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2024-10-06 | Bloomberg | Canadian Stocks Advance as U.S. Jobless Claims Trail Forecasts | Canadian stocks rose for a second day after the European Commission proposed coordinated action to aid the region’s banks and the U.S. reported a smaller increase in initial jobless claims than most economists had forecast. Ivanhoe Mines Ltd., which is building a copper and gold mine in Mongolia with Rio Tinto Group, s... |
2024-03-11 | Bloomberg | Sun Life CEO Bets on Private Loans | Sun Life Financial Inc. (SLF) , the second-largest group-benefits provider in North America, is financing toll roads and bridges to boost investment income and counter lower yields on publicly traded debt. The private loans are typically as much as C$250 million ($243 million), Sun Life Chief Executive Officer Dean Con... |
2024-09-21 | Bloomberg | Canada Stocks Erase Advance as RIM Tumbles; Energy Stocks Gain | Canadian stocks erased gains in the last hour of trading as a plunge in Research In Motion Ltd. (RIM) overshadowed gains in energy and mining shares. RIM plunged 7.4 percent after BlackBerry service was disrupted for some users outside of North America. Sun Life Financial Inc. (SLF) and Manulife Financial Corp. (MFC) f... |
2024-04-01 | Bloomberg | Indonesia Stocks Poised for 17% Annual Gain, Manulife Says | Indonesian stocks are poised for the steepest annual gain in three years as domestic consumption drives the fastest economic expansion in Asia after China , according to the country’s second-largest mutual fund manager. The benchmark Jakarta Composite Index (JCI) may advance as much as 17 percent this year, Alvin Patti... |
2024-09-19 | Bloomberg | Prudential Financial Says Fosun Venture Wins China Approval | Prudential Financial Inc. (PRU) , the second-largest U.S. life insurer, said the China Insurance Regulatory Commission granted approval for operations to begin at a joint venture with Fosun International Ltd. (656) The venture, called Pramerica Fosun Life Insurance Co., has registered capital of 500 million yuan ($79 ... |
2024-09-19 | Bloomberg | Oil Falls to Lowest Level in Six Weeks as Supplies Surge | Oil tumbled to a six-week low after U.S. crude inventories surged the most since March as production and imports rebounded from Hurricane Isaac. Futures decreased 3.5 percent after the Energy Department said supplies rose 8.53 million barrels last week, more than eight times what was projected in a Bloomberg survey. Im... |
2024-09-19 | Bloomberg | Korea Bond Insurance Drops Most in Asia After Upgrades | Insurance costs on South Korean government bonds are dropping at the fastest rate in Asia after credit-ratings companies upgraded the debt to the highest levels since the 1997 Asian financial crisis. The price investors pay to protect their holdings of the securities from default for five years declined 31 percent in t... |
2024-09-19 | Bloomberg | Direct Edge CEO Says Focused on Prospects as Independent Company | Direct Edge Holdings LLC is focused on expanding its business on its own, according to its chief executive officer, a sign that buyout talks that were reported in July may have cooled. The owner of two U.S. equity exchanges based in Jersey City, New Jersey, continues to review its capital market options, William O’Brie... |
2024-07-26 | Bloomberg | TransCanada Profit Rises as Bruce Nuclear Units Return | TransCanada Corp. (TRP) , the company proposing to build the Keystone XL oil pipeline, said second-quarter profit increased 34 percent as nuclear reactors in Ontario returned to service and power prices in Alberta rose. Net income rose to C$365 million ($355 million), or 52 cents a share, from C$272 million, or 39 cent... |
2024-09-26 | Bloomberg | Ameriprise Said to Near Deal for ING Asset Management Unit | Ameriprise Financial Inc. (AMP) , the Minneapolis-based insurer and money manager founded in 1894 , is in advanced talks to buy most of ING Groep NV (INGA) ’s asset management business in Asia, two people with knowledge of the matter said. The companies are still negotiating on price and an announcement may come in two... |
2024-03-30 | Bloomberg | Treasuries Drop a Second Quarter Amid Improving Economy | Treasury 10-year notes fell for a second quarter, the first back-to-back drop in two years, as investors sought higher-yielding assets amid improved economic data and a Federal Reserve pledge to maintain monetary stimulus. Yields on the benchmark securities reached 11-month highs as the U.S. unemployment rate unexpecte... |
2024-07-19 | Bloomberg | Wells Fargo Adds Shapiro as Kinross Hires Gill, Vlaad Says | Wells Fargo & Co. (WFC) added Stephen Shapiro as a managing director from BMO Capital Markets, where he was managing director and head of the agriculture and fertilizer group, according to Vlaad & Co., a Toronto-based financial-services recruiting firm. Other moves noted in the “Bill’s Buzz” weekly newsletter include: ... |
2024-07-19 | Bloomberg | State Street Profit Rises 16% on Global Equities Rally | State Street Corp. (STT) , the third-largest custody bank, said second-quarter profit climbed 16 percent as rising global equity markets lifted the value of the assets it oversees. Net income on an operating basis increased to $571 million, or $1.24 a share, from $494 million, or $1.01, a year earlier, the Boston-based... |
