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Search resuls for: "Small Financial"


3 mentions found


☆ Top Canada banks RBC, National Bank's profits dip as bad debt provisions mount
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +2 min
Profit from personal and commercial banking for RBC and National Bank in the quarter grew 5% and 13%, respectively. RBC earmarked C$381 million in provisions for credit losses (PCL), compared with a C$227 million release last year. National Bank reported C$87 million versus a C$41 million release a year ago. Shares of RBC, which agreed to buy HSBC's (HSBA.L) Canadian business on Tuesday, were down 1.4%, while National Bank fell nearly 4%. National Bank, on the other hand, posted an adjusted profit of C$2.08 per share, below analysts' expectation of C$2.24.
☆ FTX’s Collapse Upends Sam Bankman-Fried’s Washington Play
  + stars: | 2022-11-27 | by ( Paul Kiernan | ) www.wsj.com   time to read: 1 min
WASHINGTON— Sam Bankman-Fried ’s multimillion-dollar Washington charm offensive revolved around a small financial regulator and a group of senators with whom the purported crypto billionaire found common cause in a bid for light-touch regulation of digital assets. For FTX, the crypto exchange Mr. Bankman-Fried founded, the goal was to steer oversight of crypto into the hands of what was perceived to be a friendlier regulator than the Securities and Exchange Commission, which has been promising a more stringent approach.
☆ TSX hits 19-month low as global recession risk weighs
  + stars: | 2022-10-11 | by ( Fergal Smith | ) www.reuters.com   time to read: +2 min
Investors were already on edge ahead of a key U.S. inflation report this week that could cement additional interest rate hikes by the Federal Reserve. read more"I think we are seeing the rate hikes really in full effect now," said Allan Small, senior investment adviser at the Allan Small Financial Group with iA Private Wealth. "The fear is that because the rate hikes have a lagging effect on the economy, we will not feel the full effect of these rate hikes until perhaps 3-6 months down the road." The International Monetary Fund on Tuesday cut its global growth forecast for 2023, warning that conditions could worsen significantly next year. Heavily-weighted financials lost 2.3% and technology was down nearly 3%.
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