Royal Bank of Canada cuts 1% of U.S. investment-banking team
BNN Bloomberg
Royal Bank of Canada’s investment banking arm held a round of layoffs in the US, according to people with knowledge of the matter.
The lender’s RBC Capital Markets division cut 1 per cent of its US investment banking team, with the reductions focused on junior staff, said some of the people, who asked not to be identified discussing personnel changes. The moves were in line with RBC’s standard annual changes, one of the people said.
“We can confirm that we made minimal cuts to our US investment-banking business which were in line with our normal attrition,” said Elisa Barsotti, a spokeswoman for the bank.
RBC joins competitors including Bank of Montreal and Goldman Sachs Group Inc. in eliminating jobs amid steep revenue declines in areas such as debt and equity issuance. RBC still plans to hire aggressively at the senior level, a person with knowledge of the matter said.
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The chief executive of National Bank of Canada says he’s not changing the bank’s strategy because of the war in the Middle East, but he is urging a faster response from Canada to rising threats abroad.
With airstrikes still battering Iran and missiles still targeting sites across the Middle East, some of the optimism that sent stocks rallying the day before drained out of Wall Street on Tuesday. Oil prices got back to rising, and U.S. stocks are returning some of their gains.
A large explosion at an oil refinery near the Texas coast shot plumes of smoke into the air and forced nearby residents to shelter in place, officials said.
Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
Bank of Montreal said on Tuesday it plans to roll out tokenized cash capabilities in collaboration with CME Group and Google Cloud, as it seeks to meet rising demand for real‑time payments amid a global shift toward around‑the‑clock trading.
From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.
Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.
Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.