Mining slowdown begins to hurt as Bay Street sheds jobs, firms

Posted by Boyd Erman, Jacqueline Nelson, The Globe and Mail

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A sustained downturn in Canadian capital markets claims its first big foreign victim Friday, as Stifel Financial Corp. shuts down its Toronto and Calgary operations and lets go of 60 people.

Businesses such as stock underwriting and trading have plunged, eating away at profits for investment dealers in Canada – particularly smaller ones – and forcing some firms to close or merge.

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