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2024-10-01 | Bloomberg | CNA Said to Seek Buyer for $500 Million Annuities Unit | CNA Financial Corp. (CNA) , the insurer controlled by Loews Corp., is looking to sell its payout annuities business to focus on property and casualty coverage, three people with knowledge of the matter said. CNA is working with Morgan Stanley to find buyers for the unit, which makes payments to retirees and people inju... |
2024-04-01 | Bloomberg | Emerging-Market Stocks Rise to Highest Since June 2008 on Growth | Emerging-market stocks rose for a fourth day, sending the benchmark index to the highest level since June 2008, as manufacturing growth in China and surging exports in South Korea spurred confidence in the global economy. The MSCI Emerging Markets Index climbed 0.7 percent to 1,179.19 at 11:03 a.m. in London , heading ... |
2024-03-16 | Bloomberg | Insurer Allianz Steps Into Commercial Property Lending as Banks Retreat | Allianz SE (ALV) , Europe ’s biggest insurer, will start to offer direct commercial real-estate loans in Germany this year and may expand into mortgage lending across the euro region. Allianz Real Estate will grant senior loans to German property buyers or borrowers refinancing existing debt, said Olivier Piani, chief ... |
2024-03-16 | Bloomberg | Canadian Stocks Fluctuate as Oil Stocks Rise, Banks Decline | Canadian stocks swung between gains and losses as energy and fertilizer producers rose with the prices of oil and wheat while banks fell after U.S. building permits declined to a record low. Suncor Energy Inc. (SU) , Canada ’s largest oil and gas producer, climbed 1.9 percent as violence escalated in Bahrain. Potash C... |
2024-03-16 | Bloomberg | MALAYSIA DAYBOOK: Cypark Landfill Plan, Shin Yang Vessel Damage | Cypark Resources Bhd. (CYP MK) will launch a renewable energy park in Nilai, Negeri Sembilan, with Prime Minister Najib Razak at 1:15 p.m. Daud Ahmad, the group chief executive officer, will outline the company’s plans for 16 other landfill projects in the country. WHAT TO WATCH: * Shin Yang Shipping Corp. (SHIN MK) sa... |
2024-02-27 | Bloomberg | Apple’s Backing Puts Gay-Marriage Focus on Obama at Court | Gay-marriage advocates, aiming to show broad support as the U.S. Supreme Court takes up the issue for the first time, have enlisted Apple Inc. (AAPL) , Morgan Stanley (MS) and dozens of Republicans who once held top government positions. Now they’re eyeing the White House. President Barack Obama ’s administration has u... |
2024-05-31 | Bloomberg | Prudential Takes On Aflac in Benefits After Health Law | Prudential Financial Inc. (PRU) and MetLife Inc. (MET) are moving onto Aflac Inc.’s turf selling protection against diseases and accidents as the largest insurers seek to add business tied to President Barack Obama ’s health overhaul and win valuations like their smaller rival. MetLife, Prudential and American Internat... |
2024-08-29 | Bloomberg | Symetra Hires Hancock’s Raymond as Insurer’s Strategy Chief | Symetra Financial Corp. (SYA) , the insurer that counts Warren Buffett ’s Berkshire Hathaway Inc. among its largest shareholders, said Craig Raymond was hired as chief strategy officer to evaluate the business portfolio and weigh possible acquisitions. Raymond, previously the chief risk officer at Manulife Financial Co... |
2024-10-22 | Bloomberg | Apollo Said to Hire Advisers for European Life Insurance Push | Apollo Global Management LLC, (APO) Leon Black ’s private equity firm, hired advisers to start a life insurance operation in Europe , two people with knowledge of the matter said. The firm hired RMR Advisors Ltd., started earlier this year in London by former UBS AG bankers Jamie Robinson, Deepak Rajan and Henrik Mats... |
2024-01-02 | Bloomberg | Stanford Beats Wisconsin 20-14 in Rose Bowl, Florida State Wins | Stanford University beat the University of Wisconsin 20-14 in the 99th edition of college football’s Rose Bowl , while Florida State University defeated Northern Illinois University 31-10 in the Orange Bowl. Bruce Ellington caught a 32-yard pass from Dylan Thompson with 11 seconds remaining as South Carolina rallied to... |
2024-06-16 | Bloomberg | Bank Profits Seen Buffeted by Rates Rising Without Growth | Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end. Higher long-term interest rates can discourage mortgage lending and cause losses in the securities... |
2024-07-05 | Bloomberg | Manulife's MFC Global Investment to Manage HK Hospital Authority Bond Fund | MFC Global Investment Management will manage the bond portion of the Hong Kong Hospital Authority’s Provident Fund Scheme denominated in Hong Kong dollars, according to an e-mailed statement from the company. Paula Chan and Ronald Chan will manage the HK$682 million mandate, according to the statement. MFC Global Inve... |
2024-07-05 | Bloomberg | Corporate Debt Sales May Slow This Year as Profits Increase: Canada Credit | Canadian corporate bond issuance may slow during the second half of the year as funding demand eases amid rising profits and after firms rushed to sell debt earlier this year to benefit from low yields. Corporate issuance during the first six months of this year totaled C$38.7 billion ($36.4 billion), the highest leve... |
