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2024-03-21 | Bloomberg | Quebec Aims to Boost Mining With Infrastructure in Budget | Quebec is ramping up efforts to develop its northern region by investing in infrastructure, seeking to attract resource companies and boost royalties from increased output of minerals and hydrocarbons, Finance Minister Raymond Bachand said. Canada ’s second-most populous province will earmark C$1 billion ($1 billion) f... |
2024-03-20 | Bloomberg | Oracle Losing Ground as More Businesses Look to the Cloud | When Activision Blizzard Inc. (ATVI) needed new software to help it field questions from users of its “Call of Duty” shooter franchise and other games, it held a bakeoff between Oracle Corp. (ORCL) and Salesforce.com Inc. Oracle lost. Activision, the world’s biggest video-game maker, wanted applications delivered over ... |
2024-03-20 | Bloomberg | Glencore Agrees $6.15 Billion Deal for Canada’s Viterra | Glencore International Plc (GLEN) , the largest publicly traded commodity supplier, agreed to buy Viterra (VT) Inc. for C$6.1 billion ($6.15 billion) to add grain assets in Canada and Australia as growth in Asia boosts demand. Glencore will pay C$16.25 a share, it said in a statement yesterday. Glencore agreed to the d... |
2024-06-06 | Bloomberg | Canadian Stocks Retreat a Fifth Day as Crude Oil Futures Drop | Canadian stocks declined for a fifth day, erasing their 2011 gain, as energy stocks fell on lower crude-oil prices and financial companies dropped after the country reported a 21 percent plunge in building permits. Suncor Energy Inc. (SU) , Canada ’s largest oil and gas producer, lost 2.6 percent as crude dropped. Roya... |
2024-11-25 | Bloomberg | Oil Declines With Energy Shares While Yen Weakens on Iran | Oil fell and the yen weakened against the dollar while energy-company shares led the Standard & Poor’s 500 Index lower after Iran and world powers reached an initial deal on limits to the nation’s nuclear program. West Texas Intermediate crude fell 0.8 percent to $94.09 a barrel, trimming steeper losses from earlier in... |
2024-10-08 | Bloomberg | Canadian Economy Cooling Raises Odds of Central Bank Interest-Rate Pause | Employment and housing figures released today confirm that Canada’s economy is cooling faster than the central bank had forecast, indicating the Bank of Canada will refrain from raising interest rates until next year, economists said. Employment in Canada unexpectedly fell by 6,600 jobs in September, the second drop in... |
2024-03-16 | Bloomberg | BCE to Buy Astral Media for $3 Billion to Add TV Channels | The Montreal Canadiens’ 1980s hockey rivalry with the Quebec Nordiques was known as the Battle of Quebec. A new battle may be set to begin after BCE Inc. (BCE) agreed to buy Astral Media Inc. (ACM/A) , strengthening its footprint in the French-speaking province as it takes on Quebecor Inc. (QBR/B) BCE’s C$3 billion ($... |
2024-09-19 | Bloomberg | Canada Stocks Fall as Gold Miners Slump Following Fed Rally | Canadian stocks fell from a two-year high, as gold producers and financial stocks slid following the U.S. Federal Reserve ’s decision yesterday to unexpectedly maintain the pace of its bond buying program. Barrick Gold Corp. dropped 2.7 percent even as precious metals prices rallied. Manulife Financial Corp. and Sun Li... |
2024-11-12 | Bloomberg | MDC Partners Soars Selling Burgers on Facebook | MDC Partners Inc., the New York advertising holding company run by Canadian Miles Nadal, has soared 240 percent in the past year by helping clients like Burger King sell more hamburgers using Facebook and other social media. “We’re always trying new things to improve the effectiveness of the advertising we do,” Nadal, ... |
2024-07-26 | Bloomberg | Hong Kong Stocks Swing Between Gain, Loss on Profit Drops | Hong Kong stocks swung between gains and losses as companies warned of lower profit and the International Monetary Fund’s China representative said the country may have already done enough to put a recovery in place. China Resources Land Ltd. (1109) , a state-controlled mainland developer, rose 2 percent after Daiwa Ca... |
2024-10-01 | Bloomberg | Great-West Must Repay London Life Policyholders C$456 Million, Judge Says | Great-West Lifeco Inc. must repay London Life Insurance policy holders C$456 million for improperly using money in their accounts to help pay for a 1997 takeover of the company, an Ontario judge ruled. To contact the reporter on this story: Joe Schneider in Sydney at jschneider5@bloomberg.net To contact the editor re... |
2024-10-01 | Bloomberg | Biggest Rally Since 2002 Drives Provinces, Munis to Bonds: Canada Credit | Bond sales by Canadian provinces surged in the third quarter to the highest in almost a decade as borrowers took advantage of record-low interest rates and steady investor appetite to raise funds. Provincial and municipal borrowers sold C$25.9 billion ($25.2 billion) in 58 deals since June 30, the most since Bloomberg ... |
