Industry News

Decorative pattern

Briefly:

(August 10, 2006) Berkshire-TWC Financial Group has announced the appointment of Robert Levis as chief executive officer, promoting him from his position as senior vice-president, investment banking and corporate development. “Bob is an impassioned leader, able to galvanize team members in the expansion and growth of businesses,” said chairman Michael Lee-Chin. “Bob and I will […]

By Staff |August 10, 2006

3 min read

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What Fed pauses could mean for investors

Central banks may be approaching a neutral interest rate and reaching the end of their tightening cycle after years of fairly predictable increases, leading observers to wonder whether there will be a renaissance of 1990s-like volatility. The place to look is emerging markets, says a recent note by TC Bank Financial Group economist Richard Kelly, […]

By Scot Blythe |August 10, 2006

4 min read

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(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

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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

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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

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(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

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Broker services under-priced

Industry watchers say that at many standard brokerages, clients are getting services at a discount, with many brokers charging even less, on average, than what it would cost to transact business at a discount brokerage. Those studying the issue say there are a number of factors contributing to the problem. For one, business is booming […]

By Kate McCaffery |August 8, 2006

5 min read

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(August 4, 2006) The odds of the U.S. Federal Reserve pausing its credit-tightening cycle on August 8 have been “markedly increased” as U.S. employment figures failed to excite, according to TD Economics. “The 3-month trend is only running at 112,000 [new jobs] a month – hardly inspiring stuff,” wrote Eric Lascelles, senior strategist, FX, and […]

By Staff |August 4, 2006

2 min read

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New rules means clarity for some funds

The impact of National Instrument 81-107 will reach far beyond the mutual fund industry, according to a leading lawyer in the investment industry. NI 81-107 will apply not only to open-end mutual funds, but also to closed-end structured funds, exchange-traded funds, labour-sponsored funds, commodity pools and even scholarship plans. NI 81-107 was originally designed to […]

By Steven Lamb |August 4, 2006

3 min read

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Fund sales recover in July

Mutual fund sales appear to have recovered in July, with net new sales estimated at between $600 million to $1.1 billion, according to preliminary data from IFIC. “The markets have rebounded slightly in the last month and that’s led to increased sales and assets,” said Joanne De Laurentiis, president and CEO of IFIC. Net assets […]

By Steven Lamb |August 3, 2006

3 min read

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