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☆ Burned remains of Maya royalty marked the rise of a new leader, study says
▼ + stars: | 2024-04-18 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +7 min

The bones offer a rare glimpse of intentional corpse destruction in Maya culture to commemorate dramatic political change. Typically, Maya societies kept royal remains in accessible spaces where visitors could perform offerings. “Halperin is one of our most gifted field workers,” said Houston, who studies ancient Maya culture but was not involved in the research. Around the start of the ninth century when the remains were burned, carved Maya records described the deeds of a new ruler called Papmalil. Ritual desecration of royal remains by fire wasn’t unknown in Maya culture.

Persons: adornments, Christina T, Halperin, ” Halperin, “, —, . Halperin, Dr, Stephen Houston, “ Halperin, ”, Houston, ” —, ’, there’s, ” Houston Organizations: CNN, University of Montréal, telltale, Brown University Locations: Guatemala, Providence , Rhode Island, Guatemala City

☆ Robert MacNeil, legendary PBS News anchor, dies at age 93
▼ + stars: | 2024-04-12 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

New York CNN —Longtime broadcast journalist Robert MacNeil, who covered some of the biggest headlines of the 20th century and co-anchored PBS nightly news for two decades, died on Friday, PBS announced. MacNeil “was an incredibly erudite reporter, anchor and writer who raised the bar for serious journalism in America,” Sharon Percy Rockefeller, president of NewsHour Productions, said Friday in a news release. Arriving at PBS in the early 1970’s, MacNeil began a decades-long partnership with fellow journalist Jim Lehrer, according to PBS The two led PBS coverage of the Senate’s Watergate Hearings in 1973. In 1975, the pair co-founded the MacNeil/Lehrer Report, a show that would later become PBS NewsHour. MacNeil sat at the helm alongside Lehrer before leaving in 1995, according to PBS.

Persons: Robert MacNeil, MacNeil “, ” Sharon Percy Rockefeller, Jim Lehrer, MacNeil, John F, Kennedy, Lehrer, WETA, ”, “ Organizations: New, New York CNN, Longtime, PBS, NewsHour, NBC, WETA, Cuban Missile, MacNeil, Television, Writers ’ Conference Locations: New York, America, Montreal, Canada, Nova Scotia, London, Washington, DC, Dallas, WETA, United States

☆ ‘It felt so wrong’: Chumbawamba wants New Zealand politician to stop playing ‘Tubthumping’ at rallies
▼ + stars: | 2024-04-03 | by ( Dhruv Tikekar | ) edition.cnn.com time to read: +8 min

But those headlines were soon eclipsed by Chumbawamba publicly condemning Peters’ use of its song. “Everything that Peters stands for is counter to Chumbawamba’s world view,” the band’s founding member and former vocalist, Dunstan Bruce, told CNN. Chumbawamba, which broke up in 2012, has asked its former record company, Sony Music Publishing, to issue a cease-and-desist letter to New Zealand First. In response to CNN’s request for comment, New Zealand First Party President Julian Paul said the party had nothing further to add. “As we rise, the dirt will start all over again,” he said during a party convention in July, according to a transcript published by New Zealand First.

Persons: Winston Peters strode, Peters, ” Peters, Chumbawamba, Dunstan Bruce, Winston Peters, Hagen Hopkins, ” Chumbawamba, “ Tubthumping, ”, Bruce, “, Peter Dungate, ” It’s, Eminem, Vivek Ramaswamy, Donald Trump, Rihanna, Pharrell Williams, Bruce Springsteen, Nigel Farage, Hutton Supancic, Julian Paul, Emmanuel Heisbourg, Heisbourg, “ tubthumping, You’re, — Peters, ‘ Organizations: CNN, New Zealand First, Labour, New, National, ACT, New Zealand, General Motors, Sony Music Publishing, APRA, NZ, New Zealand’s National Party, rapper’s, Republican, Independence Party, UKIP, Southwest, SXSW UKIP, University of Montreal Locations: Palmerston, British, Nazi Germany, New, New Zealand

