TD Bank calls staff back to office four days a week starting this fall, memo says
Executive-level staff at the bank will be required to work from the office at least four days a week starting October 6, while non-executive employees are expected to follow suit by November 3, said the memo from TD Bank Group's Chief Human Resources Officer Melanie Burns.
"Many locations will be ready to accommodate this change by November 3," Burns said in the memo.
After several years of supporting flexible work models following the COVID-19 pandemic, many companies are now encouraging employees to return to the office, arguing improved in-person collaboration as a key benefit.
In recent months, peers such as the Bank of Montreal (BMO.TO), opens new tab and the Royal Bank of Canada (RY.TO), opens new tab have made similar steps.
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Reuters
13 minutes ago
- Reuters
Morning Bid: 'Tariffs - use this version, please'
A look at the day ahead in European and global markets from Stella Qiu: It is tariff deadline day and President Donald Trump delivered by slapping fresh levies on imports from dozens of countries, including those that do not have a trade deal yet. Rates were set at 35% for Canada, 25% for India, 20% for Taiwan and 19% for Thailand. Switzerland got a whopping 39% -- one of the steepest -- raising the question: what's Trump got against the Swiss? Not buying enough American chocolate or watches? The big day comes after months of posturing, meetings, delays and truces, which prompted some investors to question what was a real threat and what was a bluff. Indeed, there is still much to be resolved. Arguably, most levies are lower than those threatened on April 2, which back then sent markets into a tailspin. Plus the big trade deals with Japan and the European Union have been reached while talks with China and Mexico are still ongoing. That is probably why market reaction this time has been much more muted. Sure, most Asian shares fell, but only modestly. South Korea is an exception, tumbling over 3%, in part due to domestic tax cuts being rolled back. Taiwan's president said the 20% levy is only temporary and is expected to be reduced further when a deal is reached. Wall Street and European shares did not seem to be too bothered by the tariff news. EUROSTOXX 50 futures slipped 0.3%. Both Nasdaq futures and S&P 500 futures fell 0.2%, thanks to a 6% tumble in Amazon (AMZN.O), opens new tab after its earnings failed to meet lofty expectations. Now, with the tariff news out of the way, euro zone flash CPI is due later in the day and expectations are for a slight easing to 1.9% in July from 2.0% in annual terms. Markets have only priced in half a cut from the European Central Bank by early next year. And then it's all about waiting for payrolls, which will be pivotal for hopes for a rate cut from the Federal Reserve in September, which is now priced at just 40%, way off 75% a month ago. Forecasts are centred on a 110,000 rise in July, while the jobless rate likely ticked up to 4.2% from 4.1%. Any upside surprises could price out the chance of a move next month, giving dollar bulls another reason to rally. The greenback is headed for the best week - with a gain of 2.5% against its peers - in nearly three years, solidifying its recent uptrend from a three-year low. It has found support from a hawkish Fed that has held off policy easing on tariff risks. And indeed, the Fed's preferred gauge of inflation came in a tad hotter overnight, showing some tariff impact. Key developments that could influence markets on Friday: -- Euro zone flash CPI for July -- U.S. payrolls for July, ISM Manufacturing survey Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here.
