The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Valeant strikes deal to reduce its portion of Allergan settlement to $96.25M
– canadianbusiness.com
LAVAL, Que. _ Valeant Pharmaceuticals International, Inc. (TSX:VRX) says it has agreed to pay US$96.25 million to settle lawsuits filed in California in the wake of the unsuccessful attempted hostile takeover in 2014 of Botox maker Allergan Inc.
The company says in a news release the rest of the agreed settlement of US$290 million, about 67 per cent, will be covered by co-defendant Pershing Square Capital Management, L.P.
Pershing Square, an American hedge fund, says in a separate release that Laval, Que.-based Valeant had originally agreed to pay 60 per cent of the settlement but the two disagreed on “desirability and timing” of the move and the U.S. investment company will pay more to take control.
Both companies say they are admitting no wrongdoing by settling. The lawsuit accusing them of insider trading was brought by shareholders who sold Allergan stock in the two months before the US$51-billion bid was launched.
Pershing Square CEO Bill Ackman says he still believes the lawsuit had “absolutely no merit,” but settling now will save resources required for a lengthy litigation…
The company says in a news release the rest of the agreed settlement of US$290 million, about 67 per cent, will be covered by co-defendant Pershing Square Capital Management, L.P.
Pershing Square, an American hedge fund, says in a separate release that Laval, Que.-based Valeant had originally agreed to pay 60 per cent of the settlement but the two disagreed on “desirability and timing” of the move and the U.S. investment company will pay more to take control.
Both companies say they are admitting no wrongdoing by settling. The lawsuit accusing them of insider trading was brought by shareholders who sold Allergan stock in the two months before the US$51-billion bid was launched.
Pershing Square CEO Bill Ackman says he still believes the lawsuit had “absolutely no merit,” but settling now will save resources required for a lengthy litigation…
Commodities, marijuana stocks steer TSX to small decline on last trading day of 2017
– canadianbusiness.com
TORONTO – Crossing the US$60 oil barrier wasn’t enough to steer the Toronto stock index out of the red ahead of the holiday weekend, as Canadian cannabis companies experienced a volatile trading day.
The February crude contract climbed 58 cents to US$60.42 per barrel, its highest level since June 24, 2015.
Meanwhile, the commodity-heavy S&P/TSX composite index retreated from its two-day record streak, declining 12.82 points to 16,209.13. On Wednesday and Thursday, the TSX closed at all-time highs of 16,203.13 and 16,221.95, respectively.
Included in the TSX’s broad-based decline was the health-care sector after major pot producers such as Canopy Growth Corp. (TSX:WEED) and Aurora Cannabis Inc. (TSX:ACB) had their stocks temporarily halted at mid-day after their shares dropped by nearly 15 per cent within a short time frame.
In New York, the Dow Jones industrial average fell 118.29 points to 24,719.22. The S&P 500 index was down 13.93 points to 2,673.61 and the Nasdaq composite index gave back 46…
The February crude contract climbed 58 cents to US$60.42 per barrel, its highest level since June 24, 2015.
Meanwhile, the commodity-heavy S&P/TSX composite index retreated from its two-day record streak, declining 12.82 points to 16,209.13. On Wednesday and Thursday, the TSX closed at all-time highs of 16,203.13 and 16,221.95, respectively.
Included in the TSX’s broad-based decline was the health-care sector after major pot producers such as Canopy Growth Corp. (TSX:WEED) and Aurora Cannabis Inc. (TSX:ACB) had their stocks temporarily halted at mid-day after their shares dropped by nearly 15 per cent within a short time frame.
In New York, the Dow Jones industrial average fell 118.29 points to 24,719.22. The S&P 500 index was down 13.93 points to 2,673.61 and the Nasdaq composite index gave back 46…
The Financial Consumer Agency of Canada won’t be releasing the results of its review of business practices among Canada’s major banks by the end of the year, as originally anticipated.
Bullish on Best Buy
– theglobeandmail.com
A technical look at the stock