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Hubble finds water vapor in small exoplanet’s atmosphere
▼ + stars: | 2024-01-26 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Astronomers using the Hubble Space Telescope have detected water molecules in the atmosphere of a small, blazing-hot exoplanet 97 light-years from Earth. The planet, named GJ 9827d, is about twice Earth’s diameter, and it’s the smallest exoplanet found to have water vapor in its atmosphere, according to a new study. Starlight filtering through the planet’s atmosphere helped astronomers measure the signature of water molecules. It’s possible that the planet is a mini-Neptune with a hydrogen-rich atmosphere that contains water vapor. Or astronomers suspect that GJ 9827d could be a warmer version of Jupiter’s icy moon Europa, which contains an ocean beneath a thick, icy crust.

Persons: ”, Laura Kreidberg, Max Planck, Björn Benneke, Hubble, Ian Crossfield, Pierre, Alexis Roy, we’re, ” Benneke, “, GJ, Benneke, Thomas Greene, James Webb, Webb, ” Kreidberg Organizations: CNN —, Hubble, Max, Max Planck Institute, Astronomy, University of Montreal’s Trottier Institute for Research, University of Kansas, University of Montreal’s Trottier Institute, GJ 9827d, NASA’s Ames Research, James Webb Space Telescope, ”, 9827d Locations: Heidelberg, Germany, Lawrence , Kansas, Silicon

☆ There's now a juiced-up way to get 4 times the return of the S&P 500 — but it comes with many risks
▼ + stars: | 2023-12-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. And should they, given the many risks that come with such a fast-paced strategy? Bank of Montreal launched the Max SPX 500 4x leveraged ETNs, which will be the highest leveraged exchange traded product in the U.S., according to CFRA. The notes are based on the S&P 500 Total Return Index and will trade under the ticker "XXXX" beginning on Tuesday. Investors have shown a preference for the higher leveraged funds, like the popular Direxion Daily Semiconductor Bull 3x Shares (SOXL) ETF .

Persons: Max, iShares —, Aniket Ullal Organizations: New York Stock Exchange, Bank of Montreal, Nvidia, SEC, Investors, Daily Semiconductor Locations: New York City, U.S

☆ Henry Kissinger, American diplomat and Nobel winner, dead at 100
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +10 min

Former U.S. Secretary of State Henry Kissinger speaks at the International Economic Forum of the Americas/Conference of Montreal in 2008. U.S. President Richard Nixon and National Security Adviser Henry Kissinger stand on Air Force One during their voyage to China February 20, 1972. U.S. President Gerald Ford meets with Secretary Kissinger at Camp David, U.S., July 5, 1975. In 1973, in addition to his role as national security adviser, Kissinger was named secretary of state - giving him unchallenged authority in foreign affairs. But Ford did replace him as national security adviser in an effort to hear more voices on foreign policy.

Persons: Henry Kissinger, Shaun Best, Kissinger, Richard Nixon, Xi Jinping, Nixon's, Gerald Ford, Duc Tho, Gerald R, Ford, Henry, Heinz Alfred Kissinger, Anglicizing, Lyndon Johnson's, Nixon, Nelson A . Rockefeller, Henry A, Roosevelt, Premier Zhou Enlai, Mao Zedong, China Winston Lord, Leonid Brezhnev, Brezhnev, Gromyko, Dobrynin, Salvador Allende, Jimmy Carter, Ronald Reagan, George W, Bush, Ann Fleischer, Nancy Maginnes, New York Governor Nelson Rockefeller, Abinaya, Sandra Maler Organizations: U.S, International Economic, Americas, Conference of, REUTERS, Kissinger Associates, New York City . U.S, National Security, Air Force, Richard Nixon Presidential, REUTERS Acquire, House, Republican, Paris Peace, Camp David, Ford Library, HARVARD, Nazi, Army, Harvard University, State Department, Office, White, Communist, Premier, Former U.S, Reuters, Ford, Soviet, CIA, Democrat, New York Governor, Thomson Locations: Conference of Montreal, Connecticut, New York City ., China, North Korea, Beijing, U.S, Israel, Paris, North Vietnam, America, North, Cambodia . U.S, Camp, Washington and New York, Voluble, Furth, Germany, United States, Europe, Vietnam, South Vietnam, Washington DC, Cambodia, Jerusalem, Damascus, Syria, Golan, Vladivostok, Soviet Union, Russian, Russia, Egypt, Sinai, India, Pakistan, Washington, New York, Bengaluru