2024-08-17 | Bloomberg | Canada Regulator Clears BCE, Rogers Purchase of MLSE | Rogers Communications Inc. (RCI/B) and BCE Inc. (BCE) have cleared the last hurdle in their bid to acquire the most valuable team in the National Hockey League after receiving approval from Canada ’s telecommunications regulator. The Canadian Radio-television and Telecommunications Commission approved the C$1.32 billio... |
2024-02-19 | Bloomberg | Great-West Lifeco to Buy Irish Life for C$1.75 Billion | Great-West Lifeco Inc. , Canada’s second-largest insurer, agreed to buy Irish Life Group Ltd. for C$1.75 billion ($1.73 billion) from Ireland’s government as it seeks to expand European operations. Shares climbed the most in almost seven months. The transaction will add about C$215 million, or 10 percent, to Great-West... |
2024-07-02 | Bloomberg | U.K. Stocks Advance as BHP Billiton, Rio Tinto, Dana Petroleum Shares Gain | U.K. stocks advanced, with the benchmark FTSE 100 Index rebounding from a ten-month low, as basic-resources companies rallied and Dana Petroleum Plc received a takeover approach. BHP Billiton Ltd. and Rio Tinto Group led gains by mining shares after Australian Prime Minister Julia Gillard scaled back a proposed tax on... |
2024-06-11 | Bloomberg | Insurers Shares Beating Banks by Most in 25 Years | Canadian life insurance stocks led by Manulife Financial Corp. (MFC) are outperforming banks by the most in more than two decades as they gain from business abroad while lenders face slower consumer borrowing. The six-company Standard & Poor’s/TSX Life and Health Insurance Index rose 19 percent this year through yester... |
2024-06-11 | Bloomberg | Great-West Names Kyle Irish Life CEO After $1.7 Billion Accord | Great-West Lifeco Inc. (GWO) , Canada’s second-largest insurer, named Bill Kyle chief executive officer of Irish Life Group Ltd., which the company is set to take over for 1.3 billion euros ($1.7 billion) within weeks. Kyle, who has worked for Great-West and its subsidiaries for 34 years, will succeed Irish Life CEO Ke... |
2024-06-11 | Bloomberg | Manulife’s John Hancock to Buy Broker-Dealer From Symetra | Manulife Financial Corp. (MFC) , Canada’s largest insurer, said its John Hancock unit reached a deal to acquire a broker-dealer and investment adviser firm from Symetra Financial Corp. to expand in the U.S. Symetra Investment Services has about 280 registered representative and would become affiliated with the John Han... |
2024-06-11 | Bloomberg | Asian Shares Fall Across Region on Central Bank Policies | Asian stocks fell, led by Japanese shares, after the Bank of Japan kept its policy unchanged. Chinese stocks listed in Hong Kong headed for the longest losing streak in 17 years as a gauge of companies outside Japan fell more than 10 percent from a high last month. Mitsubishi Estate Co. (8802) , Japan’s biggest develop... |
2024-10-25 | Bloomberg | Citigroup Productivity Worst of Big Banks Shows Challenge | Michael Corbat , Citigroup Inc. (C) ’s new chief executive officer, says he wants to run a more efficient bank. That means rousing or cutting one of Wall Street’s least productive workforces. Citigroup generated about $206,000 of revenue for each employee through the first nine months of the year, down 7.5 percent from... |
2024-10-25 | Bloomberg | Potash Corp. Cuts Forecast on Delayed China, India Sales | Potash Corp. of Saskatchewan Inc. , the world’s largest fertilizer producer, cut its 2012 earnings forecast because of reduced sales of its namesake crop nutrient to China and India. Earnings, excluding an impairment charge related to an investment in Sinofert Holdings Ltd. (297) , will be $2.40 to $2.60 a share, the S... |
2024-02-21 | Bloomberg | Oil Drops to Lowest Level This Year as U.S. Supply Rises | West Texas Intermediate oil in New York fell to the lowest level this year as a government report showed that U.S. crude stockpiles climbed to the highest level since July. Futures dropped 2.5 percent after the Energy Information Administration said that supplies rose 4.14 million barrels last week to 376.4 million. A ... |
2024-02-21 | Bloomberg | Bombardier Delays Learjet Model Debut, Defers Rail Target | Bombardier Inc. (BBD/B) tumbled the most in almost a year after pushing back initial deliveries of its Learjet 85 business aircraft and saying its train unit wouldn’t meet a 2013 profit target. The Learjet 85 will debut in “summer 2014” instead of this year and the rail unit’s earnings before interest and taxes won’t r... |
2024-05-09 | Bloomberg | BCE Profit Beats Estimates as Smartphone Data Spending Grows | BCE Inc. (BCE) , Canada ’s second-largest wireless carrier, reported first-quarter profit that beat analysts’ estimates as customers spent more to surf the Web and watch videos on their smartphones. Excluding severance, acquisition costs and some other expenses, earnings were 77 Canadian cents (77 cents) a share, the M... |
