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2024-08-30 | Bloomberg | Barclays Hires Paul Knight, Phillip Huang From UBS, Vlaad Says | Richard Kim moved to National Bank of Canada (NA) as an infrastructure analyst from Macquarie Capital Markets, according to Vlaad & Co., a Toronto-based financial services recruiting firm. Other moves noted in the “Bill’s Buzz” weekly newsletter include: * Barclays Plc (BARC) added Paul Knight as vice chairman and co-h... |
2024-05-29 | Bloomberg | Vietnam’s Stocks Seen Gaining 65% as Rates Fall: Southeast Asia | Vietnamese stocks , Asia’s biggest losers during the past five years, are rising the most in 2012 as the nation’s largest money managers say falling interest rates will reverse the deepest earnings slump in three years. The benchmark VN Index may extend its rally by another 65 percent through 2013 after climbing 24 per... |
2024-09-23 | Bloomberg | Takeovers ‘Diminished’ Amid Uncertainty, Manulife’s Rooney Says | Manulife Financial Corp. ’s Canadian head Paul Rooney says insurers are less likely to pursue large takeovers around the world because of uncertainty over global accounting and capital rules. “The prospects for big ones anywhere in the world by anyone is greatly diminished because there are certain uncertainties in the... |
2024-09-23 | Bloomberg | Canadian Stocks Fall as U.S. Jobless Claims Rise; Teck Declines | Canadian stocks fell for a third day after the U.S. reported an unexpected increase in initial jobless claims and European purchasing managers reported slower growth. Manulife Financial Corp., North America’s third-largest insurer, dropped 1.7 percent after the U.S. Labor Department said first-time unemployment applica... |
2024-10-04 | Bloomberg | Hove Leaves Stifel for Clarus; GMP Hires Stevenson, Vlaad Says | Richard Nadeau, former Desjardins Securities Inc. vice chairman and managing director of capital markets , is now chief financial officer of Groupe Reseau Selection, according to Vlaad & Co., a Toronto-based financial services recruiting firm. Other moves noted in the “Bill’s Buzz” weekly newsletter include: * Marwan K... |
2024-11-17 | Bloomberg | Ontario Bonds Gain on Government Debt as Borrowing Reduced: Canada Credit | Yields on Ontario 10-year bonds are the tightest relative to federal benchmarks in seven months as foreign and domestic investors seek higher returns and Canada’s largest province forecasts reduced borrowing next year. Ontario’s 4.2 percent bonds due in June 2020 yielded about 70 basis points over the equivalent-maturi... |
2024-11-18 | Bloomberg | Manulife Says Rules Inhibit Deals, Lincoln Speculation ‘Insane’ | Manulife Financial Corp. , the Canadian insurer that bought John Hancock Financial for $13.9 billion in 2004, said uncertainty about increased regulation is stifling mergers and acquisitions in the industry. “This would be a very, very difficult time for us to go to the market or even go to our board and say, ‘Hey we’v... |
2024-05-17 | Bloomberg | Montreal Police Arrest 122 after Student Protest | Montreal police arrested 122 people overnight after demonstrators took to the streets and smashed shop windows to protest the Quebec government’s decision to suspend classes and draft legislation aimed at defusing a three- month dispute over tuition fees. Five bank branches had their windows shattered, Montreal’s polic... |
2024-04-04 | Bloomberg | World Cup Win to Enrich Indian Cricketers as BP, Canon Seek Endorsements | After smashing India to cricket World Cup victory, batsmen Yuvraj Singh and Gautam Gambhir may see a 30 percent jump in earnings as companies including BP Plc (BP/) and Canon Inc. (7751) vie for their endorsements. India’s vanquishing of neighbor Sri Lanka in the competition’s April 2 final came 28 years after it last ... |
2024-09-24 | Bloomberg | Canadian Stocks Advance as U.S. Durable-Goods Orders Increase | Canadian stocks rose to a second- straight weekly gain after U.S. capital-goods orders rebounded, boosting commodity prices and shares of financial companies. Manulife Financial Corp., North America’s third largest insurer, climbed 3.1 percent as all eight insurance companies in the main equity index gained. Teck Resou... |
2024-09-24 | Bloomberg | Malaysian Road Sukuk Shunned by Investors on Debt Revamps: Islamic Finance | Hong Leong Islamic Bank Bhd. and Manulife Asset Management (Malaysia) Sdn. say they are avoiding some toll-road Islamic debt in Malaysia as two highway operators submitted debt restructuring plans this year. Senai-Desaru Expressways Bhd., the builder of Malaysia’s third-longest highway, plans to conclude talks on reorg... |
2024-06-08 | Bloomberg | Canada Jobs and Housing Data Signal Economic Weakness | Weaker Canadian job creation and slower housing starts, along with falling exports, add to evidence growth in the world’s 10th-largest economy is slowing. Employers added 7,700 jobs in May, the fewest in three months, Statistics Canada said today from Ottawa, leaving the unemployment rate at 7.3 percent. The country al... |