TD said it would be challenging to meet its medium-term adjusted earnings growth target range of 7%-10% in the new fiscal year. It reported adjusted earnings of C$1.83 per share, 7 Canadian cents shy of estimates. RBC reported adjusted earnings of C$2.78 per share, comfortably beating expectations of C$2.62, according to LSEG data. CIBC also beat profit expectations as it set aside smaller-than-expected loan provisions and is slashing costs through a 5% reduction in its workforce, or about 2,400 jobs. The lender, Canada's fifth biggest, reported adjusted earnings of C$1.57 per share, compared with expectations of C$1.53.

Persons: Mark Blinch, Gabriel Dechaine, Kelvin Tran, Victor Dodig, Dave McKay, Niket, Balu, Arasu Kannagi Basil, Shinjini Ganguli, Kirsten Donovan, Mark Porter Organizations: Royal Bank of Canada, REUTERS, Canadian Imperial Bank of Commerce, RBC, National Bank, CIBC, TD Bank, Bank Nova Scotia, Bank of Montreal, Scotiabank, Tuesday, Thomson Locations: Toronto, dealmaking, PCLs, Canada, United States, U.S, Bengaluru

☆ Trudeau demands end to antisemitic acts after attack in Montreal
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Nov 27 (Reuters) - Canadian Prime Minister Justin Trudeau on Monday condemned an attack on a Jewish community center in Montreal and said antisemitic violence must stop immediately. A Molotov cocktail was thrown into the entrance of the Jewish Community Council of Montreal just after midnight on Sunday, according to the council. The attack adds to the growing cases of violence in Montreal since the start of the Gaza conflict between Israel and Hamas on Oct. 7. Earlier this month, two Jewish schools in Montreal reported that shots were fired at their entrances. "These continued acts of antisemitic violence are deplorable and unacceptable – and must stop immediately.

Persons: Justin Trudeau, Blair Gable, Molotov, Saul Emanuel, Montreal, " Trudeau, Ismail Shakil, Sandra Maler Organizations: Canada's, REUTERS, Rights OTTAWA, Canadian, Jewish Community Council of, CBC News, X, Police, Thomson Locations: Ottawa , Ontario, Canada, Montreal, Jewish Community Council of Montreal, Gaza, Israel, Toronto, Canada's, Ottawa

☆ S&P 500 to reach record 5,100 next year, fueled by bumper corporate profits, BMO says
▼ + stars: | 2023-11-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The stock market rally will diversify next year amid a broader, "normal for longer" trend, according to BMO Capital Markets. Chief investment strategist Brian Belski set his 2024 base case target of 5,100 for the S & P 500, which implies an almost 12% rally from Friday's close. In other words, normal and typical," Belski wrote in a Monday note. But that does not make it normal or typical," Belski added. One market trend that will notably improve next year is the percentage of stocks outperforming the broader index, Belski added.