2024-05-09 | Bloomberg | IAG Flush With Cash for Market Downturn: Corporate Canada | Industrial Alliance Insurance and Financial Services Inc. is poised to continue outperforming Canadian insurance peers as it shores up capital to guard against a decline in stocks. IAG, as the insurer is known, gained 19 percent this year after raising its capital ratio to a level higher than competitors including Manu... |
2024-05-09 | Bloomberg | Canada Stocks Drop After Fed Official’s Comments Amid Earnings | Canadian stocks fell, snapping a five-day rally for the benchmark index, after financial shares declined as investors weighed earnings reports and a Federal Reserve official’s comments about U.S. stimulus efforts. Sun Life Financial Inc. lost 1.2 percent after its profit slumped. Detour Gold Corp. fell 7.4 percent afte... |
2024-06-27 | Bloomberg | BlackRock Sees Alberta Bond Sales on Flood Repairs | Alberta will probably sell bonds to pay for rebuilding of roads and bridges damaged by the worst flooding in more than a century, according to investors including BlackRock Inc. (BLK) , the world’s biggest money manager. Alberta’s government has committed C$1 billion ($955 million) so far to pay for relief from floods ... |
2024-06-18 | Bloomberg | Western Sees Half-Point Yield Jump Easing Drought: China Credit | Chinese high-grade companies may have to pay half a percentage point higher than current yield premiums to revive dollar-denominated bond sales amid the longest pause since February, Western Asset Management Co. said. The two-week hiatus comes as average yields on Chinese debt in the U.S. currency soared last week to a... |
2024-06-18 | Bloomberg | Sun Life to Take Pension Risk From Canadian Wheat Board | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, signed a C$150 million ($147 million) deal with the Canadian Wheat Board to take on the risk of funding its pension plan. Sun Life will assume risk of inflation-linked pensions of the board’s members, the Toronto-based insurer said today in a statement. I... |
2024-06-18 | Bloomberg | Duke Names CFO Good as Next Chief Executive Officer | Duke Energy Corp. (DUK) named Chief Financial Officer Lynn Good to be its next chief executive officer, replacing Jim Rogers who had agreed to retire as part of a settlement with regulators probing the company’s $17.8 billion Progress Energy acquisition. “Our unanimous support of Lynn as our next president and CEO clea... |
2024-06-19 | Bloomberg | Shareholders Vote No-Confidence in GSW Immobilien’s CEO | Shareholders of GSW Immobilien AG (GIB) , Berlin’s largest residential landlord by market value, passed a vote of no-confidence against its chief executive officer following investors’ complaints over how he was hired. The no-confidence motion for CEO Bernd Kottmann got 63.3 percent of votes at the annual shareholder m... |
2024-06-18 | Bloomberg | Harper Ends Trip Unable to Win Canada-EU Trade Deal | Prime Minister Stephen Harper concludes his eight-day European trip unable to complete a trade agreement with the European Union, just as the opening of EU-U.S. talks raises the risk that Canada will be left out. Harper, who met German Chancellor Angela Merkel and Italian Prime Minister Enrico Letta on the sidelines of... |
2024-02-28 | Bloomberg | Builders Find Investors Eager to Finance Housing Growth | Joel Shine, chief executive officer of Woodside Homes, raised $228 million in a debt and equity recapitalization in October, two years after the Salt Lake City-based builder exited bankruptcy. Investment bankers now are pushing closely held Woodside to sell stock publicly or issue debt as the home-construction industry... |
2024-12-20 | Bloomberg | Manulife Buys Three North American Properties for $555 Million | Manulife Financial Corp. (MFC) ’s real estate division bought three office properties in New Jersey, California and Canada for about $555 million as it boosts its holdings in North America. The purchases include 10 Exchange Place, a 30-story tower in Jersey City, New Jersey, that was acquired for $285 million, and a fo... |
2024-05-07 | Bloomberg | Canadian Natural Plant Fix Signals Stock Gains | Canadian Natural Resources Ltd. (CNQ) , the country’s third-largest energy company by market value, is forecast by analysts to rally further after fixing a problem- plagued oil-sands plant. The Calgary-based oil and gas company has emerged from its first winter in three years without a major shutdown at its 110,000 bar... |
2024-06-20 | Bloomberg | Canadian Stocks Slump Most in 2 Months as Commodities Plunge | Canadian stocks plunged to a two-month low, joining a global rout in equities and commodities, after the U.S. Federal Reserve said it may phase out stimulus and manufacturing in China contracted. All 10 industries in the Standard & Poor’s/TSX Composite Index (SPTSX) retreated, led by a 5.7 percent decline among raw-mat... |
2024-06-20 | Bloomberg | Manulife on Pace for Best Week Since May | Manulife Financial Corp. (MFC) , the largest insurer in Canada , is on pace for its biggest weekly gain since May as rising interest rates boost investment income used to pay out annuities. Manulife rose 1.5 percent to C$16.80 at the close of trading in Toronto today, its highest since July 8, 2011. That brought the ad... |
