Finance Law

OTTAWA (Reuters) – The Bank of Canada should resume raising interest rates this autumn to help cool the country’s hot housing market and allow the bank to reach its inflation target, the Paris-based OECD said on Tuesday in a report more hawkish than most market players. “It is assumed here that the first policy rate [...]

Jonathan Stempel Reuters 6:27 p.m. CDT, May 21, 2012

Royal Bank of Canada, Bank of Montreal (BMO) and other Canadian lenders will post higher profit in the fiscal second quarter as a firming economy fueled loans to consumers and businesses. The country’s eight largest banks will boost earnings per share before one-time items by an average of 5 percent in the period ended April [...]

Bank of America is “very comfortable” with the composition of its corporate investment portfolio, which is invested mostly in government-guaranteed mortgage bonds and U.S. Treasury bonds, Chief Executive Officer Brian Moynihan said at an investor conference on Monday. Moynihan was asked about the bank’s investments following JPMorgan Chase’s [JPM  Loading...      ()   ]disclosure [...]

The 33 banks that signed up for the Facebook initial public offering may have thought they were heavily discounting their normal six or seven per cent underwriting fee in return for some good publicity on a sure-fire winner. It doesn’t look like that now. Facebook’s sputtering IPO is drawing scrutiny both to the role of [...]

By David Brett LONDON | Mon May 21, 2012 12:22pm BST LONDON (Reuters) – Banks and commodity stocks helped Britain’s leading share index to bounce on Monday, after sharp falls last week with sentiment tainted by lingering doubts over stability of the euro zone and G8 leaders doing little to calm investors’ long-term fears. The [...]

WASHINGTON (AP) — The House voted Wednesday to extend the life of the Export-Import Bank, culminating a struggle that has split Republicans between pro-bank business groups and anti-big government conservatives seeking to have it dismantled. In the end, most Republicans joined Democrats in backing the bank, a source of financing for American companies, ranging from [...]

SAN FRANCISCO–(BUSINESS WIRE)– Bank of America today released its inaugural Small Business Owner Report1, a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country. The survey, which includes an oversampling of small business owners across the San Francisco market, uncovered that 52 percent of San Francisco small business owners [...]

JPMorgan Chase Co. (JPM) (JPM)’s $2 billion trading loss has prompted the Federal Reserve Bank of New York to examine how banks in its district are managing cash after receiving a flood of deposits since the credit crisis, according to a person familiar with the matter. New York-based JPMorgan’s trading loss, announced last week, occurred [...]

Terry Keenan As spectacles go, there are few more universal and inspiring than the run of the Olympic Torch in the lead-up to the summer games. On Friday, as the torch headed from Olympia, Greece, to Britain, it was hard not to see irony in the fact that the torch wasn’t the only thing making [...]