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2024-12-23 | Bloomberg | Asian Growth Forecasts Cut by Fitch as Singapore Output Declines: Economy | Singapore ’s industrial production unexpectedly declined in November, adding to evidence of a weakening Asian outlook that prompted Fitch Ratings to cut its growth forecasts for the region. The island’s output fell for the first time in six months, putting pressure on policy makers to support growth even as a separate ... |
2024-02-13 | Bloomberg | Sun Life Beats Estimates as North American Units Gain | Sun Life Financial Inc ., a Canadian insurer, reported a fourth-quarter profit that beat analysts’ estimates as North American and Asian operations improved. Net income was C$395 million ($394.4 million), or 65 cents a share, compared with a net loss of C$525 million, or 90 cents, a year earlier, the Toronto-based insu... |
2024-02-13 | Bloomberg | WTI Oil Falls on Iran Nuclear Negotiations | West Texas Intermediate oil in New York fell after Iran said it was nearing agreement with nuclear inspectors and as the Energy Information Administration said U.S. crude output rose to the highest level in 20 years. Prices dropped 0.5 percent as Iran’s state-run Press TV quoted Ali Asghar Soltanieh , the country’s env... |
2024-07-30 | Bloomberg | Provincials Avoid `Summer Lull' by Tripling Sales in July: Canada Credit | Canadian provincial bond sales reached a record for July and may continue apace after concern over the European sovereign debt crisis and tensions surrounding a Group of 20 conference crimped some borrowing. Provinces issued C$7 billion ($6.8 billion) of debt through July 28, more than triple the 10-year monthly avera... |
2024-07-30 | Bloomberg | Economic Growth in U.S. May Show Consumer Spending Cooled | The U.S. economy probably grew in the second quarter at about the same pace as in the prior three months, driven by a pickup in business investment as consumer spending cooled, economists said ahead of a report today. The 2.6 percent gain in gross domestic product from April through June would follow a 2.7 percent fir... |
2024-10-17 | Bloomberg | Fiera Hunts Acquisitions as Stock Outperforms | Fiera Capital Corp. (FSZ) , the best- performing wealth manager among its North American peers this year, is looking for acquisitions of companies with assets of up to C$2 billion ($2.04 billion), President and Chief Operating Officer Sylvain Brosseau said. Fiera, which oversees about C$54 billion, has climbed 22 perce... |
2024-10-18 | Bloomberg | Manulife Betting on Australian Debt as South Korea May Rally | Manulife Asset Management expects investment-grade debt from Australia and South Korea will drive gains in its Asian bond funds as their central banks cut interest rates to counter slowing economic growth. “Absolute yield levels in Asia are still offering value in certain markets,” said Endre Pedersen, managing directo... |
2024-10-10 | Bloomberg | Canada Stocks Fall to 1-Month Low as Alcoa Cuts Aluminum Outlook | Canadian stocks fell to the lowest level in almost five weeks after Alcoa Inc. cut its aluminum outlook on weakening demand in China, the world’s biggest commodities consumer. Niko Resources Ltd., an oil and gas explorer, slumped 8.5 percent. Enbridge Inc. (ENB) retreated 1 percent. AuRico Gold Inc. (AUQ) surged 21 per... |
2024-09-08 | Bloomberg | Canadian Life Insurers Facing ‘Headwinds,’ A.M. Best Says | Canada’s life insurance industry, which has a “stable” rating outlook from A.M. Best Co., may experience “headwinds” as the companies’ risk profile rises, analysts for the ratings firm said. Insurers face pressure from persistent low interest rates, volatile equity markets and the effect of global contagion, A.M. Best ... |
2024-02-14 | Bloomberg | AMMB Said to Hire Morgan Stanley to Sell Insurance Stake | AMMB Holdings Bhd ., a Malaysian lender, has hired Morgan Stanley to sell about half of its life insurance operations as it seeks a new partner to develop the business, said two people with knowledge of the matter. AMMB may seek as much as 500 million ringgit ($162 million) for the stakes in AmLIFE Insurance Bhd. and A... |
2024-05-03 | Bloomberg | Payrolls in U.S. Probably Climbed Even Amid Budget Cuts | Employers probably took on more staff in April than in the prior month and the jobless rate held at a four-year low, indicating the U.S. labor market withstood the initial stages of federal budget cuts, economists said before a report today. The Labor Department said it expects to go forward with the release of the Apr... |
2024-05-03 | Bloomberg | Poloz Hire at Central Bank Signals Weaker Loonie: Canada Credit | Stephen Poloz’s appointment as head of the Bank of Canada may signal a weaker currency and lower borrowing costs as the world’s 11th-largest economy looks to exports to revive growth. Poloz, the former chief executive officer of Export Development Canada , a trade financing agency, was named yesterday by Finance Minist... |