2024-03-15 | Bloomberg | Canadian Stocks Decline as Investors Sell Gold to Raise Cash | Canadian stocks fell for a second day, led by precious-metal producers, as some investors sold metals to raise cash following declines in world equity markets. Barrick Gold Corp. (ABX) , the world’s largest producer, dropped 2.4 percent as the metal dropped the most since Jan. 4. Teck Resources Ltd. (TCK/B) , Canada ’... |
2024-03-14 | Bloomberg | Canadian Stocks Retreat as Uranium Shares Plunge After Earthquake in Japan | Canadian stocks fell, led by producers of uranium and other raw materials, as a new stimulus package from the Bank of Japan failed to stem the impact of the March 11 earthquake on global equity markets. Cameco Corp., the world’s second-largest uranium producer, sank 13 percent as Japan struggled to contain a disaster a... |
2024-03-14 | Bloomberg | Manulife Financial Says Japan Claims Won’t Exceed C$150 Million | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, said it doesn’t expect property and casualty claims related to the earthquake and tsunami in Japan to exceed C$150 million ($154 million). Claims related to Japan’s strongest earthquake aren’t expected “to be material to full-year results,” the Toronto- based ... |
2024-03-14 | Bloomberg | Cameco, Shaw Fall Most Since 1990s as Quake Generates Doubts About Nuclear | Uranium producer Cameco Corp. (CCO) and construction company Shaw Group Inc. (SHAW) plunged the most in more than a year on concern that a near-meltdown at a Japanese atomic plant will cripple investment in the nuclear industry. Companies ranging from General Electric Co. (GE) to Exelon Corp. (EXC) , owner of the large... |
2024-08-08 | Bloomberg | Birla to Tata Sell MCX as Crisis Roils Group: Corporate India | A payment crisis at a spot commodity bourse backed by the founder of India ’s newest stock market has prompted two of the nation’s biggest money managers to dump shares of his Multi Commodity Exchange of India Ltd. Birla Sun Life Asset Management Co. and Tata Asset Management Ltd. sold shares in the futures exchange f... |
2024-08-08 | Bloomberg | Manulife Profit Misses Analysts’ Estimates as Rates Rise | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, posted second-quarter profit that missed analysts’ estimates as increasing interest rates on bond funds pushed up liabilities. Net income was C$259 million ($249 million), or 12 cents a share, compared with a restated loss of C$281 million, or 17 cents, a year... |
2024-08-08 | Bloomberg | Asian Stocks Outside Japan Stocks Rise on China Exports | Asian stocks outside Japan rose after Chinese exports grew more than forecast. Japanese shares sank as the yen strengthened after the Bank of Japan maintained its stimulus policy. BHP Billiton Ltd., the world’s No. 1 mining firm, gained 1.2 percent in Sydney. Kubota Corp. climbed 1.6 percent after profit at the Japanes... |
2024-05-10 | Bloomberg | Sun Life Quarterly Earnings Increase Amid Equity Gains | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, said profit jumped 57 percent following two straight quarterly losses, helped by rising stock markets. Net income in the first quarter climbed to C$686 million ($684 million), or C$1.15 a share, from C$438 million, or 73 cents, a year earlier, the Toronto... |
2024-02-07 | Bloomberg | Harper Seeks China Access for Canada Finance With Oil as Lever | Prime Minister Stephen Harper begins the official part of his second visit to China in just over two years today as Canada seeks to deepen energy ties and win business for companies such as Manulife Financial Corp. (MFC) Harper, who is leading a delegation of more than 40 Canadian executives, will meet Premier Wen Jia... |
2024-11-10 | Bloomberg | Aviva Gets It Right on Corporate Bonds, Predicts More Gains: Canada Credit | Doug MacDonald , president of Aviva Investors Canada Inc. , got it right in July when he forecast corporate bonds would outperform government debt. He expects more of the same trend as earnings rebound. Canada’s corporate yield spreads have been slower to narrow than their U.S. and global counterparts, meaning the coun... |
2024-11-10 | Bloomberg | Great-West Lifeco Third-Quarter Profit Declines 38% | Great-West Lifeco Inc. , the owner of Boston-based Putnam Investments, said third-quarter profit declined 38 percent after the insurer took provisions for litigation. The stock had its biggest one-day decline in more than two months. Net income fell to C$275 million ($274 million), or 29 cents a share, from C$445 milli... |
2024-01-20 | Bloomberg | Canadian Stocks Cap Fifth-Straight Weekly Climb as Banks Rise | Canadian stocks rose, completing a fifth-straight weekly gain, as financial companies advanced after the country reported slower inflation. Royal Bank of Canada (RY) , the country’s largest lender by assets, climbed 1.4 percent after the country reported prices climbed less in 2011 than all 23 economists in a Bloomberg... |
2024-01-20 | Bloomberg | Maple Prepared to Extend TMX Bid Past Jan. 31 Pending Approvals | Maple Group Acquisition Corp., comprised of 13 Canadian financial-services firms, will extend its C$3.73 billion ($3.69 billion) offer for TMX Group Inc. (X) past a Jan. 31 deadline if it hasn’t received regulatory approvals to buy Canada ’s main equities and derivatives markets. The Oct. 30 agreement between Maple and... |
