TORONTO (Reuters) – Director Jason Reitman, known for snappily written modern-day comedies like “Up in the Air” and “Juno,” tackles unfamiliar territory with his new feature “Labor Day,” a fugitive love story set in 1980s small-town America.
Adapted by Reitman from the 2009 novel by Joyce Maynard, the film centers on an agoraphobic single mother, played by Kate Winslet, and her 13-year-old son. Their lives are reshaped over a 1987 holiday weekend when an escaped convict, portrayed by Josh Brolin, forces them to shelter him from authorities.
TORONTO (Reuters) – Canadian Imperial Bank of Commerce (CM.TO: Quote, Profile, Research, Stock Buzz) said it was seeking acquisitions valued at more than C$1 billion ($948.72 million) as it tries to boost the amount of profit it generates from wealth management.
“Much of the growth that we are planning will come from the U.S. and will be focused on asset management, private wealth management and private banking,” Chief Executive Officer Gerry McCaughey said on Wednesday.
TORONTO, Aug 30 (Reuters) – Laurentian Bank of Canada
, the country’s seventh-largest bank by assets, reported
a 6 percent fall in quarterly profit on Friday as higher
operating and integration costs stemming from recent
acquisitions offset higher revenue.
Shares of Montreal-based Laurentian, which operates almost
exclusively in the province of Quebec, were down 0.9 percent
after the results were released.
TORONTO, Aug 29 (Reuters) – Canadian Imperial Bank of
Commerce will part with around C$3 billion ($2.85
billion) of credit card receivables if its deal to sell half of
its Aeroplan Visa credit card portfolio with Toronto-Dominion
Bank goes through.
Speaking on a conference call to discuss the bank’s
third-quarter results, Chief Financial Officer Kevin Glass said
on Thursday that the Aeroplan portfolio currently accounts for
about C$6 billion in outstanding receivables.
TORONTO, Aug 29 (Reuters) – Three of Canada’s biggest banks
posted better-than-expected third-quarter results on Thursday,
pushing their shares higher as surprisingly strong retail
lending and wealth management income offset weakness in
investment banking and trading profits.
Royal Bank of Canada and Toronto-Dominion Bank
, the country’s top two banks, both announced dividend
hikes, while No. 5 lender Canadian Imperial Bank of Commerce
said it would buy back as much as 2 percent of its stock
over the next 12 months.
TORONTO (Reuters) – Toronto-Dominion Bank’s (TD.TO: Quote, Profile, Research, Stock Buzz) quarterly profit fell 10 percent as Canada’s No. 2 lender took C$418 million in insurance-related charges, but the result topped estimates and the bank hiked its dividend by 5 percent.
TD, the final large Canadian bank to report results for the period, warned last month it would take insurance charges for higher provisions in its auto lending unit as well as losses from floods in Alberta and Ontario during the summer.
TORONTO, Aug 28 (Reuters) – National Bank of Canada
reported a stronger-than-expected 10.6 percent rise in quarterly
profit on the back of higher wealth management and trading
income, pushing its stock to a 17-month high on Wednesday.
Shares of the Canada’s sixth-largest bank, the third
Canadian lender to report results for the quarter, were up 1.3
percent at C$80.27 in morning trading in Toronto.
TORONTO (Reuters) – Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) and Bank of Montreal (BMO.TO: Quote, Profile, Research, Stock Buzz) kicked off the quarterly reporting season for Canadian banks on Tuesday with slightly stronger than expected results that highlighted the resilience of their domestic banking franchises.
Despite concerns that a cooling housing market in Canada would dry up growth in loan profits, domestic lending income was up at both banks, compensating for international banking income that fell short of expectations and pressured the shares of Scotiabank, the most internationally focused of the country’s banks.
TORONTO, Aug 27 (Reuters) – Bank of Nova Scotia
posted a slightly stronger-than-expected quarterly profit and
raised its dividend on Tuesday, as it benefited from higher
international income as well as its acquisition last year of ING
Groep’s Canadian online bank.
Net income fell 14 percent in the third quarter ended July
31, but that was due to a year-earlier gain of C$614 million
($584.01 million) from the sale of the Toronto office tower that
serves as the company’s headquarters.
TORONTO, Aug 26 (Reuters) – Canadian Imperial Bank of
Commerce and Toronto-Dominion Bank have extended
talks on a deal for CIBC to retain about half of its Aeroplan
credit card portfolio, with TD getting the rest.
The two banks, Canada’s top two credit card issuers, had set
Monday as a deadline to hammer out a deal with Aeroplan program
owner Aimia Inc for the two splitting the portfolio
essentially down the middle.