2024-07-08 | Bloomberg | Reliance, Mahindra Gain as Indian Stocks Advance on IMF's Growth Outlook | Indian stocks climbed the most in a week after the International Monetary Fund raised the growth outlook for the South Asian nation. Tata Steel Ltd. led a rally in raw material producers after the nation’s steel consumption increased in June. India’s gross domestic product may expand 9.4 percent this year, the IMF sai... |
2024-09-30 | Bloomberg | Eight Regions Bid to Host 2016-17 College Football Title Games | New Orleans , South Florida and the San Francisco Bay area are among eight bidders seeking to stage the 2016 or 2017 college football national championship games. AT&T Stadium in Arlington, Texas , was picked earlier to host the inaugural title game on Jan. 12, 2015, under the new four-team playoff format. Cities or re... |
2024-09-30 | Bloomberg | SNC Hires Morgan Stanley-RBC Team to Study AltaLink Sale | SNC-Lavalin Group Inc. (SNC) , Canada ’s biggest engineering and construction company, hired Morgan Stanley (MS) and Royal Bank of Canada to help sell an equity stake in its AltaLink power-transmission unit. SNC will explore all options for the unit, including a private sale, public market alternatives or strategic par... |
2024-07-30 | Bloomberg | Vietnam Bonds Advance on Rate, Inflation Outlook; Dong Stable | Vietnam ’s government bonds gained, with the three-year yield sliding the most since May, after the central bank forecast lower inflation and borrowing costs by the end of the year. The dong was little changed. Interest rates on the dong deposits could drop below 8 percent if annual inflation slows to less than 7 perce... |
2024-11-04 | Bloomberg | Banks Retaking Property-Loan Turf Punish Newcomers: U.K. Credit | Private-equity firms, pension funds and insurers face dwindling returns on loans to the U.K. commercial property market as competition intensifies from banks that shunned the business after the financial crisis. A new lender has entered the market almost every week in the past year in search of higher returns as gilt y... |
2024-04-17 | Bloomberg | Canadian Stocks Rally on Oil Gain, Higher IMF Forecast | Canadian stocks rallied following a two-day drop as energy producers advanced after the International Monetary Fund and the Bank of Canada said economic growth will be faster than they had previously forecast. Suncor Energy Inc. (SU) , Canada’s largest oil and gas producer, rose 2 percent. Uranium producer Denison Mine... |
2024-04-17 | Bloomberg | Carney Likely to Hold Canada Rates Amid Global Risks | The Bank of Canada is unanimously forecast to keep its key interest rate unchanged for a 13th time today, with economic risks from Europe still outweighing signs of faster consumer spending at home. Governor Mark Carney will keep the target rate on overnight loans between commercial banks at 1 percent, where it’s been ... |
2024-04-17 | Bloomberg | Indonesia to Sell $2.5 Billion of 2022, 2042 Bonds Overseas | Indonesia is planning to sell $2.5 billion of bonds overseas, tapping global investors to spur economic growth for the second time this year after winning an investment-grade rating. The Southeast Asian country is offering $2 billion of 10- year bonds to yield 3.85 percent, according to a person familiar with the matte... |
2024-05-04 | Bloomberg | CANADA DAYBOOK: Sun Life, Talisman Energy to Report Earnings | Sun Life Financial Inc. (SLF) and Talisman Energy Inc. (TLM) are among companies reporting first-quarter results today. EVENTS: *Sun Life Financial Inc., Canada ’s third-largest insurer, is scheduled to release first-quarter results after the markets close. The insurer is expected to report profit before one-time items... |
2024-05-04 | Bloomberg | Sun Life Financial First-Quarter Profit Rises on U.S. Units | Sun Life Financial Inc. (SLF) , Canada ’s third-biggest insurer, said profit rose 5.8 percent in the first quarter on higher earnings at its U.S. businesses. Net income climbed to C$438 million ($457 million) or 73 cents a share, from C$414 million, or 70 cents a year earlier, the Toronto-based insurer said today in a ... |
2024-05-03 | Bloomberg | Harper Conservatives Win Majority for First Time in Canada Vote | Canadian Prime Minister Stephen Harper won a majority of seats in Parliament for the first time, giving him a mandate to fund corporate and personal income tax cuts with curbs on spending. Harper’s Conservatives were ahead or leading in 166 districts, according to preliminary results from Elections Canada. Jack Layton’... |
2024-05-03 | Bloomberg | Canadian Bonds Advance as Harper’s Conservatives Win Majority in Election | Canadian government bonds strengthened after Conservative Prime Minister Stephen Harper won a majority government for the first time, allowing him to pursue plans to erase the budget deficit and cut corporate taxes. The yield on the nation’s 10-year debt fell as much as six basis points, or 0.06 percentage points, to 3... |
2024-03-08 | Bloomberg | Malaysia Builders Trailing Most Since 2007 Lure CLSA on $16 Billion Plan | Malaysian construction stocks are trailing regional peers by the most since 2007, a buy signal to CLSA Ltd. and Manulife Asset Management as the government’s $16 billion building plan sends profit estimates to a record. While the Bursa Malaysia Construction Index (KLCON) climbed 6.7 percent this year through February, ... |
