New entity will manage $40 billion in assets
U.S. stock futures reversed early gains Monday, as investors reacted to a disappointing report from Lowe’s amid news of a potential bailout of bond insurer Ambac.Home-improvement chain Lowe’s said its fourth-quarter net income slumped 33% on continued sales weakness, which it expects to persist for several more quarters.The Wall Street Journal reported over the weekend […]
Laurentian kicks off bank earnings season on Wednesday
Canadians failing to factor long term care costs into retirement planning
Comment period open until April 22
Survey finds major gap between top and bottom firms in terms of hours to respond to general email enquiries
Strong performance for 2007: StatsCan
Stocks may open mixed Friday as investors digest data on Canadian retails sales and earnings reports from Penn West Energy and Rogers Communications.Retail sales rose by 0.6% in December to an estimated $35.1 billion on the strength of sales by new car dealers. This was the third increase in retail sales in four months and […]
Credit default swaps boost revenue
Quebec’s public pension fund manager, Caisse de dépôt et placement du Québec, said today that it took a $1.9 billion provision in fiscal 2007 on its $12.6 billion of asset-backed commercial paper (ABCP) holdings.The provision, which amounts to 15% of the Caisse’s ABCP holdings, trimmed its overall return for the year ended Dec. 31 by […]