Co-operative posts drop in third quarter surplus earnings
The second-largest bank in the United States, Citigroup, will cut 52,000 jobs in the coming months, the company’s chief executive said on Monday.Citigroup CEO Vikram Pandit told the company’s employees of the cuts during a morning town-hall meeting.The cuts will take Citigroup’s workforce down from 375,000 employees at the end of 2007 to roughly 300,000. […]
Industrial Alliance Insurance and Financial Services Inc. has entered into an agreement with a syndicate of underwriters led by Scotia Capital Inc. to buy $100 million of preferred shares, the Quebec City-based insurer announced Monday.The underwriters have agreed to buy, on a bought deal basis, 4 million Non-Cumulative 5-Year Rate Reset Class A Preferred Shares […]
Japan enters recession
Canada’s tax burden in the middle of the pack for high-income individuals
Eight in 10 will maintain or increase charitable giving this holiday season: poll
On Wednesday, Statistics Canada reports on international securities transactions for September. Economists are forecasting a net outflow of $1.5 billion.Separately, StatsCan reports on the leading indicators for October. Economists forecast a drop of 0.2%.Also Wednesday, Bank of Canada Governor Mark Carney addresses the Canada-United Kingdom Chamber of Commerce in London, England.On Thursday, Statistics Canada reports […]
Proposals on the incidental selling of insurance don’t go far enough
Toronto stocks staged a broad retreat on Friday, led lower by weakness in energy and materials issues.The S&P/TSX composite index closed down 296.82 points, or 3.17%, at 9,055.96, after rising 4.8% on Thursday.The index was down 5.6% for the week.Eight of the 10 main TSX groups ended in the red, with consumer staples rose 0.08%, […]
Legacy Associates fined $15,000 for compliance violations