2024-09-27 | Bloomberg | Indonesian Funds Dump Stocks Tumbling Most Amid Global Rally | Indonesia ’s biggest mutual funds are liquidating stocks traded in Jakarta as local interest rates rise and growth slows, sending the nation’s benchmark equity index to the biggest drop among major markets this quarter. Equity funds managed by local units of Schroders Plc (SDR) , Manulife Asset Management and PT Bank M... |
2024-03-29 | Bloomberg | Canada Eliminates Penny Costing Penny-and-a-Half to Make | Canada will withdraw the penny from circulation this year, saving taxpayers about C$11 million ($11 million) annually and forcing retailers to round prices to the nearest nickel, the government announced in its budget today. The Royal Canadian Mint, which has produced 35 billion pennies since it began production in 190... |
2024-07-19 | Bloomberg | Cogeco Investors Fret U.S. Deal After Portugal: Corporate Canada | Cogeco Cable Inc. (CCA) shareholders are concerned its $1.36 billion purchase of U.S. cable operator Atlantic Broadband won’t be any more successful than its last international foray in Portugal. The Montreal-based cable company fell for a second day on the Toronto Stock Exchange after the deal was announced yesterday ... |
2024-10-06 | Bloomberg | Indian Oil Plans $2.5 Billion Share Sale to Lower Debt, Fund Its Expansion | Indian Oil Corp. , the nation’s second-biggest refiner, plans to sell $2.5 billion of stock to lower debt and fund new plants, Chairman Brij Mohan Bansal said. “We are in the process of appointing the lead managers and bankers,” Bansal said in an interview in New York. Government approval of the plan is expected soon a... |
2024-11-20 | Bloomberg | Mawer’s Hall Tops Peers as Fed Fuels Manulife | (Corrects name of funds in fifth paragraph in story published Nov. 15.) James Hall is the top manager among mutual funds focused on Canada ’s biggest companies this year as rising interest rates fuel wagers on insurers such as Manulife Financial Corp. The Manulife Canadian Investment Class Fund (MAMCAEQA) , managed by ... |
2024-11-15 | Bloomberg | Allianz’s Gary Bhojwani Says U.S. Is a Monster Market | Allianz SE (ALV) , Europe’s largest insurer, said it is committed to bolstering operations in the U.S. after international rivals scaled back in the country. “It is a monster market,” Gary Bhojwani, the management board member responsible for the Munich-based company’s U.S. insurance business said in an interview. “Cle... |
2024-02-02 | Bloomberg | Super Bowl Tickets Averaging Almost $5,000 | Four days before the Super Bowl between the Pittsburgh Steelers and Green Bay Packers, tickets to the game are being resold for an average of $4,683, almost twice as much as a year ago. The popularity and history of the teams has helped drive up ticket demand and prices for the National Football League’s championship, ... |
2024-02-03 | Bloomberg | Canadian Stocks Rise After U.S. Service-Sector Index Increases | Canadian stocks rose, led by financial companies, after the Institute for Supply Management’s index of non-manufacturing U.S. businesses climbed to the highest level since 2005. Toronto-Dominion Bank , Canada’s second-largest lender by assets, gained 0.6 percent after the U.S. said factory orders increased in December... |
2024-10-09 | Bloomberg | Agrium Says Investors ‘Strongly Support’ Existing Structure | Agrium Inc. (AGU) , the agricultural retailer and fertilizer producer, said some of its largest shareholders are in favor of retaining the company’s existing corporate structure. Agrium, based in Calgary, began talking in May with activist shareholder Jana Partners LLC about spinning off its network of farming supply s... |
2024-01-15 | Bloomberg | Canada Stocks Climb, Led by Centerra, Barrick as Gold Increases | Canadian stocks rose for a sixth day, the longest stretch since November, as gold producers advanced as the price of the metal increased amid concerns about U.S. debt ceiling discussions. Centerra Gold Inc. (CG) climbed 6.6 percent after its gold production forecast was almost double from last year. Barrick Gold Corp. ... |
2024-07-29 | Bloomberg | Canadian Stocks Advance on Earnings at Suncor, Potash Corp.; Cenovus Slips | Canadian stocks rose for the first time in three days as Suncor Energy Inc. and Potash Corp. of Saskatchewan reported earnings that beat analyst estimates and insurers rallied. Suncor, Canada’s largest oil and gas producer, gained 2.6 percent after topping analyst forecasts by 42 percent, the most in records dating ba... |
2024-07-19 | Bloomberg | Canada Stocks Fall as Gold Producers Drop on Euro; Financial Shares Slip | Canadian stocks fell for a second day, led by gold producers and financial shares, as futures for the precious metal dropped and a measure of U.S. homebuilders’ confidence fell more than forecast. Goldcorp Inc., Canada’s second-largest producer, declined 1.2 percent as the metal sank to an eight-week low on a stronger... |
2024-07-16 | Bloomberg | Cost of Living, Consumer Confidence in U.S. Probably Dropped | The cost of living in the U.S. dropped in June for a third straight month, showing inflation is contained as the recovery cools, economists said ahead of reports today. The consumer price index declined 0.1 percent last month after a 0.2 percent drop in May, according to the median forecast of 75 economists in a Bloom... |