Persons: Brian Belski, Belski, –, — CNBC's Michael Bloom Organizations: BMO Capital Markets, BMO, Bank of Montreal Locations: Friday's

While high interest rates have boosted the banks' lending margins, residential mortgages, auto loans and commercial real estate loans have slowed as consumers and businesses pulled back. With interest rates forecast to remain high, renewal of the mortgages will squeeze household budgets. Banks are also rethinking lending to industries sensitive to high interest rates, from condo development to office space. "We want to make sure we have some kind of confidence when a project is going to go ahead," said Victoria Girardo, Canadian Western Bank's (CWB.TO) VP in real estate lending. "That is creating liquidity issues across the real estate developer space.

Persons: Carlos Osorio, Ebrahim Poonawala, Mike Rizvanovic, Rizvanovic, Banks, Victoria Girardo, Nigel D'Souza, Nivedita Balu, Mark Porter Organizations: Bank of Montreal, REUTERS, Rights TORONTO, U.S, National Bank, Bank, Veritas Investment Research, Thomson Locations: Toronto , Ontario, Canada, Toronto

☆ 3 things to watch in the stock market as Street aims to extend winning streak
▼ + stars: | 2023-11-25 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

(Treasury yields tend to move inversely to stock prices; as yields fall investors seeking better returns move money back into the stock market). The chipmaker once again came into its quarterly print with super-high expectations on the Street, but once again exceeded them . For this reason, we put more emphasis on monthly economic releases, such as the aforementioned personal spending report. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Dow, Estee Lauder, Einstein, Jim Cramer's, Jim Cramer, Jim, Locker, Jeff Greenberg Organizations: Nasdaq, Federal Reserve, Treasury, Nvidia, Apple, TJX, Bank of Nova, Elbit Systems, Intuit, Hewlett Packard Enterprise, Hormel, Kroger, KR, Academy Sports, TD Bank, Royal Bank of Canada, Dell Technologies, Bank of Montreal, BMO, Jim Cramer's Charitable, CNBC, Universal, Getty Locations: Bank of Nova Scotia, AMBA

☆ Shots Fired at Jewish School in Canada Again, Amid Tensions Over Overseas Conflict
▼ + stars: | 2023-11-12 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

By Rich McKay(Reuters) - A Jewish school in Montreal was hit by gunfire early on Sunday, making it the third time in less than a week that a Jewish school in the Canadian city was hit amid heightened tensions over the conflict between Israel and Gaza, police said, according to local media. Bullet impact marks and bullet shells were found after residents heard gunfire early on Sunday, CBC News in Canada reported. At the two other schools in Montreal, both reported finding a bullet hole in their front doors Thursday morning, local media reported. It was unclear if the incidents at Jewish schools in the city's west end were related. The ensuing Israeli bombardment of the Hamas-run Gaza Strip has killed more than 10,000 people, Palestinian health authorities say.

Persons: Rich McKay, Mayer Feig, Andrea Ricci Organizations: Reuters, Sunday, CBC News, Concordia University, Hamas Locations: Montreal, Canadian, Israel, Gaza, Canada, Quebec, Toronto, Palestinian, Atlanta

☆ Shots fired at Jewish school in Canada again, amid tensions over overseas conflict
▼ + stars: | 2023-11-12 | by ( Rich Mckay | ) www.reuters.com time to read: +1 min

Nov 12 (Reuters) - A Jewish school in Montreal was hit by gunfire early on Sunday, making it the third time in less than a week that a Jewish school in the Canadian city was hit amid heightened tensions over the conflict between Israel and Gaza, police said, according to local media. Bullet impact marks and bullet shells were found after residents heard gunfire early on Sunday, CBC News in Canada reported. At the two other schools in Montreal, both reported finding a bullet hole in their front doors Thursday morning, local media reported. It was unclear if the incidents at Jewish schools in the city's west end were related. The ensuing Israeli bombardment of the Hamas-run Gaza Strip has killed more than 10,000 people, Palestinian health authorities say.