2024-06-24 | Bloomberg | Switch to Canadian Insurers From Banks as Yields Rise, UBS Says | Canadian equity investors should switch to insurers from banks in preparation for an increase in bond yields, says George Vasic, a strategist at UBS AG. Vasic and Garry Cooper, another Toronto-based strategist for Switzerland ’s largest bank, substituted Manulife Financial Corp. (MFC) , North America ’s fourth-largest ... |
2024-06-24 | Bloomberg | LSE Loses With TMX Whether Bid Succeeds or Fails at Loonie Price: Real M&A | In the bidding war for TMX Group Inc. (X) , London Stock Exchange Group Plc (LSE) may need to make an offer it can’t afford for a deal it can’t afford to lose. The London-based bourse, which announced in February its all-stock offer for the owner of the Toronto Stock Exchange, raised its bid valued at C$44.93 a share t... |
2024-03-31 | Bloomberg | Indonesian Parliament Approves Conditional Fuel-Price Increase | Indonesia ’s parliament has given the government conditional authority to raise fuel prices, after President Susilo Bambang Yudhoyono’s Democrat Party dropped its push for an April 1 increase. Lawmakers voted 356 to 82 in favor of a proposal by the Democrats to allow an increase if the Indonesia Crude Price, or ICP, ex... |
2024-10-26 | Bloomberg | Rogers Third-Quarter Profit Drops 24% on Competition From Wireless Rivals | Rogers Communications Inc. , Canada’s largest wireless carrier, said third-quarter profit declined 24 percent as it added fewer subscribers and spent more on current customers’ phone upgrades. The stock slumped. Net income dropped to C$370 million, or 64 cents a share, from C$485 million, or 79 cents, a year earlier, T... |
2024-10-27 | Bloomberg | Canadian Stocks Fall as U.S. Dollar’s Rise Weakens Commodities | Canadian stocks fell the most in two months as metal and crude oil prices dropped on a stronger U.S. dollar and Canadian National Railway Co. failed to boost its profit forecast. CN, the country’s biggest railroad, lost 3.4 percent after at least three analysts reduced their rating on the stock. Barrick Gold Corp ., th... |
2024-10-26 | Bloomberg | Financial Bonds Lag Behind as Investors Reject Lower Yields: Canada Credit | Bond returns at Canada’s banks, deemed the world’s safest for three years running, are trailing international rivals as investors seek higher-yielding assets on speculation the global recovery will strengthen. The Bank of America Merrill Lynch Canadian Financials Index, with about C$147 billion ($144.1 billion) outstan... |
2024-10-26 | Bloomberg | FTSE 100 Drops to Two-Week Low as Arm, Cairn Costs Overshadow U.K. Growth | U.K. stocks dropped as declines in ARM Holdings Plc and Cairn Energy Plc overshadowed faster-than- estimated economic growth. ARM, the designer of semiconductors that power Apple Inc.’s iPhone, slumped 5.9 percent after saying operating costs rose. Cairn Energy tumbled the most in 19 months after writing off the cost o... |
2024-06-12 | Bloomberg | Acerinox, Iliad SA, LVMH, RCS, Telefonica, Unipol: European Equity Preview | The following companies’ shares may be active in European trading. Stock symbols are in parentheses. The Stoxx Europe 600 Index declined 1.3 percent to 268.13. The Stoxx 50 Index fell 1.3 percent to 2,508.77. The Euro Stoxx 50 Index, a benchmark for nations using the euro, dropped 1.6 percent to 2,732.54. Acerinox SA (... |
2024-06-12 | Bloomberg | Four Companies Join Maple Group’s Rival Bid for TMX Group | Desjardins Financial Group, Dundee Capital Markets Inc., GMP Capital Inc. (GMP) and Manulife Financial Corp. (MFC) joined a group of Canadian banks and pension funds seeking to buy TMX Group Inc. (X) in a rival proposal to a takeover by the London Stock Exchange Group Plc. (LSE) The Maple Group Acquisition Corp. added... |
2024-03-10 | Bloomberg | Viterra Gets Expressions of Interest From Third Parties | Viterra Inc. (VT) , Canada ’s largest grain handler, received expressions of interest from third parties just as the company plans to capitalize on the end of the Canadian Wheat Board’s marketing monopoly. There can be no assurance that there will be an agreement or a deal, the Regina, Saskatchewan-based company said t... |
2024-03-09 | Bloomberg | Canadian Stocks Rise as U.S. Payrolls Increase | Canadian stocks rose, trimming a weekly loss, as insurance, base-metals and manufacturing shares advanced after the U.S. reported a bigger gain in payrolls than most economists in a Bloomberg survey had forecast. Manulife Financial Corp. (MFC) , North America ’s third-largest insurer, advanced 1.8 percent. Viterra Inc.... |
2024-03-09 | Bloomberg | Canada’s Unexpected Job Loss Underscores Outlook for Slow Economic Rebound | Reports of declines in Canada ’s job market and exports underscore that the country’s economic recovery may be a slow one. Employment fell by 2,800 in February, the third drop in five months and one that wasn’t anticipated by any of the 25 economists in a Bloomberg News survey. Some 37,900 people left the workforce in ... |
