Business News Toronto

  • Dec 10- Canada's banking regulator on Tuesday raised the amount of capital lenders must hold to guard against risks including near-record household and corporate debt levels, as Moody's Investor Service highlighted high consumer leverage as a "persistent vulnerability." The move by the regulator, the Office of the Superintendent of Financial Institutions,...

  • Dec 10- Canada's banking regulator on Tuesday increased the capital lenders must hold to protect against risks to 2.25% of total risk-weighted assets, adding to the challenges they face following their worst year of earnings growth since the financial crisis. The Office of the Superintendent of Financial Institutions, which reviews the domestic stability...

  • *Jiangxi Copper to buy PIM Cupric Holdings for $1.1 bln. State-backed Jiangxi Copper, one of China's biggest copper producers, said on Monday it would buy Cupric Holdings Ltd from Pangaea Investment Management Ltd.. The target held around 18.015% of First Quantum's issued share capital as of Dec. 9, according to a separate Jiangxi Copper filing to the Hong Kong...

  • Dec 9- A Canadian Pacific Railway train hauling oil derailed west of Guernsey, Saskatchewan, early on Monday, spilling crude and causing a fire that was expected to burn into a second night. The train derailed around midnight in the western Canadian province, and an initial assessment indicated the accident did not affect any waterways, CP spokesman Andy...

  • *China Nov exports fall as trade war bites. *Focus turns to U.S.- China tariff deadline. NEW YORK, Dec 9- The dollar was little-changed against a basket of currencies on Monday as investors awaited fresh developments in the 17- month-long U.S.- China trade war, while the pound crept higher on the latest polls ahead of this week's British election.

  • NEW YORK, Dec 9- The Canadian dollar gained against the greenback on Monday as investors focused on whether the United States will implement new tariffs on China this weekend, but the loonie pared only half of the losses sustained on Friday after data showed a slump in domestic jobs. The loonies move on Monday likely resulted from broader risk appetite rather...

  • *China Nov exports fall as trade war bites. *Pound up on expectations of Conservative win in UK election. *Focus turns to U.S.- China tariff deadline.

  • The push is aimed at ratcheting up pressure on UK- based Centamin before a month-end deadline by which Endeavour must decide whether to pursue the deal or scrap it entirely. "Our friendly approach, confidential to the board, was refused despite the merit we see in this transaction," Endeavour Chief Executive Officer Sébastien de Montessus told Reuters on...

  • Dec 5- Canadian banks are bracing for another year of muted earnings growth after disappointing quarterly results erased about C $21 billion from their market values in the past week and closed out the worst year for profit expansion since the financial crisis. Oil price declines and decade-high consumer insolvencies in Canada are also creating headwinds.

  • Toronto Dominion Bank, Canada's largest bank by assets, and Canadian Imperial Bank of Commerce posted smaller-than-expected quarterly profits on Thursday, sending shares sliding, a similar reaction to the results of all but one of the remainder of Canada's six biggest banks. Oil price declines and decade-high consumer insolvencies in Canada are also...

  • Gabriel Dechaine, an analyst at National Bank of Canada Financial Markets, said the division's woes are far from over. As TD and Canadian Imperial Bank of Commerce prepare to wrap up the 2019 fiscal reporting season on Thursday, the picture emerging is of a sector battling higher bad debt provisions, margin pressure in the United States and a sluggish...

  • As TD and Canadian Imperial Bank of Commerce prepare to unveil quarterly earnings Thursday, wrapping up the 2019 fiscal reporting season, the picture emerging is of a sector battling higher bad debt provisions, margin pressure in the United States and a sluggish environment for deals, making it the worst year for earnings growth since the financial crisis.

  • Dec 4- Canada's Bombardier will hit its 2019 delivery targets for its Global 7500 business jet, as the company redirects manpower from other planes to its flagship corporate aircraft program, an executive said on Wednesday. Bombardier's strategy of shifting manpower from its Global 5500 and 6500 business jets to the Global 7500 is working and will help the...

  • TORONTO/ LONDON, Dec 4- Gold miners look set to extend a deal spree after notching transactions worth a record $30.5 billion this year, according to data, the biggest M&A binge since bullion prices peaked nearly a decade ago. This year has seen 348 deals worth more than $30.5 billion, including net debt, according to Refinitiv Eikon data. That is up from $10.8 billion...

  • As TD and Canadian Imperial Bank of Commerce prepare to unveil quarterly earnings Thursday, wrapping up the 2019 fiscal reporting season, the picture emerging is of a sector battling higher bad debt provisions, margin pressure in the United States and a sluggish environment for deals, making it the worst year for earnings growth since the financial crisis.

  • The announcements followed a bleak year for the industry, as full pipelines prompted Alberta to curtail production, share prices sagged, and Encana Corp said it would re-base to the United States. CNRL, which bought Devon Energy Corp's Canadian assets this year for $2.8 billion, said on Wednesday it expects to spend C $4.05 billion in 2020, C $250 million more...

  • *U.S.- China trade deal still in focus. NEW YORK, Dec 4- The dollar fell to a one-month low on Wednesday, undermined by weaker-than-expected U.S. private sector job growth data that followed soft manufacturing numbers earlier in the week that fueled worries the world's largest economy could slip into recession. "We have seen big U.S. data misses this week and that...

  • Royal Bank, Canada's biggest lender by market value, posted a 12% drop in adjusted earnings from its capital markets unit, driven by lower investment banking and trading revenues. But National Bank said income from its financial markets business rose 7%, as revenue from equity and fixed-income securities trading offset declines in other asset classes and...

  • Dec 4- Google Chief Executive Officer Sundar Pichai will replace Larry Page as CEO of parent Alphabet Inc, heralding a new chapter for the company that helped reshape the global tech industry under its co-founders Page and Sergey Brin. Known as Alphabet's " Moonshot Factory," X is a research and development unit that acts as a nursery for the company's many...

  • "It's generally accepted that BMO is behind the others in this area," said John Kinsey, portfolio manager at Caldwell Securities, adding that banks' investments in technology portend more job cuts across the industry. BMO shares dropped 2.5% to C $98.14 at midday in Toronto, set for their lowest close in about a month. The Toronto stock benchmark fell 0.7%.