The Wall Street bankers who burst Saudi Aramco’s $2-trillion bubble

The chairman of the world’s biggest oil company was about to lose his temper. At a meeting in Riyadh on a sultry October evening, Achintya Mangla, one of JPMorgan Chase & Co.’s most senior bankers, had told Yasir Al-Rumayyan there was no way international investors were going to value Saudi Aramco — just weeks away […]

Alberta considers buying back bonds to smooth issuance as outstanding debt climbs

Alberta may consider buying back some of its bonds in an effort to smooth its maturities as its debt outstanding rises. The buy-back strategy, including terms and amounts, is still under analysis, according to Jerrica Goodwin, an Edmonton-based spokeswoman at Alberta’s finance ministry said. The plan, which may start as soon as the next fiscal […]

CIBC and TD see profit drop after rise in loan-loss provisions

Both the Toronto-Dominion Bank and the Canadian Imperial Bank of Commerce said Thursday that they saw profit slip in the fourth quarter after having to set aside more money for possibly sour loans. TD Bank reported net income of nearly $2.9 billion for the three months ended Oct. 31, down almost four per cent from […]

Bank of Montreal hikes dividend as profit beats expectations on strength in personal banking

Bank of Montreal beat Wall Street estimates for quarterly profit on Tuesday, helped by strength in its domestic personal and commercial banking unit. The bank raised its quarterly dividend 2.9 per cent to $1.06 a share. Net income rose 6 per cent to $716 million in the unit, the lender’s biggest. Personal and commercial banking […]

Scotiabank expects ‘high single digit’ growth in foreign business after year of weaker gains

The Bank of Nova Scotia on Tuesday downplayed the toll that recent unrest in Latin America is likely to take on the lender’s business, saying that fallout from protests in Chile is expected to have a limited impact and highlighting that economic growth will be stable or improving in other key markets. Scotiabank president and […]