DIRS.INFO The most relevant business & tech news

The U.S. National Hurricane Center discontinued a tropical storm warning for the coast of Maine, while Environment Canada ended its tropical storm warning in New Brunswick. Political Cartoons View All 1163 ImagesA tropical storm warning remained in effect for parts of New Brunswick, Nova Scotia, Prince Edward Island and the Magdalen Islands. Lee flooded coastal roads in Nova Scotia and took ferries out of service while fanning anxiety in a region still reeling from wildfires and severe flooding this summer. In eastern Maine, winds died down enough by late afternoon Saturday for utility workers to begin using bucket trucks to make repairs. Central Maine Power and Versant Power had hundreds of workers, including out-of-state crews, assisting the effort.

Persons: Lee, Prince Edward Island, Pam Lovelace, “, Brian Lunt, Lunt, Power, ”, Sarah Thunberg, Billy Bob Faulkingham, Danny Mitchell, ” Mitchell, Betsy Follansbee, Fred, jogged, “ We’re, ” Follansbee, Maine’s, Ren Renton, Sandy, Hurricane Fiona, Jill Maepea, ___ Sharp, Robert Bumsted, Patrick Whittle, Michael Casey, Mark Thiessen, Rob Gillies, Kathy McCormack Organizations: BAR, Maritime, U.S, National Hurricane Center, Environment Canada, Canadian, Magdalen, Authorities, Halifax Stanfield International, New Brunswick, Police, Central Maine Power, National Weather Service, Republican, Maine Legislature, Winter Harbor Police, Associated Press Locations: Maine, New England, Maritime Canada, New Brunswick, Halifax , Nova Scotia, Eastport , Maine, Maine , New Brunswick, Nova Scotia, U.S, Bar Harbor , Maine, Acadia, Halifax, New, Searsport , Maine, Massachusetts, Portland , Maine, Bar Harbor, Higgins, Scarborough , Maine, Maine’s Bailey, of Maine, New York, New Jersey, Hurricane, Canada, Canadian, England, Cape Elizabeth , Maine, Boston, Rio, Las Vegas, Anchorage , Alaska, Toronto, Concord , New Hampshire

☆ Storm Lee makes landfall in Canada, downing trees and knocking out power
▼ + stars: | 2023-09-16 | by ( John Morris | ) www.reuters.com time to read: +3 min

[1/15] A tree on the ground is pictured after taking down the power lines and shutting off access to this road in Liverpool, Nova Scotia, Canada, September 16, 2023. The still-powerful weather system packed maximum sustained winds of 65 mph (100 km/h) with higher gusts, forecasters said. In the Canadian province of Nova Scotia, around 120,000 people were without power on Saturday as winds knocked down trees and felled power lines. "The intensity of the storm is strong," said Paul Mason, the executive director of the Nova Scotia Emergency Management Office. It marks the second year in a row that such a powerful storm has reached Canada after Hurricane Fiona ripped into eastern Canada a year ago.

Persons: John Morris, Lee, Crews, Matt Drover, PowerOutages.us, Paul Mason, Joe Biden's, Fiona, David Ljunggren, Idrees Ali, Maria Caspani, Daniel Trotta, Brendan O'Brien, Kim Coghill, Mike Harrison, Diane Craft, Daniel Wallis, David Gregorio Our Organizations: REUTERS, U.S, National Hurricane Center, Nova, Nova Scotia Emergency Management Office, NHC, Canadian Hurricane Centre, Thomson Locations: Liverpool , Nova Scotia, Canada, Nova Scotia, Canada's Nova Scotia, Atlantic, U.S ., Maine, Halifax, Eastport , Maine, Atlantic Canada, Canadian, of Nova Scotia, New Brunswick, Massachusetts, Bermuda, Ottawa, Washington, New York, Carlsbad , California, Chicago

☆ Lee weakens to post-tropical cyclone, knocks out power as it nears Atlantic coast
▼ + stars: | 2023-09-16 | by ( John Morris | ) www.reuters.com time to read: +3 min

[1/3] A man walks near a large lawn chair that was tipped over, after Hurricane Lee was downgraded to a post-tropical storm and started to impact Shelburne, Nova Scotia, Canada, September 16, 2023. REUTERS/John Morris Acquire Licensing RightsSHELBURNE, NOVA SCOTIA Sept 16 (Reuters) - The Lee storm system weakened into a post-tropical cyclone as it closed in on New England and Atlantic Canada on Saturday, producing hurricane-force winds that knocked out power to more than 100,000 people. Strong winds, coastal flooding and heavy rains were already occurring in parts of New England and Atlantic Canada, it added. In the Canadian province of Nova Scotia, more than 100,000 people were without power early on Saturday after high winds brought down trees. Lee has been churning as a large hurricane over the Atlantic for more than a week, briefly threatening Bermuda but mostly harmless for anyone on land.

