Industry

Briefly:

(August 9, 2006) RBC Financial Group announced today that its U.S. subsidiary, RBC Centura Banks, has signed a definitive merger agreement to acquire Atlanta, Georgia-based Flag Financial Corporation and Flag Bank. The deal, valued at approximately $456 million, is subject to closing conditions, and regulatory and shareholder approval. The transaction is expected to be completed […]

By Staff |August 9, 2006

3 min read

Short term shocks drive energy sector

It’s common sense that no rally continues forever, but it may be getting harder to persuade investors that this remains true of the energy sector. It seems every time the market gets a cooling signal, another flares up — whether it’s in the form of fresh Middle-East conflict or falling inventories. The latest blow to […]

By Steven Lamb |August 9, 2006

3 min read

Clients launch proposed class action against BMO

Investors have launched a proposed class-action lawsuit against BMO Nesbitt Burns, BMO Trust Company and the BMO Bank of Montreal, claiming the company intentionally failed to change operational practices in response to 2001 Income Tax Act changes so they could continue to earn profits from foreign exchange fees at the expense of class members. The […]

By Kate McCaffery |August 9, 2006

3 min read

Briefly:

(August 8, 2006) Hedge fund performance was pretty much flat in July, with the Barclay Hedge Fund Index slipping 0.07%. Most of the loss was attributed to getting overall market direction wrong. “Once again, we’re seeing equity-based directional strategies spilling most of the red ink,” said Sol Waksman, founder and president of The Barclay Group. […]

By Staff |August 8, 2006

3 min read