Banks

Canada Pension Plan said to be in talks about acquiring General Electric’s buyout-lending business

advertisement-72x8.png

Canada Pension Plan Investment Board is within talks to buy Whirlpool Co.\’s U.S. private-equity lending business because the company accelerates plans to shed most of its finance operations, people acquainted with the matter said. Canada Pension, the nation\’s largest pension-fund manager, is working with Credit Suisse Group AG to arrange financing for any deal that will value the unit\’s equity ...

Read More »

Why OPEC may have to cut production eventually

ali_al-naimi.jpg

The Organization of the Petroleum Exporting Countries?is not expected to cut production now, but it might have no choice later this year if oil begins to fall again, says Jasper Lawler, a market analyst at CMC Markets UK. \”While OPEC will probably stay the program in June, if oil prices are still low 6 months later at the next meeting, ...

Read More »

Gold could rally if market fears over Greece keep escalating

gold_coins.jpg

Gold prices haven’t budged much because of Grexit fears over the past few months, however the precious metal may still benefit from the ongoing crisis if it continues to escalate and eventually comes to a head, says Julian Jessop, economist at Capital Economics. “Initially sight the turmoil in Greece has not had much impact on the gold price, which might ...

Read More »

Newmont Mining Corp. upgraded at RBC

copper_and_gold_mine.jpg

Newmont Mining Corp. was upgraded to outperform from sector perform at RBC Capital Markets due to improvements in the operating momentum and the disappearance of an M&A-related overhang. The Colorado-based miner acquired the Cripple Creek & Victor gold mine from AngloGold Ashanti Ltd. for US$820 million in cash earlier this week. The deal is accretive for Newmont, nevertheless its share ...

Read More »

Bitcoin is the real winner in Greece crisis

bitcoin.jpg

Grexit fears might be taking a toll on stock and bond prices this month, but it has been a boon for virtual currency Bitcoin. What may be the worst that may happen if Greece actually defaults? Speculation indicates Greece will likely default and exit the eurozone, but this fact doesn’t seem to be worrying investors. Read on The virtual currency ...

Read More »

Goldman Sachs Group Inc tells summer interns not to pull all-nighters, but 7 a.m. to midnight is OK

goldmansachs.jpg

Goldman Sachs Group Inc has told its summer investment banking interns to not stay in the office overnight inside a bid to improve working conditions for its junior staff. The move, according to company sources and confirmed with a Goldman spokesman, illustrates how Wall Street banks are trying to find to curb excessive hours worked by young employees who see ...

Read More »

Leveraged loan ETFs in Canada boost defences in case of selloff

money21.jpg

Canadian exchange-traded funds that buy leveraged-loans are shoring up defences against an abrupt flight by investors. The Horizons Senior Loan ETF received approval from the Ontario Securities Commission to enhance borrowing limits to help meet potential redemptions in an asset class where it will take as long as 20 days to shut a trade. First Trust Advisors, which manages the ...

Read More »

Carl Icahn exits Netflix Inc stake after stock split announcement

0624icahn.jpg

Billionaire Carl Icahn exited his Netflix Inc. stake as the stock doubled this season to lead the Standard & Poor\’s 500 Index and also the video-streaming company announced a regular split. Apple Inc. now represents exactly the same opportunity Icahn saw in Netflix several years ago, the investor said in a tweet. Sold last of our $NFLX today. Believe $AAPL ...

Read More »

Chances of Bank of Canada interest rate cut sit at 35%, says RBC’s Eric Lascelles

loonie.jpg

Chances the Bank of Canada will cut interest rates in the next couple of months are about one in three as a weaker currency does not boost exports and companies continue to grapple with lower oil prices, according to Eric Lascelles. Loonie overvalued by 10%, dragging on Canadian growth: CIBC CIBC World Markets says the loonie continues to be overvalued ...

Read More »

Boom, bust, repeat: China’s US$8 trillion equity market is behaving like a penny stock

0629chinastocks.jpg

It looks like the cost chart of the over-the-counter penny stock: dizzying gains, abrupt U-turns, harrowing declines. If you believe Greece is bad, China could actually be a much bigger problem China\’s equity markets happen to be taking a real whacking for a while now, as a result. That\’s disquieting enough. Yet the actual concern is any knockdown effect within ...

Read More »