2024-07-19 | Bloomberg | Canada June Inflation Rate Quickens to 1.2% on Gasoline | Canada ’s inflation rate quickened for a second month in June as the prices of gasoline and automobiles rebounded. The consumer price index rose 1.2 percent from a year ago following a 0.7 percent gain in May. The core rate, which excludes eight volatile products, increased 1.3 percent after a 1.1 percent gain the prio... |
2024-03-21 | Bloomberg | Private Banks Sell Debt in Worst Quarter Since ’11: China Credit | Chinese high-yield dollar-denominated bonds are returning the least in more than a year as private banks react to a flood of debt supply and rising global interest rates by cutting holdings. Investors have gained 2.24 percent from the notes since Dec. 31, poised for the worst quarter since the three months ended Septem... |
2024-07-10 | Bloomberg | WTI Oil Surges to 15-Month High on U.S. Supply Decline | West Texas Intermediate crude surged to a 15-month high after U.S. stockpiles tumbled for a second week. WTI’s discount to Brent narrowed to less than $2 for the first time since December 2010. Oil advanced 2.9 percent after the Energy Information Administration said supplies fell 9.87 million barrels, three times as m... |
2024-08-03 | Bloomberg | Canadian Stocks Rise as Gold Producers Advance, Banks Rebound | Canadian stocks rose for the first time in three days as gold climbed to a record, boosting mining stocks, while financial companies rebounded on speculation the U.S. Federal Reserve may return to stimulus policies. Barrick Gold Corp. (ABX) , the world’s largest gold producer, increased 1.4 percent as the metal jumped ... |
2024-08-04 | Bloomberg | Canadian Stocks Fall as U.S. Dollar Surges, Oil, Metals Decline | Canadian stocks fell the most in 25 months, led by oil and metals producers, as commodity prices tumbled on a stronger U.S. dollar and concern the global economy is stalling. Suncor Energy Inc. (SU) , Canada ’s largest oil and gas producer, dropped 4.4 percent as crude erased its 2011 gain. Directory publisher Yellow M... |
2024-08-03 | Bloomberg | Great-West Lifeco Second-Quarter Profit Rises on Increased U.S. Earnings | Great-West Lifeco Inc. (GWO) , Canada ’s second-largest insurer, said second-quarter profit rose 16 percent on stronger earnings from U.S. operations. Net income climbed to C$526 million ($547 million), or 55 cents a share, from C$455 million, or 48 cents a year earlier, the Winnipeg, Manitoba-based company said today ... |
2024-04-08 | Bloomberg | Asian Stocks Rise on BOJ; China, Taiwan Fall on Bird Flu | Asian stocks rose, with the Nikkei 225 Stock Average climbing to a 4 1/2-year high after the Bank of Japan (8301) ’s unprecedented stimulus. Chinese and Taiwanese shares fell after more infections from a deadly new strain of bird flu. Toyota Motor Corp., the world’s biggest carmaker, gained 4.1 percent as the yen weake... |
2024-04-08 | Bloomberg | Hong Kong Stocks Under Pressure Near-Term, Manulife’s Li Says | Marco Li, Hong Kong-based portfolio manager at Manulife Asset Management, which oversees $238 billion globally, comments on the outlook for Hong Kong stocks in the wake of an outbreak of a new strain of deadly bird flu in China. “It’s tough because in investors’ minds a lot of people can remember SARS in 2003. There’s ... |
2024-04-08 | Bloomberg | Hong Kong Stocks Swing From Gains, Loss on Airlines | Hong Kong stocks swung between gains and losses as airlines rebounded after plunging last week amid an outbreak of a new strain of bird flu in China. Developers slid after a housing provident fund said Beijing raised down payments for some second-home purchases. Cathay Pacific Airways Ltd. (293) , Asia’s largest intern... |
2024-04-08 | Bloomberg | Indonesia Sells $3 Billion of Debt in 2013’s First Global Sale | Indonesia sold $3 billion of 10- and 30-year dollar bonds today, tapping the global market for the first time this year, according to a person familiar with the offering. The nation issued $1.5 billion of notes due April 2023 to yield 3.50 percent, said the person, who asked not to be identified because he’s not author... |
2024-11-23 | Bloomberg | World’s Biggest Jump in Volatility Revives Dim Sum: China Credit | Expectations for swings in the yuan climbed the most in the world in the past three months, sparking a rally in Dim Sum bonds as the central bank signaled a wider limit on daily exchange-rate moves. Three-month implied volatility for the currency offshore, a measure used to price options, jumped to 2.1 percent, from 1.... |
2024-07-17 | Bloomberg | Allstate to Sell Lincoln Benefit to Limit Risk | Allstate Corp. (ALL) , the largest publicly traded U.S. auto and home insurer, agreed to sell Lincoln Benefit Life Co. and will stop issuing fixed annuities at the end of this year as it seeks to limit risk at its life unit. Resolution Life Holdings Inc. will buy Lincoln Benefit for $600 million, Northbrook, Illinois-b... |
