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Bank of Montreal

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  • Apple in talks to launch Apple Pay in Canada - WSJ Friday, 17 Apr 2015 | 11:41 AM ET

    April 17- Apple Inc is planning to launch its electronic payments service in Canada in November, the first international expansion of Apple Pay, the Wall Street Journal reported, citing people familiar with the matter. The iPhone maker is in talks with Canada's six biggest banks, Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal,...

  • TORONTO, March 31- Battered oil prices are expected to spur mergers and acquisitions in the energy sector and drive advisory fees for the Bank of Montreal, Chief Executive William Downe said on Tuesday. "The fact that the cost of heating oil and gasoline to drive your car is effectively putting $20 a week in the pocket of every working person in North America, that's...

  • NEW YORK, March 30- Bank of Montreal's former top natural gas trader was ordered to pay $14.2 million in restitution on Monday after pleading guilty to charges that he inflated the value of his portfolio and conspired with others to deceive the bank. District Judge Loretta Preska in Manhattan in light of his years of cooperating with authorities investigating...

  • NEW YORK/ TORONTO March 10- HumakerUBS AG has poached a U.S. team of some 15 oil and gas investment bankers from Bank of Montreal, significantly weakening the energy dealmaking capacity at Canada's fourth-largest bank, people familiar with the matter said. The moves come amid plummeting oil prices that have prompted banks to try to lure talented energy bankers...

  • OTTAWA, March 4- The Bank of Canada held interest rates steady on Wednesday, in line with indications it sent out over the past two weeks, signaling it was satisfied with how markets and the economy have reacted to its surprise rate cut in January. "It suggests steady for now, maybe forever," said Royal Bank of Canada chief economist Craig Wright. Canadian Imperial Bank...

  • OTTAWA, March 4- The Bank of Canada held interest rates steady on Wednesday, in line with signals it sent out over the past two weeks, saying it was satisfied with how markets and the economy reacted to its surprise rate cut in January. The central bank shocked traders by taking the aggressive step of easing its benchmark rate by 25 basis points in January in response...

  • March 3- Bank of Nova Scotia posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, and its shares fell 1.4 percent. The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks. Royal Bank of Canada and Canadian Imperial Bank of Commerce topped profit...

  • March 3- Bank of Nova Scotia posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, sending its shares down about 1.6 percent. The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks, with Royal Bank of Canada and Canadian Imperial Bank of Commerce...

  • WINNIPEG, Manitoba, Feb 26- Canadian farmers are plowing profits from bumper crops into fertilizer storage facilities to mitigate the pricing power held by major retailers and producers. Over time, the practice might erode the steep premiums farmers pay in the spring to retail businesses owned by Agrium Inc, Richardson International and Cargill Ltd, while...

  • TORONTO, Feb 25- Royal Bank of Canada, the country's top lender, posted a better-than-expected quarterly profit on Wednesday, driven by significant gains in its personal and commercial banking and capital markets businesses. RBC shares rose almost 3 percent to C $77.25 in Toronto, while National shares gained 2 percent to C $47.92. RBC's net income rose to C $2.46...

  • TORONTO, Feb 25- Royal Bank of Canada, the country's top lender, posted a better-than-expected quarterly profit on Wednesday, driven by significant gains in its personal and commercial banking and capital markets businesses. The results could improve investor sentiment towards Canadian banks, which took a hit after Bank of Montreal, Canada's fourth-largest...

  • Feb 25- National Bank of Canada, the country's sixth-largest lender, reported an increase of about 2.5 percent in quarterly net profit, mainly helped by its financial markets business. Net income rose to C $415 million, or C $1.16 per share, in the first quarter ended Jan. 31 from C $405 million, or C $1.15 per share, a year earlier. Higher trading activity and banking...

  • LONDON, Feb 24- The dollar rose to a two-week high against the yen on Tuesday ahead of testimony by Federal Reserve chief Janet Yellen, which should show whether the U.S. central bank is on track to raise interest rates later this year. A more subdued performance against the euro, where investors were awaiting the reaction of Germany and other euro zone leaders to...

  • FOREX-New Zealand dollar sags, eyes on Fed's Yellen Tuesday, 24 Feb 2015 | 4:04 AM ET

    *Greece presents reform plan on Tuesday. LONDON, Feb 24- The New Zealand dollar was the biggest mover on major currency markets on Monday, diving more than one percent against its U.S. counterpart after a drop in inflation expectations. The yen inched lower against the dollar and the euro was steady as investors awaited the next stage in talks over a temporary...

  • Jan 28- Cenovus Energy Inc Canada's No. 2 independent oil producer, cut its 2015 capital budget by C $700 million on Wednesday, blaming plunging crude oil prices. The savings will come from suspending the bulk of Cenovus's conventional drilling program in southern Alberta and Saskatchewan, and delaying some long-term expansions and new projects in the oil...

  • TORONTO, Jan 27- The Royal Bank of Canada, Canada's biggest lender, said on Tuesday it would cut its prime lending rate by 15 basis points, becoming the first of Canada's big banks to trim borrowing costs nearly a week after the central bank stunned markets with a rate cut. It is the first of Canada's big six banks to cut its prime lending rate in the wake of the Bank of...

  • *Syriza victory in Greece stokes concerns over Europe instability. Syriza leader Alexis Tsipras promised Greeks on Sunday that the five years of austerity imposed under bailout programmes worth 240 billion euros from the European Union and the International Monetary Fund were over. Expectations that a compromise can be reached between Athens and its...

  • FOREX-Euro steadies despite Greek worries Monday, 26 Jan 2015 | 3:34 AM ET

    LONDON, Jan 26- The euro regained a foothold in early deals in London on Monday, investors choosing to take some profit on two days of dramatic losses after the results of elections in Greece sent the single currency to an 11- year low. Dealers and analysts in London said the most likely next move was still down but that the European Central Bank's announcement of...

  • TORONTO, Jan 21- Canada's main stock index rallied on Wednesday after the central bank cut its benchmark rate in a shock move, helping boost shares of energy companies as well as interest-sensitive banks and other financial issues. "The Bank of Canada's surprise cut to its overnight rate will help to buffer against the impact on employment, household incomes and...

  • OTTAWA, Dec 23- The Canadian economy showed surprising strength in October, growing by 0.3 percent after a 0.4 percent gain in September, partly the result of an unexpected surge in manufacturing, according to Statistics Canada data released on Tuesday. Public sector output also jumped because a British Columbia teachers' strike ended, and mining, oil and gas...