2024-10-03 | Bloomberg | Flaherty Names RBC’s Taylor to Canada Pension Plan Board | Finance Minister Jim Flaherty named Kathleen Taylor as a director of the Canada Pension Plan Investment Board, the nation’s largest retirement-fund manager. This marks the second appointment for Taylor in six weeks after she was named chairwoman at Royal Bank of Canada (RY) , the country’s biggest lender, starting next... |
2024-08-01 | Bloomberg | TMX Shares Trailing Exchange Peers as Volume Slumps | TMX Group Ltd. (X) is the worst-performing exchange stock in North America this year, as a rout in global commodity prices cuts equity trading volume and a bank-led competitor prepares to enter the business. Shares of Toronto-based TMX have dropped 7.6 percent in 2013, the only decline among a group of six North Americ... |
2024-11-19 | Bloomberg | Housing Trust Obtains Cheaper Rates as Foreign Demand Soars: Canada Credit | Canadian homebuyers are benefiting from concern that European governments can’t finance budget gaps. Canada Housing Trust, the financing arm of the nation’s housing agency , sold C$2.15 billion ($2.1 billion) in 3.35 percent bonds maturing in December 2020, as well as a C$2 billion of five-year floating-rate notes, at ... |
2024-11-19 | Bloomberg | Canadian Stocks Climb as Lenders Advance; Manulife Declines | Nov. 19 (Bloomberg) -- Canadian stocks rose, completing a weekly gain, as banks advanced on prospects of earnings growth and natural gas producers rallied with the commodity. Royal Bank of Canada, the country’s largest lender by assets, increased 1.9 percent as UBS AG named it its “most- preferred” Canadian bank stock.... |
2024-11-19 | Bloomberg | Manulife Seeks to Boost Profit With U.S., Asia Growth | Manulife Financial Corp. , the worst- performing financial stock in Canada this year, is aiming to increase profit to C$4 billion ($3.91 billion) by 2015 as it boosts sales in Asia and the U.S. Profit will be driven by the Boston-based John Hancock Financial unit and an expansion of equity and interest-rate hedging pro... |
2024-11-19 | Bloomberg | Bears Win 16-0 at Dolphins to Take Half-Game Lead in NFC North Division | Robbie Gould kicked three field goals as the Chicago Bears beat the Miami Dolphins 16-0. Gould kicked field goals in each of the first three quarters and Matte Forte scored the only touchdown of the game on a 2-yard run at Sun Life Stadium in Miami. Chicago moved a half-game ahead of the Green Bay Packers atop the Nati... |
2024-03-22 | Bloomberg | Canada to Allow Property and Casualty Insurers to Demutualize | Canada plans to establish rules that will allow policyholder-owned property and casualty insurance companies to demutualize. Finance Minister Jim Flaherty said the governing Conservative Party will provide “an orderly and transparent process and ensure that policyholders are treated fairly and equitably,” according to ... |
2024-12-01 | Bloomberg | Uranium Miner Battles Floods, Skepticism as Warhead Stockpiles Dwindle | Cameco Corp. plans to begin output at the world’s largest untapped uranium deposit in 2013, just in time to make up for a shortfall in global supplies. The project’s critics say it won’t happen. The Canadian company, the world’s second-largest uranium producer, is developing the Cigar Lake mine in Saskatchewan beneath ... |
2024-06-01 | Bloomberg | BofA, AmEx Leads Slump of Lenders as Job Growth Stalls | Wells Fargo (WFC) & Co. and Bank of America Corp. led a slump in financial stocks after a surprise increase in the U.S. jobless rate stoked fears of a stalling economy. Wells Fargo, the biggest U.S. home lender, declined 5.9 percent to close at $30.16 in New York, the most since October. Charlotte, North Carolina-based... |
2024-07-12 | Bloomberg | Rupiah, Won Will Lead Asian Currency Gains This Half, Top Forecaster Says | Indonesia’s rupiah and South Korea’s won will lead Asian currency gains for the rest of 2011 as central banks use appreciation to counter inflation, says Credit Suisse Group AG (CSGN) , the region’s most-accurate forecaster. The rupiah will climb 4.5 percent and the won 4 percent in the six months through Dec. 31, afte... |
2024-07-12 | Bloomberg | TMX Staying Independent More Likely Than Maple Buy, RBC Says | TMX Group Inc. (X) , the Toronto-based bourse owner that failed to sell itself to London Stock Exchange Group Plc (LSE) , is “slightly more likely” to remain independent than be taken over by 13 Canadian banks and pensions, according to RBC Capital Markets. The C$3.73 billion ($3.85 billion) bid by Maple Group Acquisit... |
2024-02-09 | Bloomberg | Canada Stability Will Entice Investors, Kinsale’s Franklin Says | Canadian capital markets will attract investment in 2012 due to the country’s relative stability, Margaret Franklin, chief executive officer of Kinsale Private Wealth Inc., said at a Bloomberg forum in Toronto. With Europe undergoing a debt crisis, the U.S. facing its own deficit problems and political risks such as re... |
