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Evening Update: The U.S. rebuffed B.C.’s pleas to shore up a key dike for $29-million. Now, flood damage will hit $1-billion [Toronto Globe and Mail (Ontario, Canada)]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Good evening, let’s start with today’s top stories: The floods that have devastated farmers and homeowners in Abbotsford are a product of record rainfall and many failures by leaders in Canada to adequately prepare, including a lack of maintenance of key dike systems in B.C. But they also mark the most severe consequence of a long-standing breakdown in international co-operation around the Nooksack, which normally flows only through the U.S., but whose flood waters pose a particular threat to Canada. To keep the Nooksack from flooding at Everson, which is 9.5 kilometres from the Canadian border, the estimated cost would be considerably less than that $1-billion damage bill: just $29-million to install a levee extension. Build that, and structural and agricultural damages to the Abbotsford area in the worst possible flooding would be cut by more than $500-million, according to a flood mitigation plan delivered to the city of Abbotsford last year. But despite years of anger over the ina Show less Read more
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