2024-08-20 | Bloomberg | Prudential Joins AIG Taking Annuities Share From MetLife | Prudential Financial Inc. (PRU) and American International Group Inc. (AIG) grabbed a bigger share of the U.S. variable-annuity market as MetLife Inc. (MET) reduced sales of the equity-linked retirement products. Prudential, the top seller of variable annuities this year, boosted its market share to 14 percent in the s... |
2024-01-08 | Bloomberg | Barrick to Lead Wave of Gold-Mining Asset Sales in 2013 | Barrick Gold Corp. (ABX) and its global competitors are poised to sell assets this year as the companies seek to reverse two years of share-price declines. Barrick, the largest producer of the precious metal, held talks to sell its majority stake in African Barrick Gold Plc (ABG) , which runs the company’s highest-cost... |
2024-01-08 | Bloomberg | Canada Stocks Erase Losses as Financials Rebound, Gold Rallies | Canadian stocks erased losses in the last half hour of trading as financial shares reversed earlier declines and gold gained the most in a week. Manulife Financial Corp. (MFC) added 2.6 percent and Bank of Nova Scotia (BNS) rose 0.2 percent. Goldcorp Inc. (G) jumped 3.2 percent, while Barrick Gold Corp. (ABX) retreated... |
2024-01-08 | Bloomberg | Alabama Routs Notre Dame for Third BCS Football Title in 4 Years | The University of Alabama became the third school since 1936 to win college football’s national championship three times in a four-year span with a 42-14 rout of the University of Notre Dame. Alabama junior quarterback AJ McCarron threw four touchdown passes, while Crimson Tide running backs Eddie Lacy and T.J. Yeldon ... |
2024-01-08 | Bloomberg | Alabama Beats Notre Dame to Keep College Football National Title | The University of Alabama defeated the University of Notre Dame 42-14 to claim college football’s national championship for the second straight year. The victory at Sun Life Stadium in Miami gives the second- ranked Crimson Tide (13-1) their third Bowl Championship Series title in four years, while securing a seventh s... |
2024-11-08 | Bloomberg | Canada Stocks Rise as Jobs Data, Air Canada Profit Top Estimates | Canadian stocks rose the most in three weeks as Air Canada reported higher-than-estimated earnings and jobs data beat economists’ forecasts. Air Canada, the nation’s largest airline, surged 7.2 percent after reducing costs. Manulife Financial Corp. (MFC) , Canada’s largest insurer, increased 2.6 percent for a fourth da... |
2024-11-08 | Bloomberg | Manulife Joins BlackBerry Debt Sale as Brookfield Reduces Role | Manulife Financial Corp. (MFC) , Canada ’s largest insurer by market value, agreed to invest $70 million in BlackBerry Ltd. (BB) ’s $1 billion debt sale, while Brookfield Asset Management Inc. (BAM/A) and Markel Corp. (MKL) reduced their roles. Brookfield lowered its stake to $10 million from $50 million, and Markel cu... |
2024-11-08 | Bloomberg | Bank of Montreal Hires Haycock, Eves Joins PACE, Vlaad Says | Neil Haycock joined Bank of Montreal as managing director and head of corporate broking in London from JPMorgan Chase & Co., according to Vlaad & Co., a Toronto-based financial services recruiting firm. Other moves noted in the “Bill’s Buzz” weekly newsletter include: * PACE Securities Corp. added former Ontario Premie... |
2024-09-03 | Bloomberg | Quebecor Seen Thriving as Verizon Wireless Threat Fades | Quebecor Inc. (QBR/B) , the best performing mobile-phone provider in Canada , is poised to be one of the biggest winners in a government auction of wireless airwaves now that Verizon Communications Inc. (VZ) has said it doesn’t plan to expand north. While Canada’s three largest carriers, Rogers Communications Inc. (RCI... |
2024-09-03 | Bloomberg | Fiera Agrees to Buy Bel Air, Wilkinson O’Grady in U.S. Expansion | Fiera Capital Corp. (FSZ) , the Canadian money manager looking to double its assets, agreed to buy wealth-management firm Bel Air Investment Advisors LLC and investment manager Wilkinson O’Grady & Co. for about $156.3 million to expand in the U.S. The agreement to buy Los Angeles-based Bel Air, including its affiliate ... |
2024-07-03 | Bloomberg | Duke Energy Says Johnson Resigns as CEO, Rogers to Remain | Duke Energy Corp. (DUK) said Bill Johnson won’t take over as chief executive officer as planned after its $17.8 billion takeover of Progress Energy Inc. (PGN) Instead, James Rogers will continue as chairman and CEO of the combined companies. Johnson, who was Progress’s CEO, resigned after the deal closed yesterday, the... |
2024-07-03 | Bloomberg | Target’s Hiring Poised to Roil Domestic Retail | Target Corp. (TGT) and Wal-Mart Stores Inc. (WMT) plan to hire tens of thousands of workers in Canada over the next two years, increasing pressure on domestic retailers from Sears Canada Inc. (SCC) to Canadian Tire Corp Ltd. (CTC/A) Target, the second-largest U.S. discount retailer, will hire as many as 27,000 people ... |
