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More Wall Street CEO cash is hint for shareholders + MORE Jan 25th
The directors of big lenders came under pressure after the financial crisis to cut CEO pay and hand out more of it in stock
.... More »
Is there a low-cost way to sell your DSC mutual funds? + MORE Sep 16th
Q: My 25-year-old daughter just invested $8,000 into mutual funds with deferred sales charges (DSCs) that will apply if she sells them before six years. I believe this is a bad choice for her. Can the advisor switch her into a new crop of DSC funds without her knowledge in six years? Is there a lo.... More »
How the federal budget will affect families + MORE Mar 25th
Andrew Francis Wallace/Toronto Star/GetStock
This article was originally published at MoneySense.ca.
On Tuesday, Federal Finance Minister Bill Morneau stood up in the House of Commons to table his first federal budget. While the big numbers will grab the biggest headlines (and it doesn’t get mu.... More »
Budget 2019: Province 'ripped up' deal with city, Edmonton mayor says - CBC.ca Oct 25th
Budget 2019: Province 'ripped up' deal with city, Edmonton mayor says CBC.caBudget 2019: Albertans to pay more as United Conservative government reins in spending CBC.caEvening Update: Alberta plans across-the-board cuts in Kenney's first budget The Globe and MailBra.... More »
Stock markets brace for collateral damage as first shots fired in Trump's trade war + MORE Mar 23rd
Fears of a trade war are roiling financial markets Friday, with stocks under pressure around the world and the dollar in retreat..... More »
ABN Amro Q2 earnings rise on one-time items; government privatization plan coming soon
– canadianbusiness.com
AMSTERDAM – ABN Amro NV, the bank that was nationalized by the Dutch government so it wouldn’t go bust in 2008, says second quarter earnings rose slightly after one-off impairments were not as high as a year earlier.
Net profit reported Friday was 402 million euros ($537 million), up from 337 million euros in the same period of 2012.
CEO Gerrit Zalm, however, warned Friday that bad loans are rising amid the ongoing Dutch recession, which has now passed the one-year mark. He said small businesses are suffering the most. Consumers are spending less, but saving more — bad for businesses, but retail savings provide a cheap form of funding for ABN, helping interest margins.
Finance Minister Jeroen Dijsselbloem said Wednesday the Cabinet will soon release a plan for re-privatizing ABN.
The post ABN Amro Q2 earnings rise on one-time items; government privatization plan coming soon appeared first on Canadian Business.
Net profit reported Friday was 402 million euros ($537 million), up from 337 million euros in the same period of 2012.
CEO Gerrit Zalm, however, warned Friday that bad loans are rising amid the ongoing Dutch recession, which has now passed the one-year mark. He said small businesses are suffering the most. Consumers are spending less, but saving more — bad for businesses, but retail savings provide a cheap form of funding for ABN, helping interest margins.
Finance Minister Jeroen Dijsselbloem said Wednesday the Cabinet will soon release a plan for re-privatizing ABN.
The post ABN Amro Q2 earnings rise on one-time items; government privatization plan coming soon appeared first on Canadian Business.
Money fund assets rise $15.49 billion to $2.638 trillion in most recent week
– canadianbusiness.com
NEW YORK, N.Y. – Total U.S. money market mutual fund assets rose $15.49 billion to $2.638 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation’s retail money market mutual funds rose $7.31 billion to $931.03 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category increased $5.9 billion to $735.01 billion. Tax-exempt retail fund assets rose $1.41 billion to $196.01 billion.
Assets in institutional money market funds rose $8.18 billion to $1.707 trillion. Among institutional funds, taxable money market fund assets increased $7.84 billion to $1.63 trillion. Assets of tax-exempt funds rose $340 million to $72.8 billion.
The 7-day average yield on money market mutual funds was unchanged at 0.01 per cent from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass. The 7-day compounded yield was flat at 0.01 per cent…
Assets in the nation’s retail money market mutual funds rose $7.31 billion to $931.03 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category increased $5.9 billion to $735.01 billion. Tax-exempt retail fund assets rose $1.41 billion to $196.01 billion.
