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Apr 23, 2015

CIBC says it in talks on potential $2 billion U.S. acquisition

CALGARY (Reuters) – Canadian Imperial Bank of Commerce (CM.TO: Quote, Profile, Research, Stock Buzz) is in talks with several U.S. companies on a potential $2 billion wealth-management and private-banking acquisition, its top executive said in an interview.

But Chief Executive Victor Dodig said CIBC, which has been eyeing the U.S. wealth management space for a while, must be patient as such companies don’t come cheap.

Apr 17, 2015

Two top Canada pension funds to oppose CIBC’s executive pay plan

TORONTO, April 17 (Reuters) – Two of Canada’s largest
pension funds, shareholders of Canadian Imperial Bank of
Commerce, said on Friday they will demonstrate their
unhappiness with CIBC’s executive pay structure at the lender’s
annual meeting next week.

The Ontario Teachers’ Pension Plan Board, vexed by
multimillion-dollar payments to two retired executives, plans to
withhold support for members of CIBC’s compensation committee
and to oppose the bank’s pay structure in a nonbinding vote.

Apr 17, 2015

India’s Modi courts Canadian banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded a bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 17, 2015

Modi courts Canada banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 9, 2015

Scotiabank sees opportunities in Pacific Alliance bloc

OTTAWA, April 9 (Reuters) – Bank of Nova Scotia
expects strong growth this year in the Pacific Alliance markets
of Mexico, Peru, Chile and Colombia, and could make acquisitions
to bolster its position there, a top executive said on Thursday.

“We’re seeing momentum in the international division,”
Scotiabank Chief Financial Officer Sean McGuckin said in an
interview. “We’re seeing good, top-line volume growth in the
Pacific Alliance countries. We’re projecting out stronger growth
in our international banking segment as the year progresses.”

Apr 7, 2015

TSX hits one-month high as resources gain

TORONTO, April 7 (Reuters) – Canada’s main stock index
advanced to its highest in a month on Tuesday, lifted by
strength in its energy and mining sectors as oil, copper and
other commodities prices climbed.

The benchmark index recorded its fourth straight daily gain
as it benefited from recent strength in commodity prices,
including a 6 percent jump in U.S. crude oil in the
previous session.

Apr 2, 2015

TSX rises as U.S. data, energy shares offer support

TORONTO, April 2 (Reuters) – Canada’s main stock index rose
on Thursday as shares of energy producers held on to gains
despite falling oil prices, while most other major sectors were
lifted by positive U.S. economic data.

Oil prices dropped as Iran and world powers reached a
preliminary pact on Tehran’s nuclear program. The agreement may
eventually lead to higher Iranian oil exports.

Apr 2, 2015

TSX climbs on U.S. economic data; oil shares gain

TORONTO, April 2 (Reuters) – Canada’s main stock index
advanced on Thursday as shares of oil producers shrugged off a
decline in crude prices, and positive U.S. economic data helped
drive gains in most other sectors.

Oil prices dropped as Iran’s negotiations with major global
powers on its nuclear program continued, adding to uncertainty
about whether it will be allowed to increase its oil exports,
which would add to global oversupply.

Apr 2, 2015

Canadian equity offerings surge in first quarter on energy deals

TORONTO, April 2 (Reuters) – Royal Bank of Canada
topped Canadian equity issuances in the first quarter, lifted by
a surge in financings for energy companies looking to beef up
their balance sheets in the face of sluggish oil prices, Thomson
Reuters figures showed on Thursday.

Bank of Nova Scotia and Deutsche Bank
came in second and third, respectively, while BMO Capital
Markets and CIBC World Markets rounded out the top five,
according to the data.

Apr 1, 2015

Oil and gold price rallies boost TSX resource stocks

TORONTO, April 1 (Reuters) – Canada’s main stock index
gained on Wednesday as rising prices for commodities such as oil
and bullion bolstered the energy and mining sectors, which
together make up almost a third of the index.

Oil prices jumped after three days of losses as U.S. crude
output fell for the first time in two months. Gold also
rallied after a downbeat U.S. jobs report suggested policymakers
there could delay a tightening of U.S. monetary policy.