Oceanex Income Fund today said it reached an agreement to sell all of its assets to South Coast Partners Limited Partnership at a price equalling $19 for each outstanding Oceanex unit on a fully diluted basis.South Coast is a newly formed company owned by a consortium of investors comprised of Captain Sidney J. Hynes, OPTrust […]
The North American markets should add to solid gains that were posted yesterday afternoon once the U.S. Federal Reserve chopped it key fed funds rate for the first time in four years.Futures prices were all heading higher for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100.On the inflation front, Canadian investors […]
Money management firm cites new assets and cost containment
Company says new funds and shares will help investors manage risks
Funds wants to alter mix of non-venture investments, add new shares
Canada’s funds vote with corporate management two-thirds of the time
The U.S. Federal Reserve today sliced its key federal funds rate to 4.75% from 5.25%, the first downward move in the rate in four years.U.S. stocks added heavily to earlier gains, with the Dow Jones industrial average up about 189 points to 13,592 shortly after the Fed’s 2:15 pm ET announcement.The rate, which is the […]
BMO Capital Markets today said it is launching new global treasury-management services that will make it easier for companies in Canada and the U.S. to conduct business around the world.The investment and corporate banking arm of BMO Financial Group said clients will be able to manage cash flow and all of C$, US$ and euro […]
Fund company receives approval to change investment objectives
Amex Bank of Canada today said it is not affected by news that American Express has agreed to sell its international banking subsidiary American Express Bank Ltd to Standard Chartered Bank.American Express in Canada operates as Amex Bank of Canada and AmexCanada Inc., wholly-owned units of American Express Travel.“The sale of AEB will not include […]