It was the last Saturday before Christmas, and all through the malls there were lots of people stirring about.
Business
Malls packed with last-minute shopping madness – Ottawa Citizen


Shoppers trundle about at the Tanger Outlets mall in Ottawa’s west end on Saturday.
Downtown shops and city shopping malls were packed with the predictable holiday hordes Saturday, with shoppers gripping their lists and checking them twice amid the last-minute madness.
But, above all the bustle, those weren’t silver bells, but rather cash register drawers that were jingling all the way.
Ottawa mall parking lots made for perhaps the most precarious parts of the trek, with the goodwill of the season the first thing to fly out windows with available spots in short supply.


Christmas shoppers at the Tanger Outlets mall in Kanata on Saturday.
Ashley Fraser /
Postmedia
A (slightly) more organized sort of chaos awaited indoors, as people laden with all manner of parcels darted in and out of shops, fuelled up at food courts and kept track of bored children while strategically avoiding the paths that would take them past the mall Santa and frantically texting friends and family to ensure no one else got Grampa the exact same sweater priced at 40 per cent off.
Thankfully, no serious incidents were reported.
Stay safe Ottawa.
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Business
BofA analyst calls Canadian bank stocks a ‘dicey proposition’
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BofA analyst Ebrahim Poonawala entitled a research report on Canadian banks.“Our meetings with bank management teams and industry experts during BofA’s annual Canada Banks Day painted a picture of a worsening macro-economic backdrop. BofA’s Economics team forecasts GDP growth decelerating to 0.8 per cent in 2024 (1.1 per cent 2023) with risks skewed to the downside.
“Our meetings with bank management teams and industry experts during BofA’s annual Canada Banks Day painted a picture of a worsening macro-economic backdrop. BofA’s Economics team forecasts GDP growth decelerating to 0.8 per cent in 2024 (1.1 per cent 2023) with risks skewed to the downside. In terms of fundamentals, an economy that is flirting with recession is likely to serve as a headwind to EPS growth and ROEs for banks while markets discount tail risk events stemming from higher for longer interest rates… A recurring theme during the day was expectations for increasing stress on unsecured lending and commercial, as borrowers begin to feel the impact from higher rates. Stagflation is the worst case scenario (=downside risks to our forecast), while our base case assumes that banks will muddle through what is likely to be an uncomfortable adjustment for the consumer to structurally higher interest rates … We forecast relatively anemic EPS growth 2.





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