2024-02-09 | Bloomberg | Manulife Confirms Opening of New Private Wealth Unit | (Corrects in first paragraph to say clients with at least C$1 million.) Manulife Financial Corp. (MFC) , Canada ’s largest insurer, confirmed it will open a new business that serves high net-worth Canadian clients with at least C$1 million in liquid assets. Manulife Chief Executive Officer Donald Guloien said in a tele... |
2024-02-09 | Bloomberg | Manulife Posts Fourth-Quarter Loss on Interest-Rate Declines | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, reported a second straight quarterly loss as low interest rates eroded investment returns. Chief Financial Officer Michael Bell, 48, plans to leave the company. The fourth-quarter net loss was C$69 million ($69.3 million), or 5 cents a share, compared with a y... |
2024-02-09 | Bloomberg | Manulife Falls on Finance Chief Departure: Toronto Mover | Manulife Financial Corp. (MFC) fell as much as 2.7 percent after Canada’s largest insurer announced that Chief Financial Officer Michael Bell is leaving after less than three years in the post. Manulife fell 2.4 percent to C$11.82 at 10:33 a.m. in trading on the Toronto Stock Exchange, the biggest one-day decline in tw... |
2024-08-06 | Bloomberg | TransCanada to Face Hurdles in Quest for Eastern Pipeline | TransCanada Corp., (TRP) facing opposition to its Keystone XL pipeline in the midwestern U.S., is encountering challenges at home from environmental groups and provincial lawmakers over a proposed C$12 billion ($11.6 billion) line to ship oil to the Atlantic Coast. The country’s second-biggest pipeline operator plans t... |
2024-08-06 | Bloomberg | John Hancock Loses Suit Over $560 Million in U.S. Taxes | John Hancock Life Insurance Co. (MFC) ’s bid for deductions on a series of leveraged lease transactions was denied by the U.S. Tax Court in a decision addressing a $560 million tax dispute. Judge Harry Haines accepted arguments by the U.S. Internal Revenue Service that “the substance of the transactions is not consiste... |
2024-08-06 | Bloomberg | HSBC, Oppenheimer, US Airways-AMR, EU Banks: Compliance | HSBC Holdings Plc (HSBA) , Europe’s largest lender, said possible damages from a lawsuit filed by a U.S. regulator over improperly sold mortgage-backed securities could cost the bank as much as $1.6 billion. The Federal Housing Finance Agency “alleges that the defendants caused hundreds of millions of dollars in damage... |
2024-01-11 | Bloomberg | Rail Traffic Surge Shows Canada Economy May Beat Growth Forecasts: Freight | A boom in traffic at Canadian National Railways Co. (CNR) and Canadian Pacific Railway Ltd. (CP) , the country’s two largest rail companies, may mean Canada ’s recovery will be buoyant even after economists and the Bank of Canada pared their outlook for growth this year. Canadian freight volumes accelerated in the four... |
2024-12-06 | Bloomberg | Birla Sun's Patil Bets on Indian Phone, Auto Stocks for Growth | Birla Sun Life Asset Management Co., India’s fifth-biggest fund manager, is betting phone companies and carmakers will extend gains next year in the world’s best performing major stock market as economic growth spurs spending. Bharti Airtel Ltd. , India’s biggest wireless operator, and Tata Motors Ltd. , the owner of J... |
2024-05-21 | Bloomberg | Dollar Bond Sales Stall in Asia as Costs Soar on Debt Crisis | Asian companies and sovereigns sold no dollar-denominated bonds last week for the first time since January after yields surged on the deepening debt crisis in Europe and slowing industrial output in China. China Petrochemical Corp., the refiner known as Sinopec Group, sold the last securities in the U.S. currency on Ma... |
2024-03-15 | Bloomberg | Great-West Awarded Loney C$4.44 Million in 2012, Filing Shows | Great-West Lifeco Inc. (GWO) awarded Chief Executive Officer Allen Loney C$4.44 million ($4.35 million) in compensation, excluding pension-servicing costs last year, the Winnipeg, Manitoba-based company said today in a regulatory filing. Loney was awarded C$4.12 million the previous year. To contact the reporter on thi... |
2024-03-15 | Bloomberg | Schroder Gets $200 Million Canada Life Loan to Pay Mortgage Bond | Schroder Real Estate Investment Trust Ltd. (SREI) is borrowing about 130 million pounds ($197 million) from Canada Life Investments to repay debt packaged into a mortgage-backed bond named Real Estate Capital (Foundation). The 15-year property loan expects to pay an interest rate of about 5 percent, according to a stat... |
2024-03-15 | Bloomberg | BTS Group’s Sky Train Fund Seeks $2.1 Billion in Thai IPO | A fund backed by revenue from Bangkok’s sky train is raising as much as 62.5 billion baht ($2.1 billion) in Thailand ’s biggest initial public offering. BTS Rail Mass Transit Growth Infrastructure Fund is offering 5.79 billion units at 10.4 baht to 10.8 baht apiece, according to a Securities and Exchange Commission fil... |
2024-08-09 | Bloomberg | Goldman Sachs Faces Growing List of Potential Mortgage Lawsuits | Goldman Sachs Group Inc. (GS) , the fifth- biggest U.S. bank by assets, was sued over its sale of mortgage- linked securities to now-failed credit unions hours after it disclosed a list of other potential complaints. The National Credit Union Administration filed a lawsuit in California today and said it’s seeking more... |
