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Canadian Financial News

Supreme Court rules against banks in highly watched case

Friday, September 19, 2014 12:00 AM - Barrie McKenna, The Globe and Mail

The Supreme Court of Canada has ruled against nine of the country’s largest financial institutions in a decade-old class action lawsuit that raises questions about provincial power in federally regulated industries.

Dodig focuses on stability as new era dawns at CIBC

Monday, September 15, 2014 12:00 AM - Tim Kiladze, The Globe and Mail

Canadian Imperial Bank of Commerce’s new chief executive has unveiled an executive team focused on continuity, despite one notable departure.

TD, RBC among buyers if HSBC sells Canada unit, analyst says

Friday, September 12, 2014 12:00 AM - Doug Alexander, Bloomberg

Toronto-Dominion Bank and Royal Bank of Canada are among lenders that would find HSBC Holdings Plc’s Canadian operations attractive if they were for sale, BMO Capital Markets analyst Sohrab Movahedi said.

RBS, Lloyds to move south if Scots vote for independence

Thursday, September 11, 2014 12:00 AM - Matt Scuffham, Reuters

Scotland's two biggest banks have said they would relocate to England if Scots vote for independence next week, adding to the economic uncertainties the country faces if it decides to end its 307-year union with the rest of the UK.

Bank of Montreal brings back the 2.99% mortgage

Wednesday, September 10, 2014 12:00 AM - Tavia Grant, The Globe and Mail

Bank of Montreal has once again lowered its five-year fixed mortgage rate to 2.99 per cent, from 3.29 per cent, a move that could cause more downward pressure on rates at a time when they’re already defying expectations.

Scottish banks gird for possible independence

Tuesday, September 09, 2014 12:00 AM - Matt Scuffham and Simon Jessop London, Reuters

Scotland’s bankers will ensure their vaults and cash machines are fully stocked in case a vote for Scottish independence prompts customers to pull their deposits.

Manulife buys Canadian assets of Standard Life for $4B

Thursday, September 04, 2014 12:00 AM - Jacqueline Nelson, The Globe and Mail

Manulife Financial Corp. is acquiring the Canadian operations of Britain’s Standard Life PLC in a $4-billion deal that builds both insurers’ wealth businesses and boosts Manulife’s presence in Quebec.

Fairfax Financial buys insurer Pethealth

Saturday, August 30, 2014 12:00 AM - James Bradshaw, The Globe and Mail

Fairfax Financial Holdings Ltd. has struck a deal to acquire Oakville Ont.-based Pethealth Inc. for $100 million, boosting its bet on the burgeoning pet insurance market.

JPMorgan hack said to start months ago exploiting multiple flaws

Friday, August 29, 2014 12:00 AM - Jordan Robertson and Michael Riley, Bloomberg News

Hackers burrowed into the databanks of JPMorgan Chase & Co. and deftly dodged one of the world’s largest arrays of sophisticated detection systems for months.

CIBC profit rises on investment banking, wealth management

Thursday, August 28, 2014 12:00 AM - Reuters

Canadian Imperial Bank of Commerce reported a higher third-quarter profit on Thursday, helped by strong gains at its wealth management and investment dealer divisions.

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