Persons: Hurricane Lee, John Morris, Lee, Crews, Matt Drover, Joe Biden, Karine Jean, Pierre, Fiona, David Ljunggren, Idrees Ali, Daniel Trotta, Brendan O'Brien, Kim Coghill, Mike Harrison, Diane Craft Organizations: REUTERS, NOVA, Atlantic Canada, The U.S, National Hurricane Center, Nova, Canadian Hurricane Center, U.S, Thomson Locations: Shelburne, Nova Scotia, Canada, New England, Atlantic, The, Halifax Nova Scotia, Atlantic Canada, Canadian, of Nova Scotia, New Brunswick, Halifax, Fundy, Maine, Massachusetts, Bermuda, Ottawa, Washington, Carlsbad , California, Chicago

BOSTON (AP) — When it comes to hurricanes, New England can't compete with Florida or the Caribbean. Lee remained a Category 1 hurricane late Friday night with sustained winds of 80 mph (128 kph). One recent study found climate change could result in hurricanes expanding their reach more often into mid-latitude regions, which include New York, Boston and even Beijing. While hurricanes and tropical storms are uncommon in New England, the region has been seen its share of violent weather events. The Great New England Hurricane of 1938 brought gusts as high as 186 mph (300 kph) and sustained winds of 121 mph (195 kph) at Massachusetts’ Blue Hill Observatory.

Persons: Lee, ”, Joshua Studholme, they’re, Andra Garner, Garner, Kerry Emanuel, Emanuel, “, ” Garner, Hurricanes Carol, Edna, Hurricane Bob, Superstorm Sandy, Storm Irene, Michael Casey Organizations: BOSTON, Yale University, U.S ., Rowan University, New, Massachusetts Institute of Technology, Hurricanes, Hurricane, AP Locations: New England, Florida, of Maine, England, Canadian, of Nova Scotia, Massachusetts, Maine, New York, Boston, Beijing, Boston , New York, Norfolk , Virginia, New Englanders, U.S, U.S . East Coast, New Jersey, New York City, Gulf, Atlantic City , New Jersey, Vermont

BAR HARBOR, Maine (AP) — Millions of people were under storm watches and warnings Saturday as Hurricane Lee churned toward shore, bearing down on New England and eastern Canada with heavy winds, high seas and rain. Train, who is also a firefighter, was going to wait out the storm on the island in Casco Bay. The Great New England Hurricane of 1938 brought gusts as high as 186 mph (300 kph) and sustained winds of 121 mph (195 kph) at Massachusetts’ Blue Hill Observatory. The region learned the hard way with Hurricane Irene in 2011 that damage isn’t always confined to the coast. Downgraded to a tropical storm, Irene still caused more than $800 million in damage in Vermont.

Persons: Lee, Louise Fode, New Englanders, There’s, Bruce Young, it’s, Steve Train, Ian Hubbard, Lee won’t, Hurricane Fiona, Kyle Leavitt, Hurricane Irene, Irene, ___ Sharp, Whittle, Rob Gillies Organizations: BAR, National Hurricane Center, U.S ., National Weather Service, Canadian Hurricane Centre, New, New Brunswick Emergency Management Organization, Portland . Associated Press Locations: Maine, New England, Canada, Portland , Maine, Bar Harbor, Tennessee, Lee, England, Canadian, of Nova Scotia, New Brunswick, Massachusetts, U.S, U.S . Virgin Islands, Bahamas, Bermuda, New, Long, Casco Bay, Hurricane, Vermont, Portland, Toronto

☆ Weakening storm Lee bears down on New England and Canada with still-dangerous winds, heavy rains
▼ + stars: | 2023-09-16 | by ( ) www.cnbc.com time to read: +2 min

Storm Lee toppled trees and cut power to tens of thousands Saturday as it began lashing New England and eastern Canada, threatening hurricane-force winds, dangerous surf and torrential rains as its center spun closer. Severe conditions were predicted across parts of Massachusetts and Maine, and hurricane conditions could hit the Canadian provinces of New Brunswick and Nova Scotia. In Maine, the nation's most heavily forested state, the ground was saturated and trees were already weakened by heavy summer rains. A tropical storm warning stretched from the New Hampshire-Maine border through Nova Scotia and Prince Edward Island to northern New Brunswick. Utilities reported nearly 200,000 customers without power from Maine to New Brunswick and Nova Scotia.

