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Scotiabank profit slightly beats estimates, loan growth offsets lower margins, higher provisions

Scotiabank reported adjusted earnings attributable to common shareholders of C$2.23 billion ($1.68 billion), or C$1.82 a share, compared with estimates of C$1.81. Provisions for credit losses during the quarter jumped 28% to C$753 million. Growing economic uncertainties that have raised the prospect of interest rate cuts at home, higher provisions for loan losses and sluggish deal-making have weighed on Canadian banks in recent quarters. …read more […]

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Capgemini will not be pressured into higher Altran bid, CEO says

Software company Capgemini will stick to its bid of 14 euros ($15.43) per share for smaller rival Altran, its chief executive told Reuters, as it tries to fend off pressure from activist hedge fund Elliott for a higher offer. Elliott, which made waves in France last year when it revealed a stake in drinks maker Pernod Ricard, has since built a holding of more than 10% in Altran, regulatory filings show. It has also said Capgemini’s 3.6 billion-euro bid from June this year undervalued Altran. …read more […]

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Market Morning: CBD Warning, Chemocentryx Win, Huge Tory Majority, Amazon Injuries

FDA Says CBD Can Hurt Your Liver Potentially speaking. Potentially, anything can hurt your liver, but that isn’t stopping the Food and Drug Administration from singling out cannabidiol (CBD), the nonpsychoactive cannabinoid generally recognized as safe by most people, but not officially so by the FDA. The compound is now sold in pharmacies including CVS […]The post Market Morning: CBD Warning, Chemocentryx Win, Huge Tory Majority, Amazon Injuries appeared first on Market Exclusive. …read more […]

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GLOBAL MARKETS-World stocks edge off highs to await U.S.-China progress

World stocks edged off their highest in almost two years on Tuesday, but kept record levels in sight, following fresh signs that the United States and China were working to end a trade war dragging on the global economy. China’s Vice Premier Liu He, U.S. Trade representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin held a phone call on issues related to a phase one trade agreement on Tuesday, China said. This, alongside a strong Hong Kong debut for Chinese e-commerce giant Alibaba in the world’s largest share sale this year, boosted markets in Asia . …read more […]