2024-06-10 | Bloomberg | Maple Group Says TMX Shareholders Need More Time to Vote | Maple Group Acquisition Corp., the group of nine Canadian pension funds and banks that offered to buy TMX Group Inc. (X) , said more time should be given for shareholders to consider their unsolicited proposal. TMX owners are scheduled to vote June 30 on a C$3.34 billion ($3.42 billion) takeover bid by London Stock Exc... |
2024-04-24 | Bloomberg | John Hancock Suit Against JPMorgan Moved to Federal Court | John Hancock Life Insurance’s lawsuit against JPMorgan Chase & Co. over residential mortgage- backed securities was moved to federal court from New York state court. John Hancock, a unit of Boston-based Manulife Financial Corp. (MFC) , sued New York-based JPMorgan in state Supreme Court in Manhattan in January, accusin... |
2024-04-24 | Bloomberg | Vietnam Bonds in Longest Winning Streak Since 2010; Dong Gains | Vietnam ’s benchmark five-year bonds gained for a seventh day, the longest streak since June 2010, on speculation banks bought debt as a slowdown in commercial lending boosted cash in the system. The dong strengthened Commercial lending fell 1 percent in the first quarter from a year earlier, swelling funds in the fina... |
2024-09-04 | Bloomberg | Desjardins Quantitative Strategist Edward Sollbach Leaves Firm | Desjardins Securities Inc. said Edward Sollbach, a quantitative analyst and strategist with its research unit, left the Canadian bank on Aug. 14. “This was made in the context of an overall business review and an ongoing alignment of our research product to the overall needs of Desjardins,” said Mark Lucey, head of res... |
2024-06-20 | Bloomberg | Canadian Stocks Rise as Financial Companies Gain; RIM Tumbles | Canadian stocks rose for the first time in four days as equities rebounded from their lowest prices relative to earnings since August, led by financial companies and raw-materials producers. Manulife Financial Corp. (MFC) climbed 2.5 percent after an analyst at Toronto-Dominion Bank (TD) raised his rating on the insure... |
2024-07-04 | Bloomberg | Canada Competition Bureau Approves Maple Takeover of TMX | Canada ’s Competition Bureau approved the C$3.73 billion ($3.68 billion) takeover of TMX Group Inc. (X) by a group of banks and pensions funds, sending shares of the Toronto Stock Exchange owner to its highest level in more than four years. The Competition Bureau’s decision came after Ontario’s securities regulator app... |
2024-03-02 | Bloomberg | Canada Stocks Drop as Mining Shares Slip With Euro; Yamana Falls | Canadian stocks fell, completing a weekly retreat, as mining stocks dropped with the euro after Germany reported a decline in retail sales and oil futures slipped as Saudi Arabia denied speculation of pipeline sabotage. Yamana Gold Inc., Canada ’s third-largest gold producer by market value, lost 2.6 percent as the met... |
2024-05-09 | Bloomberg | Canadian Stocks Advance as Metals Rebound; Nexen Shares Retreat | Canadian stocks rose for a second day, led by raw-materials and energy producers, as an index of commodities rebounded from its biggest weekly drop since 2008. Goldcorp Inc. (G) , the world’s second-biggest gold producer by market value, increased 2.2 percent as precious metals rallied. Suncor Energy Inc. (SU) , Canada... |
2024-11-06 | Bloomberg | Sun Life Profit Beats Estimates on Insurance, Wealth Management | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, said third-quarter profit beat analysts’ estimates as revenue from insurance and wealth-management sales increased. Net income from continuing operations declined 27 percent to C$324 million ($311 million), or 53 cents a share, from C$441 million, or 74 c... |
2024-08-26 | Bloomberg | Manulife Punished by Bond Market as Insurer Boosts Reserves: Canada Credit | Manulife Financial Corp. ’s record quarterly loss is raising borrowing costs for Canada’s largest insurer at a time when the rest of the nation’s corporate bond market is enjoying the lowest yields in 18 years. Eight of the 10 worst-performing bonds in Canada this month were issued by Manulife, led by a 6.17 percent d... |
2024-10-13 | Bloomberg | Coal India Plans Nation's Largest IPO as Asia Offerings Surge | Coal India Ltd. will sell as much as 151.54 billion rupees ($3.4 billion) of shares in the nation’s biggest initial public offering, helping the government raise funds to build roads and power plants as IPOs in Asia surge. The world’s largest coal producer will offer stock at 225 rupees to 245 rupees apiece, Coal Minis... |
2024-10-12 | Bloomberg | Thai Equities to Rally as Concern Over Baht Measures Fades, Manulife Says | The Thai benchmark stock index , the third-worst performer among Asia’s top 15 markets this month, may resume a rally on speculation any new measures to curb baht gains would spare equities, according to Manulife Asset Management (Thailand) Co. Foreigners will accumulate more of the shares on the expectation consumpti... |
