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Canadian Financial News

Twenty-five European banks set to fail health checks: sources

Friday, October 24, 2014 12:00 AM - Reuters

A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the region's lenders.

Canadian trading hub for yuan could materialize as early as November

Friday, October 24, 2014 12:00 AM - Nathan Vanderklippe and Adrian Morrow

The Canadian business establishment expects Ottawa to soon consummate a deal with Beijing that would foster far easier trade between the loonie and China’s currency.

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.

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