2024-12-04 | Bloomberg | JC Flowers Still Interested in Irish Life, Executive Says | JC Flowers & Co LLC, short-listed last year in Ireland’s shelved sale of Irish Life Group Ltd., is still interested in buying the nation’s largest life insurer, an executive at the U.S. investment firm said. “We remain interested to invest in Ireland and have followed Irish Life’s progress over the last year or so,” Ti... |
2024-12-04 | Bloomberg | Northern Illinois Offers Free Orange Bowl Tickets to Students | Northern Illinois University is giving free Orange Bowl tickets to students who make the trip to Miami for the Jan. 1 game against Florida State. Northern Illinois (12-1) will be the first school from the Mid-American Conference to play in one of college football’s Bowl Championship Series games. The Huskies averaged 1... |
2024-03-27 | Bloomberg | WTI Oil Rises to Five-Week High on Refinery Operations | West Texas Intermediate crude rose to a five-week high after a government report showed that U.S. refineries boosted operating rates, bolstering oil demand. Futures advanced 0.2 percent after the Energy Information Administration said refineries operated at 85.7 percent of capacity in the seven days ended March 22, up ... |
2024-09-17 | Bloomberg | Lowe’s Withdraws $1.8 Billion Proposal to Acquire Rona | Lowe’s Cos. (LOW) withdrew its unsolicited proposal to buy Quebec-based home-improvement retailer Rona Inc. (RON) after the offer for C$14.50 ($14.87) a share was opposed by Rona’s board and local politicians. Rona rebuffed Lowe’s request for permission to conduct due diligence and proceed with a friendly transaction, ... |
2024-09-17 | Bloomberg | CAW Moving Closer to Labor Accord With Ford Motor | The Canadian Auto Workers is concentrating on negotiations with Ford Motor Co. as the union looks to reach a deal that will set the outlines for agreements with General Motors Co. and Chrysler Group LLC and avoid its first strike against a U.S.-based automaker in 16 years. “We can clearly see the finish line, however w... |
2024-08-04 | Bloomberg | Oil Erases 2011’s Gains on Economy Concern | Crude oil wiped out all of its gains for 2011 and natural gas closed below $4 for the first time since March in New York as concern the global economy is weakening sent raw materials prices tumbling around the world. Twenty-one of the 24 commodities on the Standard & Poor’s GSCI Index declined slipped as a rout in equi... |
2024-08-04 | Bloomberg | BCE Second-Quarter Profit Beats Estimates on Smartphone Subscriber Gains | BCE Inc. (BCE) , Canada ’s second-largest wireless carrier, reported second-quarter profit that beat analysts’ estimates after luring smartphone subscribers with discounts. Profit excluding some items increased 10 percent to 86 Canadian cents (88 cents) a share, compared with the average estimate of 82 cents in a Bloom... |
2024-09-28 | Bloomberg | Mukherjee Cutting Bond Goal Boosts Demand to Four-Month High: India Credit | India’s combination of reducing targets for debt sales this fiscal year and opening its market to more foreign investment is driving demand at the nation’s bond auctions to a four-month high. The finance ministry received bids for 2.3 times the 40 billion rupees ($886 million) of 10-year debt on offer at a Sept. 24 sal... |
2024-07-19 | Bloomberg | Canadian Stocks Rise After U.S. Housing, Earnings Beat Forecasts | Canadian stocks rose, led by energy producers, after U.S. housing starts surged and companies including Mosaic Co. (MOS) beat analysts’ profit estimates. Canadian Natural Resources Ltd. (CNQ) , the country’s second- largest energy company by market value, gained 2.5 percent as crude oil advanced 1.6 percent. Teck Resou... |
2024-07-18 | Bloomberg | Canadian Stocks Fall as Banks Decline on European Debt Concern | Canadian stocks fell, led by financial and energy companies, as bank stress tests failed to reassure investors the European debt crisis will be contained and oil futures dropped. Bank of Nova Scotia (BNS) , Canada ’s third-largest lender by assets, declined 1.9 percent as financial stocks fell after the weekend passed ... |
2024-07-18 | Bloomberg | Manulife to Sell Life Retrocession Unit to Pacific Life | Manulife Financial Corp. (MFC) , Canada’s largest insurer, agreed to sell its life retrocession business to Pacific Life Insurance Co. The sale of the unit that provides insurance to reinsurance companies will result in an after-tax gain of about C$275 million ($286.7 million), Manulife said today in a statement. The T... |
2024-03-17 | Bloomberg | Canadian Stocks Gain as Oil Advances, Economic Data Strengthen | Canadian stocks rose for the first time in four days as oil prices advanced with continuing unrest in the Middle East and northern Africa and economic data from Canada and the U.S. showed a strengthening recovery. Suncor Energy Inc. (SU) , the country’s biggest oil and gas producer, gained 2.5 percent as crude climbed... |
2024-01-23 | Bloomberg | JPMorgan Sued by John Hancock Over Mortgage Securities | JPMorgan Chase & Co. was sued by Manulife Financial Corp.’s John Hancock Life Insurance unit, which accused the bank of fraud in connection with the sale of residential mortgage-backed securities. The lawsuit, filed today in New York state Supreme Court in Manhattan, seeks unspecified damages for losses of market value... |
