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TD shares down after reports it’s nearing settlement with U.S. regulators

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TORONTO – Shares of Toronto-Dominion Bank were down in early trading following reports the bank is nearing a settlement with U.S. regulators regarding failures of its anti-money laundering safeguards.

Multiple media reports said the bank will pay billions in financial penalties as well as face non-financial sanctions that will put limits on its growth in the U.S.

TD has said it will hold a conference call later today, but did not offer details regarding what the call would be about.

The Canadian bank has been working to resolve investigations into failures in its anti-money laundering program in the U.S.

The probes have been a major overhang for the bank and helped scuttle its proposed US$13.4-billion acquisition of U.S. bank First Horizon Corp.

TD shares were down $5.78, or about 6.6 per cent, at $81.33 by late morning on the Toronto Stock Exchange.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:TD)

The Canadian Press. All rights reserved.



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Trudeau applauds Thailand for legalizing gay marriage during meeting at ASEAN summit

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VIENTIANE, Laos – Prime Minister Justin Trudeau has congratulated the prime minister of Thailand for her country’s recent move to legalize same-sex marriage.

Trudeau made the comments during a bilateral meeting with Thailand’s new prime minister Paetongtarn Shinawatra while attending the Association of Southeast Asian Nations Summit hosted this year in Vientiane, the capital of Laos.

The prime minister held back-to-back meetings with Asian leaders for much of the day.

Trudeau said that at a time when rights are backsliding around the world, Shinawatra’s leadership on gay marriage is “exceptional.”

Thailand’s landmark marriage equality bill was officially written into law Sept. 24, allowing same-sex couples to legally wed.

Trudeau’s attendance in Laos marked the third consecutive time he has participated in the ASEAN summit, reflecting a push by Canada for closer ties with countries in the Indo-Pacific region.

This report by The Canadian Press was first published Oct. 10, 2024.

– With files from The Associated Press.

The Canadian Press. All rights reserved.



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Calgary Flames have ‘no quit’ mentality as season begins: Backlund

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VANCOUVER – The Calgary Flames were already preaching the importance of resilience a single game into the NHL season.

The bend-but-don’t-break mentality paid off Wednesday when the Flames rallied from an early three-goal deficit and edged the Vancouver Canucks 6-5 in overtime.

“That’s kind of the mentality we have to have all year, is we’re going to go down a bit, or we’re going to get knocked down, but we’re always going to keep coming back and, just building shift by shift, brick by brick,” said centre Connor Zary.

Zary scored the game-winner 92 seconds into overtime.

Calgary appeared poised for a loss midway through the first period Wednesday.

Trouble began 7:41 into the matchup when Canucks centre J.T. Miller slammed Kevin Rooney into the boards, leaving the Flames forward lying still on the ice.

A scrum erupted behind the Flames’ net and, once punishment had been doled out, Vancouver had a power play.

Daniel Sprong scored with the man advantage and Vancouver added two more goals in less than three minutes.

Newcomer Anthony Mantha got Calgary on the board with a short-handed goal.

In his first regular-season game for the Flames, the bruising winger — who signed a one-year, US$3.5-million deal July 1 — completed the Gordie Howe hat trick with a fight and an assist.

Despite his tally, Vancouver went into the first intermission up 4-1.

The Flames needed to stay out of the penalty box in the first period, said Flames defenceman MacKenzie Weegar.

“It was just penalty problems. And I think the hit took us away from our game a bit,” he said. “But I like how we responded. (Rooney) is one of our best buddies and we love him, and he’s all good. But we stuck up for him in there, and we rallied for him tonight.”

The first period saw 30 minutes worth of penalties handed out, including 19 to the Flames.

Head coach Ryan Huska told his players after the first period to calm down.

“I felt like we played a panic period. We didn’t have a lot of composure, and it resulted in all the power plays,” he said. “But I’m really happy that they stuck with it and didn’t go away, and we found a way to get a couple points.”

With the Canucks’ net empty, Miller levelled the score 5-5 with 97 seconds left on the game clock to force overtime.

The Flames weren’t troubled, Zary said.

“Even when they scored that goal, someone yelled on the bench ‘Hey, it doesn’t matter boys. Let’s go right back at them,'” he said.

Zary, Mantha, defenceman Rasmus Andersson and centre Martin Pospisil each scored and had an assist for Calgary.

Weegar and Jonathan Huberdeau also scored, while Nazem Kadri added a pair of assists.

After allowing four goals on 15 shots in the first period, Flames goalie Dan Vladar stopped nine of the next 10 he faced.

Brock Boeser scored twice for the Canucks, while Miller had a goal and an assist. Conor Garland and Sprong rounded out the scoring, and Arturs Silovs made 20 saves.

Vancouver made the game hard on themselves, said captain Quinn Hughes, who posted two helpers.

“I’m not sure how many leads like that we blew last year, so it’s not a characteristic of ours,” he said. “But saying that, we definitely have work to do to clean that up, and I’m looking forward to doing that.”

