News
RY-PRT
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HSBC completes sale of Canadian unit to RBC
HSBC completes sale of Canadian unit to RBC. The completion will result in the recognition of an estimated gain on sale of $4.9 billion in the first quarter of 2024. HSBC Bank Canada is being sold to Royal Bank of Canada in a deal worth $3.5 billion.
Reuters · 9h ago
BRIEF-HSBC Says Completion Of Sale Of HSBC Bank Canada To RBC Will Result In Recognition Of Estimated Gain On Sale Of US$4.9Bn In Q1 Of 2024
HSBC says Completion Of Sale Of HSBC Bank Canada To RBC Will Result In Recognition Of Estimated Gain On Sale Of US$4.9Bn In Q1 Of 2024. HSBC says sale of bank to RBC will result in recognition of estimated gain on sale.
Reuters · 9h ago
CANADA FX DEBT-Canadian dollar gains as data shows economy 'humming along'
Canadian dollar strengthens 0.2% against the greenback as domestic economy grows faster than expected. Gross domestic product increased 0.6% in January from December, fastest growth in a year. Bank of Canada expected to keep interest rates on hold. Price of U.S. Oil settles 2.2%. 2-year yield touches a 9-day high at 4.210%.
Reuters · 19h ago
CANADA STOCKS-TSX climbs as investors assess GDP data; miners gain
TSX climbs as investors assess GDP data; miners gain Canadian economy grows 0.6% in January, faster than expected. Karora Resources up after Australia's Ramelius ends buyout talks. TSX up 0.3% as miners gain on higher gold prices. U.S. And Canadian markets closed for Good Friday holiday.
Reuters · 1d ago
UPDATE 1-Canada's GDP outperforms Jan growth forecast, likely grew 0.4% in Feb
Canada's gross domestic product in January increased 0.6%, the fastest growth rate in a year. January's rise helped by rebound in educational services as public sector strikes ended in Quebec. Analysts polled by Reuters had forecast growth of 0.4% in the month. The economy likely grew 0. 4% in February, Statistics Canada says.
Reuters · 1d ago
PRESS DIGEST-Canada - March 28
RCMP is specifically investigating concerns tied to the federal government's ArriveCan app. Simon & Schuster has hired Penguin Canada publisher Nicole Winstanley to run its Canadian operations. Royal Bank of Canada's Andre-Philippe Hardy rejoins TD as head of Canadian research.
Reuters · 1d ago
CANADA STOCKS-Toronto healthcare stocks rise in flat market, Canada Goose slides
Toronto healthcare stocks rise in flat market, Canada Goose slides TSX closes 0.14% down. Luxury parka maker Canada Goose shares fell 7% after the company announced plans to cut 17% of its workforce to rein in costs. The main share index ended steady as gains in healthcare stocks were offset by losses in energy stocks.
Reuters · 2d ago
CANADA FX DEBT-C$ steadies as BoC frets about productivity shortfall
The Canadian dollar holds a three-month low against its U.S. Counterpart. Bank of Canada highlights Canada's recent history of weak productivity growth. The loonie trades in a range of 1.3585 to the U.s. Dollar. Flash estimate shows Canadian wholesale trade up in February from January. Price of U. S. Oil settles 0.4% lower as price of oil, Canada's major exports, falls.
Reuters · 2d ago
Bank of Canada likely to lead the U.S. Fed in rate cuts
Bank of Canada likely to lead the U.S. Fed in rate cuts weaker GDP growth than the US is seen as a factor Inflation has cooled much more than in the US Canada will deeper cuts, economists say. The Bank of Canada is likely to move ahead of the US Federal Reserve on its first rate cut. The Canadian central bank may also deeper cuts in the current cycle.
Reuters · 2d ago
CANADA STOCKS-TSX gains on mining, healthcare boost
TSX up 0.15% as precious metals miners and healthcare stocks in the lead. Athabasca Oil among the top losers after a brokerage downgraded the oil explorer. Canada Goose to reduce 17% of its corporate workforce. U.S. Inflation data due on Friday.
Reuters · 3d ago
PRESS DIGEST-Canada - March 26
Manulife says RGA Life Reinsurance Company of Canada will reinsure more than $5.8 billion of risk on its books. Manitoba government reviewing contract awarded to Canadian Health Labs. Billionaire financier Stephen Smith is merging with Home Trust Co in a deal valued at $6 billion.