2024-11-01 | Bloomberg | Klar Joins RBC; Vranic Hired at Canadian Imperial, Vlaad Says | Jamie Horvat joined M&G Investments in London as a fund manager from Stifel Financial Corp. where he was an investment banker, according to Vlaad & Co., a Toronto-based financial services recruiting firm. Other moves noted in the “Bill’s Buzz” weekly newsletter include: * Brahm Klar joined the mergers team at Royal Ban... |
2024-02-16 | Bloomberg | Rogers Profit Misses Analysts' Estimates as Low-Cost Competition Increases | Rogers Communications Inc ., Canada ’s largest wireless carrier, reported fourth-quarter profit that missed analysts’ estimates as new carriers and rival BCE Inc. hurt growth in new subscribers. Profit excluding some items was 64 Canadian cents (65 cents) a share, Toronto-based Rogers said today in a statement. Analyst... |
2024-02-17 | Bloomberg | Canada Stocks Advance as Energy, Gold Shares Gain | (Corrects fourth paragraph to say jobless claims rose.) Canadian stocks rose a fourth day as energy and gold companies advanced amid renewed concerns about stability in the Middle East and higher-than-forecast inflation in the U.S. Suncor Energy Inc ., the country’s biggest oil and gas producer, gained 2.4 percent and... |
2024-06-21 | Bloomberg | Sun Life-Guggenheim Deal Delayed Amid Insurer-Risk Probe | Sun Life Financial Inc. (SLF) , Canada’s third-largest insurer, said a $1.35 billion agreement to sell its U.S. annuity business to a firm owned by Guggenheim Partners LLC shareholders has been delayed amid a regulatory review. The New York State Department of Financial Services investigation into ownership of insurers... |
2024-10-15 | Bloomberg | Superior Plus Gains on BMO Analyst Upgrade | Superior Plus Corp. (SPB) , the largest propane distributor in Canada , gained the most in two months after an analyst upgraded the stock on the view the company’s two main divisions will rise in value. Superior Plus rose 5.6 percent to C$9.42 at the close in Toronto. Earlier, the Calgary-based company gained as much a... |
2024-10-15 | Bloomberg | Canadian Stocks Rise as Bank Rally Overshadows Commodities Slump | Canadian stocks climbed, with the Standard & Poor’s/TSX Composite Index (SPTSX) advancing in the last half hour of trading, as a rally in financial shares overshadowed a slump in commodities and a rise in household debt to a record. Manulife Financial Corp. (MFC) , Canada’s largest insurer, advanced 1.5 percent. Royal ... |
2024-10-15 | Bloomberg | TMX Is Focused on Integration, Not Acquisitions, CEO Says | TMX Group Inc. (X) will focus on integrating recent acquisitions before seeking another deal, Chief Executive Officer Thomas Kloet said, the latest indication that no takeover of Direct Edge Holdings LLC is imminent. “I’m not thinking about a big transaction,” Kloet said in an interview at the World Federation of Excha... |
2024-05-07 | Bloomberg | Banks Buying Hong Kong Towers as Rents Climb: Real Estate | Seeking to hedge against rising rents and a shortage of space, banks and insurers are on a record spree of buying office buildings in Hong Kong, where occupancy costs are the second-highest in the world. Manulife Financial Corp. (MFC) , Canada ’s biggest insurer, and Hang Seng Bank Ltd. (11) this year bought office tow... |
2024-05-06 | Bloomberg | Constellation Software Leads Canada Tech Revival | Constellation Software Inc.’s (CSU) acquisition strategy has made it the third best-performing stock in Canada over the past five years, helping to lead a resurgence in the long-underperforming technology industry once dominated by smartphone maker BlackBerry. (BB) Constellation, based in Toronto, has surged 483 perce... |
2024-02-11 | Bloomberg | Parkland Top Riskless Return on Record Oil Gap | Parkland Fuel Corp. , Canada’s largest independent fuel distributor, has posted the best risk- adjusted return among the country’s energy stocks as it reaps the rewards of the world’s cheapest crude. Parkland outperformed all other 61 members in the Standard & Poor’s/TSX Energy Index in the 12 months through Feb. 8, re... |
2024-01-09 | Bloomberg | TransCanada Plans $5.1 Billion Pipeline to LNG Terminal | TransCanada Corp. (TRP) , builder of the Keystone XL oil pipeline, was selected to construct and operate a C$5 billion ($5.1 billion) natural-gas conduit to Petroliam Nasional Bhd’s planned export terminal in British Columbia. The Prince Rupert Gas Transmission project has a proposed initial capacity of 2 billion cubic... |
2024-01-09 | Bloomberg | Oil Little Changed as Inventories Jump, Equities Gain | Oil was little changed after a government report showed that U.S. crude and fuel inventories surged while equities gained on economic optimism. Futures fell 5 cents after the Department of Energy said crude stockpiles rose 1.31 million barrels to 361.3 million and output reached the highest level since 1993. The combin... |
2024-01-09 | Bloomberg | Emerging Stocks Rise as Alcoa Forecast Fuels China View | Emerging-market stocks rose for the first time in four days as utilities rebounded and Alcoa Inc. (AA) predicted stronger demand in the biggest developing nations. Aluminum Corp. of China Ltd. , the nation’s biggest producer of the metal, rose in Hong Kong as Alcoa’s sales beat estimates. Guangzhou Automobile Group Co.... |
