#RBC News

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S&P 500 ends slightly lower after jobs report

reuters.com Summary - Companies - Job growth beats expectations - Unemployment rate steady at 3.7% - Ford falls on lower November vehicle sales - Dow up 0.1%, S&P 500 down 0.12%, Nasdaq…

National Bank scraps mortgage portability

theglobeandmail.com National Bank of Canada no longer allows customers to transfer their existing mortgages after purchasing new properties, meaning clients hoping to move to new homes can’t…

Stock market today: Dow up as dip buyers shrug off fed fears amid strong jobs data By Investing.com

investing.com By Yasin Ebrahim Investing.com -- The Dow ended higher Friday, cutting losses on dip-buying momentum in the close after shrugging off a red-hot jobs report that could…

'No sacred cows' as pipeline company TC Energy prepares for C$5 bln asset sales

reuters.com WINNIPEG, Manitoba, Dec 2 (Reuters) - As TC Energy Corp (TRP.TO) prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the North…

Stocks making the biggest moves premarket: Marvell Technology, Horizon Therapeutics, DoorDash and more

cnbc.com Check out the companies making headlines before the bell: Marvell Technology (MRVL) – The chip maker's stock slid 4.9% in the premarket after quarterly sales and profit fell…

DoorDash confirms job cuts, shares fall on RBC downgrade By Investing.com

investing.com By Senad Karaahmetovic Shares of DoorDash Inc (NYSE:DASH) are down 5.5% in pre-market Friday after RBC analysts cut the rating to Sector Perform from Outperform. The…

‘No sacred cows’ as pipeline company TC Energy prepares for $5-billion asset sales

theglobeandmail.com As TC Energy Corp TRP-T prepares to unload C$5-billion ($3.7-billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of…

RBC downgrades DoorDash and cuts price target, citing slowing order growth 'too important to ignore'

cnbc.com There are a slew of factors weighing on DoorDash that have prompted RBC Capital Markets to downgrade the stock after a rough year. The firm slashed its rating to sector…

'No sacred cows' as pipeline company TC Energy prepares for C$5 billion asset sales By Reuters

investing.com By Rod Nickel WINNIPEG, Manitoba (Reuters) - As TC Energy (NYSE:TRP) Corp prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the…

HSBC has been undercutting the big banks on mortgages since 2016. An RBC takeover would hurt Canadian consumers

theglobeandmail.com Never in my 15 years of watching interest rates have I seen a lender spur mortgage competition like HSBC’s Canadian unit. But with Royal Bank of Canada’s planned acquisition…

Marc Benioff's 2023 to-do list after his co-CEO's shocking departure

businessinsider.com Marc Benioff, Salesforce CEO & cofounder Salesforce Salesforce is seeing it's co-CEO Bret Taylor depart and facing slowing revenue growth. The combo has some investors…

Canada’s Big Six banks reported fourth-quarter earnings this week. Here’s what you need to know

theglobeandmail.com Canada’s biggest banks reported their fourth-quarter earnings this week, covering the three months ending Oct. 31, as analysts gauge the strength of the banking sector…

RBC buying HSBC Canada is a loss for the banking public

theglobeandmail.com There’s an HSBC Canada branch across the street from the building where The Globe and Mail’s Ottawa bureau is located. Working in the bureau, I used to stop into the branch…

Banks report growing amortizations on mortgages as borrowers struggle with higher rates

theglobeandmail.com Major Canadian banks are increasingly seeing the amortization periods for their variable-rate mortgage holders extend beyond 30 years, as soaring interest rates squeeze…

A bad combination: Stocks are rising, but earnings estimates are falling fast

cnbc.com The S & P 500 broke above its 200-day moving average Wednesday for the first time since April and, perhaps more importantly, is on the verge of breaking a downtrend that's…

Reuters poll: BoC to keep up pace with 50 basis point December rate hike -economists By Reuters

investing.com By Indradip Ghosh BENGALURU (Reuters) - The Bank of Canada will hike its key interest rate by another 50 basis points to 4.25% on Dec. 7, according to a slim majority of…

Reuters poll: BoC to keep up pace with 50 basis point December rate hike -economists

reuters.com BENGALURU, Dec 1 (Reuters) - The Bank of Canada will hike its key interest rate by another 50 basis points to 4.25% on Dec. 7, according to a slim majority of economists in…