Assets in institutional money market funds rose $8.18 billion to $1.707 trillion. Among institutional funds, taxable money market fund assets increased $7.84 billion to $1.63 trillion. Assets of tax-exempt funds rose $340 million to $72.8 billion.
The 7-day average yield on money market mutual funds was unchanged at 0.01 per cent from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass. The 7-day compounded yield was flat at 0.01 per cent…
Oil stays above $105 a barrel ahead of U.S. housing data
– canadianbusiness.com
BANGKOK – The price of oil rose slightly Friday, ahead of the release of an economic report in the U.S.
Benchmark oil for October delivery gained 5 cents to US$105.08 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.18 to close at $105.03 a barrel on the Nymex on Thursday.
The eurozone’s purchasing managers’ index, a key gauge of growth in both the manufacturing and services sectors, rose to 51.7 points in August from 50.4 in July, according to financial information company Markit. It was the highest reading since June 2011 and supported expectations that the eurozone’s recovery from recession is gaining momentum.
Still, traders said the eurozone’s recovery was uneven and being driven by outsized momentum from Germany.
“Output levels slowed notably in France in both the sectors, in sharp contrast to strong outcomes out of Germany. This validates the fragile nature of the turnaround in activity, as growth is not on firm ground even amongst the core member countries,” said analysts at DBS Bank Ltd…
Benchmark oil for October delivery gained 5 cents to US$105.08 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.18 to close at $105.03 a barrel on the Nymex on Thursday.
The eurozone’s purchasing managers’ index, a key gauge of growth in both the manufacturing and services sectors, rose to 51.7 points in August from 50.4 in July, according to financial information company Markit. It was the highest reading since June 2011 and supported expectations that the eurozone’s recovery from recession is gaining momentum.
Still, traders said the eurozone’s recovery was uneven and being driven by outsized momentum from Germany.
“Output levels slowed notably in France in both the sectors, in sharp contrast to strong outcomes out of Germany. This validates the fragile nature of the turnaround in activity, as growth is not on firm ground even amongst the core member countries,” said analysts at DBS Bank Ltd…
Asian stock markets rise after China, eurozone post data showing improved factory output
– canadianbusiness.com
BANGKOK – Asian stock markets rebounded Friday after encouraging economic data from China and Europe raised hopes that a global economic recovery was underway.
A survey released Thursday by HSBC Corp. indicated that manufacturing in China had expanded in August, the latest evidence that the world’s second-largest economy may be over its recent weakness. HSBC’s preliminary purchasing managers index rose to 50.1 from July’s 47.7 — crossing the critical 50 threshold to indicate an expansion in activity.
“This should reassure even the most bearish that China has avoided a hard landing for now,” Qinwei Wang of Capital Economics wrote in an email commentary.
Japan’s Nikkei 225 index jumped 2.8 per cent to 13,738.82. Australia’s S&P/ASX 200 advanced 1 per cent to 5,128.70. South Korea’s Kospi added 1.4 per cent to 1,874.39. Hong Kong’s Hang Seng rose 0.6 per cent to 22,013.31.
Sam Le Cornu, portfolio manager at Macquarie Funds Group in Hong Kong, said the data supported arguments that the world’s No…
A survey released Thursday by HSBC Corp. indicated that manufacturing in China had expanded in August, the latest evidence that the world’s second-largest economy may be over its recent weakness. HSBC’s preliminary purchasing managers index rose to 50.1 from July’s 47.7 — crossing the critical 50 threshold to indicate an expansion in activity.
“This should reassure even the most bearish that China has avoided a hard landing for now,” Qinwei Wang of Capital Economics wrote in an email commentary.
Japan’s Nikkei 225 index jumped 2.8 per cent to 13,738.82. Australia’s S&P/ASX 200 advanced 1 per cent to 5,128.70. South Korea’s Kospi added 1.4 per cent to 1,874.39. Hong Kong’s Hang Seng rose 0.6 per cent to 22,013.31.
Sam Le Cornu, portfolio manager at Macquarie Funds Group in Hong Kong, said the data supported arguments that the world’s No…
Is the lustre returning to Barrick?
– theglobeandmail.com
The selloff of non-core assets, cost controls and dividend cut has put miner on solid footing