2024-10-31 | Bloomberg | Scotiabank Names Int’l Group Head Brian Porter President | Bank of Nova Scotia named Brian Porter president, potentially paving the way for him to replace Richard Waugh as chief executive officer of Canada’s third- largest bank. Waugh, 64, will relinquish the role of president tomorrow and remain CEO, the Toronto-based lender said today in a statement. “This definitely puts Br... |
2024-10-31 | Bloomberg | Sherritt Falls After Earnings Miss Estimates: Toronto Mover | Sherritt International Corp. (S) , a Toronto-based miner with operations in Cuba, fell the most in more than three months after the company lowered 2012 output forecasts and reported earnings that trailed analysts’ estimates. Sherritt declined 4.5 percent to C$4.28 at 10:54 a.m. in Toronto. The shares earlier dropped a... |
2024-10-31 | Bloomberg | Canada Stocks Gain a Fifth Day as U.S. Markets Resume Trading | Canadian stocks rose for a fifth day, the longest winning streak since July, as commodities advanced and U.S. equity markets opened for trading for the first time this week in the aftermath of Hurricane Sandy. Potash Corp. of Saskatchewan Inc. , the world’s largest fertilizer producer by market value, advanced 0.5 perc... |
2024-06-05 | Bloomberg | Gluskin Sheff Sees Yield in Suncor, Oil Shares | Gluskin Sheff & Associates Inc. (GS) , the second-best performing publicly traded money manager in Canada this year, bought stakes in Suncor (SU) Energy Inc., Whitecap Resources Inc. and other oil providers as it focuses on high-yielding dividend stocks. Oil and gas producers and services companies have begun to clamp ... |
2024-12-05 | Bloomberg | Canadian Stocks Rise as Financials Gain on Italy Austerity Plan | Canadian stocks rose for the first time in three days, led by financial and energy companies, after Italy ’s cabinet approved a 30-billion-euro ($40 billion) package of austerity and growth measures. Royal Bank of Canada (RY) , Canada ’s largest lender by assets, gained 1 percent as Italian bond yields fell to a five-w... |
2024-09-29 | Bloomberg | Sun Life to Increase Stake in McLean Budden Fund Manager for C$144 Million | Sun Life Financial Inc. (SLF) , Canada’s third-largest insurer, agreed to buy the 32 percent of McLean Budden it doesn’t already own for about C$144 million ($139.6 million). Sun Life will transfer the money-management business to its MFS Investment Management unit, the Toronto-based insurer said today in a statement. ... |
2024-09-30 | Bloomberg | Abandoned Airport May Help Solve Hong Kong’s Office Shortage | Hong Kong’s abandoned Kai Tak Airport, idle for 13 years, may hold the answer to a space shortage in the world’s costliest office market where banks including Goldman Sachs Group Inc. (GS) jostle for towers. Visible across Victoria Harbour from the banking heart of Central, the overgrown landing strips and dilapidated ... |
2024-05-22 | Bloomberg | Canadian Pacific Seeks to Buy Short Lines as It Skips Big Deals | Canadian Pacific Railway Ltd. (CP) will consider buying regional railroads to improve efficiency because it doesn’t have the financial muscle now to acquire major carriers, Chief Executive Officer Hunter Harrison said. “We certainly will become -- along the short-line, regional front -- more aggressive than we have bee... |
2024-05-22 | Bloomberg | CIMB Net Jumps 37% to Record, Boosted by Stake Sale | CIMB (CIMB) Group Holdings Bhd., Malaysia ’s second-largest bank by assets, reported a 37 percent jump in first-quarter profit that was boosted by the sale of its stake in an insurance joint venture. Net income surged to a record 1.39 billion ringgit ($460 million), or 18.65 sen per share, in the three months ended Mar... |
2024-05-22 | Bloomberg | Canada’s Bond-Dumping Frenzy Escalates as Pensions Unload | Canada’s biggest pension-fund manager will “significantly” cut its C$64 billion ($62.3 billion) allocation to bonds as the fixed-income market’s foothold among its most loyal base of investors grows less certain. Caisse de Depot et Placement du Quebec Chief Executive Officer Michael Sabia said he’s scaling back fixed-i... |
2024-07-20 | Bloomberg | AIG Departures Mount as AIA's Wilson, Chairman Golub are Forced Out: Table | Mark Wilson , who was replaced as leader of American International Group Inc. ’s main Asia unit, joins more than 70 managers who defected to competitors, retired or were forced out following the insurer’s rescue. Former Prudential Plc Chief Executive Officer Mark Tucker will be the new head of AIA Group Ltd, AIG said ... |
2024-07-21 | Bloomberg | Canadian Stocks Fall as EnCana Slips on Earnigns, Financial Shares Decline | Canadian stocks fell as energy producers declined with an unexpected gain in oil supplies and financial shares dropped when U.S. Federal Reserve Chairman Ben S. Bernanke ’s testimony to Congress heightened concerns the recovery is faltering. Bank of Nova Scotia, Canada’s third-biggest bank, slipped 2.1 percent after B... |
2024-07-20 | Bloomberg | Drop in U.S. Housing Starts After Credit Ended Probably Extended Into June | Housing starts fell in June to the lowest level of the year as a slump in sales following the expiration of a government tax incentive caused U.S. builders to cut back, economists said before a report today. Work began on 577,000 houses last month, down 2.7 percent from May and the fewest since December, according to ... |