2024-09-13 | Bloomberg | Europe Stocks Post Best Week Since April on Economic Data | (Corrects size of Stoxx 600 rally in third paragraph of story published Sept. 6.) European stocks posted their biggest weekly advance in more than four months as U.S. unemployment remained at a four-year low and manufacturing growth in the world’s two largest economies beat projections. Nokia Oyj (NOK1V) surged 41 perc... |
2024-09-06 | Bloomberg | Canadian Stocks Fall From 5-Month High Amid Jobs Data, Syria | Canadian stocks fell, after reaching a five-month high, as technology companies dropped and investors weighed reports on domestic and U.S. jobs growth amid growing tensions between America and Russia over Syria. BlackBerry Ltd. (BB) dropped 2.7 percent, snapping three days of gains. Bombardier Inc. lost 1 percent after... |
2024-06-16 | Bloomberg | Canadian Stocks Decline as Debt Crisis in Europe Intensifies | Canadian stocks fell for a second day as raw-materials producers declined on concern Europe ’s worsening debt crisis will slow the global economic recovery. Goldcorp Inc. (G) , the world’s second-biggest producer of the precious metal by market value, slipped 2.9 percent as the U.S. dollar gained against most other maj... |
2024-06-15 | Bloomberg | Quebec’s Premier Supports Maple’s All-Canadian Bid for TMX | Quebec is backing an all-Canadian takeover bid of TMX Group Inc. (X) as the Toronto Stock Exchange owner seeks to build investor support for its C$3.42 billion ($3.53 billion) deal with the London Stock Exchange Group Plc. (LSE) Quebec Premier Jean Charest said he supports the bid by Maple Group Acquisition Corp., led... |
2024-06-15 | Bloomberg | LSE Would Sacrifice Canada With TMX Deal, Maple Group CEO Says | A C$3.58 billion ($3.65 billion) all-Canadian bid to buy the Toronto Stock Exchange owner would preserve the health of Canadian companies and the domestic economy, Maple Group Acquisition Corp. Chief Executive Officer Luc Bertrand said. “The LSE proposal makes no sense when weighed against Maple’s alternative,” Bertran... |
2024-10-21 | Bloomberg | Provincial Debt Overtakes Corporates as Funding Need Eases: Canada Credit | Canadian provincial bonds are outperforming corporate issues during the second half of the year, reversing the first-half outcome, as provinces complete borrowing and benefit from overseas and safety demand. Provincials are headed for a sixth straight month of positive returns, the most since the nine-month streak ende... |
2024-02-25 | Bloomberg | Emerging-Market Stocks Rise for First Time This Week on Oil Drop | Emerging-market stocks rebounded from a four-day decline as crude oil retreated below $100 a barrel, easing concerns the global economic recovery will slow. The MSCI Emerging Markets Index climbed 0.6 percent to 1,094.05 at 1:42 p.m. in Singapore , paring the week’s decline to 2.5 percent. Taiwan’s Taiex Index gained 0... |
2024-05-02 | Bloomberg | Manulife Profit Declines as Insurance Sales Fall | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, said first-quarter profit dropped 56 percent on charges related to equity markets and interest rates, and as insurance sales in Asia and Canada declined. Net income fell to C$540 million ($535.8 million), or 28 cents a share, from C$1.23 billion, or 63 cents, ... |
2024-05-02 | Bloomberg | Putnam Investments Buyer Retires as Great-West Grows | Great-West Lifeco Inc. (GWO) , the owner of Putnam Investments, said Chief Executive Officer Allen Loney will retire and that Raymond L. McFeetors will step down as chairman. Chief Operating Officer Paul A. Mahon, 49, will succeed Loney, and R. Jeffrey Orr, a director since 2002, has been appointed to succeed McFeetors... |
2024-05-02 | Bloomberg | Canada Stocks Rise as Commodities Rebound, Financial Shares Gain | Canadian stocks rose, erasing an earlier loss, as commodities prices rebounded and better-than- estimated earnings from Manulife Financial Corp. boosted financial shares. Canadian Natural Resources Ltd. advanced 1.7 percent as crude rose the most in almost six months. Yamana Gold Inc. added 2.7 percent as gold gained t... |
2024-09-12 | Bloomberg | Canadian Stocks Fall as Financial Shares Slump, Metals Retreat | Canadian stocks fell for a third day as financial companies dropped amid intensifying concern that Greece may default while mining companies slumped after the U.S. dollar touched the highest level since February. Toronto-Dominion Bank (TD) , Canada ’s second-largest lender by assets, declined 2.1 percent as Greek two-y... |
2024-02-15 | Bloomberg | Billionaires Feud Over Cash to Fix Dolphins Field: Taxes | Billionaires Norman Braman and Miami Dolphins owner Stephen Ross are battling over whether state taxpayers should pay almost half the cost of a $400 million plan to fix up the football team’s home field. Braman, a former owner of the Philadelphia Eagles, says Ross alone should pay for improvements, including a roof for... |
2024-02-15 | Bloomberg | Emerging Stock Swings at 15-Year Low as Russia Retreats | Swings in emerging-market stocks abated to the least since 1997 as the benchmark index capped its best week in a month. Shares in Russia fell while stocks traded in Hong Kong rose for a second day. OAO Sberbank , Russia’s largest lender, dropped 2.5 percent, while the Moscow Exchange traded below its offer price after ... |
