U.S. banks send cash to investors after stress-test successes
BNN Bloomberg
Morgan Stanley and Goldman led the way as U.S. banks boosted dividends and share buybacks in response to their success in clearing this year’s stress tests. JPMorgan held its dividend steady at US$1 a share.
Goldman Sachs said its quarterly dividend would jump 25 per cent to US$2.50 a share from US$2. Morgan Stanley boosted its payout to 77.5 cents a share from 70 cents, according to a statement Monday.
“Our client-oriented strategy will continue to diversify the firm’s franchise and provide a strengthened return profile,” Goldman Sachs Chairman and Chief Executive Officer David Solomon said in a statement. “We will continue to dynamically manage capital and remain well-positioned to support our clients.”
The biggest US banks began outlining their plans for distributing capital after passing the Federal Reserve tests, effectively giving them the green light to return billions of dollars to investors in dividends and share buybacks. All lenders cleared the examination last week, showing that they had enough capital to handle a severe economic meltdown with surging unemployment, collapsing real-estate prices and a plunge in stocks.
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.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.