Banks

Bitcoin is the real winner in Greece crisis

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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 ...

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

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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 ...

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Leveraged loan ETFs in Canada boost defences in case of selloff

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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 ...

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Carl Icahn exits Netflix Inc stake after stock split announcement

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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 ...

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

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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 ...

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

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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 ...

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Canada is already in a recession, says Bank of America, and the loonie is set to get hammered

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Bank of America Merrill Lynch is just about the first bank to for a Canadian recession this year. \’R\’ word returns to haunt Canada as economy does not shake off oil price plunge Data out this week showed the damage of oil’s collapse is deeper than many thought, raising fears that we\’re slipping into recession and speculation the Bank of ...

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Quebecor Inc.’s unused spectrum licences could fetch a lot of cash

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Quebecor Inc.’s unused spectrum licences in?Ontario, Alberta and B.C. could fetch as much as five times the purchase price in a sale to some deep-pocketed larger carrier, estimates one Bay Street analyst. Vince Valentini at TD Securities Inc. increased his book valuation from the company’s non-Quebec airwaves to $800 million from $297 million, and said the market value might be ...

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China is having its biggest stock meltdown since 1992, but Goldman Sachs still predicts a 27% rally

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China\’s biggest stock-market rout since 1992 has done nothing to erode the bullish outlook of Goldman Sachs Group Inc. Greece, China and oil troubles are adding up to some world of catastrophe for investors Joe Chidley: It appears as though things have taken a turn for that worse for investors as Greece’s financial crisis flares, China’s stock market bubble bursts ...

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Greece, China and oil troubles are adding up to a world of catastrophe for investors

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In ancient Greek tragedy, there was always a point where events took a turn for that worse. Things seemed to be going well, the hero was on his way up, and then, poof, it was gone. Mayhem and misfortune followed. Investors these days might be wondering if they haven\’t reached that inflection point, too. This is not only because of ...

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