Latest Financial services News

Royal Bank: Fiscal Q2 Earnings Snapshot

May. 30, 2024 06:19 AM EDT

TORONTO (AP) — TORONTO (AP) — Royal Bank Of Canada (RY) on Thursday reported fiscal second-quarter earnings of $2.91 billion. The bank, based in Toronto, said it had earnings of $2.02 per share. Earnings, adjusted for non-recurring costs, came to $2.15 per share. ...

Canadian Imperial Bank: Fiscal Q2 Earnings Snapshot

May. 30, 2024 05:55 AM EDT

TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal second-quarter net income of $1.28 billion. The Toronto-based bank said it had earnings of $1.32 per share. Earnings, adjusted for non-recurring gains, were $1.29 per share. ...

Stock market today: Wall Street wilts to trim its May gains as Dow drops 400 points

May. 29, 2024 17:01 PM EDT

NEW YORK (AP) — U.S. stocks sank under the weight of higher yields in the bond market on Wednesday. The S&P 500 dipped 39.09 points, or 0.7%, to 5,266.95 and fell further from its record set last week. It trimmed its gain for May, which had been on track to be its best month...

Wisconsin launches $100 million fund to help start-up companies, entrepreneurs

May. 29, 2024 13:18 PM EDT

MADISON, Wis. (AP) — Gov. Tony Evers and Wisconsin's economic development agency on Wednesday announced the launch of a new public-private $100 million fund to help start-up companies and entrepreneurs get started, the largest of its kind in state history. The Wisconsin Investment...

Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president

May. 29, 2024 11:56 AM EDT

WASHINGTON (AP) — The Cleveland branch of the Federal Reserve said Wednesday that Beth Hammack, a former executive at investment bank Goldman Sachs, would be its next president effective Aug. 21. Hammack, 52, worked at Goldman Sachs from 1993 until stepping down earlier this year....

The Fed indicated rates will remain higher for longer. What does that mean for you?

May. 29, 2024 11:38 AM EDT

NEW YORK (AP) — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn’t plan to cut interest rates until it has...

Bank of Montreal: Fiscal Q2 Earnings Snapshot

May. 29, 2024 06:37 AM EDT

TORONTO (AP) — TORONTO (AP) — Bank Of Montreal (BMO) on Wednesday reported fiscal second-quarter net income of $1.37 billion. The Toronto-based bank said it had earnings of $1.74 per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.91 per...

Owner of UK's Royal Mail says it has accepted a takeover offer from a Czech billionaire

May. 29, 2024 04:11 AM EDT

LONDON (AP) — The owner of Britain’s Royal Mail said Wednesday it has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel Křetínský. Under the deal, Křetínský’s EP Group would buy International Distribution Services, which owns Royal...

Bank of Nova Scotia: Fiscal Q2 Earnings Snapshot

May. 28, 2024 06:23 AM EDT

TORONTO (AP) — TORONTO (AP) — Bank of Nova Scotia (BNS) on Tuesday reported fiscal second-quarter net income of $1.52 billion. The bank, based in Toronto, said it had earnings of $1.16 per share. The results exceeded Wall Street expectations. The average estimate...

What comes next for Ohio's teacher pension fund? Prospects of a 'hostile takeover' are being probed

May. 24, 2024 13:39 PM EDT

COLUMBUS, Ohio (AP) — A battle is under way for the future of Ohio’s $94 billion teacher pension fund, as would-be reformers’ attempts to deliver long-promised benefits to retirees with the help of an aggressive investment firm touting an untested AI-driven trading strategy face intense...