2024-09-28 | Bloomberg | Allon, PetroAmerica, Rare Element, TMX: Canadian Equity Preview | Shares of the following companies may have unusual moves in Canadian trading. Allon Therapeutics Inc. (NPC) : The Vancouver-based drug developer received a U.S. patent for its preclinical compound AL-408 for the treatment of fetal alcohol syndrome. Corby Distilleries Ltd. (CDL/A) (CDL/A CN): The alcoholic-beverages mak... |
2024-02-04 | Bloomberg | Ackman Canadian Pacific CEO Gets Deputy From National | Canadian Pacific Railway Ltd. (CP) hired Keith Creel away from rival Canadian National Railway Co. (CNR) and named him president and chief operating officer to assist Chief Executive Officer Hunter Harrison in his turnaround plan. The companies reached a settlement to end their outstanding litigation linked to Harrison... |
2024-02-04 | Bloomberg | Impact If GPIF Buys More Japan Stocks Substantial, Manulife Says | Hidehiro Tomioka, who helps oversee $1.3 billion in Japanese equities at Manulife Asset Management (Japan) Ltd. in Tokyo comments on Japan’s Government Pension Investment Fund’s decision to discuss changes to its asset balance: “They are a huge investor and any sort of meaningful asset-allocation change will impact the... |
2024-07-27 | Bloomberg | Rogers Second-Quarter Profit Tops Analysts' Estimates on Wireless Growth | Rogers Communications Inc. , Canada’s largest wireless carrier, reported second-quarter profit that surpassed analysts’ estimates as new subscribers for smartphones and devices such as Apple Inc.’s iPad fueled data growth. Profit excluding some items was 80 Canadian cents a share, Toronto-based Rogers said today in a ... |
2024-07-27 | Bloomberg | Sensitive Index Advances as Central Bank Signals Economic Growth is Intact | India’s benchmark stock index rose after the central bank increased borrowing costs more than expected, signaling policy makers are confident the pace of economic growth is robust. DLF Ltd., the nation’s biggest real estate developer, gained 2.2 percent, reversing a drop before the decision. Domestic economic recovery... |
2024-07-27 | Bloomberg | Home Prices in 20 U.S. Cities Probably Increased as Tax Credit Aided Sales | Home prices in 20 U.S. cities rose in May from a year earlier as a government tax credit temporarily underpinned sales, economists forecast a report to show today. The S&P/Case-Shiller index of property values increased 3.9 percent from May 2009, according to the median of 26 projections in a Bloomberg News survey. An... |
2024-07-27 | Bloomberg | Canada Stocks Fall as Commodity Producers Slip on U.S. Consumer Confidence | Canadian stocks fell for the first time in four days, led by commodity producers, after U.S. consumer confidence dropped to a five-month low. Barrick Gold Corp., the world’s largest producer, decreased 3.9 percent as the precious metal dropped for a third day. Bank of Nova Scotia, Canada’s third-largest bank , rose 1.... |
2024-01-23 | Bloomberg | Carney Says Canada Rate Rise Less Imminent on Inflation | Bank of Canada Governor Mark Carney said the need to raise interest rates is less urgent because the economy will take longer to reach full output, keeping inflation below target until the second half of next year. Policy makers kept their benchmark rate on overnight loans between commercial banks at 1 percent today, a... |
2024-01-23 | Bloomberg | Safeway Climbs on Speculation of Metro Bid: San Francisco Mover | Safeway Inc. (SWY) , the second-largest U.S. grocery-store chain, advanced the most in more than 15 months after Desjardins Securities Inc. said Metro Inc. (MRU) may bid for its Canadian stores. Safeway climbed 5.4 percent to $19.85 at the close in New York, the biggest gain since Oct. 4, 2011. The shares sank 14 perce... |
2024-10-23 | Bloomberg | Junk Bonds to Lose 1.5 Percentage-Point QE Cushion, Fridson Says | Investors in junk bonds will lose a yield cushion of more than 1.5 percentage points as the Federal Reserve winds down its unprecedented quantitative easing program that’s bolstered credit markets for five years, according to Martin Fridson. “Tapering has been delayed, but high-yield investors should nevertheless assum... |
2024-11-30 | Bloomberg | RIM Tablet Sales Expectations May Be Too Optimistic, Susquehanna Says | Research In Motion Ltd. , the mobile- phone maker whose shares have surged since it unveiled a tablet computer to compete with the iPad, may sell fewer of the devices than investors project, said Susquehanna Financial Group. Investors appear to be assuming RIM will sell about 10 million BlackBerry PlayBooks in the next... |
2024-11-30 | Bloomberg | JPMorgan Gives Bankers IPads in ‘Clear and Present Danger’ to RIM | JPMorgan Chase & Co. will give its investment bankers iPads to provide an additional mobile tool as Apple Inc. expands its domain to Wall Street, threatening Research in Motion Ltd. in a market it traditionally dominated. “We believe there are real benefits in our working environment that can be realized using this dev... |
