The U.S. markets should open a bit higher today, but an absence of economic data and earnings reports means there is little reason for any broad price movements.The C$, meanwhile, opened in North America at parity with the US$, right down to the smallest fraction. One C$ equalled exactly one US$.The C$, which closed Thursday […]
The Investment Dealers Association said it has imposed $795,000 in discipline penalties on National Bank Financial for violations of various bylaws and regulations.The penalty, plus a further $50,000 for costs, largely stems from misconduct at an NBF branch in Joliette, Que.“National Bank cooperated fully with the investigation of the matters which are the subject of […]
New Master Declaration of Trust for I.G. Investment Management funds
Canadians are a bit more worried about prospects for the Canadian economy in the next year but remain confident about the longer term, a survey released today shows.The Harris/Decima-Investors Group Index of Canadian Consumer Confidence fell 1.7 points to 86.1 from the last quarter.The data, based on a telephone survey of 2,012 Canadians between Aug. […]
IBM Corp. today said it signed a $480 million multi-year agreement to manage Scotiabank’s information technology operations, including data centres, branches, automatic banking machines and help-desk support.The contract includes advanced technologies such as server virtualization and new service delivery capabilities, as well as a new global framework to support Scotiabank’s worldwide operations.“Scotiabank understands technology can […]
The Investment Dealers Association today said it will hold an Oct. 22 hearing in Montreal to consider a settlement agreement with Dan Ionescu, a former registered rep with iForum Securities Inc.“The offences occurred between May 2003 and January 2004 and pertain to a lack of due diligence on the part of Mr. Ionescu to ascertain […]
The powerhouse C$ today reached parity with the US$ for the first time since November 1976, actually touching $1.003 US before easing down a bit.The Bank of Canada confirmed the milestone, saying the first equal meeting of the two currencies took place in late-morning trading.The C$, which closed today at 99.87 cents US, has soared […]
The worst of the U.S. subprime mortgage meltdown is yet to come, but losses won’t be as high as the markets have already priced-in, CIBC World Markets said today.While the rate of U.S. mortgage defaults is surging to unprecedented levels, the market has actually overpriced the scope of the problem, it said in a report. […]
The major markets are expected to begin the day on a mixed note, as investors once again become wary about the U.S. economy and world oil prices.Futures prices were slightly lower for the Dow Jones industrial average, S&P 500 and the Nasdaq 100.A pre-open surprise, however, was news that investment bank Goldman Sachs Group reported […]
Canada’s Provincial Credit Union Centrals and Desjardins Group today said they have created a partnership aimed at increasing the growth rate of The Ethical Funds Co. and Northwest Mutual Funds Inc. through increased product distribution.The deal creates a national investment firm with $5.5 billion in assets under management. Northwest Funds and Ethical Funds will be […]