News of the day: Air Canada's new CEO, IPOs fuel dealmaking, Big Banks sweet spot, early retirement planning, foreign property tax and more

It’s Wednesday, July 8. Here are the top stories we’re following today.

Air Canada taps Scandinavian Airlines exec as new CEO

Air Canada has appointed SAS Scandinavian Airlines’ current chief executive, Anko Van der Werff, to succeed Michael Rousseau chief executive.

IPOs help fuel $376 billion in Canadian dealmaking during the first half of 2026

Bankers and lawyers advising Canadian dealmakers are encouraged to see initial public offerings returning to Canada after a prolonged slowdown between 2022 and 2024, and they hope the enthusiasm generated by the high-profile deals in the U.S. encourages further activity north of the border.

Canada’s biggest banks are in a ‘sweet spot,’ but questions remain over how long it will last

Going into 2026, Fitch Ratings Inc. had a “deteriorating” outlook for the Canadian banking sector as the country grappled with declining economic growth and trade tension uncertainties, but that outlook was upgraded to neutral last month after Canada’s Big Six posted higher-than-expected profits during the first half of 2026.

Can Valeria, 53, with investments worth $1 million in RRSPs, TFSAs and GICs, retire in two years?

Valeria is well positioned financially to retire at 55, even though her lifetime pension income will drop sharply by taking early retirement, said Eliott Einarson, a retirement planner at Ottawa-based Exponent Investment Management.

CRA penalizes new immigrants who were late reporting foreign property

Canadian taxpayers who own, but fail to report, certain foreign property continue to get hit with harsh penalties from the Canada Revenue Agency for either non-filing, or late-filing, of the dreaded Form T1135, Foreign Income Verification Statement.