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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120 days – 1.70%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2013-10-17. Click on the link above to get more details or apply online.
China November data show economy on track for 2013 target
– theglobeandmail.com
Factory output, investment eased slightly last month, retail sales advanced
60 days – 1.55%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2013-02-04. Click on the link above to get more details or apply online.
US rule banning banks from trading for their own profit set to be approved by US regulators
– canadianbusiness.com
WASHINGTON – U.S. banks will be barred in most cases from trading for their own profit under a federal rule set to be approved Tuesday.
Five U.S. regulatory agencies are voting on the so-called Volcker Rule, a major step toward preventing extreme risk-taking on Wall Street that helped trigger the 2008 financial crisis.
Congress instructed regulators to draft the rule under the 2010 financial overhaul law.
The rule seeks to ban banks from proprietary trading. It’s a practice that has been lucrative for banks. In addition to banning trades for their own profit, the rule limits banks’ investments in hedge funds.
There is an exemption for proprietary trades when they are to facilitate buying and selling investment for customers.
The largest U.S. banks will be required to comply by July 2015.
The post US rule banning banks from trading for their own profit set to be approved by US regulators appeared first on Canadian Business.
Five U.S. regulatory agencies are voting on the so-called Volcker Rule, a major step toward preventing extreme risk-taking on Wall Street that helped trigger the 2008 financial crisis.
Congress instructed regulators to draft the rule under the 2010 financial overhaul law.
The rule seeks to ban banks from proprietary trading. It’s a practice that has been lucrative for banks. In addition to banning trades for their own profit, the rule limits banks’ investments in hedge funds.
There is an exemption for proprietary trades when they are to facilitate buying and selling investment for customers.
The largest U.S. banks will be required to comply by July 2015.
The post US rule banning banks from trading for their own profit set to be approved by US regulators appeared first on Canadian Business.
Talisman Energy sells stake in Colombia pipeline for US$595 million
– canadianbusiness.com
CALGARY – Talisman Energy Inc. says it has sold its stake in a Colombia pipeline for approximately US$595 million.
The Calgary-based oil and gas company says the 12 per cent interest in the Ocensa Pipeline, which was held by two affiliates, was sold to an investment group led by Advent International.
The sale was part of a continuing effort by Talisman to reduce its debt and unlock the company’s value.
In March, Talisman (TSX:TLM) set a target of getting rid of between $2 billion to $3 billion of its assets to strengthen its balance sheet.
The oil producer says it will transport its own crude through the line, with its affiliates retaining the rights to transport 63,000 barrels per day.
“Through this transaction, we have unlocked net value from our portfolio and retained our crude transportation rights,” said Hal Kvisle, president and CEO of Talisman Energy.
With the purchase, the group led by Advent now has a 22 per cent stake in Ocensa.
Talisman has been faced with increasing pressure since billionaire investor Carl Icahn revealed in October that he bought a six per cent interest in the company…
The Calgary-based oil and gas company says the 12 per cent interest in the Ocensa Pipeline, which was held by two affiliates, was sold to an investment group led by Advent International.
The sale was part of a continuing effort by Talisman to reduce its debt and unlock the company’s value.
In March, Talisman (TSX:TLM) set a target of getting rid of between $2 billion to $3 billion of its assets to strengthen its balance sheet.
The oil producer says it will transport its own crude through the line, with its affiliates retaining the rights to transport 63,000 barrels per day.
“Through this transaction, we have unlocked net value from our portfolio and retained our crude transportation rights,” said Hal Kvisle, president and CEO of Talisman Energy.
With the purchase, the group led by Advent now has a 22 per cent stake in Ocensa.
Talisman has been faced with increasing pressure since billionaire investor Carl Icahn revealed in October that he bought a six per cent interest in the company…