2024-08-10 | Bloomberg | Canadian Stocks Outperform U.S. Most Since ‘Black Monday’ | Canadian stocks rose, outperforming their U.S. peers by the most since October 1987, as gold producers rallied amid concern that the U.S. economic recovery is stalling and Europe won’t be able to contain its debt crisis. Barrick Gold Corp. (ABX) , the world’s largest producer, rose 6.2 percent as the precious metal cli... |
2024-04-02 | Bloomberg | Banro Leading Miners in Worst Drop Since 1990 | Canada ’s raw-materials stocks are forecast to extend their longest losing streak in more than 20 years, as companies such as Banro Corp. (BAA) and Teck Resources Ltd. (TCK/B) struggle with falling metals prices and concern China ’s growth will slow. The Standard & Poor’s/TSX Materials Index of 60 stocks posted its fif... |
2024-07-23 | Bloomberg | Canadian National Sees Soft 2nd Half as Bulk Market Slows | Canadian National Railway Co. (CNR) , the country’s largest railroad, said it may face a “challenging” second half because of “softness” in shipping bulk products such as grain. Chief Financial Officer Luc Jobin disclosed the company’s outlook yesterday on a conference call with analysts. Even so, the railroad reaffirm... |
2024-04-05 | Bloomberg | RBC Capital Lifts Issuance Forecast on Junk Surge: Canada Credit | Royal Bank of Canada (RY) , the top underwriter of Canadian corporate bonds for the past decade, is predicting record issuance this year led by a surge in high- yield debt. Bond sales in Canadian dollars will reach C$95 billion ($94 billion) this year, on pace to shatter 2006’s record C$93 billion, said Altaf Nanji, se... |
2024-04-05 | Bloomberg | Canadian Stocks Fall as Jobs Reports Miss Economists’ Estimates | Canadian stocks declined, sending the benchmark index toward its biggest weekly drop since May, after the country’s employment fell the most in four years and U.S. jobs data missed economists’ forecasts. Enbridge Inc. and Niko Resources Ltd. declined more than 1.7 percent as oil sank. Toronto-Dominion Bank slipped 1.4 ... |
2024-03-12 | Bloomberg | Euro Weakens Before Factory Data; Asian Shares, Palladium Fall | The euro weakened and European stocks extended a retreat from a 4 1/2-year high before reports forecast to show weaker manufacturing data in the region. Asian shares (MXAP) dropped from a 19-month high while palladium fell. The euro declined 0.3 percent versus the dollar as of 8:18 a.m. in London , and fell against mos... |
2024-03-12 | Bloomberg | Refuge From Legal Battle Spurs Best Bond Rally: Argentina Credit | Argentine companies are beating the government in the bond market by the most in 2 1/2 years as investors favor securities that won’t be ensnared by the nation’s legal dispute over defaulted debt. Speculation that Argentina might lose its appeal of a ruling and be forced to default for a second time since 2001 pushed i... |
2024-03-12 | Bloomberg | Royal Nickel Jumps After Tsingshan Agreement | Royal Nickel Corp. (RNX) , the owner of a nickel project in Quebec , gained the most in six months after the company signed a memorandum of understanding with Tsingshan Holding Group Co., a Chinese stainless-steel producer. Royal Nickel rose 22 percent to 39.5 Canadian cents at 9:57 a.m. in Toronto, where the company i... |
2024-03-12 | Bloomberg | Treasuries Halt Six-Day Drop, Dow Sets Another Record | Treasuries rose for the first time in seven days while Britain’s pound touched the lowest level since 2010 versus the dollar after U.K. industrial production unexpectedly declined. Most U.S. stocks fell, even as the Dow Jones Industrial Average climbed to another record. Ten-year U.S. note yields decreased four basis p... |
2024-03-13 | Bloomberg | Philippines Maps Policy Shift to Avert 1997 Risk: Southeast Asia | The Philippines is stepping up its battle against surging capital inflows with a plan to shift to a multiple interest-rate policy regime, as stocks at a record and the peso near a five-year high heighten asset-bubble risks. Bangko Sentral ng Pilipinas will probably use the rate on special deposit accounts and the overn... |
2024-11-29 | Bloomberg | Asia Debt Risk Tumbles to 16-Month Low; Taqa Plans Dollar Bonds | Asia debt risk is poised to fall to its lowest in 16 months as investors direct cash into emerging markets. Abu Dhabi National Energy Co., known as Taqa (TAQA) , is considering selling U.S. dollar-denominated bonds. A gauge measuring the cost of insuring corporate and sovereign bonds in Asia from non-payment is set for... |
2024-08-31 | Bloomberg | Irish Life’s Bank Loan Losses Surge as Mortgage Arrears Rise | Irish Life & Permanent Plc said loan losses at its banking unit more than doubled in the first half as mortgage arrears increased and house prices plunged. Irish Life’s cases of Irish mortgage customers at least 90 days behind in payments increased to 8.8 percent at the end of June from 6.8 percent from six months earl... |
2024-09-01 | Bloomberg | Canadian Stocks Retreat as Energy, Consumer Companies Decline | Canadian stocks fell for the first time in five days as consumer-discretionary and energy shares dropped on concern that the economic recovery is faltering. Crescent Point Energy Corp. (CPG) , a western Canadian oil and gas producer, declined 2.1 percent after saying it will sell shares. Shaw Communications Inc. (SJR/B... |
