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Jun 4, 2015

Credit Suisse expands Canadian energy team as asset demand grows

TORONTO, June 4 (Reuters) – Credit Suisse is
building a specialized team in Canada to take advantage of an
increase in interest from big energy and financial players in
oil and gas assets that have been put on the block by companies
weakened by lower oil prices.

Senior Credit Suisse executives said on Thursday the bank is
putting together an acquisition and divestiture (A&D) team that
will initially be comprised of two or three members, and that is
likely to be expanded in time.

Jun 1, 2015

AngloGold in exclusive talks with Newmont on Colorado mine: sources

TORONTO/VANCOUVER (Reuters) – Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz) is in exclusive talks with AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile, Research, Stock Buzz) as it moves closer toward clinching a deal to buy the African miner’s Cripple Creek & Victor gold mine in Colorado, according to two sources familiar with the matter.

A sale could be finalized soon, and the price for the gold asset is likely to be well below the $1 billion that was initially speculated on by analysts, said the sources, who asked not to be named as they are not authorized to discuss the matter publicly.

May 29, 2015

Scotiabank 2nd-quarter profit tops estimates, to buy back shares

TORONTO, May 29 (Reuters) – Bank of Nova Scotia
reported a quarterly profit that beat market expectations on
Friday as earnings grew at its Canadian banking division, and
said it plans to buy back shares.

The second-quarter report from the country’s third-largest
lender rounds up the results of the six major Canadian banks,
all of which beat earnings expectations. Three of them, Bank of
Montreal, National Bank of Canada and Canadian
Imperial Bank of Commerce, also raised their dividends.

May 28, 2015

RBC profit tops expectations on domestic banking, capital markets

TORONTO, May 28 (Reuters) – Royal Bank of Canada,
the country’s top lender, posted a better-than-expected
quarterly profit on Thursday, helped by strength in its domestic
banking and capital markets divisions.

Net income in the company’s Canadian banking segment climbed
7 percent in the second quarter, supported by healthy fee-based
revenue growth.

May 28, 2015

TD profit beats estimates on Canadian retail, wholesale strength

TORONTO, May 28 (Reuters) – Toronto Dominion Bank
posted a quarterly profit that beat market expectations on
Thursday, driven by strong growth in its Canadian retail and
wholesale businesses.

The Canadian retail segment recorded an 8 percent rise in
the second quarter, forming a big part of the company’s overall
earnings. It was supported by loan and deposit volume growth,
new asset growth in the wealth business and gains in insurance.

May 27, 2015

Canada startup Payfirma raises capital, mulls 2016 IPO

TORONTO (Reuters) – Canadian payments software startup Payfirma has raised C$13 million ($10.42 million) in its first institutional funding round and is considering an initial public offering in 2016, its chief executive officer said on Wednesday.

CEO Michael Gokturk said in an interview the company is considering an IPO as early as 2016, and could list in Toronto and New York. The executive had previously co-founded payments company Versapay Corp (VPY.V: Quote, Profile, Research, Stock Buzz) and taken it public.

May 27, 2015

BMO, National profits top expectations; dividends raised

TORONTO, May 27 (Reuters) – Canadian lenders Bank of
Montreal and National Bank of Canada reported
higher-than-expected quarterly profits and raised their
dividends following growth in their wealth management and
personal and commercial banking units.

The results on Wednesday came amid concerns that a slowdown
in oil prices and sluggishness in the Canadian economy might
hurt banks. With growth in the domestic business harder to come
by, some have been expanding their wealth management businesses
and looking for U.S. acquisitions.

May 25, 2015

Canadian start-up Shoes.com eyes fall IPO after funding round

TORONTO (Reuters) – Canadian e-commerce start-up Shoes.com Technologies plans to go public this fall following a private funding round that tapped high-net-worth individuals and private institutional capital, Chairman Roger Hardy said on Monday.

The company raised C$45 million ($36.55 million) earlier this month, valuing it at C$320 million. The offering was oversubscribed by two to three times, Hardy said, adding that it was the largest unbrokered private placement for a Canadian e-commerce company.

May 21, 2015

Canadian public pension fund looking at deals in energy sector

TORONTO (Reuters) – The Canada Pension Plan Investment Board (CPPIB), one of the world’s biggest dealmakers, is looking at deals in the energy sector as a selloff in the price of oil makes valuations more appealing, its top executive said on Thursday.

The fund, which delivered gross investment returns of 18.7 percent for its fiscal 2015, is evaluating a number of opportunities in Western Canada, Chief Executive Officer Mark Wiseman said in an interview.

May 19, 2015

Canadian commercial lending edged up in first quarter -PayNet

TORONTO, May 19 (Reuters) – Commercial borrowing by small
and medium-sized businesses in Canada rose slightly in the first
quarter as modest growth in the agriculture and construction
industries helped offset weakness in the energy sector, data
from PayNet showed on Tuesday.

PayNet, which tracks commercial financing for millions of
small and medium-sized businesses in North America, said its
Canadian Business Lending Index rose to 206 in the first quarter
from 204 in the fourth quarter.