Persons: Mayer Feig, Rich McKay, Andrea Ricci Organizations: Sunday, CBC News, Concordia University, Hamas, Thomson Locations: Montreal, Canadian, Israel, Gaza, Canada, Quebec, Toronto, Palestinian, Atlanta

☆ New satellite will detect and share CO2 data from individual facilities
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

Companies GHGSat Inc FollowNov 11 (Reuters) - Canadian emissions monitoring company GHGSat on Saturday launched a satellite aimed at detecting carbon dioxide emissions from individual facilities like coal plants and steel mills from space for the first time. The satellite, named Vanguard, launched from Vandenberg Space Force Base in California, GHGSat said. Carbon dioxide accounts for nearly 80% of U.S. greenhouse gas emissions from human activities and tends to enter the atmosphere from large industrial sources like power plants. Satellites monitoring carbon dioxide in the atmosphere currently are not focused on facility-level emissions, GHGSat said. The data collected by Vanguard will help substantiate common practices of monitoring and measuring carbon dioxide emissions, according to Stephane Germain, CEO of Montreal-based GHGSat.

Persons: GHGSat, Stephane Germain, Germain, Nichola Groom, Rod Nickel Organizations: Saturday, Vanguard, Vandenberg Space Force, Thomson Locations: California, U.S, Montreal

The Bank of Nova Scotia (Scotiabank) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie Acquire Licensing RightsTORONTO, Nov 3 (Reuters) - The chief operating officer of Bank of Nova Scotia's (BNS.TO) Canadian banking unit, Kevin Teslyk, has left the company, according to an internal memo seen by Reuters, the latest in a series of management changes under CEO Scott Thomson. James Neate, president of corporate and investment banking and Shawn Rose, chief technology officer have also left Scotiabank, the memo said. Canadian banks, including Royal Bank of Canada (RY.TO), Bank of Montreal (BMO.TO), have announced job cuts due to higher costs forcing. Neate, who has held senior executive roles in retail banking, commercial banking and wealth management, among others, will leave the bank at the end of December, according to the memo.

Persons: Chris Wattie, Kevin Teslyk, Scott Thomson, James Neate, Shawn Rose, Aris Bogdaneris, Dan Rees, Thomson, Mike Rizvanovic, Rose, Nivedita Balu, Kirsten Donovan, Louise Heavens Organizations: of Nova, REUTERS, Rights TORONTO, Bank of Nova, Reuters, Scotiabank, ING Group, Aris, Scotia, Royal Bank of Canada, Bank of Montreal, Thomson Locations: of Nova Scotia, Ottawa , Ontario, Canada, California, Toronto

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. First Quantum on Tuesday reaffirmed its commitment to the rule of law with the objective of benefiting Panama. First Quantum and its local unit Minera Panama declined to comment further. A decision to cancel the Cobre Panama mine's contract could slow Panama's GDP growth from an anticipated 6% in 2023 to just 1% without the mine in operation on an annualized basis. The odds of Panama losing its investment-grade rating would rise significantly if the contract is revoked, J.P Morgan warned on Tuesday.

Persons: Laurentino, J.P Morgan, Adriana Linares, Jackie Przybylowski, Michael Camacho, Frank De Lima, Juan Diego Vasquez, Edison Broce, Divya Rajagopal, Valentine Hilaire, Elida Moreno, Steve Scherer, Denny Thomas, Rod Nickel Organizations: Minerals, REUTERS, Aris, Quantum Minerals, Panama, Canada's Global Affairs, Reuters, Bank of Montreal, Finance, Economy, Independent, Thomson Locations: Panama, Donoso, Vancouver, Canada, Toronto

☆ Your favorite sad songs could help you feel less pain, new study finds
▼ + stars: | 2023-10-25 | by ( Jocelyn Solis-Moreira | ) edition.cnn.com time to read: +6 min

Listening to favorite songs could reduce people’s perception of pain, according to a new study published Wednesday in the journal Frontiers in Pain Research. And the most effective pain relievers were found to be sad songs detailing bittersweet and emotional experiences. He was not involved in the latest study but has conducted his own research on the relationship between pain and music. With millions of songs available, one person’s favorite song is likely not the same as another. While he didn’t research chills in this study, Valevicius hypothesized that these sensations might be signs of sensory gating.

