Denis Ricard, President and CEO of iA Financial Group, to speak at NBF's 15th Annual Quebec Conference
Denis Ricard, President and CEO of iA Financial Group, will participate in a fireside chat as part of NBF's 15 th Annual Quebec Financial Services Conference on Wednesday, June 4, 2025, at 2:00 p.m. (ET).
A general presentation of iA Financial Group for investors is available on the company's website at ia.ca/about-us, and documents relating to our most recent financial results are also available at ia.ca/investorrelations, under Financial Reports.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).
iA Financial Group is a business name and trademark of iA Financial Corporation Inc.
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CTV News
20 minutes ago
- CTV News
Bank of Canada head Tiff Macklem says mandate should evolve in a ‘shock-prone' world
Bank of Canada Governor Tiff Macklem takes part in an interview at the Bank of Canada in Ottawa on Wednesday, June 4, 2025. THE CANADIAN PRESS/Sean Kilpatrick OTTAWA — Tiff Macklem is wearing an Edmonton Oilers pin as he reflects on coming very close to beating big odds. It's a significant day for the governor of the Bank of Canada: he's just laid out his reasons to the entire country and a global audience for keeping the central bank's benchmark interest rate steady for a second straight time. That night is also Game 1 of the NHL's Stanley Cup finals; Macklem ends his press conference with a hearty 'Go Oilers!' It's a rematch from last year's heartbreak, when the Oilers came oh-so-close to mounting a seemingly impossible four-game comeback against the Florida Panthers, only to fall short by a single goal in Game 7. Macklem, too, was almost safe to declare victory last year. He had just about secured a coveted 'soft landing' for Canada's economy — a rare feat that sees restrictive monetary policy bring down surging levels of inflation without tipping the economy into a prolonged downturn. 'We got inflation down. We didn't cause a recession,' Macklem said in an interview with The Canadian Press after the rate announcement Wednesday. 'And, to be frank, until President (Donald) Trump started threatening the economy with new tariffs, we were actually seeing growth pick up.' Fresh out of one crisis, the central bank now must contend with another in U.S. tariffs. Five years into his tenure as head of the Bank of Canada, Macklem said he sees the central bank's role in stickhandling the economy — as well as Canada's role on the world stage — evolving. Many Canadians have become more familiar with the Bank of Canada in recent years. After the COVID-19 pandemic recovery ignited inflation, the central bank's rapid tightening cycle and subsequent rate cuts were top-line news for anxious Canadians stressed about rising prices and borrowing costs. That was all in pursuit of meeting the central bank's inflation target of two per cent, part of a mandate from the federal government that's up for review next year. Macklem said the past few years have led the Bank of Canada to scrutinize some of its metrics, like core inflation and how it responds to supply shocks in the economy. But he defends keeping the bank's inflation target, particularly at a time of global upheaval. 'Our flexible inflation targeting framework has just been through the biggest test it's ever had in the 30 years since we announced the inflation target,' he said. 'I'm not going to pretend it's been an easy few years for anybody. But I think the framework has performed well.' Macklem said, however, that he sees room to build out the mandate to address other areas of concern from Canadians, such as housing affordability. Whether it's the high cost of rent or a mortgage, or surging prices for groceries and vehicles, Macklem said the past few years have been eye-opening to Canadians who weren't around the last time inflation hit double digits in the 1980s. 'Unfortunately, a whole new generation of Canadians now know what inflation feels like, and they didn't like it one bit,' he said. Monetary policy itself can't make homes more affordable, he noted — in a nutshell, high interest rates make mortgages more expensive while low rates can push up the price of housing itself because they stoke demand. But Macklem said one of the things he's reflecting on is that inflation can get worse when the economy isn't operating at its potential or when it's facing great disruption. 'There is a role for monetary policy to smooth out some of that adjustment — support the economy while ensuring that inflation is well-controlled.' He didn't offer suggestions on how the mandate might expand to address housing affordability specifically, but said 'the work is ongoing' and will be settled in meetings with the federal government next year. Right now, he's trying to make sure that the economic impacts from Canada's tariff dispute with the United States don't result in prolonged inflation. The Bank of Canada is not alone in debating how monetary policy ought to respond in what Macklem called a more 'shock-prone' world. The G7 Finance Ministers' Summit in Kananaskis, Alta., last month also featured roundtables with the bloc's central bankers. Conversations at the summit were 'candid,' Macklem said, and though the nations issued a joint statement at the close of the event, that doesn't mean they agreed on everything. 