Month: August 2020

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All amounts are in Canadian dollars and are based on our unaudited Interim Condensed Consolidated Financial Statements for the quarter ended July 31, 2020 and related notes prepared in accordance with International Financial Reporting Standards (IFRS), unless otherwise noted. Our complete Third Quarter 2020 Report to Shareholders, including our unaudited interim financial statements for the period ended July 31, 2020, can also be found on the SEDAR website at www. …read more […]

TORONTO, Aug. 25, 2020 /CNW/ – Scotiabank today announced a dividend on the outstanding shares of the Bank, payable October 28, 2020 to shareholders of record at the close of business on October 6, 2020:Common Shares * Dividend No. …read more […]

TORONTO, Aug. 25, 2020 /CNW/ – Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that its Board of Directors declared a quarterly dividend of $1. …read more […]

Financial Results HighlightsThird Quarter 2020 Compared With Third Quarter 2019: * Net income of $1,232 million, compared with $1,557 million; adjusted net income1 of $1,259 million, compared with $1,582 million * Reported EPS2 of $1.81, compared with $2. …read more […]

(Bloomberg) — Oil traded near $42.50 a barrel as Laura was predicted to become a major hurricane, menacing crude production and refineries in the U.S. Gulf of Mexico close on the heels of an earlier storm.Futures in New York traded lower, while those in London edged higher. Tropical Storm Marco faded and safety warnings were dropped, but Laura is expected to make landfall on Thursday as a Category 3 hurricane with winds as strong as 115 miles per hour. Some 82% of oil output in the Gulf has been halted as operators braced for the weather systems to hit.Refinery closures …read more […]

Ant Group, Alibaba’s fintech arm and China’s dominant mobile payments firm, filed on Tuesday for a dual listing in Hong Kong and on Shanghai’s Nasdaq-style STAR Market which could raise as much as $30 billion and become the world’s largest IPO ever. Ant’s initial public offering would be the first simultaneous listing in Hong Kong and the year-old STAR Market, boosting Hong Kong’s status as an international IPO market and helping enhance STAR as a capital markets centre. …read more […]

(Bloomberg) — Chinese buyers have not only stopped snapping up iconic overseas assets, the coronavirus pandemic is ravaging the targets of deals that defined a headier era.Whereas some prolific acquirers such as HNA Group Co. and Anbang Insurance Group Co. began falling into disarray before the recent crisis, the impact on investments in sectors hit hardest by the outbreak means healthier owners are now feeling the pain.Conglomerate Fosun International Ltd. could soon see its 2015 investment in Cirque du Soleil Entertainment Group wiped out, while PizzaExpress, owned by private equity firm Hony Capital, said this month it’s likely to hand …read more […]

Generally, the industrial sector-which includes aerospace, construction, manufacturing and many other businesses, is quite vulnerable to an economic downturn. The COVID-19 pandemic has disrupted several businesses and led to huge unemployment. Its impact on industrial stocks has been drastic.Both 3M and Honeywell have been in the news for massive production of personal protective equipment, especially N95 masks. But these industrial giants are highly diversified companies and are involved in several other businesses, most of which are struggling due to the slowdown triggered by the pandemic.Using TipRanks’ Stock Comparison tool, we will compare these two industrial giants to see which stock …read more […]

Tesla Inc’s chief executive Elon Musk has suggested the U.S. electric carmaker may be able to mass produce longer-life batteries with 50% more energy density in three to four years. Researchers have said the energy density of Panasonic’s “2170” batteries used in Tesla’s Model 3 is around 260Wh/kg, meaning a 50% jump from the current energy density which is key to achieving a longer driving range. Tesla said its Battery Day will take place on the same day as its 2020 annual meeting of shareholders on Sept. 22. …read more […]

Palo Alto Networks reported stronger-than-expected 4Q results on Monday as the COVID-19 pandemic-led work-from-home trend boosted demand for network security products.Palo Alto’s (PANW) 4Q revenues grew 18% to $950.4 million year-on-year, surpassing Street estimates of $924 million. The network security solution provider’s adjusted EPS improved by a penny to $1.48 from $1.47 reported in the year-ago quarter, beating analysts’ expectations of $1.39. Its billings, which reflect future business contracts, surged 32% to $1.4 billion and exceeded the Street forecast of $1.2 billion.Palo Alto’s CEO Nikesh Arora said, “We had a strong finish to our fiscal year, driven by strong execution, …read more […]

Carmakers and tech firms warn prices of 5G devices and connected cars will rise if action isn’t taken. …read more […]

(Bloomberg) — There’s hardly any question that carries greater weight in economics right now, or divides the financial world more sharply, than whether inflation is on the way back.One camp is convinced that the no-expense-spared fight against Covid-19 has put developed economies on course for rising prices on a scale they haven’t seen in decades. The other one says the virus is exacerbating the conditions of the past dozen years or so — when deflation, rather than overheating, has been the big threat.The debate touches every area of policy, from trade rivalries to unemployment benefits, and everyone has an interest …read more […]

(Bloomberg Opinion) — Saudi Arabia Oil Co.’s senior management reshuffle is more than just a game of high-level musical chairs at any old energy company.The oil giant faces an uphill battle to meet promises made before its record-setting initial public offering last year — and before the coronavirus pandemic hit — to deliver a $75 billion dividend payment this year and, presumably, a similar sized payout in 2021. It needs to adapt to meet the challenge.Aramco, as the company is widely known, is creating a new corporate development organization that will focus on “portfolio optimization,” with a brief to “assess …read more […]

Spot gold was flat at $1,932.15 per ounce by 0512 GMT. U.S. gold futures were steady at $1,938.80. Powell will discuss the Fed’s monetary policy framework review on the opening day of the Kansas City Fed’s annual central banking conference on Thursday, in a virtual and public format because of the coronavirus pandemic. …read more […]