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Canadian Financial News

Morgan Stanley quarterly profit more than doubles

Thursday, July 17, 2014 12:00 AM - Lauren Tara LaCapra and Tanya Agrawal, Reuters

Wall Street bank Morgan Stanley's (MS.N) quarterly adjusted earnings more than doubled as stronger performances by its investment banking and wealth management businesses more than made up for a fall in revenue from bond trading.

Litigation costs hit Bank of America quarterly profit

Wednesday, July 16, 2014 12:00 AM - Tanya Agrawal and Peter Rudegeair, Reuters

Bank of America Corp, the second-largest U.S. bank by assets, reported a 43 percent drop in second-quarter profit as mortgage revenue fell and litigation costs soared.

Higher investment gains boost Goldman profit

Tuesday, July 15, 2014 12:00 AM - Anil D'Silva and Lauren Tara LaCapra, Reuters

Goldman Sachs Group Inc. reported a better-than-expected 5 percent rise in second-quarter profit, driven by strong gains in equity investments and higher revenue from investment banking.

JPMorgan profit falls 8% as fixed-income trading income slides

Tuesday, July 15, 2014 12:00 AM - David Henry and Tanya Agrawal, Reuters

JPMorgan Chase & Co, the biggest U.S. bank by assets, reported an 8 percent decline in second-quarter profit as a pullback in trading of bonds and currencies by big institutions hit revenue in its securities trading business.

Citi profit hit by shoddy mortgage securities charge

Monday, July 14, 2014 12:00 AM - Tanya Agrawal and David Henry, Reuters

Citigroup Inc. reported a 96 percent drop in quarterly earnings after taking a charge of $3.8 billion related to a $7 billion settlement with the U.S. Department of Justice over the sale of shoddy mortgage-based securities.

Citi agrees to pay $7B to settle U.S. securities investigation

Monday, July 14, 2014 12:00 AM - Anil D'Silva, Reuters

Citigroup Inc. said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis.

Wells Fargo reports slight profit rise, says economy improving

Friday, July 11, 2014 12:00 AM - Peter Rudegeair, Reuters

Wells Fargo & Co., the largest U.S. mortgage lender, reported a 3 percent rise in quarterly profit and said it was seeing a number of signs that the U.S. economy was improving.

Citigroup to pay $7B to resolve U.S. mortgage probes

Wednesday, July 09, 2014 12:00 AM - Karen Freifeld and Aruna Viswanatha, Reuters

Citigroup Inc. is close to paying about $7-billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter said on Tuesday.

Moody's revises outlook on Canadian bank system downward

Tuesday, July 08, 2014 12:00 AM - Cameron French, Reuters

Moody's Investors Service said on Tuesday it has revised its outlook on the Canadian banking system downward due to concerns the government is becoming less willing to bail out banks in the event of a financial crisis.

Global bank profits hit $920B as Chinese lenders boom

Monday, June 30, 2014 12:00 AM - Steve Slater, Reuters

China's top banks accounted for almost one-third of a record $920 billion US of profits made by the world's top 1000 banks last year, showing their rise in power since the financial crisis, a survey showed on Monday.

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