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What will it take to re-energize oil stocks? + MORE Dec 1st
The energy sector has performed reasonably well in 2016, but you don’t have to ask an Albertan to know it’s still a long way off from what it was. What will it take to re-energize the oil stocks? Here are three key signals Lanny Pendill at Edward Jones says you need to watch before you top up th.... More »
North American markets stop major slide as oil prices and loonie gain ground + MORE Jan 31st
TORONTO _ North American stocks markets pulled back from their recent significant losses, as oil prices gained ground and the U.S. Federal Reserve said it was leaving its key interest rate unchanged.
The Toronto Stock Exchange’s S&P/TSX composite index edged back 3.84 points to 15,951.67, .... More »
6 partial bitumen upgrading projects worth $5B on shortlist for Alberta government support, Notley says + MORE Nov 22nd
Alberta Premier Rachel Notley says her government is close to finalizing investment deals on six projects for partial upgrading of oilsands bitumen that will be worth nearly $5 billion and create hundreds of long-term jobs..... More »
BlackBerry partners with Fleet Complete with integrated fleet tracking solution + MORE Sep 20th
WATERLOO, Ont. _ BlackBerry (TSX:BB) is partnering with another company to offer customers a more comprehensive fleet-tracking system.
The Waterloo, Ont.-based company says it has entered a reselling partnership with Fleet Complete, a fleet-tracking solution company.
BlackBerry Radar general manager.... More »
This health-care dividend giant has crushed the S&P 500 + MORE Jul 27th
Thanks to its growing pharmaceuticals division, the company is posting solid results and is poised to continue raising its dividend
.... More »
Exxon Mobil posts 3Q profit of $4.24 billion, result tops expectations
– canadianbusiness.com
IRVING, Texas – Exxon Mobil Corp. (XOM) on Friday reported third-quarter earnings of $4.24 billion.
The Irving, Texas-based company said it had profit of $1.01 per share.
The results exceeded Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The oil and natural gas company posted revenue of $67.34 billion in the period.
Exxon shares have dropped 11 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1.5 per cent. The stock has fallen 13 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XOM at http://www.zacks.com/ap/XOM
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Keywords: Exxon Mobil, Earnings Report, Priority Earnings
The post Exxon Mobil posts 3Q profit of $4…
The Irving, Texas-based company said it had profit of $1.01 per share.
The results exceeded Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The oil and natural gas company posted revenue of $67.34 billion in the period.
Exxon shares have dropped 11 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1.5 per cent. The stock has fallen 13 per cent in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XOM at http://www.zacks.com/ap/XOM
_____
Keywords: Exxon Mobil, Earnings Report, Priority Earnings
The post Exxon Mobil posts 3Q profit of $4…
Swiss bank Credit Suisse says it is co-operating with US, Swiss probes of FIFA corruption
– canadianbusiness.com
ZURICH – Credit Suisse says it is helping American and Swiss federal investigations into alleged financial corruption linked to FIFA.
The Swiss bank says in its quarterly report it “received inquiries from these authorities regarding its banking relationships with certain individuals and entities associated with FIFA.”
The bank says prosecutors are investigating “multiple financial institutions, including Credit Suisse.”
It says banks are being asked if they processed “suspicious or otherwise improper transactions, or failed to observe anti-money laundering laws and regulations.”
Switzerland’s attorney general Michael Lauber said last month he had reports of 121 suspicious accounts.
The Swiss case relates to criminal mismanagement of FIFA business and money laundering linked to the 2018-2022 World Cup bidding contests.
The American case has focused on bribery implicating senior FIFA officials in North and South America.
The post Swiss bank Credit Suisse says it is co-operating with US, Swiss probes of FIFA corruption appeared first on Canadian Business – Your Source For Business News.
The Swiss bank says in its quarterly report it “received inquiries from these authorities regarding its banking relationships with certain individuals and entities associated with FIFA.”
The bank says prosecutors are investigating “multiple financial institutions, including Credit Suisse.”
It says banks are being asked if they processed “suspicious or otherwise improper transactions, or failed to observe anti-money laundering laws and regulations.”
