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December 7, 2018 2:31 PM Gains abroad extend the record earnings streak at Canadian banks

Canada’s eight big banks extended their record earnings streak this year, posting a 7.5 per cent jump in annual profit fuelled by operations outside their home turf. Net income for the companies totalled C$45.9 billion ($34.3 billion U.S.) in the fiscal year ended Oct. 31. Toronto-Dominion Bank and Bank of Montreal profited from their U.S. consumer-lending 9

December 5, 2018 4:54 PM Aphria shares slip as investment firm hits back at short-sellers’ allegations

Quintessential Capital Management and Hindenburg Research alleged Monday that Aphria’s recent acquisitions of assets in Colombia, Argentina and Jamaica from Scythian Biosciences are “largely worthless” and bought in ways that the short-sellers believe benefit a group of insiders. Scythian, now called Toronto-based SOL Global Investments Corp., says it is “satisfied 11

December 4, 2018 7:31 PM Dow slides 700 points as U.S. stocks veer sharply lower

The trade dispute has rattled markets in recent months as signs emerged that it has begun affecting corporate profits. That’s stoked traders’ fears that if it drags much longer it could further weigh on global economic growth. The jitters helped drive demand for government bonds Tuesday, pushing prices higher. The yield on the 10-year Treasury note fell to 2.91 per cent from 2.99 per cent late Monday 13

December 3, 2018 5:47 PM Crocs to buy back 50 per cent of Blackstone preferred stake as rebound builds

Crocs Inc. will buy back and convert some of the preferred shares held by Blackstone Group LP in the latest sign that a multiyear turnaround effort has put more spring in the step of the maker of colourful, rubbery shoes. The footwear maker will pay $183.7 million (U.S.) for half the preferred stock Blackstone acquired as part of a $200-million investment 12

November 29, 2018 7:01 PM TD, CIBC see profit bump helped by U.S. operations but analyst reaction mixed

“Coupled with the overall miss against expectations was a surprising step back in profitability in CIBC’s U.S. operations; its platform for future growth,” he said in a note to clients. Shares of CIBC fell as much as 4 per cent Thursday to $111.41 from its previous close of $116.19 on the Toronto Stock Exchange, but was trading near $112 by early afternoon 16

November 29, 2018 1:41 PM Toronto-Dominion’s U.S. lender outshines domestic banking gains

Toronto-Dominion had a 44 per cent jump in earnings from the U.S. retail segment in the fiscal fourth quarter, helped by improving net interest margins, record contributions from a stake in the TD Ameritrade discount brokerage and the U.S. tax overhaul. Profit from U.S. retail rose to $1.11 billion, outperforming growth in Canada and its wholesale banking 15

November 29, 2018 1:02 PM CIBC's U.S. foray cuts domestic reliance even as earnings miss

Chief Executive Officer Victor Dodig had big plans after closing the $5 billion takeover of PrivateBank last year, setting a goal of getting 17 per cent of earnings from U.S. businesses, including capital markets, by 2020. Canada’s fifth-largest lender by assets gets a greater share of earnings from domestic banking than any of its larger peers, which 12

November 27, 2018 9:17 PM Precision claiming $20-million break fee after Ensign set to take over Trinidad

Ensign says 56.38 per cent of Trinidad shares have been tendered by its Tuesday deadline. The 154.1 million shares are in addition to the 26.9 million it also owns, raising its stake in Trinidad to 66.18 per cent. Each Trinidad shareholder will receive by Thursday $1.68 per share for a total of about $470 million, with the offer price representing a 17.2 per cent premium 15

November 22, 2018 8:56 PM Charlie and the Chocolate Factory is extra sweet, rarely bitter

According to O’Brien, the touring version that’s now at the Princess of Wales Theatre with Mirvish Productions is even brighter, happier and more energetic than its predecessor, which closed on Broadway after less than a year. O’Brien’s production is certainly sweet, with a colour palette as intense as a sourball (set and costume design by Nicholas Skilbeck) 19

November 20, 2018 7:47 PM Bombardier has runway to recover from share price collapse, analysts say

Bombardier shares have fallen more than 60 per cent since July on concerns about its hefty debt and its ability to generate promised free cash flow. Even with Monday’s 24 per cent rebound to $2.07, Cameron Doerksen of National Bank Financial says the sell-off is unjustified, maintaining his target price at $5.50. Given market conditions, analysts expect 17