Persons: Storm Lee, Todd Foisy, Foisy, Joe Biden, Prince Edward Island Organizations: U.S ., Atlantic Canada, National Weather Service, U.S, National Hurricane Center, Utilities, Halifax Stanfield International Locations: England, Canada, Massachusetts, Maine, New Brunswick, Nova Scotia, U.S, Eastport , Maine, Halifax, Nova, Scotia, New Hampshire, Prince, Nova Scotia's

☆ Ukraine alleges that Russian forces accidentally bombed their own occupied territory when an air strike went wrong and hit an apartment complex
▼ + stars: | 2023-09-15 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +2 min

Russian forces wound up bombing their own occupied territory in Ukraine in a botched attack Friday, Ukrainian officials alleged. The Russians reportedly meant to drop the explosives at the Ukrainian-held right bank of the Dnipro River, a military spokesperson said. Russian state media said 15 people were hurt — and blamed the strike on Ukrainian forces. But Russian state-run news outlet RIA Novosti blamed Ukraine military for the explosion, saying it was Kyiv's forces that struck the residential area in Nova Kakhovka, leaving 15 people injured. Ukrainian President Volodymyr Zelenskyy recently admitted Kyiv started the counteroffensive too late, giving Moscow ample time to plant countless land mines on Ukrainian soil.

Persons: —, Natalia Humeniuk, Humeniuk, Oleksandr Prokudin, it's, Volodymyr Zelenskyy Organizations: Service, Nova Kakhovka, Kyiv Independent, Kakhovka, Independent Locations: Ukraine, Dnipro, Russian, Ukrainian, Wall, Silicon, Nova, Novosti, Nova Kakhovka, Kherson, Moscow

☆ Djokovic looking forward to Paris Olympics in hectic 2024
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

The world number one also made the Wimbledon final earlier this year, where he was beaten in five sets by Carlos Alcaraz, and he is in no mood to slow down. "It's going to be challenging for players, but my plan is to play the Olympics, because it's one of the most important events in the history of the sport. That's where you also represent the country and the feeling of being part of it is a huge honour." Djokovic missed Serbia's 3-0 victory over South Korea in the Finals group stage this week as he was travelling, but is likely to feature against a Spain side missing Alcaraz on Friday. Reporting by Shrivathsa Sridhar in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Novak, Djokovic, Carlos Alcaraz, Roland Garros, Shrivathsa Sridhar Organizations: Wimbledon, Olympic Games, Davis, U.S, U.S ., South, Thomson Locations: VALENCIA, Beijing, London, Rio, Tokyo, Serbian, Valencia, Wimbledon, South Korea, Spain, America, Bengaluru

☆ Canada's Laurentian Bank says completed review of strategic options
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

The logo of Laurentian Bank is seen at its head offices in Montreal, April 1, 2015. REUTERS/Christinne Muschi Acquire Licensing RightsSept 14 (Reuters) - Canada's Laurentian Bank (LB.TO) said on Thursday it has completed a previously disclosed review of strategic options, with the lender now focusing on simplifying its organizational structure. "The Board, with the support of the Executive Management Team, has unanimously concluded that the best path forward is... accelerated evolution of its current strategic plan with an increased focus on efficiency and simplification," Laurentian said. However, later that month, a media report citing sources said Montreal-based Laurentian was struggling to find an acquirer and that Canada's top banks - Bank of Nova Scotia (BNS.TO) and Toronto-Dominion Bank (TD.TO) - had backed out of a potential acquisition. Laurentian said it considered a variety of options through the review process, including an acquisition of the whole bank and divesting certain businesses.