Jacynthe Cote to be appointed as chair of RBC’s board of directors next year

theglobeandmail.com Royal Bank of Canada RY-T says Jacynthe Cote will be appointed as chair of the bank’s board of directors next year. The bank says Cote will take over the role effective upon…

HSBC CEO ratchets ups cost-cutting target for next year By Reuters

investing.com By Lawrence White and Iain Withers LONDON (Reuters) - HSBC has identified $1.7 billion of extra costs that can be stripped out next year, Chief Executive Noel Quinn said on…

HSBC CEO ratchets ups cost-cutting target for next year

reuters.com LONDON, Dec 1 (Reuters) - HSBC (HSBA.L) has identified $1.7 billion of extra costs that can be stripped out next year, Chief Executive Noel Quinn said on Friday, as the bank…

RBC faces challenge retaining HSBC Canada business clients before takeover deal closes

theglobeandmail.com Rival banks are targeting HSBC Bank Canada’s talent and corporate clients as the country’s seventh-largest lender begins an anticipated year-long wait for approval of a…

RBC-HSBC banking merger is a slide to monopoly

theglobeandmail.com Keldon Bester is a co-founder of the Canadian Anti-Monopoly Project and a fellow at the Centre for International Governance Innovation. Where is Paul Martin when you need…

BHP's Henry sees fundamentals in place for China's economic growth By Reuters

investing.com (Reuters) - BHP Group (NYSE:BHP)'s Chief Executive Mike Henry said that "all fundamentals are in place" in China for continued economic growth over the next 20 years. China,…

CNN informs employees that layoffs are underway

investing.com (Reuters) - Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are underway, according to a CNN…

BlackRock's Fink says there may have been misbehaviors at FTX By Reuters

investing.com By Carolina Mandl NEW YORK (Reuters) - BlackRock (NYSE:BLK)'s Chief Executive Larry Fink said on Wednesday that it seems there were some misbehaviors at crypto firm FTX, but…

Royal Bank of Canada posts dip in Q4 income amid macroeconomic uncertainty By Investing.com

investing.com By Scott Kanowsky Investing.com -- Royal Bank of Canada (NYSE:RY) has reported a marginal decline in fourth-quarter earnings, as weakness at its capital markets division was…

RBC's Canadian Business Drives Earnings Ahead of HSBC Deal

bloomberg.com RBC's Canadian Business Drives Earnings Ahead of HSBC Deal Bloomberg

Top Canada banks post fall in profits as deals drought offsets rate boost

reuters.com (Reuters) -Royal Bank of Canada (RBC) and National Bank of Canada, two of the biggest banks in the country, posted a drop in profits as their market-focused businesses took…

Top Canada banks post fall in profits as deals drought offsets rate boost By Reuters

investing.com Breaking News (Reuters) -Royal Bank of Canada (RBC) and National Bank of Canada (OTC:NTIOF), two of the biggest banks in the country, posted a drop in profits as their…

RBC hikes dividend as fourth-quarter profit holds steady on interest-rate boost

theglobeandmail.com Royal Bank of Canada RY-T reported fiscal fourth-quarter profit that was roughly unchanged from a year earlier and raised its dividend as a tailwind from rising interest…

Royal Bank of Canada deal for HSBC Canada faces high regulatory, political hurdles

theglobeandmail.com Royal Bank of Canada RY-T has won the bidding war for HSBC Bank Canada, but the battle for regulatory approval is just beginning. The $13.5-billion cash deal must survive a…

Oil markets are headed for an 'incredible' week, with a significant chance of another production cut by OPEC just ahead of fresh EU sanctions

businessinsider.com There's a big chance OPEC+ could slash production quotas again, spelling trouble for energy markets ahead of EU sanctions, RBC's Helima Croft said. - "I still think it's up…

HSBC agrees to sell Canadian unit to RBC for $10bn

ft.com HSBC agrees to sell Canadian unit to RBC for $10bn Financial Times RBC buying Canadian division of HSBC for $13.5B CBC News Now the dots are connected on the big Canadian…

HSBC is Bidding Farewell to its Canadian Customers

fool.com For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every…

How RBC pulled off its highly-coveted $13.5-billion deal for HSBC Canada

theglobeandmail.com He’ll never want to admit it, but Royal Bank of Canada RY-T chief executive Dave McKay can thank Prime Minister Justin Trudeau, at least in part, for landing Canada’s most…

Investors Liked These 2 Stock Buyouts Tuesday

fool.com Investors settled in for a largely quiet trading session on Tuesday. With a speech expected from Federal Reserve chair Jerome Powell on Wednesday, most market participants…