2024-07-15 | Bloomberg | China Wealth Proves Elusive as Stocks Earn 1% in 20 Years | China ’s 20-year economic boom has boosted the wealth of its 1.3 billion citizens at the fastest pace worldwide and spawned some of the biggest companies in history. Foreigners earned less than 1 percent a year investing in Chinese stocks , a sixth of what they would have made owning U.S. Treasury bills. The MSCI China... |
2024-09-14 | Bloomberg | Sun Life Advances to 10-Month High on Prospects for Equities | Sun Life Financial Inc. (SLF) rose to the highest since October on speculation Federal Reserve easing measures will boost global equities, bolstering Canada’s third- largest insurer’s earnings. The stock rose as much as 5.59 percent in Toronto today, the largest intraday increase since April 12, to C$24.95, the highest... |
2024-11-27 | Bloomberg | BlackRock’s iShares Sees ETF Market Doubling | IShares expects Canada’s exchange- traded fund market will double to about C$100 billion ($100.8 billion) in three to five years and the company plans to offer products and partnerships with firms such as Sun Life Financial Inc. (SLF) to maintain its No. 1 rank. IShares Canada, a unit of BlackRock Inc. (BLK) , the worl... |
2024-11-27 | Bloomberg | Bombardier Wins $7.8 Billion Order From U.K.’s VistaJet | Bombardier Inc. (BBD/B) won the biggest business-jet deal in its history with luxury air-charter company VistaJet Holding SA, exceeding a transaction five months ago with Warren Buffett ’s plane-leasing unit. VistaJet ordered 56 Global-series aircraft and took options for 86 more as it taps Asian demand. The deal has a... |
2024-11-28 | Bloomberg | Oil Falls to Lowest Level in Almost Two Weeks on Budget | Oil dropped to the lowest level in almost two weeks as concern mounted that negotiations to address the U.S. budget deficit will fail. Futures decreased 0.8 percent after U.S. Senate Majority Leader Harry Reid said yesterday he was disappointed with progress made during talks over $607 billion in tax gains and spending... |
2024-02-09 | Bloomberg | Harper Said to Urge China for Manulife Investment Approval | Canadian Prime Minister Stephen Harper urged his Chinese counterpart to approve proposed investments by Manulife Financial Corp. (MFC) and Bank of Nova Scotia as part of a broader effort to win greater access for Canadian companies in the Asian country. Harper, on a trip to China, said he spoke to Chinese Premier Wen J... |
2024-02-08 | Bloomberg | Canadian and Chinese Leaders Agree to Protect Investments | Canada and China reached an investment-protection agreement today, as the holder of the world’s third-largest oil reserves looks to deepen economic ties with Asia and lessen its reliance on the U.S. Neither side gave details about the agreement, announced after Canadian Prime Minister Stephen Harper met Chinese Premier... |
2024-02-08 | Bloomberg | Theratechnologies Plunges on Lack of Forecast: Montreal Mover | Theratechnologies Inc. (TH) , the developer of an HIV drug, sank the most in six months after failing to provide a sales forecast with its quarterly financial results. The Montreal-based company, which makes the medicine Egrifta, plunged 14 percent to C$2.26 after Chief Financial Officer Luc Tanguay declined to make es... |
2024-08-07 | Bloomberg | Sun Life Quarterly Profit Beats Estimates as Revenue Climbs | Sun Life Financial Inc. (SLF) , Canada ’s third-largest insurer, posted second-quarter profit that beat analysts’ estimates as wealth-management and insurance sales increased. Net income from continuing operations rose 60 percent to C$391 million ($375 million), or 64 cents a share, from C$244 million, or 41 cents, a y... |
2024-08-07 | Bloomberg | Home Capital Advances on Lowered Capital Decision | Home Capital Group Inc. (HCG) , Canada ’s largest alternative mortgage lender, gained the most on the Standard & Poor’s/TSX Financials Index after a regulator’s decision reduced the amount of loss-absorbing capital the bank has to hold against mortgages. Home Capital climbed 2.2 percent to C$64 at 9:55 a.m. in Toronto,... |
2024-08-08 | Bloomberg | Asian Stocks Advance After China Trade Data as Yen Slips | (Corrects German export growth in third paragraph) European stock-index futures rose after Chinese trade data beat estimates and companies from Nestle AG to Commerzbank AG posted results. Copper led metals higher and Australia’s dollar gained against all 16 major peers. The Euro Stoxx 50 Index climbed 0.4 percent at 7:... |
2024-08-07 | Bloomberg | WTI Crude Declines on Signs Fed to Curb Stimulus | West Texas Intermediate crude dropped, capping the biggest four-day slide in nine months, as Federal Reserve officials indicated that they may pare bond purchases that have bolstered the economy and energy demand. Futures declined 0.9 percent after Fed Bank of Chicago President Charles Evans said yesterday he “would cl... |