Switzerland’s attorney general Michael Lauber said last month he had reports of 121 suspicious accounts.
The Swiss case relates to criminal mismanagement of FIFA business and money laundering linked to the 2018-2022 World Cup bidding contests.
The American case has focused on bribery implicating senior FIFA officials in North and South America.
The post Swiss bank Credit Suisse says it is co-operating with US, Swiss probes of FIFA corruption appeared first on Canadian Business – Your Source For Business News.
KeyCorp expands presence in Northeast with $4.1B deal for rival bank First Niagara
– canadianbusiness.com
CLEVELAND – KeyCorp will expand deeper into the Northeast with a $4.1 billion deal to buy First Niagara Financial Group and create the 13th largest commercial bank in the United States.
Cleveland-based KeyCorp said Friday that it will pay a portion of its stock and $2.30 in cash for each share of First Niagara. The total comes to $11.40 per share based on the Thursday closing price of Key Corp’s stock. That’s a roughly 10 per cent premium to First Niagara’s $10.38 closing price on Thursday.
First Niagara shares edged up 26 cents to $10.64 in premarket trading while KeyCorp dropped 68 cents, or 5.1 per cent, to $12.70 about an hour before the market open.
Buffalo, New York-based First Niagara Financial Group Inc. has nearly 400 locations in New York, Pennsylvania, Connecticut and Massachusetts. It has $39 billion in assets and $29 billion in deposits.
The combined company will have more than 1,300 bank branches in 15 states. It will have $99.8 billion in deposits and $83…
Cleveland-based KeyCorp said Friday that it will pay a portion of its stock and $2.30 in cash for each share of First Niagara. The total comes to $11.40 per share based on the Thursday closing price of Key Corp’s stock. That’s a roughly 10 per cent premium to First Niagara’s $10.38 closing price on Thursday.
First Niagara shares edged up 26 cents to $10.64 in premarket trading while KeyCorp dropped 68 cents, or 5.1 per cent, to $12.70 about an hour before the market open.
Buffalo, New York-based First Niagara Financial Group Inc. has nearly 400 locations in New York, Pennsylvania, Connecticut and Massachusetts. It has $39 billion in assets and $29 billion in deposits.
The combined company will have more than 1,300 bank branches in 15 states. It will have $99.8 billion in deposits and $83…
Husky Energy swings to loss; has cut 1,400 jobs
– theglobeandmail.com
Company says it has written down $167-million related to legacy oil and natural gas assets in Western Canada
Husky posts $4.1-billion loss in Q3 as it recognizes reduced value of assets
– canadianbusiness.com
CALGARY – Husky Energy (TSX:HSE) is recognizing the impaired value of its assets, resulting in a $4.1-billion net loss in the third quarter and prompting it to consider further actions to help it ride out the oil and gas industry’s current downturn.
The Calgary-based company says most of the loss, which was equal to $4.19 per common share, is due to non-cash items that reflect Husky’s reduced outlook for longer term oil and gas prices.
Adjusting to exclude $3.8 billion of impairments and a $167 million writedown, Husky’s loss for the third quarter was $101 million.
Husky says it’s prepared to make additional workforce adjustments if necessary, in addition to 1,400 positions eliminated by the end of the third quarter.
It has also decided to make its January 2016 dividend payment in common shares rather than cash. The dividend rate will continue to be 30 cents per share.
It’s also considering the sale of some of its oil and gas properties in Western Canada — but not its heavy oil or oilsands assets…
The Calgary-based company says most of the loss, which was equal to $4.19 per common share, is due to non-cash items that reflect Husky’s reduced outlook for longer term oil and gas prices.
Adjusting to exclude $3.8 billion of impairments and a $167 million writedown, Husky’s loss for the third quarter was $101 million.
Husky says it’s prepared to make additional workforce adjustments if necessary, in addition to 1,400 positions eliminated by the end of the third quarter.
It has also decided to make its January 2016 dividend payment in common shares rather than cash. The dividend rate will continue to be 30 cents per share.
It’s also considering the sale of some of its oil and gas properties in Western Canada — but not its heavy oil or oilsands assets…
