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Global Banks Facing Job Cuts and Profit Misses
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Financial Challenges and Job Cuts
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Global banks face job cuts and profit misses as economic challenges persist. TD Bank and RBC beat profit estimates, while CIBC and British banks miss targets due to higher loan provisions and job cuts. The Canadian economy is grappling with central bank rate hikes, rising deposit costs, and delinquency rates.
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How might the job cuts and profit misses impact the stability and growth of the global banking industry?
What are the potential implications of the ongoing investigation into TD Bank's compliance with anti-money-laundering rules?
What strategies can banks employ to navigate the challenges posed by central bank rate hikes and rising deposit costs?
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