Unitholders of MD US Large Cap Growth Fund and MD US Large Cap Value Fund have voted in favour of changes to the investment objectives of the funds, MD Funds Management Inc. said today.As well, the assets of the MD US Small Cap Growth Fund will be merged with the assets of MD American Growth […]
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 […]