2024-02-01 | Bloomberg | Barrick Starts Energy Unit Sale Process | Barrick Gold Corp. (ABX) is considering the sale of the company’s Barrick Energy unit as the world’s largest gold producer looks to offload underperforming assets. The company, based in Toronto, has started a sales process for the oil and gas unit, Andy Lloyd , a Barrick spokesman, said yesterday in an e-mail. Chief Ex... |
2024-01-31 | Bloomberg | Gildan Slumps as Best Canada Stock Downgraded | Gildan Activewear Inc. (GIL) , the top- performing company in the benchmark Standard & Poor’s/TSX Composite Index in 2012, fell the most in more than two months after an analyst at RBC Capital Markets lowered the stock’s rating. Gildan, one of the world’s biggest suppliers of blank tops to makers of printed clothing, f... |
2024-06-26 | Bloomberg | Bombardier Delays CSeries Debut to July Instead of June | Bombardier Inc. (BBD/B) delayed the maiden flight of its CSeries jet again, pushing the plane’s first takeoff into July only days after saying the company’s largest-ever model would meet a June deadline. The new goal is for a debut by the end of next month, Montreal-based Bombardier said today in a statement. The extra... |
2024-06-26 | Bloomberg | Royal Bank Takes on Rivals With New Canada Stock Exchange | Royal Bank of Canada , left out of a banking group that bought the Toronto Stock Exchange last year, is betting a new exchange will take business from Canada’s largest bourse. Canada’s biggest bank teamed up with two of the country’s largest mutual fund dealers to create Aequitas Innovations Inc., with a plan to target... |
2024-06-26 | Bloomberg | Canada’s Carriers Tumble as Verizon Threat Looms | BCE Inc. (BCE) , Rogers Communications Inc. (RCI/B) and Telus Corp. (T) , Canada’s three biggest wireless carriers, all tumbled in Toronto trading on concern that Verizon Communications Inc. (VZ) is poised to enter the market. Verizon, which co-owns the leading U.S. mobile-phone service, has submitted an initial offer ... |
2024-06-26 | Bloomberg | GSW Shares Jump as Top Two Executives Resign: Frankfurt Mover | GSW Immobilien AG (GIB) , the German property company that faced investor criticism over the March hiring of its chief executive officer, rose the most in 19 months after saying its CEO and its chairman will quit. GSW, Berlin’s largest residential landlord by market value, rose as much as 5.3 percent to 30 euros in Fra... |
2024-12-19 | Bloomberg | Goldman Sachs Could Be Tops in M&A Deals | Goldman Sachs Group Inc. (GS) is poised to win the top spot among advisers on both global takeovers and equity offerings for the first time in five years, a sign the bank hasn’t lost the trust of corporate executives. The global mergers-and-acquisitions team, led since May by Gene T. Sykes, 53, in Los Angeles and Londo... |
2024-12-19 | Bloomberg | Default Swaps Jump Most in BRICs as Gandhi Subsidizes Food: India Credit | India ’s plan to boost food subsidies by 50 percent is threatening efforts to cut the budget deficit , extending the biggest jump in bond risk among the largest developing nations. The cost to protect the debt of State Bank of India , seen as a proxy for the nation, against non-payment rose 234 basis points in 2011 to ... |
2024-06-19 | Bloomberg | Poloz Seen Signaling Low Rate to Stay in Canada Speech | Bank of Canada Governor Stephen Poloz will probably use his first public speech since taking office today to stress that rebuilding business investment is a key challenge, suggesting he won’t tighten monetary policy soon. The Bank of Canada has said growth needs to be driven by exports and business spending, so comment... |
2024-02-20 | Bloomberg | Great-West Joins Insurance Rally With Deal | Great-West Lifeco Inc. (GWO) ’s C$1.75 billion ($1.72 billion) agreement to buy Irish Life Group Ltd. signals a return to growth for the Canadian insurance industry that has spent years since the financial crisis seeking to contain damage from plunging stock prices. The acquisition is the biggest takeover by a Canadian... |
2024-01-07 | Bloomberg | Beating Notre Dame for Title Adds $400,000 to Saban’s Payday | University of Alabama coach Nick Saban will collect a $400,000 bonus on top of his $5.9 million salary with a Crimson Tide victory over Notre Dame in the Bowl Championship Series title game tonight. Fighting Irish coach Brian Kelly made $2.38 million in 2010-11, the most recent figures available from the Catholic schoo... |
2024-01-07 | Bloomberg | Irish Life CEO Delays Exit Amid Revived Great-West Takeover Bid | Irish Life Group Ltd. Chief Executive Officer Kevin Murphy postponed his plans to retire at the end of 2012 as the government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc. (GWO) Murphy, 61, agreed to delay stepping down “for some months pending the appointment of a successor,” said R... |
2024-01-07 | Bloomberg | San Miguel Leads Philippine Index Rally to Record: Manila Mover | Alliance Global Group Inc. (AGI) and San Miguel (SM) Corp. led the Philippine Stock Exchange Index (PCOMP) ’s rally to a record as some investors bought shares of companies trading at a discount to the benchmark gauge. Alliance Global, which has investments in casino, liquor and fast food, rose to a record. San Miguel,... |