2024-02-15 | Bloomberg | Rogers CEO Plans to Step Down in January 2014 | Rogers Communications Inc. Chief Executive Officer Nadir Mohamed plans to retire next January, a surprise move that sent Canada’s largest wireless carrier in search of a new leader for the second time in four years. The board will appoint a search firm and begin looking internationally for a replacement, the Toronto-ba... |
2024-06-26 | Bloomberg | GSW Says Top Executives Resign After Investor Rebuke | GSW Immobilien AG (GIB) , Berlin’s largest residential landlord by market value, said both its chairman and chief executive officer will quit after investors protested how the CEO was hired. The shares rose the most since November 2011. CEO Bernd Kottmann and Chairman Eckart John von Freyendwill leave in July, GSW said... |
2024-10-12 | Bloomberg | Workday Surges in First Day of Trading After IPO | Workday Inc. (WDAY) , a maker of Web-based human-resources programs, jumped 74 percent in its trading debut after raising $637 million in its initial public offering, pricing the shares above an increased range. The shares advanced to $48.69 in New York, for a valuation of $7.8 billion. They earlier reached a high of $... |
2024-10-11 | Bloomberg | Workday Commands IPO Premium With Web Challenge to Oracle | Workday Inc. (WDAY) , a maker of Web-based payroll and human resources programs, is betting it deserves a higher valuation than all other business software providers to hit the public markets in the past year. The company plans to raise as much as $591.5 million in its initial public offering today. The middle of the $... |
2024-10-11 | Bloomberg | Canadian Trade Deficit Narrows From Record on Import Drop | Canada ’s merchandise trade deficit narrowed more than economists forecast in August from the prior month’s record on the steepest decline in imports in more than three years. The deficit of C$1.32 billion ($1.35 billion) followed a revised shortfall of C$2.53 billion in July, Statistics Canada said today in Ottawa. Ec... |
2024-07-09 | Bloomberg | Canadian Finance Regulator Increases Scrutiny of Insurers, Globe Reports | Canada’s financial-services regulator is conducting stress tests on the country’s life insurers to see if they can withstand a major pandemic or stock market crash, the Globe and Mail reported, citing unidentified people. The Office of the Superintendent of Financial Institutions asked 20 life insurers to run mathemat... |
2024-08-22 | Bloomberg | World’s Soundest Banks See Lower Profit: Corporate Canada | Canada ’s banks, the most stable in the world, will probably post the lowest profit growth in two quarters as consumer lending eases and spending subsides ahead of a potential housing slowdown. Profit before one-time items among Canada’s six main banks, led by Bank of Nova Scotia , rose an average of 6 percent in the p... |
2024-06-14 | Bloomberg | Treasuries Rise Second Day Amid Waning Bets Fed Will Slow Buying | Treasuries advanced for a second day as some investors dismissed as overblown speculation that the Federal Reserve was about to slow its bond-buying stimulus program aimed at holding down borrowing costs. Ten-year notes extended gains after climbing the most yesterday in almost four months and rose for the first week s... |
2024-09-07 | Bloomberg | Manulife Plans to Increase Agents in Hong Kong by 50 Percent | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, seeks to boost the number of agents selling insurance, pension and mutual-fund products in Hong Kong by about 50 percent. The firm has about 4,600 independent agents exclusively selling products in the city and wants to increase that to about 7,000 by 2015, sa... |
2024-09-07 | Bloomberg | Carney May Keep 1% Canada Rate While Dropping Language on Future Increases | The Bank of Canada will probably leave its main interest rate unchanged today and signal it will stay low for longer than policy makers previously anticipated, economists said. Governor Mark Carney will hold the Ottawa-based central bank’s target for overnight loans between commercial banks at 1 percent, where it’s bee... |
2024-04-27 | Bloomberg | Home Prices Probably Increased First Time in 3 Years | The trend in U.S. home prices probably turned up in February for the first time in more than three years, and consumers became less pessimistic this month as the jobs picture brightened, economists projected reports today will show. The S&P/Case-Shiller index of property values in 20 cities climbed 1.3 percent from Fe... |
2024-06-13 | Bloomberg | Sobeys’ Debt-Fuelled Safeway Buyout Puts Rating at Risk | Sobeys Inc.’s investment-grade ratings are at risk after Canada ’s third-largest supermarket chain agreed to buy Safeway Inc. (SWY) ’s Canadian stores using C$2.63 billion ($2.58 billion) in debt. The deal will push leverage, or debt as a ratio of cash flow, to 4 times from 2.2 times, and beyond the limit of what Stand... |
