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Canadian Financial News

Auto lending puts Canada’s banks at risk in slump: Moody’s

Thursday, October 23, 2014 12:00 AM - Doug Alexander, Bloomberg

Auto loans in Canada have quadrupled since 2007, putting lenders including Toronto-Dominion Bank and Royal Bank of Canada at bigger risk of losses in an economic slump, Moody’s Investors Service said.

EU fines JPMorgan, UBS, Credit Suisse for taking part in cartels

Tuesday, October 21, 2014 12:00 AM - Foo Yun Chee, Reuters

JPMorgan, UBS and Credit Suisse were fined a total of 94 million euros ($120 million) by the European Commission for taking part in cartels in the financial sector.

Inflation hits Bank of Canada target of 2% in September

Friday, October 17, 2014 12:00 AM - David Parkinson, The Globe and Mail

Canada’s inflation rate hit 2.0 percent in September, down slightly from from August’s 2.1 percent, as higher food and shelter costs were offset by a decline in gasoline prices.

Morgan Stanley profit jumps 87% as trading activity rebounds

Friday, October 17, 2014 12:00 AM - Tanya Agrawal and Lauren Tara LaCapra, Reuters

Morgan Stanley reported an 87 percent rise in third-quarter earnings as the Wall Street bank's trading and wealth management businesses benefited from increased client activity.

If you're a Goldman Sachs banker, don't expect a fat bonus

Friday, October 17, 2014 12:00 AM - Lauren Tara Lacapra, Reuters

Top Goldman Sachs Group Inc. executives are determined to keep compensation costs under control. And that means even when the bank's revenue spikes higher, bankers' bonuses won't.

Goldman Sachs profit gets big boost from bond market pickup

Thursday, October 16, 2014 12:00 AM - Tanya Agrawal and Lauren Tara LaCapra, Reuters

Goldman Sachs Group Inc. reported a 50 percent rise in third-quarter net profit on Thursday as last month's sudden pickup in bond market activity boosted trading revenue.

Record mortgage settlement pushes Bank of America into third-quarter loss

Wednesday, October 15, 2014 12:00 AM - Tanya Agrawal and Peter Rudegeair, Reuters

Bank of America Corp., the second-largest U.S. bank, reported a quarterly loss applicable to common shareholders, largely due to a huge mortgage settlement with the U.S. government.

Citigroup pulls consumer banks from 11 markets, profit tops estimates

Tuesday, October 14, 2014 12:00 AM - Anil D'Silva and David Henry, Reuters

Citigroup Inc said it would pull out of consumer banking in 11 markets, including Japan and Egypt, as the most international U.S. bank focuses on more profitable businesses.

JPMorgan posts profit as trading picks up and legal costs ease

Tuesday, October 14, 2014 12:00 AM - Tanya Agrawal and David Henry, Reuters

JPMorgan Chase & Co. posted a third-quarter profit as the biggest U.S. bank moved past the huge legal claims that pushed it into a rare loss in the same quarter last year, according to an apparently authentic bank document posted on an investment website ahead of its official release on Tuesday.

RBC opts against spinning off U.S. proprietary trading unit

Wednesday, October 01, 2014 12:00 AM - Doug Alexander and Kelly Bit, Bloomberg

Royal Bank of Canada decided against spinning off its U.S. proprietary trading business into a hedge fund, according to an e-mailed statement from the Toronto-based lender.

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