Persons: CNN —, Adele, ”, Patrick Stroman, “ Cotton, “, Darius Valevicius, shivers, Valevicius, Stroman, ” Jocelyn Solis, Moreira Organizations: CNN, Pain, Queen’s University, Sega, neurosciences, University of Montreal Locations: Kingston , Ontario, New York

☆ Bank of Montreal is exploring sale of RV loan portfolio - Bloomberg News
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

A Bank of Montreal (BMO) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie Acquire Licensing RightsOct 24 (Reuters) - Bank of Montreal (BMO.TO) is exploring the sale of a portfolio of recreational vehicle loans, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. The potential sale comes at a time when several banks in North America shed loan portfolios to bolster balance sheets in the face of a 'higher-for-longer' interest rate environment. "We can't comment on specifics of a transaction," a Bank of Montreal spokesperson told Reuters in an emailed statement. The sale of loan portfolios, particularly those which are rate-sensitive, allows lenders to manage risk and keeps credit loss provisions or capital set aside to cover potential defaults in check.

Persons: Chris Wattie, Manya Saini, Jaiveer Shekhawat, Shailesh Organizations: of Montreal, BMO, REUTERS, Bank of Montreal, Bloomberg, Reuters, Thomson Locations: Ottawa , Ontario, Canada, North America, Bengaluru, Balu, Toronto

[1/2] A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada, Dec. 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOct 18 (Reuters) - Bank of Nova Scotia (BNS.TO) on Wednesday announced plans to cut about 2,700 jobs globally - 3% of its workforce - and take a C$590 million ($430.94 million) charge in the fourth quarter, making it the latest Canadian bank to take cost-cutting steps in a challenging environment. Royal Bank of Canada (RY.TO) and Bank of Montreal (BMO.TO) similarly have cut hundreds of jobs in response to rising costs in a high interest rate environment. Scotiabank said the layoffs will result in a restructuring charge and severance provisions of about C$247 million. Analysts said the charge does not come as a surprise amid a review of is strategic direction.

Persons: Carlos Osorio, Scott Thomson, Darko Mihelic, Jaiveer Singh, Balu, Will Dunham, Shilpi Majumdar, Jonathan Oatis Organizations: The Bank of, Scotiabank, REUTERS, Bank of Nova, Wednesday, Royal Bank of Canada, Bank of Montreal, China's, China's Bank of Xi'an, Analysts, RBC Capital, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, China's Bank, Bengaluru, Toronto

☆ BMO promotes Alan Tannenbaum to head capital markets division
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

A Bank of Montreal (BMO) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. Tannenbaum joined BMO in 2010 and has held multiple leadership roles, most recently leading global investment and corporate banking, where he worked with corporate, government and financial sponsor clients worldwide. Before then, he headed the global corporate finance solutions group, where he was responsible for capital raising activities. CEO Darryl White said Tannenbaum is "well-positioned to capture new growth opportunities" for BMO Capital Markets. Brad Chapin will take over for Tannenbaum as global head, investment and corporate banking on an interim basis, BMO said.

Persons: Chris Wattie, Alan Tannenbaum, Dan Barclay, Tannenbaum, Darryl White, Barclay, White, Brad Chapin, Nivedita Balu, Jonathan Oatis Organizations: of Montreal, BMO, REUTERS, Companies Bank of Montreal, Bank of Montreal, BMO Capital Markets, Lehman Brothers, Thomson Locations: Ottawa , Ontario, Canada, TORONTO, London, New York, Toronto