2024-09-20 | Bloomberg | Birchcliff, Cenovus, Manulife, Taseko: Canadian Equity Preview | Shares of the following companies may have unusual moves in Canadian trading. Birchcliff Energy Ltd. (BIR CT): The Western Canadian oil and gas producer was cut to “hold” from “buy” at Canaccord Genuity Corp. Cenovus Energy Inc. (CVE CT): The oil company spun off last year from EnCana Corp. said its Foster Creek oil ... |
2024-09-20 | Bloomberg | Canadian Stocks Gain as Gold, Oil Advance; Manulife Rallies | Canadian stocks rose to a four- month high as gold and oil prices gained and Manulife Financial Corp. advanced after Desjardins Securities Inc. boosted its rating on the shares. Kinross Gold Corp., Canada’s third-biggest producer, climbed 2 percent as the metal rallied on speculation the U.S. Federal Reserve may consi... |
2024-10-07 | Bloomberg | Dollar Rebound Predicted by Most Accurate Forecaster: Currencies | Desjardins Group, a Canadian credit union that beat the largest banks as the third-quarter’s most-accurate currency forecaster, favors the dollar as U.S. growth outpaces Europe. Hendrix Vachon, an economist and currency strategist, said Desjardins expects the dollar to gain versus the euro and pound. That puts the firm... |
2024-10-07 | Bloomberg | Twitter’s Valuation Seen Exceeding $20 Billion After IPO | Twitter Inc.’s user growth is slowing and it shows no sign of turning a profit. Some fund managers say that’s not going to stop the microblogging service’s $12.8 billion valuation from treading higher. Much higher. The $12.8 billion figure is derived from the fair value that Twitter put on its shares in an initial publ... |
2024-10-07 | Bloomberg | Canadian Heavy Crude Strengthens as Seasonal Decline Overdone | Canadian heavy crude strengthened for the first time in four days on speculation that declines caused by a seasonal softening in demand were overdone. Western Canadian Select for November delivery rose 75 cents to $32.75 a barrel below U.S. benchmark West Texas Intermediate oil, according to Calgary oil broker Net Ener... |
2024-07-21 | Bloomberg | Canadian Stocks Climb on Reports of Profits, Europe Debt Plan | Canadian stocks rose for a third day as energy and financial shares rallied on better-than-forecast U.S. and Canadian earnings and speculation that Europe is making progress toward addressing the Greek debt crisis. Manulife Financial Corp. (MFC) , North America ’s fourth-biggest insurer, advanced 1.4 percent as Greek b... |
2024-05-14 | Bloomberg | Canada’s Banks Pursue Mobile Payments to Catch U.S., Europe | Canada ’s banks set guidelines to encourage the use of mobile phones for routine payments as the country’s financial services firms race to catch up with Europe and the U.S. on the technology. Canada’s six-largest lenders including Royal Bank of Canada (RY) , the biggest bank, as well as Credit Union Central of Canada ... |
2024-04-07 | Bloomberg | Great-West Says Japan Earthquake, Tsunami Costs Lead to $78 Million Loss | Great-West Lifeco Inc. (GWO) , Canada’s second-largest insurer, said it expects to post a first-quarter loss of about C$75 million ($78.2 million) after last month’s earthquake and tsunami in Japan. The loss is primarily related to claims on coverage sold to property and casualty reinsurers by London Reinsurance Group ... |
2024-07-29 | Bloomberg | TD Bank to ‘Rein in’ Costs as Demand Slows, Johnston Says | Toronto-Dominion Bank (TD) , the Canadian lender that doubled its branches over the past six years through a U.S. expansion, plans to cut expense growth by as much as half to offset a slowdown in its home market. Canada’s second-biggest bank plans to increase core expenses, which excludes costs for acquisitions and for... |
2024-11-22 | Bloomberg | Canada Stocks Fall as Manulife Drops on Downgrade; Suncor Slips | Nov. 22 (Bloomberg) -- Canadian stocks fell for the first time in four days as Manulife Financial Corp. declined after a share downgrade and the bailout of Ireland failed to eliminate concern over Europe’s debt crisis. Manulife, North America’s fourth-largest insurer, decreased 3.1 percent as financial companies droppe... |
2024-06-05 | Bloomberg | Semafo Shuns Quebec for Africa to Double Its Gold Output | The Quebec government plans to spend C$47 billion ($45 billion) to attract mining investment over the next 25 years. Benoit La Salle, a former aid worker who runs Montreal-based Semafo Inc. (SMF) , sees more opportunity in Africa and is braving military coups and mine invasions to drive the company’s expansion. “Africa... |
2024-09-29 | Bloomberg | Taylor Rule Gap With U.S. at 15-Year High Signals Rate Jump: Canada Credit | The gap in Canadian and U.S. benchmark interest rates is at a 15-year high based on the Taylor rule formula for determining optimal rates, signaling borrowing costs are poised to rise further in Canada. Using the Taylor rule, which measures inflation and output to estimate the ideal interest rate, the Bank of Canada’s ... |