2024-10-24 | Bloomberg | Sun Life Said to Seek Buyer for U.S. Annuities Unit | Sun Life Financial Inc. (SLF) , Canada’s third-largest insurer, is seeking a buyer for a U.S. annuities business that may fetch more than $1 billion, said people with knowledge of the matter. Morgan Stanley is helping Sun Life solicit bids and has attracted interest mostly from investment firms, including Guggenheim Pa... |
2024-06-10 | Bloomberg | Manulife, KfW and Caisse Provide Debt for $294 Million Wind Farm | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, is one of three lenders providing long term financing for a C$300 million ($294 million) wind farm that’s under construction in Quebec. KfW Group also participated with Caisse de Depot et Placement du Quebec, project sponsor Eolectric Inc. said today in a stat... |
2024-06-10 | Bloomberg | Travelers to Buy E-L’s Dominion of Canada for $1.1 Billion | Travelers Cos. (TRV) , the lone property insurer in the Dow Jones Industrial Average , agreed to buy Dominion of Canada General Insurance Co. from E-L Financial Corp. for about $1.1 billion in cash. Dominion will be combined with Travelers’ operations in Canada and have headquarters in Toronto, the New York-based buyer... |
2024-05-08 | Bloomberg | WTI Crude Rises as Brent Premium Falls to Two-Year Low | West Texas Intermediate crude rose to a one-month high after supplies fell at Cushing, Oklahoma , the delivery point for the contract. Brent oil’s premium to WTI shrank below $8 for the first time since January 2011. Futures climbed 1 percent as the Energy Information Administration said that inventories at the storage... |
2024-05-08 | Bloomberg | Sun Life’s Dean Connor Combats Low Rates with U.S. Sales | Sun Life Financial Inc. (SLF) , Canada’s third-largest insurer, will seek sales growth in Asian markets to help counter stagnant interest rates, Chief Executive Officer Dean Connor said. “Malaysia offers excellent opportunities for long-term growth with a fast growing economy and middle class,” Connor said today at the... |
2024-05-08 | Bloomberg | Sun Life Profit Beats Analysts’ Estimates on Asia Bounce | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, reported first-quarter profit that beat analysts’ estimates as sales in Asia increased. Net income fell 25 percent to C$513 million ($511 million), or 85 cents a share, from C$686 million, or C$1.15, a year earlier, the Toronto-based firm said today in a ... |
2024-06-18 | Bloomberg | German Landlord Said to Face Dissent in CEO Investor Vote | GSW Immobilien AG (GIB) , Berlin’s largest residential landlord by market value, will be opposed by some shareholders today in a vote over how it handled the hiring of its chief executive officer, according to five of the investors. At the annual shareholder meeting, investors will vote on a no-confidence motion that c... |
2024-10-23 | Bloomberg | Nexen Sale Said to Turn on China Backing Canada Deals | Canada plans to ask China to allow several transactions in exchange for approval of state-owned Cnooc Ltd. (883) ’s $15.1 billion bid for Nexen Inc. (NXY) , said a person with knowledge of the matter. This list of deals by Canadian companies in China underscores that reciprocity will be part of foreign investment polic... |
2024-10-23 | Bloomberg | RBC, TD Bank Go on Buying Spree to Bolster Slowing Profit | Royal Bank of Canada and Toronto- Dominion Bank (TD) announced purchases today of almost $20 billion in combined assets from U.S. companies to bolster profit ahead of a slowdown in domestic consumer lending. Royal Bank, the nation’s largest lender, plans to buy Ally Financial Inc. (ALLY) ’s Canadian auto-finance and de... |
2024-10-23 | Bloomberg | Carney Strengthens Rate-Increase Bias on Debt Concern: Economy | The Bank of Canada signaled it may seek to curb record household debt levels by raising interest rates for the first time in more than two years, sharpening the divide with other Group of Seven nations focused on easing policy to combat a cooling global economy. Governor Mark Carney said in Ottawa today that “some mode... |
2024-11-30 | Bloomberg | Billionaire Prokhorov Touts Gold as Trump Embraces Foreclosures | Stock markets are down. Europe is gyrating. Cash generates minuscule returns. Commodities, especially gold, can soar or tumble in an instant. In these perplexing times, Bloomberg Markets magazine in its January issue asked 10 billionaires 14 questions covering their views on the global economy, where they see opportuni... |
2024-11-30 | Bloomberg | TMX Falls After Competition Bureau Cites ‘Serious Concerns’ | TMX Group Inc. (X) fell the most in almost three weeks after Canada’s competition watchdog said it has “serious concerns” about the proposed C$3.73 billion ($3.66 billion) takeover of the Toronto Stock Exchange owner. TMX fell 0.7 percent to C$44.43 at 4:29 p.m. Toronto time, the biggest drop since Nov. 10. The shares ... |
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