2024-11-30 | Bloomberg | RIM Climbs as Analysts Forecast Growing Demand for PlayBook | Research In Motion Ltd. , whose shares have surged since it unveiled a tablet computer to compete with the iPad, climbed again as analysts forecast growing demand for the BlackBerry PlayBook. The PlayBook has a chance to compete with tablets such as Apple Inc. ’s iPad because of its QNX operating system, Peter Misek , ... |
2024-07-04 | Bloomberg | India Rate Cycle to Peak in Two to Three Months, Birla Sun Says | Vikram Kotak, who oversees $4.2 billion as chief investment officer at Mumbai-based Birla Sun Life Insurance Co. , comments on the outlook for Indian stocks. He spoke in an interview with Bloomberg UTV. The Bombay Stock Exchange Sensitive Index, or Sensex, rose 0.3 percent to 18,820.45 at 3:12 p.m. Mumbai time. The mea... |
2024-07-04 | Bloomberg | Sun Life Says CEO Stewart to Retire in November, Names Connor as Successor | Sun Life Financial Inc. (SLF) said Chief Executive Officer Donald A. Stewart will retire on Nov. 30. The company named Dean A. Connor as successor, taking up the role of CEO effective Dec. 1. To contact the editor responsible for this story: Michelle E. Frazer at mfrazer@bloomberg.net |
2024-07-04 | Bloomberg | Indian Equities Extend Two-Week Advance as Greece Concerns Ease | Most Indian stocks rose, extending a two-week rally, as Europe pulled Greece back from the brink of default and after U.S. manufacturing accelerated in June. DLF Ltd. (DLFU) , the largest developer, climbed the most in more than three months, and Tata Motors Ltd. (TTMT) , the nation’s biggest truckmaker, climbed 1.7 pe... |
2024-07-04 | Bloomberg | Imax, Research In Motion, Sun Life: Canadian Equity Preview | Shares of the following companies may have unusual moves in Canadian trading. Canadian markets were closed July 1 for the Canada Day holiday. Canadian Overseas Petroleum Ltd. (XOP) : The oil and gas explorer said it expects Liberia to approve its proposed $85 million purchase of an offshore block in the third quarter. ... |
2024-02-27 | Bloomberg | Fiera Sceptre May Add Staff, Acquire Assets in U.S. in Next Year, CEO Says | Fiera Sceptre Inc. (FSZ) , the Montreal- based money manager that agreed to buy Natcan Investment Management from National Bank of Canada , wants to expand in the U.S. and may add staff or acquire businesses in the next year. “We have ambitions to grow our business in the U.S.,” Fiera Chairman and Chief Executive Offic... |
2024-02-27 | Bloomberg | Emerging Stocks Fall From 6-Month High as Airlines, Automakers Drop on Oil | Emerging-market stocks fell from a six-month high on concern higher energy costs will hurt economic growth and erode earnings at airlines and automakers. Korean Air Lines Co. (003490) , South Korea’s biggest carrier, dropped 5.3 percent even as crude-oil futures fell from a nine- month high. Thai Airways International ... |
2024-05-30 | Bloomberg | ING Said to Pick Second-Round Bidders for Asset Management Unit | Manulife Financial Corp. (MFC) and Principal Financial Group Inc. (PFG) were invited to make second-round bids for ING Groep NV (INGA) ’s asset-management business in Asia, said three people with knowledge of the matter. United Overseas Bank Ltd. (UOB) and Nikko Asset Management Co. will also be given access to more fi... |
2024-12-17 | Bloomberg | Bank of Montreal to Acquire U.S. Banker Marshall & Ilsley for $4.1 Billion | Bank of Montreal ’s agreement to buy Wisconsin lender Marshall & Ilsley Corp. for about $4.1 billion in stock will double its U.S. deposits and branches and may spark more mergers among regional banks. Bank of Montreal agreed to pay 0.1257 of its own stock for each share of Marshall & Ilsley to expand its Chicago-based... |
2024-12-17 | Bloomberg | Provincial Bond Sales Back to Pre-Crisis Levels in Long End: Canada Credit | Canada’s provincial long-term bond issuance programs are returning to pre-crisis levels as issuers take advantage of record demand and historically low borrowing costs to secure funding. Provincial governments issued C$21 billion ($20.9 billion) of bonds with a term to maturity of 11 years or longer this year, 35 perce... |
2024-08-28 | Bloomberg | Ways to Fend Off The Wealth-Sapping Costs of a Disability | Lynn Francis was worried when her 81-year-old mother Joann started forgetting things a few years ago. Her fear turned to panic as her mother began inviting strangers into her house and giving away bank account information to just about anyone on the other end of the phone. Joann has become increasingly reclusive, afrai... |
2024-08-28 | Bloomberg | Canadian Stocks Rise Amid Syria Concerns as Energy Gains | Canadian stocks rose , rebounding from the benchmark index’s biggest drop since June, as energy producers rallied on a surge in oil prices amid growing speculation of a U.S. military strike against Syria. Niko Resources Ltd., an oil exploration company, gained 6.8 percent to lead advances among oil companies as crude t... |