2024-09-29 | Bloomberg | Canadian Stocks Rise as RIM, Oil Rebound; Manulife Declines | Canadian stocks rose for a second day as energy stocks gained after an unexpected drop in U.S. gasoline and distillate-fuel inventories and Research In Motion Ltd. rebounded from yesterday’s 2.6 percent drop. Canadian Natural Resources Ltd., the country’s second- biggest energy company by market value, advanced 1.5 per... |
2024-08-02 | Bloomberg | Indonesia Bonds Have Best Week in 18 Months as Yields Attract | Indonesia ’s 10-year bonds had their best week in 18 months on speculation yields near the highest level in more than two years lured investors. The yield on notes due 2023 exceeded 8 percent earlier in the week, the level that Deutsche Asset & Wealth Management and PT Manulife Asset Management said last month offered ... |
2024-10-09 | Bloomberg | Canadian Billionaire Desmarais of Power Corp. Dies at 86 | Paul Desmarais Sr., the Canadian billionaire who built one of the country’s biggest insurance and money-management fortunes after inheriting a fleet of buses in a mining town, has died. He was 86. Desmarais died last night, according to a statement today from Power Corp. (POW) of Canada , his Montreal-based holding com... |
2024-03-21 | Bloomberg | Canada Two-Year Bond Forecast: BN Monthly Survey | The following table shows economists’ forecasts for Canada ’s two-year note yield as surveyed by Bloomberg News from Mar. 11 to 17. All figures are as of the end of the quarter. ================================================================================ Time period 1Q 2Q 3Q 4Q 1Q 2Q 2011 2011... |
2024-11-25 | Bloomberg | Toronto-Dominion Will Address Dividend Issue in First Quarter, Clark Says | Toronto-Dominion Bank may raise its dividend after the fiscal first quarter ends in January, Chief Executive Officer Edmund Clark said. “Whether we raise it or not, we will address the issue in the first quarter of next year,” Clark told reporters today after addressing the Canadian Club of Montreal. “If our sustainabl... |
2024-11-26 | Bloomberg | Banks Lead Way as Japan Companies Cut Mutual Shareholdings to 19-Year Low | Japanese companies cut their cross- shareholdings of allied firms to the lowest level in at least 19 years as banks stepped up sell-offs ahead of stricter global requirements for capitalization. Stocks held among corporate allies fell to 4.9 percent of Japan’s total outstanding shares in the year ended March 31, a two-... |
2024-03-26 | Bloomberg | Permanent TSB’s Loss Widens as Gains From Debt Buy-Backs Dwindle | Permanent TSB Group Holdings Plc (IPM) , the Irish lender owned by the government, said its annual loss more than doubled as dwindling gains from buying back its own debt outweighed a decline in provisions for bad loans. The net loss widened to 999 million euros ($1.29 billion) in 2012 from 424 million euros in the yea... |
2024-09-29 | Bloomberg | Aviva Unit Said to Draw Apollo, Harbinger, Guggenheim Bids | Aviva Plc (AV/) got offers from Apollo Global Management LLC (APO) , Harbinger Capital Partners and Guggenheim Partners LLC for a U.S. life insurance division it’s seeking to sell, said people with knowledge of the matter. The unit may fetch more than $1 billion, said the people, who spoke on condition of anonymity bec... |
2024-07-16 | Bloomberg | Aviva in Talks With Regulator Ahead of Hearing on Apollo Deal | Aviva Plc’s New York insurance unit is in talks with state regulators who are pushing for stronger reserves tied to its planned sale to Leon Black ’s Apollo Global Management LLC. (APO) The New York Department of Financial Services is also seeking advance approval of changes in investment strategy or payments from the... |
2024-03-19 | Bloomberg | Manulife Pulls Mortgage Rate Offer After Flaherty Asks | Manulife Financial Corp. (MFC) ’s Canadian bank withdrew a promotional mortgage rate, under pressure from Finance Minister Jim Flaherty who is encouraging consumers to reduce household debt. “After consulting with the Department of Finance, Manulife Bank has withdrawn the promotional campaign and reverted to our previo... |
2024-03-19 | Bloomberg | Canadian Stocks Fall as Europe Concern Sends Commodities Lower | Canadian stocks fell for a second day as commodities producers declined after Cypriot lawmakers rejected an unprecedented bank levy, sparking concerns Europe’s debt crisis will worsen. Pengrowth Energy Corp. (PGF) lost 1.2 percent as oil retreated after the euro fell to a three-month low versus the dollar. Legacy Oil +... |
2024-11-25 | Bloomberg | Notre Dame Poised for Probable Championship Berth With Victory | The University of Notre Dame defeated the University of Southern California 22-13, all but ensuring the “No. 1” sign above Grace Hall will stay lit for six more weeks and the Fighting Irish will play for college football’s national championship on Jan. 7. Notre Dame’s Kyle Brindza kicked five field goals and Theo Riddi... |
2024-04-09 | Bloomberg | Miami Dolphins Stadium Deal Nearing May 14 Referendum | The Miami Dolphins reached an agreement with local officials that paves the way for a referendum on whether taxpayers should support part of a $350 million upgrade to the Sun Life football stadium. Dolphins owner Stephen Ross, who has called the improvements essential to attracting future Super Bowls and other events, ... |
