Daily News

Source: BNN Bloomberg August 25, 2023

Experts react to Q3 earnings from TD, RBC

The first set of third-quarter earnings from Canadian banks show the industry is facing rising expenses, but one portfolio manager says now is not the time to sell these stocks.    TD Bank missed analyst expectations amid rising expenses and loan loss provi...

Source: BNN Bloomberg August 25, 2023

TSX today: Index finishes 0.52% lower amid broad-based losses

Canada's main stock index declined by more than 100 points Thursday amid broad-based weakness, while U.S. markets also moved lower.  The S&P/TSX Composite Index closed down 103.96 points, or 0.52 per cent, at 19,775.83. In New York, the Dow Jones Indust...

Source: Financialpost August 25, 2023

Subway sandwich chain sold to Roark Capital in $9-billion deal

Private equity firm enters into definitive agreement to buy chain after seeing off late challenge from rival bid Roark Capital Group has won the race to acquire United States sandwich chain Subway after seeing off a late challenge from a rival...

Source: Financialpost August 25, 2023

RBC says it will cut more jobs as profit beats expectations

Earnings boosted by strength in its personal and commercial banking and insurance operations TORONTO — Royal Bank of Canada says its third-quarter profit rose compared with a year ago and said it remained focused on reducing costs and expected...

Source: Financialpost August 25, 2023

TD Bank misses estimates as expenses, loan losses climb

Signal that borrowers are feeling squeezed by aggressive rate hikes Toronto-Dominion Bank saw its expenses and provisions for credit losses rise in the third quarter, another signal that borrowers are feeling squeezed by aggressive rate hikes....

Source: Financialpost August 25, 2023

CRA decision to deny taxpayer late-filing relief sent back for review by judge

Jamie Golombek: Court says CRA was 'unreasonable' and conclusion 'not justified, transparent or intelligible' Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purch...

Source: Financialpost August 25, 2023

Posthaste: Bank of Canada could cut interest rates earlier than expected — if it goes by this data

CIBC says rising jobless rate could bring end to higher interest rates We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Bank of Cana...

Source: BNN Bloomberg August 24, 2023

QQQ climbs in late trading after Nvidia's results

Stocks climbed the most since June, while bond yields fell after economic reports in both the U.S. and Europe fueled bets that major central banks will pause their interest-rate hikes to prevent a recession. In late-trading, a US$200 billion exchange-trade...

Source: BNN Bloomberg August 24, 2023

What are analysts expecting from Canadian bank earnings?

Analysts are watching for how higher interest rates are weighing on Canadian banks as the sector gears up to report earnings.   TD Bank and the Royal Bank of Canada are set to report earnings on Thursday. The Bank of Montreal and the Bank of Nova Scotia will...

Company News Source: BNN Bloomberg August 24, 2023

Canada bank results seen hit by expenses, strained consumers

After months of underperforming the broader market, Canada’s Big Six banks are likely to continue struggling as expenses and loan-loss provisions rise and consumer finances deteriorate. Higher interest rates are expected to hurt lenders’ fiscal third-quart...