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Stock Market & Financial Investment News

News Breaks
January 28, 2013
13:42 EDTCM, TD, BNS, RY, NTIOF, BMO, RBCMoody's cuts six Canadian banks, including Bank of Montreal, CIBC
Moody's downgraded the long-term ratings of six Canadian banks concluding its review initiated on October 26. 2012. The long-term senior debt ratings of the banks were all downgraded by one notch. The rating agency also removed systemic support from the ratings of all rated Canadian banks' subordinated debt instruments, including those issued by Royal Bank of Canada (RY). RBC's other ratings were affirmed. The downgrades include Bank of Montreal (BMO) to Aa3 stable from Aa2 for long-term deposits, Bank of Nova Scotia (BNS) to Aa2 stable from Aa1 for long-term deposits, Canadian Imperial Bank (CM) to downgraded to Aa3 stable from Aa2 for long-term deposits, National Bank of Canada (NTIOF) to Aa3 stable from Aa2 for long-term deposits, and Toronto-Dominion (TD) to Aa1 stable from Aaa for long-term deposits.
News For BMO;BNS;CM;NTIOF;TD;RBC;RY From The Last 14 Days
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April 23, 2014
06:59 EDTCMCIBC, private equity firms explore bids for Russell Investments, Reuters says
Canadian Imperial Bank of Commerce and two private equity firms are contemplating bids for Russell Investments, according to Reuters, citing several people familiar with the matter. The sources said that Northwestern Mutual Life Insurance, which owns Russell Investments, is aiming to find a buyer for both the investment management and indexes divisions of Russell for $3B. Reference Link
April 22, 2014
07:33 EDTCMCIBC, Cardtronics form new ATM branding relationship in Canada
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April 15, 2014
16:24 EDTBNSScotiabank announces retirement of COO Sabi Marwah
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14:34 EDTRYRoyal Bank of Canada to spin proprietary-trading unit into fund, WSJ says
The Royal Bank of Canada plans to spin off its Global Arbitrage and Trading arm into a stand-alone hedge fund in which the bank will likely be an investor, but not an owner, according to The Wall Street Journal, citing people familiar with the matter. The move, prompted by the Volcker rule, may be made as soon as the end of this year, the report added. Reference Link
14:17 EDTRYRBC to spin off proprietary-trading arm in response to Volcker rule, DJ says
Royal Bank of Canada will likely invest in the spun-off hedge fund but not be an owner, according to Dow Jones, citing a source.
08:31 EDTTDCGI Group extends pact with TD Bank for investment funds platform
CGI (GIB) announces an extension to an existing agreement with TD Bank (TD) that will allow CGI to continue processing TD's mutual fund transactions under a managed services model until as late as 2026.
07:28 EDTRYSEC officials weighing curbs on trading fees, WSJ says
SEC officials, including some commissioners, are considering a trial program to curb "maker-taker" fee plans that are a major source of revenue for exchanges and some high-frequency trading firms, according to The Wall Street Journal. Fund managers, including BlackRock (BLK), are concerned about the negative effects of maker-taker, the report added. IntercontinentalExchange (ICE) CEO Jeffrey Sprecher, along with representatives from T. Rowe Price (TROW) and from RBC Capital (RY), recently held a series of private meetings with SEC Chairman Mary Jo White to push for its elimination, according to the report, citing people familiar with the matter. Like IntercontinentalExchange, which owns the New York Stock Exchange, Nasdaq (NDAQ) is a publicly-traded exchange operator. Reference Link

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