2024-08-07 | Bloomberg | Insurers Get Shot at $3 Trillion in Hatch’s Pension Plan | Senator Orrin Hatch is pushing an overhaul of public pensions that would let life insurers grab a bigger share of the $3 trillion in state and local funds, a potential windfall for companies such as MetLife Inc. (MET) and Prudential Financial Inc. (PRU) Public pensions invest their money with asset managers and use ga... |
2024-12-08 | Bloomberg | Canada Stocks Fall as Mining Shares Drop on Stronger U.S. Dollar | Canadian stocks fell for a second day, led by mining companies, as precious metal prices declined on speculation that an extension of U.S. tax cuts will boost growth and cut demand for alternative investments. Goldcorp Inc., Ivanhoe Mines Ltd., Barrick Gold Corp. and Silver Wheaton Corp. were among the biggest contribu... |
2024-03-24 | Bloomberg | Hong Kong Stocks Advance as Cnooc Earnings Beat Estimates | Hong Kong stocks advanced, sending the benchmark Hang Seng Index to its highest level in almost two weeks, after Cnooc Ltd. (883) posted earnings that exceeded analyst estimates and raw material suppliers gained. Cnooc, China ’s biggest offshore oil producer, climbed 2 percent after saying 2010 profit increased 85 perc... |
2024-03-24 | Bloomberg | Canada Stock Sales, IPOs May Top $40 Billion, Scotia Capital's Smith Says | Stock sales in Canada may eclipse the $40.6 billion reached in 2010 as demand for capital spreads beyond the resource sector, said Philip Smith, Scotia Capital’s deputy head of global investment banking. “This year promises to be above average, just based on the first quarter,” Smith said in an interview. “I think you’... |
2024-07-14 | Bloomberg | TMX Group Share of Trading Rises as Alpha Declines, IIROC Says | TMX Group Inc. (X) , the Toronto Stock Exchange owner mulling a takeover bid by a group of Canadian banks and pension funds, had 64.8 percent of the Canadian market for stock trading in June, up from 64.5 percent in May. Alpha Group, whose owners include Canada’s six largest banks, had 19.4 percent of the market by num... |
2024-07-14 | Bloomberg | Mumbai Blasts Won’t Impact Capital Markets, Birla Sun Life Says | A. Balasubramanian, chief executive officer of Birla Sun Life Asset Management Co., India ’s fifth biggest money manager with $15.2 billion in assets, comments on the outlook for Indian stocks. He spoke by phone today. Three bomb blasts hit Mumbai, India’s financial capital, last night, killing at least 17 people. The ... |
2024-06-07 | Bloomberg | Indian Stocks Rise to One-Month High as Singh Pledges Stimulus | Indian stocks climbed to the highest level in a month after Prime Minister Manmohan Singh pledged to revive growth in Asia’s third-largest economy. ICICI Bank Ltd. (ICICIBC) , the nation’s second-biggest lender, paced gains among its peers. Reliance Industries Ltd. (RIL) , owner of the world’s largest oil-refining comp... |
2024-01-10 | Bloomberg | Indonesia Raises $1.75B in Record Debt Sales | Indonesia drew orders for double the $1.75 billion of 30-year dollar-denominated bonds it offered for sale, a sign of investor confidence in developing economies during a record start to a year for emerging-market debt issues. Southeast Asia’s largest economy sold notes due January 2042 with a 5.25 percent coupon to yi... |
2024-11-18 | Bloomberg | Watsa Modeling Buffett Sparks Rally in Fairfax Debentures: Canada Credit | Investors are showing more confidence in Fairfax Financial Holdings Ltd. ’s debt than they have in at least six years after Chief Executive Officer Prem Watsa ’s bets against U.S. financial companies made it the most profitable insurer in Canada. The cost to insure the company’s debt fell to the lowest in at least thre... |
2024-11-18 | Bloomberg | Canadian Stocks Advance on Commodities Rally, Western Coal Bid | Nov. 18 (Bloomberg) -- Canadian stocks gained the most since August as oil and metals prices rallied on the prospect of a bailout for Ireland and Walter Energy Inc. offered to buy Vancouver-based Western Coal Corp. Suncor Energy Inc ., Canada’s biggest oil and gas producer, jumped 3.9 percent as oil rose the most in t... |
2024-11-18 | Bloomberg | Samsung Bets on Business Demand for Tablet PCs to Take on Apple's IPad | Samsung Electronics Co. , seeking to challenge the dominance of Apple Inc.’s iPad in the market for tablet computers, expects demand from businesses to help boost the sales of its touch-screen device. “There will be pretty big demand,” said Lee Don Joo , senior vice president of Samsung’s Mobile Communications Division... |
2024-01-17 | Bloomberg | Birla Hires Abu Dhabi Fund’s Vora to Head Offshore Business | Birla Sun Life Asset Management Co., the Indian venture of Canada ’s third-largest insurer, has hired Mihir Vora to manage its offshore equity funds. Vora, who has worked at the Abu Dhabi Investment Authority since March 2009, will manage 35 billion rupees ($686 million) at the Indian asset manager. Saman Khan, a spoke... |
2024-07-14 | Bloomberg | Canadian Stocks Fall as Mining Shares Decline; Gabriel Surges | Canadian stocks dropped for the first time in three days as energy and raw-materials producers fell on speculation the U.S. is unlikely to restart stimulus policies immediately. Copper producer First Quantum Minerals Ltd. (FM) lost 3.1 percent after receiving a “reduce” rating from an analyst at Arbuthnot Banking Group... |
