Scotiabank urges Ottawa to delay merger decision

Article Abstract:

Bank of Nova Scotia Chairman Peter Godsoe is urging the Ottawa government to delay decisions on bank mega-mergers until it has outlined plans for revamping the whole financial services sector. Godsoe made the statement during a Senate committee hearing, in which he likewise supplied a point-by-point counter argument of his rival's case for planned consolidation. Godsoe further stated that the government should not hand a decision on the mergers until it has provided answers to the 124 recommendations included in a report compiled by a task force chaired by Harold MacKay that tackles the future of financial services.

Comment:

Its chrmn urges Ottawa govt to delay decisions on bk mergers until it has outlined plans for revamping whole financial sector

Commercial Banks, Commercial Banking, Ontario, Bank of Nova Scotia (Canada), Article

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Economy big concern for G8 leaders

Article Abstract:

Leaders from the Group of Eight, who represent Canada, the United Kingdom, France, Germany, Italy, Eussia, Japan and the United States, have agreed to launch new measures aimed at stimulating the lagging global economy. The leaders primary concern was the prospect of deflation.

France, Political activity

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G8 heads foresee late-year growth

Article Abstract:

A new World Trade Organization agreement is being drafted by leaders of the G8 conference to spur the lagging global economy. U.S. President George W. Bush backed a strong dollar and played down recent U.S. corporate governance scandals.

Canada, Conferences, meetings and seminars, Economic aspects, Bush, George W., World Trade Organization

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