A fraction of the global economy moving to a bitcoin standard will create a ripple effect
Former Canadian prime minister Stephen Harper recently suggested bitcoin could become a reserve currency alongside the U.S. dollar. Now a business adviser with Harper & Associates consulting, he had a caveat: bitcoin still lacks a key money feature, that being a store of value. In contrast to fiat currencies, bitcoin has done little but rise…
Crackdowns fail to recognize that alternative lenders are the last hope for Canadians shut out of the traditional lending market
The media often portray alternative lenders as slippery, unethical loan sharks who exploit the poor. When targeting the sector and not just a few bad apples, such stories are easy, cheap hit jobs. New Brunswick Sen. Pierrette Ringuette, for example, recently described alternative loans to CBC Marketplace as “an abusive financial process that needs to…
One day, you’re an unshakable fan of a company; the next day, you’re warning complete strangers to stay away
The relationship between customer and company is a delicate thing. One day, you’re an unshakable fan of a company; the next day, you’re warning complete strangers to stay away. Here are three examples of customer service and how it can go so right – or so wrong. Many years ago, my Telus internet went out.…
Scotiabank launches nationwide scholarship supporting future lawyers tackling systemic discrimination and creating change
Students in the University of Alberta’s Faculty of Law who are invested in combatting racism and promoting inclusivity will have more opportunities to put their passion into practice thanks to a new Scotiabank scholarship program. The Scotiabank Program for Law Students launched nationwide recently with the goal of increasing the number of future lawyers who are tackling…
The cryptocurrency genie is out of the bottle and there is no going back
Among the many races the pandemic has accelerated, none is so pointless as the issuance of central-bank digital currencies. The Canadian government, which should know better, has jumped into the fray despite earlier opposition. Reversing comments made in February 2020, Bank of Canada deputy governor Timothy Lane now believes state involvement in cryptocurrencies is a…
BMO has a long history of investing in sports teams in Canada
I’ve always said that we could only be as successful at BMO as the communities in which we lived and worked. And a key part of that community building was done through our growing corporate sponsorship of sports. Supporting local teams and venues became a major part of enhancing our identity in cities and regions…
Trudeau government siding wth traditional banking over the interests of small companies looking to survive the pandemic
By Paz Gómez Research associate Frontier Centre for Public Policy The Liberal government has blocked financial technology (fintech) companies from distributing aid to businesses affected by the pandemic. In the age of cryptocurrencies and investment services like Robinhood, the government clings to banks and relics such as cheques by mail. PayPal, Wave and the Canadian…
If you give lip service to treating people well and then treat your team poorly, don’t expect your clients to receive anything different
Like most people (at least 62 per cent, according to a 2019 study by Hello Products), I don’t like going to the dentist. However, this was my week for getting a cavity checked and I headed to the dentist’s office. You know the routine: you get questioned and prodded by the dental assistant as she…
Hedge and private-equity funds, mortgage lenders, and money-market funds provide accessible sources of credit
By Paz Gómez Research associate Frontier Centre for Public Policy Shadow banking is growing by leaps and bounds in Canada. It’s a C$1.5-trillion industry that expanded by 30 per cent between 2015 and 2017, according to a recent Bank of Canada report. The banking establishment fears a challenge to its power, but consumers benefit from greater…
We need tax reforms and other initiatives that will help spur entrepreneurial spirit and encourage investment
Canada is gradually losing its competitiveness – but it can be regained. According to the International Institute for Management Development (IMD), a graduate business school and research centre, we’re down three spots from 2018 to 13th. Canada is now ranked below the United States and Switzerland, as well as other energy-dominated nations such as Norway,…