2024-06-13 | Bloomberg | Canada’s Manulife Plans to Accelerate Growth in Indonesia | Manulife Financial Corp. (MFC) , Canada’s largest insurer, will seek to benefit from Indonesia ’s economic growth by adding staff and branches and teaming up with local banks, an executive said. Manulife plans to have its 11 Asian units contribute 40 percent, or C$1.6 billion ($1.57 billion), of its core profit goal of... |
2024-01-04 | Bloomberg | Sun Life CEO Bets on Smaller Acquisitions for Growth | Sun Life Financial Inc. (SLF) rallied 40 percent last year as investors rewarded decisions to shed riskier assets and emphasize insurance and wealth management. Chief Executive Officer Dean Connor says the narrower focus can still boost earnings in 2013. “This is a transformational change for Sun Life that substantiall... |
2024-01-04 | Bloomberg | Canada Jobless Rate Falls to Four-Year Low | Canada ’s unemployment rate unexpectedly fell to a four-year low in December as hiring rose for a fifth month, led by full-time jobs at private companies. The country’s jobless rate fell to 7.1 percent from 7.2 percent and employment rose by 39,800, Statistics Canada said today in Ottawa. None of the 23 economists surv... |
2024-10-18 | Bloomberg | Swaps Collateral, Egypt Sukuk Start, SEC-Bond: Compliance | Goldman Sachs Group Inc. (GS) , Morgan Stanley (MS) and other trading firms would face higher collateral costs under swaps-market rules proposed by the U.S. Securities and Exchange Commission. SEC commissioners voted 5-0 yesterday to seek public comment on collateral requirements for swaps that remain in the over-the-c... |
2024-08-31 | Bloomberg | Taiwan Signs Yuan Clearing Deal With China, Creates New Rate | The central banks of Taiwan and China signed a yuan clearing agreement as Asia’s biggest economy pushes the use of its currency in international trade. Taiwan will allow interbank trading of the yuan, creating a new exchange rate for the currency, Governor Perng Fai-nan said today. The two monetary authorities are also... |
2024-05-29 | Bloomberg | Carney Praised While Leaving Canadian Stalemate: Economy | Mark Carney leaves the Bank of Canada this week receiving praise for sparing the country the worst of the global recession even as he bequeaths to his successor an economy saddled with consumer debt. Carney, who kept the key interest rate at 1 percent for the 22nd consecutive announcement today, departs June 1 to take ... |
2024-09-22 | Bloomberg | Canadian Stocks Fall as World Data Signal Slower Economic Growth | Canadian stocks fell to the lowest since August 2010 after economic data from Europe , North America and China indicated the global recovery may be slowing and fuel and metal prices dropped on a stronger U.S. dollar. Barrick Gold Corp. (ABX) , the world’s largest gold producer, declined 6.4 percent, sinking with precio... |
2024-02-01 | Bloomberg | CGI Has $1.1 Billion to Hunt for Acquisitions: Corporate Canada | CGI Group Inc. (GIB/A) Chief Executive Officer Michael Roach says Canada ’s biggest technology company is considering more acquisitions after completing the C$2.7 billion ($2.7 billion) purchase of Logica Plc. “We never like to take any levers off the table,” Roach said in a Jan. 30 interview in Montreal. “We have to m... |
2024-05-16 | Bloomberg | European Stocks Little Changed Near Five-Year High | European stocks were little changed, after the benchmark Stoxx Europe 600 Index yesterday extended its highest level since June 2008. Zurich Insurance Group AG (ZURN) lost 3.3 percent after reporting earnings that missed estimates. Suedzucker AG (SZU) tumbled 6.7 percent after forecasting full-year operating profit wil... |
2024-05-16 | Bloomberg | Canadian Stocks Little Changed as Bank, Phone Shares Offset Gold | Canadian stocks were little changed as a rally in phone and bank shares offset a slump in gold prices that dragged mining stocks lower. Telus Corp. rallied 0.9 percent after Canada ’s third-largest wireless operator agreed to buy the struggling mobile-phone provider Mobilicity for C$380 million ($373 million). Royal Ba... |
2024-10-05 | Bloomberg | Vietnam Five-Year Bonds Drop for Seventh Week on Inflation Risk | Vietnam’s benchmark five-year bonds fell for a seventh week, their longest losing streak in more than four years, on speculation inflation will accelerate. The dong was little changed. Consumer-price gains may be about 7 percent by the end of 2012 and 9.4 percent by the end of 2013, the Asian Development Bank’s Vietnam... |
2024-07-22 | Bloomberg | Purchases of U.S. Existing Homes Probably Dropped as Credit's Effect Waned | Sales of U.S. previously owned homes probably fell in June for a second month, adding to evidence the market will slump as the effects of a government tax credit fade, economists said before a report today. Purchases dropped 9.9 percent from May to a 5.1 million annual rate, according to the median of 74 forecasts in ... |
2024-12-09 | Bloomberg | Canadian Stocks Rise as Europeans Agree to Closer Fiscal Union | Canadian stocks rose, paring a weekly decline, after European nations other than the U.K. agreed to adopt tougher budget rules to save the euro currency. Canadian Natural Resources Ltd. (CNQ) , Canada’s second-largest energy company by market value, gained 1.6 percent as oil and gas producers advanced. Royal Bank of Ca... |