2024-08-28 | Bloomberg | WTI Crude Rises to Two-Year High on Syrian Tension | West Texas Intermediate crude surged to the highest level since May 2011 on concern that the conflict in Syria will spread and threaten oil supplies from the Middle East. Brent climbed to a six-month high in London. Futures rose 1 percent in New York while gasoline advanced for the fifth time in six days. The U.S., Fra... |
2024-06-28 | Bloomberg | Manulife Enters Cambodia Market With Phnom Penh Office | Manulife Financial Corp. (MFC) , Canada’s largest insurer, has opened an office in Phnom Penh, Cambodia, its first in the Southeast Asian nation. Manulife has about 40 people in its Cambodian unit, the Toronto-based insurer said today in a statement. Chief Executive Officer Donald Guloien, 55, has said expansion in Asi... |
2024-10-24 | Bloomberg | Sun Life Sees China Insurance Venture Turning Profitable in 2015 | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, expects to become profitable in the Chinese market in 2015, ending more than a decade of losses after obtaining status to do business as a local insurer. The insurance company seeks to raise net income contribution from Asia to 12 percent in 2015 through ... |
2024-11-08 | Bloomberg | Montreal Transit Agency Plans First 30-Year Bond: Canada Credit | Montreal’s transit agency plans to borrow as much as C$300 million ($300 million) by year-end, the first step in a C$11.9 billion investment program to modernize its subway and bus network during the next decade. Societe de Transport de Montreal, as the agency is known, may borrow as much as C$1.2 billion annually in t... |
2024-02-16 | Bloomberg | Variable Annuities End Streak of Gains as MetLife Retreats | U.S. variable-annuity sales fell for the first time in seven quarters as insurers including MetLife Inc. (MET) seek to reduce risk. Fourth-quarter sales fell less than 1 percent industrywide to $38.4 billion after increasing for six straight quarters when compared with a year ago, trade group Limra said today on its we... |
2024-02-16 | Bloomberg | Sun Life Falls as Annuities Fuel Insurer’s Quarterly Loss: Toronto Mover | Sun Life Financial Inc. (SLF) , Canada’s third-largest insurer, fell as much as 3.3 percent after posting fourth-quarter results that fell short of some analyst estimates. Shares of Sun Life dropped 1.8 percent to C$20.51 ($20.51) at 9:50 a.m. in Toronto trading. Earlier they touched C$20.20, the biggest one-day declin... |
2024-02-16 | Bloomberg | Sun Life CEO Says Investors Will Get ‘Sharper Focus’ Next Month | Sun Life Financial Inc. (SLF) , Canada’s third-largest insurer, will give details next month on its goals for return on equity, Chief Executive Officer Dean Connor said. “People will leave March 8 with a more detailed sense of our medium-term financial objectives and how we plan to achieve those,” Connor, referring to ... |
2024-04-12 | Bloomberg | Malaysia Plans 30 Billion Ringgit Rail Sukuk, Official Says | Malaysia plans to sell as much as 30 billion ringgit ($9.9 billion) of local-currency Islamic bonds under a program to help finance a mass-transit railway in Kuala Lumpur , a government official said. A special financing vehicle will be formed by the government to raise the funds which will be used for the country’s bi... |
2024-04-12 | Bloomberg | Canadian Money Floods U.S. on Widest S&P 500 Discount Since ’02 | Canadian investors are buying U.S. stocks at the fastest pace in at least six years after valuations for the benchmark Toronto Stock Exchange index rose to the highest level compared with American equities since 2002. Money managers in Canada overseeing a combined $227 billion bought $288.7 million more of U.S. shares ... |
2024-04-12 | Bloomberg | Canadian Stocks Decline as Commodities Fall on Japan Earthquakes | Canadian stocks fell, completing the biggest two-day plunge since June, as commodity producers dropped after two more earthquakes hit Japan and the Asian country raised the severity rating of its nuclear disaster. Suncor Energy Inc. (SU) , Canada ’s biggest oil and gas producer, lost 3.4 percent as crude futures slippe... |
2024-08-19 | Bloomberg | AIG Tops MetLife in Annuity Sales First Time Since 2008 | American International Group Inc. (AIG) topped MetLife Inc. (MET) in U.S. annuity sales for the first time since 2008 as Chief Executive Officer Robert Benmosche regains market share lost by his predecessors in the financial crisis. AIG sold $3.9 billion of the retirement products in the second quarter, while MetLife’s... |
2024-06-26 | Bloomberg | Most Canadian Stocks Decline as Gold Shares Tumble | Most Canadian stocks retreated as the fourth decline in five days by raw-material companies amid concern about the European debt crisis overshadowed gains by financial shares. Gold companies in the Standard & Poor’s/TSX Composite Index plunged 2.4 percent, extending their loss since June 18 to 8 percent. SouthGobi Reso... |
2024-01-31 | Bloomberg | Maple Extends TMX Takeover Offer to Feb. 29 to Get Approvals | Maple Group Acquisition Corp., comprised of 13 Canadian financial-services firms, extended its C$3.73 billion ($3.73 billion) offer for TMX Group Inc. (X) to Feb. 29 while it pursues regulatory approvals to buy Canada’s main equities and derivatives markets. “We are committed to the transaction and are working diligent... |
