 24 hours per week starting in September. The Liberals temporarily waved the 20-hour cap on work hours for international students during the COVID-19 pandemic in a bid to ease labour shortages. That waiver expires tomorrow. The work hours limit will return to 20 hours per week until September when the government can implement a permanent change to make it 24 hours. There are no limits on the number of hours international students can work when school is on break during the summer and during winter