Reuters · 3d ago
CANADA FX DEBT-Canadian dollar posts weekly loss as data shows slowing domestic economy
Canadian dollar posts weekly loss as data shows slowing domestic economy Canadian dollar weakens 0.6% against the greenback for the week, the loonie loses 0.5% Retail sales fall 0.3% in January from December. Data adds to evidence of an economic slowdown that could spur interest rate cuts.
Reuters · 6d ago
UPDATE 1-Canada's retail sales fall in January; slight rebound seen in February
Canada's retail sales dropped by 0.3% in January after a jump in December, Statistics Canada says. Analysts had forecast a 0.4% drop in retail sales in January. Lower goods prices and sales of motor vehicle and parts weighed on sales. In volume terms, sales were up 0.2%. A slight rebound is expected in February.
Reuters · 03/22 13:36
CANADA FX DEBT-C$ weakens as U.S. data bolsters the greenback
Canadian dollar weakens 0.3% against greenback as U.S. Data bolsters the greenback. Bank of Canada welcomes signs of cooler inflation and strength in the U.s. Economy. The loonie was trading 0.4% lower at 1.3535 to the U.-S. Dollar. BoC says central bank likely to wrap up quantitative tightening in 2025. Bond yields rise across the curve.
Reuters · 03/21 19:18
ANALYSIS-Battle for Canadian bank deposits seen heating up as rate cuts loom
Bank of Canada governors have agreed that rate cuts should materialize this year. Big Canadian banks benefited from the C$350 billion pandemic-era savings. Customers are likely to divert funds parked in high-yielding fixed income products to riskier investments. Competition for customer deposits among Canadian banks seen heating up as rate cuts loom.
Reuters · 03/21 14:51
CANADA STOCKS-Toronto stocks hover near record highs on rate cut optimism
Toronto stocks hover record highs on rate cut optimism Alimentation Couche-Tard drops on earnings miss BoC says quantitative tightening should end in 2025 TSX up 0.4% after the U.S. Federal Reserve stuck to its guidance on rate cuts for 2024.
Reuters · 03/21 14:47
GRAPHIC-Switzerland surprises with rate cut, who's next?
Switzerland's Swiss National Bank cut rates by 25 bps to 1.50% on Thursday. The Bank of Japan on Wednesday delivered its first rate hike in 17 years. The U.S. Federal Reserve and the Bank of England are expected to start rate cuts this year.
Reuters · 03/21 13:56
CANADA STOCKS-TSX futures rise on commodities boost
TSX futures rise on commodities boost after U.S. Federal Reserve sticks to its guidance on rate cuts this year. Gold prices climb to a record high as prices of precious and base metals rise. March futures on the S&P/TSX index were up 0.4% at 6:57 a.m. ET.
Reuters · 03/21 11:21
CANADA FX DEBT-C$ climbs to 6-day high on Fed rate cut forecast
The Canadian dollar strengthens 0.5% against the greenback to a six-day high against the U.S. Dollar. Fed holds interest rates steady but sticks with its interest rate-cutting forecast for 2024. The loonie was trading at its strongest since last Thursday at 1.35 to the greenbacks. Bank of Canada expects to ease interest rates this year.
Reuters · 03/20 19:26
MOVES-RBC's strategy chief to depart, memo shows
Royal Bank of Canada's chief administrative and strategy officer, Christoph Knoess, to leave the bank. RBC has seen a number of high-profile departures in recent months. Legal chief Maria Douvas will take on the additional role of chief executive officer. KnoESS joined the bank in 2019 and oversaw key initiatives.
Reuters · 03/20 16:56
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About RY-PRT
Royal Bank of Canada is a Canada-based diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. Its segments include Personal & Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. Personal & Commercial Banking segment provides a range of financial products and services to individuals and businesses for their day-to-day banking, investing and financing needs through two businesses: Canadian Banking, and Caribbean and United States Banking. Wealth Management segment offers a comprehensive suite of investment, trust, banking, credit and other advice-based solutions. Its Insurance segment offers a range of advice and solutions for individual and business clients including life, health, wealth, home, auto, travel, annuities and reinsurance.