'International co-operation, to be honest, has never been easy. It is particularly difficult right now, but that doesn't make it less important. That makes it more important,' he said. 'I do think Canada, as the chair of the G7, has a leadership role to play.' The Bank of Canada is also changing the way it has conversations with Canadians and the kind of data it considers. A day after the June interest rate decision, deputy governor Sharon Kozicki told a Toronto business crowd how the central bank is using data more nimbly, relying heavily on surveys and more granular information to make monetary policy decisions in an uncertain time. These sources offer a faster way to see what's happening on the ground in the economy than traditional statistical models allow. Macklem said the central bank would previously have dismissed most supply shocks as transitory — likely to pass without the need for central bank adjustments, such as rising and falling oil prices. But he said the Bank of Canada needs to be running a more 'nuanced playbook' now to respond to some increasingly common shocks: supply chain disruptions, trade conflicts and extreme weather to name a few. An overheating economy running up against a supply disruption is the kind of inflationary fire Macklem is trying to avoid in this latest crisis. 'The economy does not work well when inflation is high,' he said. 'And the primary role of the Bank of Canada is to ensure that Canadians maintain confidence in price stability. That's all we can do for the Canadian economy. That's what we can do for Canadians. And that's what we're focused on.' Later in the day on Wednesday, the Edmonton Oilers took Game 1 of the Stanley Cup finals. The Canadian team was down but roared back to win 4-3 in overtime. It's still early in the Bank of Canada's response to the latest global shock. But with any luck, Macklem's team might also get a leg up with lessons learned the last time they faced big odds. This report by The Canadian Press was first published June 7, 2025. Craig Lord, The Canadian Press
CTV News
an hour ago
- CTV News
Why a Manitoba landmark is closed for its 50th anniversary
An iconic Manitoba landmark that's celebrating its 50th anniversary this year is closed for the season due to a need for structural repairs. Grant's Old Mill is a replica flour mill that has stood on Portage Avenue near Sturgeon Road for decades. Former Premier Ed Schreyer opened the mill in 1975 as part of Winnipeg's centennial celebrations. Over the years, it's become a historical museum and a destination for school trips and visitors. It's also a functioning mill where Manitobans can watch a demonstration of how flour is milled. According to Kelly Ryback, a board member for the St. James Assiniboia Pioneer Association which oversees the mill, the replica was built in 1974. It features a sluice, which is a sliding grate to control the flow of water, and a wheel. 'When the water was running through the sluice, the wheel would turn, but that wheel does not turn stones,' he explained. 'There's an electric motor that turns the stones allowing it to mill the grain.' However, things are shifting as the mill reaches its 50th birthday milestone, which will celebrate an important figure of Manitoba's past. Grant's Old Mill The interior of Grant's Old Mill in Winnipeg, Man. (Kelly Ryback/St. James Assiniboia Pioneer Association) The history behind the mill Grant's Old Mill may have opened in the 1970s, but its history dates back over a century. The site is a replica of a mill built in 1829 by Métis leader Cuthbert Grant and serves as a place to honour his contributions to the province. Grant is hailed by many as the founder of the Métis nation. He was appointed captain general of the Métis people by the Northwest Company, and then in 1816, he led his nation to victory against Hudson's Bay Company governor Robert Semple in the Battle of Seven Oaks. '(This battle is) the first time that we flew under the infinity flag,' said Laura Forsythe, assistant professor at the University of Winnipeg in the faculty of education. 'We fought against the oppressive, colonial government trying to enforce a series of laws onto the people here who are Métis.' Grant's legacy continued in 1829 when he created the first water-powered mill in Western Canada. 'The mill itself in 1829 was a failure,' Forsythe said. 'It just never really took off, and Grant actually ended up relocating the grinding stones to Grantown, which we now know as St. Francois Xavier, and it was used in that location for years.' Forsythe noted that historians don't view the mill as a 'total failure' because it's seen as an important historical landmark, adding that it was the first instance of hydro use in the Red River settlement. Why the mill is important Forsythe said for the last 50 years, Grant's Old Mill has reminded Winnipeggers of those who came before us and served as a symbol of belonging to the Métis people. 