2024-12-09 | Bloomberg | Rogers, BCE to Acquire Maple Leaf Sports in $1.3 Billion Deal for NHL Team | Rogers Communications Inc. and BCE Inc. (BCE) agreed to buy a controlling stake in Maple Leaf Sports & Entertainment Ltd. in a C$1.32 billion ($1.3 billion) deal to own the most valuable team in the National Hockey League. Rogers and BCE, Canada’s two largest phone companies, will buy a 75 percent stake in Maple Leaf S... |
2024-12-09 | Bloomberg | Football Beer Taps Add Safety, $700,000 to West Virginia University Sports | West Virginia University says it has found a profitable way to curb excessive drinking at home football games: sell beer at concession stands. By tapping kegs at Mountaineer Field, West Virginia has added $700,000 to the athletic department and reduced the number of incidents in which police were called because of exce... |
2024-10-02 | Bloomberg | European Stocks Decline; Alstom, Erste Drop | European stocks declined, after yesterday rallying the most in more than three weeks, as companies from Alstom SA to Erste Group Bank AG (EBS) sold shares. Alstom sank 4.9 percent after selling a 350 million-euro ($453 million) holding. Erste Group slipped 2.8 percent after the lender’s largest shareholder sold a 235 m... |
2024-08-09 | Bloomberg | Manulife Financial Has Second-Quarter Loss on Rates | Manulife Financial Corp. (MFC) , Canada ’s largest insurer, posted its third quarterly loss in the last year and said the worsening economy may make it harder to reach its profitability target. Results topped analyst estimates. The loss was C$300 million ($302 million), or 18 cents a share, in the three months through ... |
2024-08-09 | Bloomberg | ING Direct Canada Sale Likely to Lure Big Banks | The possible sale of ING Groep NV’s (INGA) Canadian bank, the biggest in the country in 13 years, may spark a bidding contest among the world’s soundest banks including Toronto-Dominion Bank and Bank of Nova Scotia. ING, the biggest Dutch financial-services firm, said Aug. 2 it’s “reviewing strategic options” for ING D... |
2024-02-06 | Bloomberg | Oil Steady After Cushing Supplies Drop to One-Month Low | West Texas Intermediate oil was little changed as an Energy Information Administration report showed supplies dropped at Cushing, Oklahoma, the biggest U.S. storage hub and delivery point for the New York-traded crude. Futures slipped 2 cents after stockpiles declined 315,000 barrels last week at Cushing to 51.4 millio... |
2024-02-06 | Bloomberg | HudBay Sees Buyers’ Market for Mining Projects | HudBay Minerals Inc. , the third-best- performing Canadian mining stock this year, is willing to spend about C$400 million ($402 million) on deals to replenish its development pipeline. The copper and zinc producer, which expects to more than quadruple copper output by 2015, will capitalize on a “buyers’ market” for mi... |
2024-02-06 | Bloomberg | Canada Stocks Advance on Corporate Earnings; Suncor Falls | Canadian stocks advanced as earnings from companies including TMX Group Ltd. and Genworth MI Financial Inc. offset a slump in Suncor Energy Inc. after it posted disappointing results. TMX , the owner of the Toronto Stock Exchange, and Genworth rose at least 2.3 percent after beating analysts’ earnings estimates. Raw-ma... |
2024-01-28 | Bloomberg | EBay, Marriott Among Companies Supporting Gay-Marriage Bills | Marriott International Inc. and Bristol-Myers Squibb Co. are among at least 13 companies throwing their support behind an effort to repeal a U.S. law that defines marriage as solely between one man and one woman. Corporations such as Hartford, Connecticut-based Aetna Inc. , the third-biggest U.S. health insurer, and EB... |
2024-01-28 | Bloomberg | Toronto-Dominion Joins Canadian Lenders in Ratings Cut | Toronto-Dominion Bank (TD) , Bank of Nova Scotia and four other Canadian lenders had their credit ratings cut by Moody’s Investors Service because of high home prices and consumer debt. Toronto-Dominion, the last publicly traded bank rated Aaa by Moody’s, was cut to Aa1, the ratings firm said today in a statement. Scot... |
2024-01-28 | Bloomberg | Canada Dollar Trades Close to 6-Month Low on Economy, Downgrades | The Canadian dollar traded close to a six-month low versus its U.S. counterpart as signs of slower economic growth weighed on demand. Canada ’s dollar remained lower after Toronto-Dominion Bank, Bank of Nova Scotia and four other Canadian lenders had credit ratings cut by Moody’s Investors Service because of high consu... |
2024-09-13 | Bloomberg | Patriots Beat Dolphins 38-24 | The New England Patriots beat the Miami Dolphins 38-24 in their opening game of the National Football League season. New England quarterback Tom Brady threw for 517 yards and four touchdowns, including a 99-yard scoring pass to Wes Welker in the fourth quarter at Sun Life Stadium in Miami. The Week 1 schedule ends toni... |
2024-01-17 | Bloomberg | Khazanah Net Assets Jump 24% After IHH Healthcare, Astro IPOs | Khazanah Nasional Bhd., Malaysia’s state investment company, said the value of its holdings rose 24 percent last year after making gains from divesting shares in companies, including Asia’s biggest hospitals operator. The net asset value of Khazanah’s investments climbed to 86.9 billion ringgit ($29 billion) at the end... |
