F inance Minister Jim Flaherty Thursday rejected calls from some of his peers for global taxes on bank bonuses, saying his government is not interested in imposing punitive taxes on a prized sector of the Canadian economy. Mr.

T he statement seems innocuous enough, but it’s who’s making it that draws attention. In the midst of its semi-annual Financial System Review, released Thursday, Bank of Canada analysts write that the stock market may be overvalued. “While indicators point in different directions, various measures, such as forward price-earnings ratios, suggest that equity prices may have increased by more than warranted in the context of an expected slow recovery,” the Bank of Canada said

It’s too soon to tell if Elin Nordegren Woods and Tiger Woods will be able to repair their marriage, but advisers say Ms. Woods is taking control of her financial situation — an important step whether the marriage survives or not.

ING today stepped up its multicultural outreach efforts by hiring a slate of new executives hailing from Latin America. The company today named Andres Vargas Escobar, vice president of multicultural sales operations; Juan Pablo Troncoso Philippi, manager of sales support; Nydia Monarrez Lozano, manager of sales support; and Erika Contreras Escobar, a business coordinator. Previously, Mr.

G oldman Sachs Group Inc. GS-N ’s top executives will not receive cash bonuses this year, as the Wall Street giant bows to sharp criticism over its pay practices. The 30 high-ranking executives will instead receive stock that cannot be sold for at least five years, the New York-based bank said Thursday

T oday’s top stories from Report on Business : Stocks may be overvalued, central bank says It may not have quite the ring or import of “irrational exuberance,” but the Bank of Canada warned today that stock prices may be overvalued and could fall if corporate earnings don’t hold up. The central bank said in its review of the financial system that the recent rally in stock prices has been at least partly fuelled by better-than-expected corporate results in the second and third quarters of the year. It noted in the semi-annual report that 70 per cent of S&P 500 companies topped expectations in the second quarter, and, among those reporting third-quarter results by Nov

F inance Minister Jim Flaherty Thursday rejected calls from some of his peers for global taxes on bank bonuses, saying his government is not interested in imposing punitive taxes on a prized sector of the Canadian economy. Mr. Flaherty said he expects Canadian banks will comply with international rules aimed at encouraging more responsible bonus schemes, but ruled out calls from Britain and France to expand those rules to include a tax on bonuses.