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How the Dow Jones industrial average fared on Friday + MORE Dec 3rd
Investors made a small move back to safer assets Friday afternoon after the government’s November jobs report showed continued hiring, but weak wages. Stocks finished little changed as real estate and household goods companies rose, but banks, which have soared since the presidential election,.... More »
At the open: TSX opens higher as gold miners shine Jul 14th
S&P, Dow flat after mixed big banks’ earnings
.... More »
BMO credit cards: A breakdown of the bank’s best cards 2021 May 15th
Along with Canada’s other big banks, BMO (Bank of Montreal) offers the stability that stems from a long history as an established institution. BMO was founded in 1817, making it Canada’s oldest incorporated bank, and it’s been the nation’s fourth largest since 2018. Due, in part, to its clos.... More »
Canadian Banks' AT1s join selloff after Credit Suisse rescue - BNN Bloomberg + MORE Mar 20th
Canadian Banks' AT1s join selloff after Credit Suisse rescue BNN BloombergPosthaste: Three things to watch as the world teeters on the edge of a banking crisis Yahoo Canada FinanceCredit Suisse rescue eases crisis fears, First Republic shares dive The Globe and MailA.... More »
Making sense of the markets this week: October 29, 2023 Oct 28th
Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, shares financial headlines and offers context for Canadian investors.
Third quarter earnings are here from tech
Earnings season is here, as technology’s biggest players reported their third quar.... More »
BMO stress testing oil and gas loan portfolio for $25 a barrel scenario
– canadianbusiness.com
TORONTO – Recent declines in the price of crude are spurring Canadian banks to take a closer look at their loan books, with Bank of Montreal stress-testing its oil and gas sector portfolio to see how it would perform at $25 a barrel oil.
Bank of Montreal chief executive Bill Downe says the bank is also stress testing its broader loan portfolios — which includes consumer mortgages, credit cards and auto loans — for an average of $35 a barrel over the course of the year.
For 2017 the bank (TSX:BMO) is using $30 a barrel oil for its stress tests, and for 2018 it’s considering the potential effects of a $40 a barrel scenario.
Downe made his comments during the Canadian Bank CEO Conference in Toronto as crude oil futures were trading at about US$32 a barrel.
Meanwhile, Royal Bank (TSX:RY) CEO Dave McKay said he expects oil to start moving back towards the $50 a barrel range — and maybe slightly above — over the next 18 months.
“It’s a little softer than anybody predicted right now,” McKay said…
Bank of Montreal chief executive Bill Downe says the bank is also stress testing its broader loan portfolios — which includes consumer mortgages, credit cards and auto loans — for an average of $35 a barrel over the course of the year.
For 2017 the bank (TSX:BMO) is using $30 a barrel oil for its stress tests, and for 2018 it’s considering the potential effects of a $40 a barrel scenario.
Downe made his comments during the Canadian Bank CEO Conference in Toronto as crude oil futures were trading at about US$32 a barrel.
Meanwhile, Royal Bank (TSX:RY) CEO Dave McKay said he expects oil to start moving back towards the $50 a barrel range — and maybe slightly above — over the next 18 months.
“It’s a little softer than anybody predicted right now,” McKay said…
Banks in Turkmenistan halt hard currency sales as economy suffers from drop in energy prices
– canadianbusiness.com
ASHGABAT, Turkmenistan – Banks in the natural gas-rich Central Asian nation of Turkmenistan have halted hard currency sales as the economy shows signs of struggling amid falling global energy prices.
Employees at banks in the capital, Ashgabat, told customers Tuesday that the ban on the sale of U.S. dollars and other hard currencies would remain in place indefinitely.
Currencies in other ex-Soviet nations have been buffeted by a combination of plummeting prices for commodities and Russia’s sagging economy.
Turkmenistan’s currency, the manat, has officially held at around 3.50 against the dollar over the past year, although rumours of an imminent sharp devaluation have created strong demand for foreign currencies.
The nation is run by a strict authoritarian government, making any protests against currency restrictions unlikely.
The post Banks in Turkmenistan halt hard currency sales as economy suffers from drop in energy prices appeared first on Canadian Business – Your Source For Business News.
Employees at banks in the capital, Ashgabat, told customers Tuesday that the ban on the sale of U.S. dollars and other hard currencies would remain in place indefinitely.
Currencies in other ex-Soviet nations have been buffeted by a combination of plummeting prices for commodities and Russia’s sagging economy.
Turkmenistan’s currency, the manat, has officially held at around 3.50 against the dollar over the past year, although rumours of an imminent sharp devaluation have created strong demand for foreign currencies.
The nation is run by a strict authoritarian government, making any protests against currency restrictions unlikely.
The post Banks in Turkmenistan halt hard currency sales as economy suffers from drop in energy prices appeared first on Canadian Business – Your Source For Business News.
Royal Canadian Mint sells digital payments platform to Toronto startup
– canadianbusiness.com
TORONTO – The Royal Canadian Mint is ending its experiment with digital payments, selling off its MintChip platform to Toronto-based financial startup nanoPay.
The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014.
Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.
NanoPay says the platform is now live and processing transactions, and will launch commercially in the coming weeks.
The company said it is working to integrate MintChip with banks and retailers.
Companies including Apple and PayPal have launched their own digital payment systems in the years since MintChip was first announced, but the available options are fragmented between different devices, retailers, and banks.
The post Royal Canadian Mint sells digital payments platform to Toronto startup appeared first on Canadian Business – Your Source For Business News.
The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014.
Consumers could use MintChip with a mobile device at a cash register or send money with a text message, email or potentially a social media message.
NanoPay says the platform is now live and processing transactions, and will launch commercially in the coming weeks.
The company said it is working to integrate MintChip with banks and retailers.
Companies including Apple and PayPal have launched their own digital payment systems in the years since MintChip was first announced, but the available options are fragmented between different devices, retailers, and banks.
The post Royal Canadian Mint sells digital payments platform to Toronto startup appeared first on Canadian Business – Your Source For Business News.