2024-01-17 | Bloomberg | Harry Winston Says Ekati Stakeholder Launchs Legal Suit | Harry Winston Diamond Corp. said a minority stakeholder of the Ekati diamond mine sued to block the company’s proposed acquisition of BHP Billiton Ltd. (BHP) ’s 80 percent share of the Canadian operation. C. Fipke Holdings Ltd. alleged in an action in Ontario Superior Court of Justice that offers made by BHP to Fipke d... |
2024-01-17 | Bloomberg | Sun Life, Khazanah to Buy CIMB Aviva for $600 Million | Sun Life Financial Inc. (SLF) and Khazanah Nasional Bhd. agreed to buy 98 percent of Aviva Plc (AV/) and CIMB Group Holdings Bhd. (CIMB) ’s Malaysian insurance joint venture for 1.8 billion Malaysian ringgit ($600 million). Sun Life and Khazanah, Malaysia ’s state investment fund, will each buy 49 percent of the firm f... |
2024-01-17 | Bloomberg | TransForce Gains on Velocity Express Purchase: Montreal Mover | TransForce Inc. (TFI) rose the most in almost six months after the transportation and logistics company agreed to buy Velocity Express to expand its package delivery business. The transaction, which is expected to be completed by the end of the month, will add about C$160 million ($162 million) in annual revenue, Montr... |
2024-07-14 | Bloomberg | Canada Stocks Slip as RIM, Suncor Fall on U.S. Retailer Sales, Fed Minutes | Canadian stocks fell after the U.S. reported a larger-than-expected drop in retail sales and the Federal Reserve trimmed its growth forecast for the year. RIM, the BlackBerry maker, declined 0.9 percent after failing to provide a time frame for the release of a new operating system at its annual meeting. Ritchie Bros.... |
2024-07-13 | Bloomberg | Trade Deficit in U.S. Probably Narrowed as Oil Prices Declined | The U.S. trade deficit probably narrowed in May to the lowest level in four months as lower oil prices restrained imports, economists said before a report today. The gap decreased to $39 billion, the lowest level since January, from $40.3 billion in April, according to the median forecast of 71 economists in a Bloombe... |
2024-05-27 | Bloomberg | Fiera Targets U.S. for $150 Billion Asset Goal: Corporate Canada | Fiera Capital Corp. (FSZ) , the Canadian money manager trading close to a five-year high, plans to more than double its assets to C$150 billion ($145 billion) by adding smaller U.S. firms. Fiera, which managed C$64.5 billion as of March 31 after buying Natcan Investment Management from National Bank of Canada last year... |
2024-09-15 | Bloomberg | Canadian Stocks Rise as ECB Offers Loans to Tame Credit Crisis | Canadian stocks rose for a third day, led by financial and energy companies, on optimism that Europe is working to tame its debt crisis. Royal Bank of Canada (RY) , Canada ’s largest lender by assets, gained 3.2 percent after the European Central Bank coordinated with international policy makers to lend dollars to bank... |
2024-02-08 | Bloomberg | Canadian National Halts Study on C$5 Billion Quebec Line | Canadian National Railway Co. suspended preliminary work on a C$5 billion ($4.99 billion) rail line in northern Quebec amid delays in mining projects. The Montreal-based railroad said in August it secured the support of mining companies including Cliffs Natural Resources Inc. to prepare a feasibility study on the propo... |
2024-02-08 | Bloomberg | Canadian Stocks Rise as Bank Rally Overshadows Economy | Canadian stocks rose as advancing energy and financial companies overshadowed data showing an unexpected drop in jobs and a slump in the pace of home starts. Petrobank Energy & Resources Ltd. surged 5.4 percent as Brent crude climbed to a nine-month high. Financials rallied, as Manulife Financial Corp. and Brookfield A... |
2024-08-07 | Bloomberg | CIBC Agrees to Buy Private-Wealth Business of MFS McLean | Canadian Imperial Bank of Commerce , the country’s fifth-largest bank, agreed to buy the private- wealth business of MFS McLean Budden to bolster its wealth- management operations. MFS McLean Budden, a unit of Sun Life Financial Inc. (SLF) , manages about C$1.4 billion ($1.4 billion) in assets for high- net-worth indiv... |
2024-12-07 | Bloomberg | Insurers Offer Better Commercial Property Loan Terms Than Banks | Insurance companies are offering the best terms on senior commercial real estate loans as banks halt or scale back lending, a study by real-estate adviser CBRE Group Inc. (CBG) showed. Insurers are prepared to provide loans for as much as 69 percent of a property’s value, compared with an overall average of 66 percent.... |
2024-12-08 | Bloomberg | Ex-Met Jose Reyes Joins Sliding Roof in Miami Marlins’ Offseason Makeover | The Miami Marlins have a new shortstop, stadium, manager, reliever, uniform and name. Missing is a guaranteed way to pay for all those upgrades. Still showing one of Major League Baseball ’s smallest payrolls, the team that has finished last in National League attendance for seven straight seasons as the Florida Marlin... |
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