The Guardian
43 minutes ago
- The Guardian
Millennial women were told to chase our dreams. That's left us burnt out, broke and dreaming of a rich patron
A couple of weeks ago, I came across an Amy Poehler joke in which she sums up the different generational experiences of money: 'Boomers are all about money. Gen X is like: 'Is it all about money?' Millennials ask: 'Where is the money?' And gen Z is like: 'What is money?'' It made me laugh – but it also hit a nerve. It felt painfully accurate and oddly comforting. Maybe it's not just me. I'm a millennial, and financial insecurity has been a theme in my life for a while. But recently, it's grown louder, and I literally can't stop asking: 'WHERE IS THE GODDAMN MONEY?' I used to ask nicely. After all, I was raised to be a grateful, polite millennial – the kind who believed that magic always happens outside your comfort zone and therefore did unpaid internships in her 20s and sent thank-you emails after being underpaid. But no more. Hence the capital letters. I'm raging. Maybe it's because I'm approaching 40. Maybe it's because I keep comparing myself with my parents, who by this age had two kids, a car, a house, a garden and three holidays a year. I'm not just raging. After 15 years of working non-stop, I'm exhausted. And there are days when I ask myself: is it really meant to be this way – or am I just failing? Am I simply not grownup enough when it comes to money? I know the answer isn't that simple – or that harsh. Because usually, after days spent examining my shortcomings, I also think: no, this can't just be personal failure. Maybe the odds were never in my favour. Millennial women like myself were told to work hard and follow our passion. Because if you work hard and find something you're good at, it'll pay off. It doesn't, though. The path I've chosen – creative, independent – offers very little in the way of long-term security and when I look around, a pattern emerges. Over dinner recently with three friends – two men and one woman, all about my age – we started talking about money worries. The woman, a talented sculptor, said she had been feeling deeply anxious. She thought it was partly hormones, but more than that, it was existential. She was considering retraining, maybe going into teaching – anything to build a more stable life. At one point, she turned to me and asked: 'How do you do it?' I said: 'I juggle three things at once.' Meanwhile, the two men nodded sympathetically. They work in the arts – but both have full-time jobs and permanent contracts. One just bought a plot of land. The other has tenure. The women are freelancers. The men are secure. Is it our fault? Couldn't we just do what they did? I don't think so. Our economic system doesn't just undervalue women's work. It depends on it. It relies on our flexibility, our unpaid labour, our creative output, our willingness to 'make it work'. It assumes women will absorb the risk, subsidise culture and care with their own time, energy and savings. In creative industries, this is especially stark: women are expected to be grateful to be there at all. To work 'for exposure', for the opportunity – not the paycheque. And that gratitude has kept us quiet, compliant – and broke. This is no accident – it's systemic. In Germany, women across all age groups earn less, save less and live longer. If you're single and self-employed, you're automatically walking a financial tightrope with no net and you'll likely belong to the 70% of working women today who are at risk of poverty in old age. (Recent data from the German Federal Statistical Office reports that the gender gap in retirement income amounts to 29.9%.) I can't believe I'm saying this out loud, but it feels like the only safety net is a rich spouse. When I told my friend a few days ago that I prefer dating artists, she threw up her hands: 'No! You need to find a hedge fund manager!' I thought of that meme – 'I'm looking for a man in finance' – and rolled my eyes. But she wasn't wrong. A wealthy and steady partner is the most reliable pension plan for many women. I don't want a husband, though. What I secretly long for is a patron. The 18th-century kind. Someone who says: 'I believe in your work. Go write. Don't worry about anything.' Or, more realistically: universal basic income. And a proper educational system for the next generation of women. One that teaches them how to handle money, so they don't fall into the same trap. Seriously: can someone explain to me why we didn't learn about compound interest, mortgages, tax brackets and pensions in school? Isn't financial literacy a basic part of education, if the goal is to raise well-equipped adults? Sign up to This is Europe The most pressing stories and debates for Europeans – from identity to economics to the environment after newsletter promotion I've worked my heart out for more than a decade. I've built a body of work I'm proud of. And yet, I still get nervous opening my banking app. Still avoid deep financial talk. Still don't fully understand the German tax system. I fell for the silly belief that talking about money is obscene. Sometimes I want to slap myself for not having made smarter choices. For not having planned, protected myself by investing or talking to experts. Instead, I kept dreaming about a life filled with interesting encounters, stories, intellectually stimulating conversations. And honestly, there's still a part of me that cherishes that softness. To be a European millennial now – in our late 30s – means witnessing the erosion of the ideals we grew up with, yet still holding on to something tender. Maybe naive. Maybe vital. We were promised