RBC Bets on Immigration in $10.1 Billion HSBC Canada Deal

wsj.com Royal Bank of Canada said it would pay US$10.1 billion for HSBC Holdings PLC’s Canadian operations, a move meant to position Canada’s biggest bank to expand during an…

RBC/HSBC Canada: costly $10bn deal will attract regulatory scrutiny

ft.com There is plenty to set pulses racing in RBC’s ‘once in a generation opportunity’

RBC Adds to Canada Lead With 'Once-in-a-Generation' HSBC Deal

bloomberg.com RBC Adds to Canada Lead With 'Once-in-a-Generation' HSBC Deal Bloomberg

Analysis-RBC tightens grip at home with $10 billion HSBC Canada bid, regulatory risks loom By Reuters

investing.com By Divya Rajagopal and Saeed Azhar TORONTO/NEW YORK (Reuters) - Royal Bank of Canada's swift move to buy HSBC's Canada unit for C$13.5 billion ($10 billion) strengthens its…

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

reuters.com Summary - Companies - Deal comes amid pressure from Chinese shareholder - Analysts hail 'sensible' transaction - Bank could return deal proceeds to shareholders…

Analysis: RBC tightens grip at home with $10 bln HSBC Canada bid, regulatory risks loom

reuters.com TORONTO/NEW YORK, Nov 29 (Reuters) - Royal Bank of Canada's (RY.TO) swift move to buy HSBC's (HSBA.L) Canada unit for C$13.5 billion ($10 billion) strengthens its pole…

Canadian regulators to review sale of HSBC's Canada business to RBC By Reuters

investing.com By Divya Rajagopal and Kanishka Singh TORONTO (Reuters) -Canadian regulators will review the sale of HSBC's business in Canada to Royal Bank of Canada for C$13.5 billion…

Stock Market Today: Dow Slightly Gains, Oil Rises as Concerns Over Chinese Protests Fade

wsj.com Canadian analysts said RBC is paying more than expected for HSBC Canada. The roughly $10 billion price was jarring, said Meny Grauman, analyst for Scotiabank Global Equity…

HSBC quits Canada, selling its business to RBC for £8.4bn

theguardian.com HSBC has struck a deal to sell its Canadian business to Royal Bank of Canada for £8.4bn as it continues to shrink its global footprint and focus on the Chinese market. HSBC,…

HSBC sells Canada unit to RBC in megabank deal

marketwatch.com Royal Bank of Canada unleashed a megadeal on Tuesday to pay C$13.5 billion ($10.1 billion) for the 130-branch Canadian unit of HSBC as it bulks up against its five Canadian…

RBC buying Canadian division of HSBC for $13B

cbc.ca RBC buying Canadian division of HSBC for $13B HSBC has 130 branches and 4,200 full-time equivalent employees in Canada Royal Bank of Canada has signed a deal to acquire HSBC…

In Wake Of LIV Departures, RBC Reloads With Trio Of The PGA Tour’s Brightest Lights

forbes.com The list of corporations that terminated sponsorship relationships with players who left the PGA Tour for the Saudi-backed LIV Golf circuit is a long one that includes…

Royal Bank to buy HSBC Canada for $13.5-billion in biggest domestic banking deal on record

theglobeandmail.com Royal Bank of Canada RY-T is buying HSBC Bank Canada for $13.5-billion in cash in the largest deal ever reached between two domestic banks in the country. The transaction,…

HSBC agrees to sell its business in Canada to RBC for $13.5-billion

theglobeandmail.com British bank HSBC said on Tuesday it had agreed to sell its business in Canada to Royal Bank of Canada RY-T for $13.5-billion dollars in cash. The transaction is expected to…

Krispy Kreme has exited Russia over the war in Ukraine. 'Krunchy Dream' is taking its place

businessinsider.com A Krunchy Dream cafe in Moscow. Evgenia Novozhenina/Reuters A chain of new donut shops called Krunchy Dream has sprung up in Russia, where Krispy Kreme once stood. They are…

Stock Market Investing Action Plan: What Part Of November Don't You Understand?

investors.com As November ticks down to its final few sessions, the market sits on a merry little rebound. What is in store for December's stock market may be partly revealed this week,…

Why Algonquin Power & Utilities Stock Plunged Below $8 This Week

fool.com What happened Shares of Algonquin Power & Utilities (AQN 0.13%) crashed this week and were down 18% through noon Friday, according to data provided by S&P Global Market…

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