Business RSS
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U.S. markets eye Fed minutes for hints of end to bond buyin program
TORONTO – North American markets will focus this week on the release of the latest minutes from the U.S. Federal Reserve for any clues on when the world’s largest economy will taper off its aggressive monetary stimulus program. The Fed minutes from the central bank’s April 30 to May 1 meeting will be released on
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Wealth management key for banks amid slow growth in retail banking
TORONTO – As Canada’s biggest banks prepare to report their second-quarter results, analysts say those that rely more heavily on wealth management and global markets will fare better amid slowing growth in Canadian retail banking. Scotiabank (TSX:BNS) and Royal Bank (TSX:RY) are expected to lead the pack this quarter because of their focus on wealth
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Most actively traded companies on the TSX, TSX Venture Exchange markets
TORONTO – Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (12,613.05 up 105.45 points): Southern Pacific Resource Corp. (TSX:STP). Oil and gas. Up 9.5 cents, or 23.46 per cent, at 50 cents on 12.29 million shares. The energy sector was the leading
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Wind Mobile wants clarity on rules for buying new players like Mobilicity
MONTREAL – Industry Canada needs to make it clear if it’s going to uphold its own rules on the sale of new wireless carrier Mobilicity, says the CEO of small competitor Wind Mobile. Big carriers like Rogers, Bell and Telus shouldn’t be allowed use loopholes or do creative deals to get around the rules, Anthony
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Wheat and oat futures fall, while corn and soybean futures rise on the CBOT
CHICAGO – Grains futures were mixed Friday on the Chicago Board of Trade. Wheat for July delivery fell 4.5 cents to $6.8325 a bushel; July corn rose 11.25 cents to $6.5275 a bushel; July oats slipped 2.25 cents to $3.755 a bushel; while July soybeans jumped 21 cents to $14.485 a bushel. Beef and pork
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Securities Commission approves settlement with analyst over insider trading
TORONTO – The Ontario Securities Commission approved an insider trading settlement Friday with a former analyst at BMO Nesbitt Burns who bought shares of five companies he knew were in the midst of takeover deals. Ming Chao Zhao, also known as Michael Zhao, was ordered to pay a $750,000 administrative penalty, $30,000 in costs and
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Bank of Montreal gets 90 days to improve system for thwarting money-laundering
TORONTO – The Bank of Montreal (TSX:BMO) and its U.S. subsidiary have agreed to beef up efforts to combat money laundering after American authorities found its operations in Chicago lacking. The Canadian bank, U.S. Federal Reserve and an Illinois state agency have signed an agreement that gives BMO until late July to submit an acceptable
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Wynne agrees to one NDP budget demand, rejects another and compromises on third
TORONTO – Ontario Premier Kathleen Wynne is agreeing to one of the NDP’s three post-budget demands, rejecting another and offering a compromise on the third as she hopes to secure a deal to avoid a spring election. Wynne says the government will introduce legislation this fall to create the position of a Financial Accountability Officer
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Measure of US economy’s future health rises 0.6 per cent in April after March dip
WASHINGTON – A measure of the U.S. economy’s future health rose in solidly in April, buoyed by a sharp rise in applications to build new homes and apartments. The Conference Board says its index of leading indicators increased 0.6 per cent last month to a reading of 95. That followed a 0.2 per cent decline
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Canadian inflation falls to 0.4 per cent in April
OTTAWA – A steep decline in the price of gasoline last month pushed Canada’s inflation rate down to 0.4 per cent in April, the lowest level since October 2009 and a bigger drop than analysts had expected.