2024-11-01 | Bloomberg | Encana Bonds Plunge on Natural Gas Price, Hedging Contracts: Canada Credit | Encana Corp. ’s long-term bonds tumbled last month while those of energy industry competitors gained as investors bet natural gas prices will remain depressed and the Canadian company scales back its hedging program. Encana’s 6.5 percent U.S. dollar-denominated notes maturing in February 2038 lost 2.6 percent of their ... |
2024-08-26 | Bloomberg | Pimco to Manulife See Won Bond Gains on Inflows: Korea Markets | Investors dumping emerging market bonds have added $11.5 billion to holdings in South Korea in six straight months of purchases, taking advantage of an improving economy and the region’s best-performing currency. Pacific Investment Management Co., which oversees the world’s biggest bond fund, expects yields to drop bec... |
2024-02-29 | Bloomberg | Bombardier’s Shrinking Jet Backlog Adds Urgency to Orders | Bombardier Inc. (BBD/B) , which sold more small commercial planes in this year’s first two months than all of 2011, must step up the pace of orders even more to keep from cutting production a second straight year, analysts said. The planemaker garnered only four orders from February through December for regional jets, ... |
2024-06-21 | Bloomberg | Canada’s Flaherty Tightens Mortgage Rules to Avert Bubble | Canadian Finance Minister Jim Flaherty said he will tighten mortgage terms as the Group of Seven country with the soundest government finances tries to avert a household debt crisis. The government will shorten the maximum amortization period on mortgages the government insures to 25 years from 30 years, and lower the ... |
2024-12-21 | Bloomberg | Canada CPI and Retails Data Give Central Bank Scope to Hold Rates Steady | Canada’s consumer prices advanced less than forecast last month and the volume of retail sales fell in October, giving the Bank of Canada scope to hold interest rates steady until at least the second quarter of 2011. The consumer price index rose 2 percent in November following a 2.4 percent gain the previous month and... |
2024-04-18 | Bloomberg | Canadian Stocks Decline as S&P Cuts View on U.S. Credit Outlook | Canadian stocks fell for a third day as Standard & Poor’s changed its outlook on the United States’ credit ratings to “negative” and oil and metals producers dropped on falling commodity prices. Suncor Energy Inc. (SU) , Canada’s largest oil and gas producer, lost 2.2 percent after Saudi Oil Minister Ali al-Naimi said ... |
2024-08-21 | Bloomberg | Crude Falls as Fed Minutes Show Support for Tapering | West Texas Intermediate crude dropped to the lowest level in almost two weeks after minutes of the Federal Reserve’s July policy meeting signaled a likely reduction in economic stimulus this year. Futures fell 1.2 percent. The record of the July 30-31 session showed members of the Federal Open Market Committee were “br... |
2024-08-21 | Bloomberg | Indonesian Stocks Climb First Time in Five Days as Pension Buys | Indonesian stocks rose for the first time in five days after valuations sank to a 14-month low and the nation’s biggest pension fund said it’s buying. The rupiah slid to the weakest level in four years and bonds fell. The Jakarta Composite Index (JCI) added 1 percent to close at 4,218.45. The gauge traded yesterday at ... |
2024-08-11 | Bloomberg | Manulife Posts Second-Quarter Profit on U.S. Insurance Gains | Manulife Financial Corp. (MFC) reported a second-quarter profit of C$490 million ($493 million), rebounding from a record loss a year earlier when it increased reserves to protect against equity-market declines. Net income at Canada ’s largest insurer was 26 cents per share compared with a year-earlier loss of C$2.4 bi... |
2024-08-11 | Bloomberg | Manulife CEO Calls U.S. Market Declines a ’Gross Overreaction’ | Manulife Financial Corp. (MFC) Chief Executive Officer Donald Guloien said recent drops in U.S. equity markets are a “gross overreaction.” He spoke today on a conference call with investors. To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net To contact the editors responsi... |
2024-08-11 | Bloomberg | Manulife CEO Guloien Says 5-Year Hedge Plan Ahead of Schedule | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, said it’s ahead of schedule on a five-year plan to hedge most of the company’s equity risk. Manulife, which is more sensitive to equity market fluctuations than any other Canadian insurer, said in November it plans to hedge 75 percent of equity risk by the end... |
2024-12-11 | Bloomberg | Vingroup Markets High-Yield Dollar Debt as Sales Steady | Vingroup JSC (VIC) is marketing the second offering of dollar-denominated bonds from Vietnam in 2012, as high-yield note sales from Asia outside of Japan inch past last year’s total. Bond risk in Japan and Australia rose. Vietnam’s biggest property developer is seeking to price five-year debt, which the company can buy... |
2024-04-25 | Bloomberg | Indonesian Two-Year Bond Yield at One-Month Low; Rupiah Gains | The yield on Indonesia’s two-year government bonds fell to a one-month low as foreign funds seek higher-returning assets amid monetary easing in developed nations. The rupiah strengthened. Overseas funds have pumped 8.72 trillion rupiah ($897 million) into the country’s local-currency notes since April 3, the day befor... |