Calgary missed the playoffs last season after finishing with a 38-39-5 record. Expectations were low for a younger, overhauled roster this season.

“There’s no quit,” Flames captain Mikael Backlund said. “We believe in ourselves, and we’re going to fight till the end. So no matter who the opponent is, we’re going to go out every night and try and win games.”

This report by The Canadian Press was first published Oct. 10, 2024.

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22-time Grand Slam champion Rafael Nadal will retire from tennis after next month’s Davis Cup finals

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MADRID (AP) — Rafael Nadal is retiring from professional tennis at age 38, he announced in a video message Thursday, after winning 22 Grand Slam titles — 14 at the French Open — during an unprecedented era he shared with rivals Roger Federer and Novak Djokovic.

Nadal has competed infrequently the past two seasons because of injuries and said next month’s Davis Cup finals will mark his farewell to the sport. He had hip surgery in 2023 and entered just two of the past eight major tournaments.

“The reality is that it has been some difficult years, these last two, especially. I don’t think I have been able to play without limitations,” Nadal said. “It is obviously a difficult decision, one that has taken me some time to make. But in this life, everything has a beginning and an end.”

Nadal’s unrelenting, physical style of play — every point pursued as though it were his last, sprinting and sliding into place for that high-bouncing bullwhip of a lefty forehand — made him one of the greats of the game and the unquestioned King of Clay, the slow, red surface on which he dominated.

His record 14 French Open championships are more than anyone, man or woman, won at any one of the sport’s four major tournaments, a dominance celebrated by a statue of Nadal that stands near the main entrance to the grounds of Roland Garros and in the shadow of its main stadium, Court Philippe Chatrier.

In a result that symbolized where things stood for his body, and career, he exited in the French Open’s first round this year, a straight-set loss to eventual runner-up Alexander Zverev.

Nadal returned to that site in southwest Paris for the Summer Olympics, where he lost to old rival Djokovic in the second round of singles and reached the quarterfinals of men’s doubles with Carlos Alcaraz.

Nadal hasn’t played since. His goodbye will also come while representing Spain, at Malaga in the Davis Cup.

In addition to his French Open triumphs, he won four trophies at the U.S. Open and two apiece at Wimbledon and the Australian Open, giving him a career Grand Slam.

“I think it is the appropriate time to put an end to a career that has been long and much more successful than I could have ever imagined,” Nadal said.

His last pair of major titles arrived in 2022, at Melbourne in January and at Paris in June, pushing him ahead of Federer, who held the men’s record of 20 Grand Slam titles when he announced his retirement at age 41. Federer bid adieu in late 2022 by teaming with Nadal in a doubles match at the Laver Cup.

Both have since been surpassed by Djokovic, 37, who is up to 24 majors.

So much of Nadal’s success was seen, fairly or not, through the prism of his encounters with Federer and Djokovic. The tennis world, and plenty outside of it, were consumed with the debate over which was most deserving of the “GOAT” — “Greatest Of All-Time” — moniker. The world, tennis or otherwise, was fascinated by their matchups, their differing styles and personalities.

Who among those who witnessed it could possibly forget Nadal vs. Federer in the 2008 Wimbledon final? Or Nadal vs. Djokovic in the 2022 French Open quarterfinals? Or Nadal vs. Djokovic in the 2012 Australian Open final? And so on.

Nadal played Djokovic 60 times, a record for two men in the Open era; Djokovic leads 31-29 overall, while Nadal leads 5-4 in Slam finals. Nadal met Federer 40 times; Nadal leads 24-16 overall, including 6-3 in Slam finals.

“Thank you for the unforgettable memories and all your incredible achievements in the game we love,” Federer told Nadal via social media.

It’s certainly apt that Nadal’s last major title came at the French Open (beating Djokovic along the way) two years ago, and while getting painkilling injections for chronic pain in his left foot. He repeatedly dealt with, and frequently overcame, various injury issues over the years, and his 2023 and 2024 seasons were both limited because of hip and abdominal muscle problems.

Nadal hurt his hip flexor during a second-round loss at the Australian Open in January 2023, and wound up missing the rest of the year; there was an operation for that in June.

After briefly making a comeback this January during a tuneup event for the Australian Open, he had to pull out of the year’s first major with a torn hip muscle, then was sidelined again until a return on his beloved clay at the Barcelona Open in April.

Dating to late in 2022, when he was beaten in the fourth round at Flushing Meadows by Frances Tiafoe, Nadal is just 14-14, including 12-7 this year.

But his overall resume is unimpeachable: a total of 209 weeks at No. 1 in the ATP rankings and nearly 18 years’ worth of consecutive weeks in the Top 10; 92 singles titles; 1,080-227 win-loss record; just shy of $135 million in prize money.

“Really, everything I have experienced has been a dream come true,” Nadal said. “I leave with the absolute peace of mind of having given my best, of having made an effort in every way.”

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Fendrich reported from Philadelphia. Associated Press writers Joseph Wilson and James Ellingworth contributed to this report.

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