2024-12-10 | Bloomberg | Canadian Stocks Rise as Exports Increase, BCE Boosts Dividend | Dec. 10 (Bloomberg) -- Canadian stocks rose, completing a second-straight weekly gain, as financial and telecommunications companies advanced after Canadian and U.S. exports increased and BCE Inc. boosted its quarterly dividend. BCE, Canada’s biggest phone company, advanced 2.9 percent after raising its dividend by 7.7... |
2024-12-09 | Bloomberg | Hong Kong Stocks Advance for Second Day as Insurers Climb on U.S. Upgrades | Hong Kong stocks rose for the second day this week. Insurance companies jumped after Standard & Poor’s raised its outlook for the U.S. life insurance industry and after UBS AG recommended Prudential Plc. Prudential Plc , the U.K.’s biggest insurer, surged 7.3 percent in Hong Kong after UBS added the stock to its Europe... |
2024-11-11 | Bloomberg | MetLife Halts Sale of New Long-Term Care Insurance | MetLife Inc. , the largest U.S. life insurer, will halt the sale of new long-term care coverage after citing “financial challenges” in the business. MetLife, led by Chief Executive Officer Robert Henrikson , is focusing on growth in Asia after buying a business from American International Group Inc. this month for $16.... |
2024-11-11 | Bloomberg | MFS, Fidelity Funds Among Hardest-Hit by Cisco Systems Drop After Earnings | Mutual funds run by Fidelity Investments and MFS Investment Management were among the hardest-hit by today’s declines in Cisco Systems Inc ., according to research firm Morningstar Inc. The $179 million MFS Technology Fund had 7 percent of assets in Cisco as of Aug. 31, the most among all actively managed stock funds, ... |
2024-11-11 | Bloomberg | Canadian Stocks Decline as Concern Over European Debt Mounts | Canadian stocks fell after Cisco Systems Inc. forecast profit below analysts’ estimates and European bond yields rose on concern over budget deficits. Toronto-Dominion Bank, Canada’s second-biggest lender by assets, retreated 0.8 percent as financial companies slumped for a third day. Suncor Energy Inc., Canada’s large... |
2024-11-12 | Bloomberg | Canada Stocks Fall as Chinese Interest Rate Concerns Weaken Oil | Canadian stocks fell the most in three months as oil and metals dropped on speculation that China will raise interest rates. Suncor Energy Inc., Canada’s largest oil and gas producer, declined 3.1 percent as crude futures retreated from a two-year high. Royal Bank of Canada, the country’s biggest bank, lost 1.3 percent... |
2024-07-26 | Bloomberg | Canadian Stocks Fall as U.S. Lawmakers Argue Over Debt Ceiling | Canadian stocks fell for a second day as financial companies dropped after President Barack Obama warned of a “deep economic crisis” if lawmakers there can’t agree on a plan to raise the debt ceiling by Aug. 2. Toronto-Dominion Bank (TD) , Canada ’s second-largest lender by assets, decreased 1.9 percent. Rogers Communi... |
2024-10-02 | Bloomberg | Twitter IPO Watchers Seek User Revenue That Tops Facebook | Investors awaiting their first peek at Twitter Inc.’s financials will focus on one key data point: how much the microblogging service makes from each pair of eyes. Twitter, which said last month that it confidentially filed for an initial share sale, will publicly disclose its prospectus this week, according to people ... |
2024-10-02 | Bloomberg | WTI Crude Rises on Planned Gulf Pipeline Completion | West Texas Intermediate crude rose for the first time in four days after TransCanada Corp. said it expects to complete work on the southern portion of its Keystone pipeline expansion by the end of October. The spread between WTI and Brent oil, the European benchmark, narrowed the most in two weeks on speculation that t... |
2024-03-16 | Bloomberg | Search for China Proxy Drives Best Corporate Bond Gains: Australia Credit | Australian corporate bonds, the developed world’s best performers this year, are attracting investors in pursuit of gains from China without the risk of higher inflation rates in the fastest-growing major economy. Company debt returned 2.9 percent this year, beating the U.S., U.K., Canada , Europe and Japan, Bank of Am... |
2024-08-09 | Bloomberg | Lesiak Hired at Canaccord, Markus Kiraly Joins TD, Vlaad Says | Tony Lesiak rejoined Canaccord Genuity as managing director and head of Canadian mining research from Macquarie Capital Markets , according to Vlaad & Co., a Toronto-based financial services recruiting firm. Other moves noted in the “Bill’s Buzz” weekly newsletter include: * Toronto-Dominion Bank hired Markus Kiraly fr... |
2024-05-18 | Bloomberg | Oil Climbs Above $100 After Report Shows Unexpected Drop in U.S. Supplies | Crude oil climbed above $100 a barrel in New York after an Energy Department report showed an unexpected drop in U.S. inventories as refineries bolstered operating rates and imports declined. Oil advanced 3.3 percent after the department said supplies fell 15,000 barrels to 370.3 million last week. Inventories were for... |
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