2024-04-09 | Bloomberg | Most Japan Stocks Drop as Yen Rebounds; Developers Fall | Most Japanese stocks fell amid concern shares have risen too fast and as the country’s currency rebounded after approaching 100 yen to the U.S. dollar. Mitsubishi Estate Co., Japan ’s biggest developer by market value, led real-estate stocks lower after the sector rose to its highest level in 5 1/2 years yesterday. Cre... |
2024-04-09 | Bloomberg | Indonesia Sells $3 Billion Debt at Lowest Rate in 2013 Debut | Indonesia sold $3 billion of 10- and 30-year dollar bonds at record low borrowing costs, tapping the global market for the first time this year, according to a person familiar with the offering. The nation issued $1.5 billion of notes due April 2023 to yield 3.50 percent, its cheapest-ever financing for non-Islamic bon... |
2024-09-11 | Bloomberg | Biggest Korea 2012 Bond Withdrawals No Deterrent to Manulife | Manulife Asset Management, a unit of Canada ’s largest insurer, is sticking with South Korea ’s government bonds on bets the won will strengthen, even after foreign investors cut holdings of the debt by 2.6 trillion won ($2.3 billion) in August, the biggest withdrawals this year. The company that oversees $37 billion o... |
2024-09-11 | Bloomberg | Apple’s Krall, Latham, Gardere, Covington: Business of Law | If Apple Inc. (AAPL) ’s patent litigation is the “thermonuclear war” over smartphone technology and design that co-founder Steve Jobs pledged to his biographer, Noreen Krall is its field marshal, Bloomberg News ’s Susan Decker and Adam Satariano report. Krall has become a familiar sight in courtrooms around the world a... |
2024-11-13 | Bloomberg | Olympus Sued by Manulife, 47 Investors for $241 Million | Olympus Corp. (7733) , the camera and endoscope maker that admitted an accounting fraud, said it was sued by a group of 48 investors for 19.1 billion yen ($240 million) in damages. The lawsuit by investors including State Street Bank and Trust Co. and Government of Singapore Investment Corporation Pte Ltd. was disclose... |
2024-11-14 | Bloomberg | Barrick Leads First Sales Decline in Canada Since 2009 | (Corrects Bank of Canada forecasts for GDP growth in the second-to-last paragraph in story published Nov. 13.) Sales (SPTSX) at Canadian companies are declining for the first time in 12 quarters as commodity prices head for the first annual retreat in four years amid slowing growth from China to Europe. Companies in th... |
2024-07-27 | Bloomberg | Treasuries Fall as Economic Data Strengthen Before Fed Meeting | Treasuries posted their first drop in three weeks as economic data indicated faster growth before the Federal Reserve meets next week to discuss whether to continue $85 billion a month in bond purchases. U.S. debt yields rose as July consumer confidence reached the highest level in six years and the demand for new home... |
2024-07-18 | Bloomberg | Cowdery’s Resolution Buys Allstate Life Business in U.S. | Clive Cowdery, who earned a fortune cutting deals that consolidated the U.K. life-insurance industry, is making a foray into the U.S. by buying a business from Allstate Corp. for $600 million (394 million pounds). Resolution Life Holdings Inc., a company founded by Cowdery’s London-based Resolution Group, agreed to buy... |
2024-09-28 | Bloomberg | Property Funds, Bonds Supplant Europe Lenders: Mortgages | Great Portland Estates Plc (GPOR) , the U.K.’s best-performing REIT this year, owed 60 percent of its debt to banks in 2010. Now, that same share of the London developer’s debts is held by bondholders and insurers that stepped into the market after banks reduced lending. Property companies like Great Portland and Derwe... |
2024-03-28 | Bloomberg | Aberdeen, Manulife Seek More Independent Boards: Southeast Asia | Southeast Asia ’s companies need to add more independent directors to their boards and boost diversity to attract foreign investors including Aberdeen Asset Management Plc (ADN) and Manulife Asset Management. One of the biggest obstacles is strengthening the roles of independent directors because many publicly traded c... |
2024-03-28 | Bloomberg | Inovalis REIT Said to Raise C$105 Million in Canada IPO | Inovalis Real Estate Investment Trust raised C$105 million ($103 million) in its Canadian initial public offering to invest in European office properties, according to two people familiar with the transaction. Inovalis REIT sold 10.5 million units for C$10 each, yielding 8.25 percent, the top end of its marketed range,... |
2024-10-07 | Bloomberg | Canada Regulators to Hold December Hearings on TMX Takeover | Securities regulators in Ontario and Quebec will hold hearings in December into the C$3.73 billion ($3.61 billion) proposed bid for TMX Group Inc. (X) by a group of 13 Canadian banks and pension funds. Maple Group Acquisition Corp., whose members include Toronto-Dominion Bank (TD) , Caisse de Depot en Placement du Queb... |
