The Daily Chase: RBC set to buy HSBC Canada; Suncor keeps Petro-Canada
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Royal Bank of Canada is bulking up in a big way after striking a deal to buy HSBC’s Canadian operations, essentially snapping up the nation’s seventh-largest financial institution after it was put on the auction block earlier this fall.
SCOTIA KICKS OFF Q4 BANK EARNINGS WITH MIXED RESULTS
Sticking with financials, it was something of a mixed bag from Scotiabank as it kicked off the fourth-quarter earnings season for the big six. Adjusted earnings per share topped estimates in the quarter - $2.06 vs the expected $2.01 – but the bank missed on the top line amid an “uncertain and volatile” operating environment. Provisions for credit losses – basically, cash set aside to cover loans that could potentially sour – rose more than 200 per cent to $529 million in the quarter. Back to that beat for a moment, to close out on a high note – Scotia’s domestic retail banking business proved resilient in the quarter, with revenue rising 11 per cent to hit $3.13 billion.
MORE PROBLEMS FOR TC ENERGY’S COASTAL GASLINK
Top Picks from Martin Cobb, Senior Vice-President, Equities, Lorne Steinberg Wealth Management
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.