'Right in Winnipeg, we get to see a slice of Canadian history.' She added that Grant is a bit of an 'unsung hero' to Manitoba, and it's important for more people to recognize all he has done. 'This mill helps everyday Winnipeggers and everyday Canadians know a little bit more about the legacy of the Métis nation and all of the folks who helped it come to be,' she said. Grant's Old Mill An image of a painting of Cuthbert Grant at Grant's Old Mill in Winnipeg, Man. (Kelly Ryback/St. James Assiniboia Pioneer Association) Why the mill is closed Though it's celebrating 50 years in 2025, the mill is closed to the public this summer as it's in need of repairs. According to Ryback, the mill's sluice has been wiped out by ice, the wheel is damaged and the stackable logs that form the walls are deteriorating. He noted the St. James Assiniboia Pioneer Association has known for years about the state of the mill, adding that the group has plans not only for reconstruction, but to enhance the destination and its programming for the future. Ryback expects the mill will be open again in 2027. 'It's a site that we want to have reconstructed, but then become of even greater enjoyment and use for the residents and tourists to enjoy,' he said. Despite the closure, the St. James Assiniboia Pioneer Association still has plans to celebrate the mill's 50th anniversary with an event on July 12. The celebration will include a full day of activities including a 50/50 draw, reenactors, games, musical performances, and a jigging contest.
CBC
an hour ago
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For $3.4M, you could own this southern Ontario drive-in movie theatre
After 37 years of showing movies under the stars, owner John D'Addetta of the Mustang Drive-In just outside Guelph, Ont., has decided it's time to sell. "I'm reaching 74 years old now and I think it's time to pretty well pack it in," said D'Adetta. "I enjoyed every minute of it. You know, I loved going out there, fresh air, you get to see a lot of people, a lot of friends." The Mustang Drive-In is one of 16 remaining drive-ins in Ontario and a total of 37 across Canada. The nearly five hectare property on Jones Baseline just east of Guelph is listed for $3.4 million. Robert Dickinson, a sales representative for Coldwell Banker Commercial Integrity Real Estate, says the location has been a cornerstone of community entertainment for many years. "It's just an opportunity for a new buyer to take over and operate a beloved business that's still well used by the community," Dickinson said. "You know there are not that many types of entertainment where you can bring the whole family and for an affordable price." Flicker of memories D'Addetta was already in the theatre business in the 1980s. He owned a movie theatre in downtown Oshawa when he had the opportunity to purchase the Mustang Drive-In and another drive-in movie theatre in Cobourg, east of Oshawa D'Addetta says since he took over, there have been a lot of technical changes at the Mustang. "We finally got rid of the outside speakers there, which were a pain in the you know where. People forgot that they had them on their windows, they'd drive off, ripping them off," D'Addetta said adding that resulted in "a lot of maintenance." "We finally got rid of that and we went and picked up our own FM frequency radio station, which improved the sound and everything else." D'Addetta says he was also happy to see the conversion from original film projectors, which made the change from what he calls the "fire hazard" Carbon Arc projector lamp to the Xenon bulb. Then that technology was replaced about seven years ago when movies went from film to digital. Now a feature-length film comes in a small hard drive that they ingest into the projector to show on the screen. Future of the property As more people move to communities throughout southern Ontario, including the Guelph area, there are questions about whether the drive-in could be converted into housing. But Dickinson says the property is currently zoned agricultural with a legal non-conforming use to operate a drive-in movie theatre. "Confirmation with the Township of Guelph/Eramosa would have to be undertaken by the buyer to any change of use," Dickinson said. "Its current use only states that a drive-in theatre can operate there. But there is opportunity to do other income streams including antique car shows, farmers markets and any sort of outdoor venue event permissible by the township." The Mustang Drive-In can fit between 400 and 500 cars on the property and it is currently open every weekend for the summer. D'Addetta says they've also worked to maintain a vibe that reminds people of when drive-ins were first introduced. "There's still the 1950s style diner. I have old clips at intermission of the bouncing hot dogs and all that stuff that's very cute," D'Addetta said. "Much more relaxed atmosphere. Again, you're in your own car. If you don't like the first movie, have a snooze and watch a second movie. We always show a double feature, long weekends or so, triple features."