2024-07-02 | Bloomberg | Allstate to Cut 379 Jobs, Close Call Center in Illinois | Allstate Corp. (ALL) , the largest publicly traded U.S. home and auto insurer, said it will cut about 379 employees next month, or about 1 percent of its workforce, by closing a call center in Woodridge, Illinois. The call center will close on Aug. 11, Chris Bauer, a spokesman for Northbrook, Illinois-based Allstate, s... |
2024-07-03 | Bloomberg | Mitsubishi UFJ to Buy Ayudhya in Biggest Thai Bank Takeover | Mitsubishi UFJ Financial Group Inc. (8306) plans to buy Thailand’s Bank of Ayudhya Pcl for as much as 560 billion yen ($5.6 billion) in the largest banking takeover in the Southeast Asian nation. Japan’s biggest bank will seek to buy as much as 75 percent of the Bangkok-based lender from shareholders including General ... |
2024-07-02 | Bloomberg | Bank of Montreal Rises to No. 2 in Stock Sales | Bank of Montreal overtook Canadian lenders including Royal Bank of Canada (RY) and Toronto-Dominion Bank for arranging stock sales in the first half of the year after leading some of the country’s biggest initial public offerings. The lender’s BMO Capital Markets unit arranged 19 equity financings that raised $2.25 bil... |
2024-06-29 | Bloomberg | Corporates Trail U.S. Counterparts for 5th Straight Quarter: Canada Credit | Canadian corporate bonds are underperforming their U.S. counterparts for a fifth straight quarter for the first time since 2007, as issuance rises in expectation of higher central bank rates. Canada’s corporate debt has returned 1.67 percent in the second quarter, including reinvested interest, less than the 2.85 perc... |
2024-06-30 | Bloomberg | Canada Stocks Pare Quarterly Loss as Gold, Energy Producers' Shares Rise | Canadian stocks rose, paring the biggest quarterly decline since 2008 in the main equity index, as energy and gold producers rallied. Barrick Gold Corp., the world’s largest producer of the metal, gained 1.9 percent as signs that the economic recovery remains fragile boosted the metal. Canadian Natural Resources Ltd.,... |
2024-06-29 | Bloomberg | Canadian Stocks Decline Most in Year on Lowered China Index; Teck Tumbles | Canadian stocks fell the most in a year, led by banks and commodity producers, after the U.S. Conference Board lowered its index of Chinese leading economic indicators and commodity futures dropped. Teck Resources Ltd., Canada’s largest producer of base metals and coal, declined 5.7 percent after announcing an explosi... |
2024-06-29 | Bloomberg | Home Prices in U.S. Probably Rose, Consumer Confidence Declined | Home prices rose as sales got a boost from a tax credit, while consumer confidence cooled from a two-year high, signaling a pickup in employment is needed to sustain the recovery, economists said before reports today. The S&P/Case-Shiller index of April property values in 20 cities climbed 3.4 percent from the same mo... |
2024-09-05 | Bloomberg | Oil Is Steady as ECB Policy Makers Meet on Bond Plan | Oil was little changed in New York as European Central Bank policy makers met to discuss a plan involving unlimited purchases of government debt to ease the region’s debt crisis. Futures traded in a $1.41-a-barrel range after two central bank officials said Germany’s Bundesbank objected to the plan. Prices initially ro... |
2024-09-05 | Bloomberg | Carney Tighter Policy Bias to Keep Canada as G-7 Outlier | The Bank of Canada will probably remain an outlier among Group of Seven nations by keeping its inclination to raise borrowing costs in the future while other central banks consider new stimulus. While policy makers led by Governor Mark Carney may reiterate a tightening bias, the target rate on overnight loans between b... |
2024-09-05 | Bloomberg | Marois’s Quebec Separatists to Form Minority Government | Quebec ’s separatists will return to power for the first time in nine years, in an election marred by a fatal shooting at the Montreal nightclub where Parti Quebecois leader Pauline Marois was giving a victory speech. An armed man entered the building from a back door and fired shots that left one person dead, Montreal... |
2024-06-17 | Bloomberg | Canada Stocks Gain as Gold Producers Rise in Flight to Safety; Teck Falls | Canadian stocks advanced for a sixth day as investors bought gold producers in a flight to safety after an increase in U.S. jobless claims fueled concern that the global economic recovery may slow. Barrick Gold Corp., the world’s largest gold producer, gained 4 percent as the metal advanced the most in eight days. Tec... |
2024-06-16 | Bloomberg | Production in U.S. Probably Climbed in May at Fastest Pace in Four Months | Production increased in May by the most in four months, showing U.S. manufacturers are overcoming the fallout from the European debt crisis, economists said before reports today. Output at factories, mines and utilities increased 0.9 percent in May, the biggest increase since January and the 10th gain in the past 11 m... |
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