TORONTO, Feb 26 (Reuters) – Royal Bank of Canada
reported a higher quarterly profit on Wednesday and raised its
dividend by 6 percent after surging capital markets income more
than offset charges from a restructuring of Caribbean
Canada’s largest bank earned C$2.09 billion ($1.89 billion),
or C$1.38 a share, in the first quarter ended Jan. 31, up from
C$2.05 billion, or C$1.34 a share, a year earlier.
TORONTO, Feb 25 (Reuters) – Bank of Montreal
reported higher-than-expected quarterly earnings on Tuesday
after a strong performance in its wealth management business and
growth in domestic banking profits in spite of worries about a
slowing housing market.
Shares of Canada’s No. 4 bank rose modestly, outperforming
most of its peers as investors looked past year-on-year profit
declines in BMO’s closely watched U.S. retail bank.
TORONTO (Reuters) – There may not have been an Olympic medal on the line, but Canadians celebrated Friday’s semifinal hockey win versus the United States as if the weight of the world were off their backs.
One day after the Canadian women’s hockey team stormed back from a 2-0 deficit versus its U.S. rival to win Olympic gold, Canada beat the men’s team 1-0 in front of a packed Bolshoy Ice Dome, shutting out a team that had scored 20 goals in its first four games in the Olympic tournament.
TORONTO, Feb 13 (Reuters) – The profits of Canadian life
insurers grew in the fourth quarter, as higher returns from
growing wealth management units offset uneven insurance sales,
highlighting a shift in business as the companies cut risk in
the wake of the financial crisis.
Manulife Financial Corp, the country’s largest
insurer, posted a 20 percent rise in net profit for the fourth
quarter on Thursday, while No. 3 player Sun Life Financial Inc
said its profit from continuing operations more than
doubled to C$571 million ($519.78 million).
TORONTO, Feb 5 (Reuters) – Intact Financial Corp,
Canada’s largest property and casualty insurer, reported a
larger-than-expected drop in fourth-quarter profit as a winter
ice storm hurt underwriting results.
Shares of Intact, which also raised its quarterly dividend
by 9 percent, fell 1.1 percent on the results.
TORONTO/MIAMI BEACH (Reuters) – Teen pop star Justin Bieber, facing charges in the United States and Canada, had pot and anti-anxiety medication in his system when arrested in Florida last week but told police his mother “takes care” of his prescriptions, according to official reports released Thursday.
Bieber was charged late on Wednesday with assaulting a limousine driver in Toronto and the Toronto Star newspaper reported Thursday that the driver in the alleged assault in December quit his job “in shock” following the incident.
TORONTO (Reuters) – The limousine driver alleged to have been assaulted by teen popstar Justin Bieber quit his job following the December incident, the manager of the limo company told the Toronto Star in an article published on Thursday.
The driver is “in shock. Something like this does not happen in Toronto,” Tony Albert, manager of Park Lane Livery limousines, told the newspaper. He said the driver was middle-aged and new to the position, but he declined to disclose his identity on the advice of legal counsel.
TORONTO (Reuters) – Toronto Mayor Rob Ford lived up his reputation for surprises on Thursday when he got stuck in a hotel elevator for nearly an hour while a room full of the city’s business elite waited impatiently for him to deliver a speech.
The mishap, which delayed his arrival at an C$89-a-plate ($80) business lunch, comes just two days after a video emerged showing Ford ranting, putting on a Jamaican accent, and using profanities to describe Toronto’s police chief. On Tuesday, Ford admitted he had consumed alcohol when the video was shot on Monday night, despite his pledge late last year to quit drinking.
TORONTO (Reuters) – Toronto Mayor Rob Ford, who pledged last year to go clean after a crack-smoking scandal, admitted on Tuesday he had been drinking again after a video surfaced of him ranting about police surveillance in a mock Jamaican accent in a suburban eatery.
Asked by reporters outside his office at city hall if he had been drinking, Ford said, “Yes I was … Little bit, yeah.”
TORONTO, Jan 9 (Reuters) – Royal Bank of Canada led
investment banks in advising on equity issues and mergers and
acquisitions in Canada in 2013, but share issues overall rose
only slightly in the year and M&A activity fell hard.
In a year in which gold prices plunged and base-metal and
oil industry activity was hit by uncertainty over global
economic growth, the total value of M&A deals in 2013 fell by 31
percent to US$144.7 billion, according to data released by
Thomson Reuters on Thursday.