☆ France blocks US takeover of Canada-owned French nuclear valve makers
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 6 (Reuters) - France blocked a deal that would have seen the takeover of two Canadian-owned French maker of valves used in nuclear reactors because it did not think commitments made by U.S. bidder Flowserve were sufficient, a finance ministry source said. Flowserve, which makes pumps and valves, said on Thursday it was dropping its $245 million takeover of Montreal-based Velan, whose French subsidiaries Segault and Velan SAS make valves used in nuclear plants, submarines and aircraft carriers. The French government has extensive powers to vet proposed takeovers of French companies that it considers to be strategically sensitive, though outright rejections are rare. Flowserve Chief Executive Scott Rowe said on Thursday that the firm had sought to address all of the French concerns. Some French senators had aired concern about the takeover, in particular that it could mean the U.S. government could order Flowserve to hand over information from its French subsidiaries.

Persons: Bruno Le Maire, Scott Rowe, government's, Rowe, Emmanuel Macron, Leigh Thomas, Alexander Smith Organizations: U.S, Flowserve, Velan SAS, Thomson Locations: France, Montreal

☆ Canada economy stalled in July, most likely grew by 0.1% in Aug
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Christinne Muschi Acquire Licensing RightsOTTAWA, Sept 29 (Reuters) - Canada's economy stalled in July as the manufacturing sector posted its biggest decline for more than two years, but it most likely grew by 0.1% in August, Statistics Canada said on Friday. Analysts polled by Reuters had forecast a 0.1% month-over-month rise in July. Overall, the service-producing sector edged up 0.1% in July while the goods-producing sector posted a 0.3% contraction. The manufacturing sector shrank by 1.5% over June, the biggest month-on-month drop since April 2021, largely due to firms drawing down their inventories. The bank held its key overnight interest rate at 5% on Sept 6, noting the economy had entered a period of weaker growth.

Persons: Christinne, David Ljunggren, Dale Smith Organizations: Port, REUTERS, Rights, Statistics, Reuters, Bank of, Mining, Bank of Canada's, Thomson Locations: Port of Montreal, Montreal, Quebec, Canada, Statistics Canada, Pacific, British Columbia

☆ I moved to Milan and found living abroad is emotionally exhausting
▼ + stars: | 2023-09-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Julia Wheeler moved from Montreal, Canada to Milan, Italy. But during the pandemic, I quit my job and moved to Milan to do a master's in luxury and fashion brand management. But the reality is that living abroad is emotionally exhausting, and the first months are lonely and difficult. It took Julia Wheeler almost seven months to feel at home in Milan. Living a double lifeI shared my honest thoughts about living abroad on TikTok and the video has now had over a million views.

Persons: Julia Wheeler, She's, Wheeler, I've, Milan's, it's Organizations: Service, Del Duomo Locations: Montreal, Canada, Milan, Italy, Wall, Silicon, Del, Comezora, North America, TikTok, Naples, Venice

REUTERS/Chris Wattie/File Photo Acquire Licensing RightsTORONTO, Sept 17 (Reuters) - Bank of Montreal (BMO) (BMO.TO) is winding down its indirect retail auto finance business and shifting focus to other areas in a move that will result in an unspecified number of job losses, Canada's third-largest bank said. The bank, which announced the move on Saturday, has conducted this business in Canada and the United States. Under the indirect retail auto finance business, the bank works with car dealerships to arrange financing for buyers, who make monthly payments to the lender. "By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest," BMO said in a statement to Reuters. The remaining loans in this portfolio are primarily auto loans, but also include other loans, including loans for boats, recreational vehicles and motorcycles, Edward Jones analyst James Shanahan said.

Persons: Chris Wattie, Paul Hunsley, Edward Jones, James Shanahan, Nivedita Balu, Denny Thomas, Jane Merriman, Susan Fenton, Will Dunham, Diane Craft Organizations: of Montreal, BMO, REUTERS, Rights, Bank of Montreal, Reuters, The, Bank, Thomson Locations: Ottawa , Ontario, Canada, United States, California, Toronto

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