a lot and trained for little. And perhaps this vulnerability – this capacity to imagine a different, less materialistic world – is not only a weakness. It might be a strength, of a playful sort. In Istanbul, my current place of residence, people buy gold. I own some gold jewellery – some pieces were gifts, others inherited. I don't like most of them and rarely wear them. But with gold prices soaring, I've been looking at them differently. Gold is finite, after all, which means it keeps its value. Unlike stocks. My plan: take these items to a friend in the Grand Bazaar who deals in gold. There's something almost magical about the idea of turning my few rings and necklaces into gold plaques – a quiet stash I can cash in quickly, to be kept in a velvet pouch that would look like a fairytale treasure chest. A reminder of how much I'm still clinging to a world of fantasy. And maybe that's the whole trick. Keep going. Keep improvising. Because our boomer parents told us to follow our passion. And now? We're melting down our jewellery. Carolin Würfel is a writer, screenwriter and journalist who lives in Berlin and Istanbul. She is the author of Three Women Dreamed of Socialism
BBC News
an hour ago
- BBC News
Trump raises Canada trade tariff to 35%
US President Donald Trump has raised the tariff on Canada to 35%, escalating a trade war with one of Washington's key economic decision, contained in an executive order, increases the rate from 25% and will come into effect at 00:01 US East Coast time (05:01 BST) on 1 said Canada had "failed to cooperate" in curbing the flow of fentanyl and other drugs across the US border, something Prime Minister Mark Carney insisted earlier this month his country was making "vital progress" president also announced sweeping tariffs on dozens of countries on Thursday, as he continued his drive to remake how global trade operates. As the clock ticked towards Trump's deadline to strike trade deals, he announced goods from Mexico would be charged at current rates for another 90 days, avoiding a threatened increase to 35%. However senior White House officials said their Canadian counterparts were less constructive in negotiations than Mexico, prompting the 35% tariff on that levy remained due to come into effect from midnight US East Coast time on Friday, countries affected by the so-called "reciprocal" tariffs would have seven days before they kick that are loaded onto ships by 7 August and those that are already in transit will also not be affected by the rates if they reach the US before 5 by the White House, the orders leave most goods coming into the US facing new taxes of between 10% and 50%.Few nations have been spared in the latest list of tariff rates. Even small economies like Vanuatu and Papua New Guinea in the Asia-Pacific region were issued 15% not mentioned on the list face baseline duties of 10%. Follow live coverage hereHow much cash is the US raising from tariffs? The tariffs, which are a tax on imports, hit Asian countries major trading partners in the region - India and Taiwan - were hit with levies of 25% and 20% President Lai Ching-te said the levy was only "temporary", vowing to complete talks with Washington for a land-locked South East Asian nation Laos is facing the second-highest rate in this round of tariffs. At 40% it sits just behind Syria's unenviable 41%.A day earlier, Trump reached a deal with South Korea, imposing a 15% tariff on its imports in return for investment in the US and other concessions. Economists and financial analysts have warned that the new levies will raise prices for businesses and consumers in the US and weigh on the economy, predictions that the Trump administration has House press secretary Karoline Leavitt told reporters on Thursday that Trump was "proving the so-called economic experts wrong at every turn"."What we are watching is President Trump rebuilding the greatest economy in the history of the world," she said. Follow BBC's coverage of US tariffs ANALYSIS: How much cash is the US raising from tariffs?EXPLAINER: What tariffs has Trump announced and why?CONSUMERS: Six things that will get more expensive for Americans The escalation of the tariffs had been telegraphed for months, starting when Trump unveiled sweeping "reciprocal" tariffs in April, saying they would rebalance global trade flows and reduce America's trade deficit - the gap between what it buys and sells abroad. The measures added to separate levies targeting key sectors such as steel, aluminium and cars. After turmoil in financial markets, he suspended some of the most punishing measures, inviting countries to negotiate, while leaving in place a 10% duty on most products. More than 200 countries reached out to the White House in the months following, according to Trump administration officials, though some struggled to get officials ultimately reached rough "framework" agreements with eight trade partners, including the UK, China, Japan and European Union, which set tariff rates in exchange for promises of investment in the US or other key aspects of those agreements remain unresolved. Talks with other countries, such as India ended without terms. Trump has said India will face a 25% levy on its goods, plus an unspecified "penalty" for its dealings with Russia. Up until nearly the last moment, many countries were still waiting word on what new tariff rates the administration had settled a post on social media, Swiss President Karin Keller-Sutter said she had a last-minute phone call with Trump, which ended without an accord. "The trade deficit remains a central concern of his," she wrote. Switzerland ended up with a 39% tariff.
