Posted 9/17/2023, 5:27:06 PM

BMO Eliminating Auto Finance Jobs, Indigo Founder Reisman Returns as CEO, Unifor-Ford Contract Expires Tonight, Shake Shack Tests New Healthier Fries

BMO winding down indirect retail auto finance business, which will lead to job losses
Indigo founder Heather Reisman returns as CEO after sudden resignation of previous CEO
Unifor contract with Ford set to expire tonight as union negotiates with automakers
Shake Shack testing new frying oil made from sugarcane to make fries healthier
Canada risks over $50 billion in clean tech investment if incentives not in place soon

yahoo.com

Relevant topic timeline:

8/28/2023

Hawaiian Electric Says Power Lines Not Responsible For Deadly Lahaina Fire, China Targets Stock Market Revival, FTC Pauses Legal Battle With Amgen's $28B Horizon Deal: Today's Top Stories

Walmart settles patent lawsuit regarding LED light bulbs; Renault plans IPO for electric vehicle unit in spring 2024; Credit Suisse posts $4 billion loss in Q2; Supreme Court reviews Purdue Pharma's proposed restructuring; U.S. government to negotiate drug prices; China unveils financial measures to revive stock market; SoftBank organizes AI tour for Indian entrepreneurs; Databricks in talks with T. Rowe Price for $43 billion valuation; XPeng partners with DiDi to boost smart EV adoption; Hawaiian Electric denies responsibility for Lahaina fires; BYD acquires Jabil's mobility business for $2.2 billion; Mallinckrodt files for second bankruptcy in three years; Bayer's cell therapy shows promise in Parkinson's study; GD Culture launches live-streaming e-commerce business on TikTok; BrightView appoints new CEO and receives $500 million investment; Baozun reports mixed Q2 earnings.

8/29/2023

BMO, Scotiabank miss profit estimates as bad loan provisions, costs rise

Canadian banks Bank of Montreal (BMO.TO) and Bank of Nova Scotia (BNS.TO) reported lower-than-expected quarterly profits due to increased provisions for bad loans caused by the Bank of Canada's interest rate hikes, which have slowed the housing market and increased consumer debt.

9/17/2023

BMO Winding Down Auto Finance Business, Leading to Job Losses

Bank of Montreal is winding down its retail auto finance business and focusing on other areas, resulting in job losses, after bad debt provisions in retail trade surged, indicating stress from rising borrowing costs.