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Markets react to trade talks: Investors are betting on a U.S.-Canada deal + MORE Aug 28th
Canada's stock market hit its highest point in more than a month on news of the U.S.-Mexico trade deal, and now the loonie is at its strongest against the U.S. dollar in more than two months, but are investors getting ahead of themselves?.... More »
Weekend Reading – Our tax code mess, screeners, doing it all wrong, Aeroplan and more + MORE Oct 2nd
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Welcome to October Weekend Reading friends. Although I’m not a huge baseball fan I was happy to see the Jays win the AL East title this week. I’ll probably start watching more baseball now the playoffs are coming and the Jays ar.... More »
Managing debt to build wealth + MORE Aug 21st
It’s an eyebrow-raising trend: non-mortgage delinquencies have reached levels not seen since 2009, according to a report by Equifax, one of the three largest consumer credit reporting agencies. Specifically, 1.4 million people in Canada have recently missed a credit payment.
But it’s no.... More »
GRI looks to Richard Nesbitt to expand global reach + MORE Apr 27th
Former chief operating officer of CIBC will take up the role of chief executive at the not-for profit financial education group on Friday
.... More »
Canadians to see lower fees and simpler account transfers + MORE Nov 6th
Ottawa plans to make it easier for Canadians to move their banking and investment accounts in a bid to increase competition and reduce costs for consumers. The government said as part of Tuesday’s federal budget, it will move to eliminate investment and registered account transfer fees, which .... More »
With stocks, bigger isn’t better: Andrew Hallam
– canadianbusiness.com
(Photo by Ramin Talaie/Getty Images)Google’s stock has made some impressive headway in the past year, gaining 19% over the 12 months ending in September 2013. With former tech darling Apple slumping more than 30% from its $700 high over the same period, many investors are thinking about dumping the losing stock for the winning one. They probably shouldn’t. In fact, they should steer clear of both.
I have nothing against Google as a business. But it’s now one of the 10 largest stocks on the S&P 500 index, with a market capitalization just shy of $300 billion. And for this reason alone, you may want to steer clear. Sound like a crazy rationale? It isn’t. While some market-cap leaders have done well, historically they have failed to impress.
Between 1926 and 2006, the S&P 500’s 10 largest stocks by market cap underperformed the market by 2.9% the subsequent year. After three years, they lagged by 11.1%; after five years, by 17.7%; and after 10 years they were 29.4% behind…
Too quiet on the western front
– canadianbusiness.com
(Photo: Larry MacDougal/CP)After all the frenetic deal-making of the past few years, Canada’s oilpatch is now finding itself in the grip of an unaccustomed drought of mergers and acquisitions. Pacific Rubiales Energy’s $935-million bid for Petrominerales announced Sept. 30 was the exception that proves the rule. Or maybe it was the rule; the buyer in this case came from Toronto.
The Calgary lawyers and investment bankers whose lifeblood is deal flow are beginning to worry. CIBC vice-chairman Jim Prentice noted in a speech that, year to date in 2013, foreign energy investment in Canada is down by a staggering 92%—$2 billion versus $27 billion for the same period in 2012. Total M&A activity is just $8 billion this year, compared to $66 billion last year.
“You don’t want to read too much into this short-term data,” says Craig Hoskins, a Calgary lawyer with Norton Rose Fulbright, noting 2012 was exceptional because of China National Offshore Oil Co.’s $15-billion takeover of Nexen, and Petronas’s $6-billion acquisition of Progress Energy…
Omar Khadr’s millions: The fight for financial damages
– macleans.ca
Why Canada almost certainly have to cut the convicted terrorist a very big cheque
Citigroup earnings hit by bond trading slowdown
– theglobeandmail.com
U.S. bank says adjusted profit slipped after Federal Reserve decided to continue its bond-buying program longer than expected
UK bank poised to pull plug on Somali remittance service, putting financial lifeline at risk
– canadianbusiness.com
LONDON – A British bank is severing a financial lifeline for millions of Somalis.
Barclays is poised to sever its ties to Dahabshiil, one of the Somali expatriate community’s biggest money-transfer services, as part of a wide-ranging reorganization of its business.
Experts say the move will jeopardize some 100 million pounds ($160 million) in payments made from the U.K. each year.
Barclays plans to go ahead with the move unless a last-minute court challenge by Dahabshiil succeeds on Tuesday.
In a poverty-stricken country which relies heavily on remittances, Barclays’ move has prompted significant anxiety.
Somali President Hassan Sheikh Mohamud said Monday that his government was watching what was happening in London “with great concern.”
The post UK bank poised to pull plug on Somali remittance service, putting financial lifeline at risk appeared first on Canadian Business.
Barclays is poised to sever its ties to Dahabshiil, one of the Somali expatriate community’s biggest money-transfer services, as part of a wide-ranging reorganization of its business.
Experts say the move will jeopardize some 100 million pounds ($160 million) in payments made from the U.K. each year.
Barclays plans to go ahead with the move unless a last-minute court challenge by Dahabshiil succeeds on Tuesday.
In a poverty-stricken country which relies heavily on remittances, Barclays’ move has prompted significant anxiety.
Somali President Hassan Sheikh Mohamud said Monday that his government was watching what was happening in London “with great concern.”
The post UK bank poised to pull plug on Somali remittance service, putting financial lifeline at risk appeared first on Canadian Business.