2024-04-08 | Bloomberg | RBC’s ‘Hodgepodge’ U.S. Retail Bank May Fetch $3.7 Billion | Royal Bank of Canada (RY) , Canada ’s largest lender, may get as much as $3.7 billion in the sale of its U.S. consumer bank, a fraction of what it invested in the money-losing business, analysts said. Royal Bank may sell its RBC Bank unit for about $2 billion to $2.5 billion, said Mario Mendonca, a bank analyst at Cana... |
2024-05-24 | Bloomberg | Canadian Stocks Little Changed on Commodity Rally, China | Canadian stocks were little changed as commodity companies rallied and banks pared losses in the final 40 minutes of trading, erasing a 0.6 percent decline in the S&P/TSX Composite Index. (SPTSX) Equities rebounded after Italian Prime Minister Mario Monti said Greece is likely to stay in the euro and that a majority o... |
2024-07-28 | Bloomberg | Dim Sum Debt’s Higher Yields Draw Kokusai, Sompo: China Credit | Japanese investors are buying more offshore yuan-denominated debt as the world’s lowest bond yields prompt them to seek higher returns overseas. Kokusai Asset Management Co. said it wants to add more of the securities to its holdings, while Sompo Japan Nipponkoa Asset Management Co. will start funds investing in so-cal... |
2024-07-28 | Bloomberg | Canada Stocks Advance as Banks Gain on U.S. Economic Data | Canadian stocks rose for the first time this week as better-than-forecast economic reports from the U.S. offset concern that lawmakers there won’t be able to reach an agreement to raise the debt ceiling and avoid default. Manulife Financial Corp. (MFC) , Canada ’s largest insurer, rose 1.3 percent, as financial shares ... |
2024-09-28 | Bloomberg | Swiss Stocks Are Little Changed; Credit Suisse Shares Decline | Swiss stocks closed little changed as Credit Suisse Group AG dropped on concern some European countries may struggle to fund themselves, while Petroplus Holdings AG gained following an analysts upgrade. The benchmark Swiss Market Index of the biggest and most actively traded companies slipped less than 0.1 percent to 6... |
2024-05-23 | Bloomberg | Buffett’s Idiot Challenge Seized by Jain in Premium Hunt | Ajit Jain, who helped build Berkshire Hathaway Inc. (BRK/A) into a $200 billion firm by underwriting risks that others shunned, is hunting for insurance-premium growth that his boss Warren Buffett says may be a thing of the past. The funds that Berkshire holds before paying out claims may decline after swelling to more... |
2024-11-23 | Bloomberg | Sun Life's Venture With China Everbright to Add More Cities, Stewart Says | Sun Life Financial Inc. , Canada’s third-largest insurer, plans to expand in more cities in China through its venture with China Everbright Group, Chief Executive Officer Donald Stewart said. Sun Life operates in 18 cities with 2,000 agents through the partnership, the Toronto-based insurer told investors today. “There... |
2024-11-23 | Bloomberg | Canadian Stocks Fall on Chinese Banks, European Debt Concerns | Canadian stocks fell for a second day as energy, base-metal and financial shares declined on concerns the European debt crisis will impair the global recovery and Chinese banks will cut back on lending. Suncor Energy Corp., Canada’s largest oil and gas producer, lost 2.7 percent as the U.S. Dollar Index climbed to the ... |
2024-07-18 | Bloomberg | Japan Stocks Top World as Factory Output Gains With Toyota | Equities in Japan are rising more than any other developed country on speculation earnings will improve as the country recovers from its strongest earthquake. The Nikkei 225 Stock Average climbed 2.9 percent since the start of June, posting the biggest increase among 24 developed countries in the MSCI World Index, acco... |
2024-06-04 | Bloomberg | Vietnam Five-Year Bonds Rise, Dong Weakens on Rate-Cut Bets | Vietnam ’s benchmark five-year bonds rose on speculation the central bank will cut interest rates to stimulate the economy. The dong weakened the most in a month. Vietnam’s economy may grow 5.2 percent to 5.5 percent this year, Dau Tu newspaper quoted Minister for Planning and Investment, Bui Quang Vinh, as saying toda... |
2024-09-22 | Bloomberg | Prudential Financial May Buy Two AIG Japan Insurers, WSJ Says | Prudential Financial Inc. is close to a deal to buy two Japanese life insurance companies for $4 billion to $5 billion from American International Group Inc. , the Wall Street Journal reported. A sale of AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. will help AIG repay the more than $90 billion it owes ... |
2024-09-21 | Bloomberg | Canada August Consumer Prices Unexpectedly Fall 0.1% | The cost of living in Canada unexpectedly fell in August, and the 12-month inflation rate slowed on decelerating energy costs, which may ease pressure on the Bank of Canada to continue raising interest rates. The consumer price index fell 0.1 percent in August, and rose 1.7 percent from a year ago following July’s 1.8 ... |
2024-09-22 | Bloomberg | Forzani Group, Potash Corp., Sprott: Canadian Equity Preview | Shares of the following companies may have unusual moves in Canadian trading. Enerplus Resources Fund (ERF-U CT): The country’s fourth- biggest energy trust by market value said it agreed to buy 46,500 net acres in the Bakken area of North Dakota and last month bought 58,500 net acres in the Marcellus area of West Virg... |
2024-02-02 | Bloomberg | JPMorgan Sued by Asset Management Fund Over Securities | JPMorgan Chase & Co. was sued by Asset Management Fund over claims it gave faulty information involving $515.6 million in residential mortgage-backed securities. The suit, filed in New York state Supreme Court in Manhattan yesterday, accuses JPMorgan of making “material representations and omissions” regarding underwri... |
2024-10-07 | Bloomberg | Dollar Slides Versus Yen as U.S. Debt Limit Looms; Rupee Weakens | The dollar sank to its lowest level in eight weeks against the yen amid concern U.S. lawmakers will fail to reach an agreement to raise the federal debt ceiling and keep the nation from defaulting. Switzerland ’s franc gained versus the greenback after Treasury Secretary Jacob J. Lew said yesterday Congress must boost ... |
2024-01-25 | Bloomberg | Crude Oil Increases After Fed Says Interest Rate Will Stay Low Until 2014 | Oil rose after Federal Reserve officials said the U.S. benchmark interest rate will stay low until at least 2014 to bolster growth and cut unemployment, boosting fuel demand. Futures advanced 0.5 percent as the Federal Open Market Committee extended its previous pledge to keep rates low at least until the middle of 201... |
2024-01-25 | Bloomberg | India’s Sensex Advances to 10-Week High on Policy Speculation | Indian stocks climbed to a ten-week high amid speculation the central bank will add to yesterday’s reserve-requirement cut to stimulate economic growth. Coal India Ltd. (COAL) , the world’s biggest producer of the fuel, jumped 3.9 percent, the most in two weeks. Tata Motors Ltd. (TTMT) , the owner of Jaguar Land Rover,... |
2024-11-15 | Bloomberg | Canada to Give Investors ‘Guidance’ After BHP Drops Potash Bid | Canada will give investors more clarity on foreign ownership restrictions after BHP Billiton Ltd. withdrew its hostile $40 billion offer for Potash Corp. of Saskatchewan Inc. following an initial rejection. “The government will be in a position not only to give reasons for the decision but to give broader guidance to t... |
2024-11-15 | Bloomberg | Sensex Rises First Time in Four Days; Tata Steel, State Bank Lead Gains | India’s benchmark stock index gained for the first time in four days. Tata Steel Ltd. gained after the nation’s biggest producer of the alloy returned to profit in the second quarter. Tata Steel advanced the most in a month. India’s Finance Minister Pranab Mukherjee held out the prospect of decades of “high growth” as ... |
2024-07-22 | Bloomberg | TMX Agrees to Takeover Talks With Maple After LSE Deal Scrapped | TMX Group Inc. (X) , the Toronto Stock Exchange owner that failed to combine with London Stock Exchange Group Plc (LSE) , agreed to takeover talks with a group of Canadian banks and pension funds. TMX’s board authorized management and advisers to hold discussions with Maple Group Acquisition Corp. on its unsolicited C$... |
2024-07-19 | Bloomberg | Bank of Canada Keeps Key Rate at 1%, Says Stimulus Steps Will Be Withdrawn | The Bank of Canada kept its main interest rate unchanged and said borrowing costs will increase as the economy recovers, with policy makers dropping the word “eventually” to describe the timing of their next move. The target for overnight loans between commercial banks remained 1 percent, where it’s been since Septembe... |
2024-09-27 | Bloomberg | Jets Defeat Dolphins as Edwards Scores a Touchdown; Cowboys Beat Texans | Braylon Edwards returned from a first-quarter suspension and had a 67-yard touchdown catch as the New York Jets beat the Miami Dolphins 31-23 to end a three- game losing streak against their division rivals. Edwards sat out the opening 15 minutes of the National Football League game last night because of his Sept. 21 a... |
2024-03-29 | Bloomberg | Sun Life Financial Awards CEO Stewart C$8.27 Million in 2010 | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, awarded Chief Executive Officer Donald Stewart C$8.27 million ($8.47 million) in total compensation for 2010, more the double the prior year. Stewart received a salary of C$1.1 million, share and option awards totaling C$5.5 million and an annual incentiv... |
2024-07-26 | Bloomberg | Rogers Falls Most in Nine Months as Wireless Profit Drops | Rogers Communications Inc. (RCI/B) , Canada ’s largest wireless carrier, fell the most in nine months after profit at its wireless business dropped amid a slide in customers’ average monthly bills. Operating profit excluding some costs at the wireless unit, which accounts for more than half of revenue, fell 7 percent t... |
2024-11-15 | Bloomberg | Canada Stocks Rise on U.S. Sales, Japan GDP; Potash Corp. Falls | Canadian stocks rose for the first time in three days as U.S. retail sales and Japanese gross domestic product increased faster than most economists forecast. Manulife Financial Corp., North America’s fourth-biggest insurer, rose 1.6 percent as financial companies rallied. Potash Corp., the world’s largest fertilizer p... |
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