Persons: Christinne, Manya Saini, Krishna Chandra Organizations: Laurentian Bank, REUTERS, Executive Management Team, Laurentian, Bank of Nova, Dominion Bank, Thomson Locations: Montreal, Bank of Nova Scotia, Toronto, Bengaluru

☆ US FDA authorizes Pfizer-BioNTech and Moderna's updated COVID shots
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

[1/3] Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. A third shot, made by Novavax (NVAX.O), is still under review by the FDA. But obviously that requires that FDA have decided the data supports it," said Jesse Goodman, a professor at Georgetown and former FDA chief scientist. Moderna and Pfizer, which is partnered with German biotech firm BioNTech SE (22UAy.DE), said the updated vaccines were expected to be available the United States in the coming days. An endorsement by CDC Director Mandy Cohen, expected shortly, should clear the way for the new shots.

Persons: Andrew Kelly, Novavax, Jesse Goodman, —, Mandy Cohen, Cohen, Sriparna Roy, Mariam Sunny, Michael Erman, Shinjini Organizations: Food and Drug Administration, FDA, REUTERS, Pfizer, Moderna, U.S . Food, Drug Administration, for Disease Control, Prevention, Georgetown, EG, CDC, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru, New York

☆ FDA approves updated Covid vaccines from Pfizer and Moderna as hospitalizations rise
▼ + stars: | 2023-09-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The Food and Drug Administration on Monday approved updated Covid vaccines from Pfizer and Moderna , putting the shots on track to reach Americans within days as U.S. hospitalizations from the virus rise. The updated vaccines from Pfizer and Moderna won't be available to Americans just yet. The Biden administration said in August that it expects new single-strain vaccines from Pfizer, Moderna and Novavax targeting XBB.1.5 to be available to the public in mid-September. The upcoming arrival of updated vaccines offers some reassurance to Americans as the nation sees an increase in Covid cases and hospitalizations. Bourla and Moderna CEO Stéphane Bancel, in a separate statement, urged Americans to receive their updated Covid shot during the same appointment as their annual flu shot.

Persons: Biden, Pfizer's, Albert Bourla, Stéphane Bancel, hospitalizations Organizations: Pfizer, BioNTech, Peabody Institute Library, Drug Administration, Moderna, FDA, CDC, Covid, EG Locations: Peabody , Massachusetts, U.S

☆ Canada finance minister defends central bank independence after rate comment
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas White/Illustration Acquire Licensing RightsSept 6 (Reuters) - Canadian Finance Minister Chrystia Freeland defended the central bank's independence on Wednesday after her comments welcoming the Bank of Canada's decision not to increase its key interest rate raised concerns to the contrary. In a widely expected decision, the Bank of Canada held interest rates steady at a 22-year high of 5%. It is rare for Canadian government ministers to publicly back or criticize central bank policies. Like many developed economies, the Bank of Canada makes its monetary policy decisions independent of the federal government. In June, when the central bank raised rates for the first time after a four-month pause, Freeland stressed that she respected the independence of the central bank, a sentiment she repeated in a press conference later in the day.

Persons: Thomas White, Chrystia Freeland, Freeland, Derek Holt, Pierre Poilievre, Justin Trudeau's, Steve Scherer, David Ljunggren, Denny Thomas, Leslie Adler Organizations: Canadian Finance, Bank of, Bank of Canada, Conservative, Liberal, Ontario, Thomson Locations: Canada, Bank of Nova Scotia, British Columbia, Ottawa

FLORHAM PARK, N.J. (AP) — Aaron Rodgers crossed an item off his sports bucket list — and then made a statement with a more visible crossout. To mark the occasion, Rodgers posted a picture on a since-expired Instagram story of No. Political Cartoons View All 1148 Images“Well, I’m a big fan of Novak and I got to see him in person,” Rodgers said. Djokovic plays unseeded Ben Shelton in one men's semifinal Friday, while No. Rodgers and the Jets open their season on Monday night at home against the Buffalo Bills.

Persons: — Aaron Rodgers, Rodgers, Novak Djokovic, “, Djokovic, Novak, ” Rodgers, COVID, Ben Shelton, Carlos Alcaraz, Daniil Medvedev, ___ Organizations: New York Jets, U.S, Green Bay Packers, COVID, NFL, FDA, Jets, Buffalo Bills Locations: FLORHAM, N.J, New York, New Jersey

That has led to a rare situation in Canada where banks are seeing mortgage amortizations getting extended beyond 30 years, sparking calls from regulators to take immediate action to mitigate risks. For the other four banks, mortgages amortizing under 25 years account for a half to nearly three quarters. Scotiabank's Canada head Dan Rees said the bank was now being more "disciplined with regards to customer selection" for new mortgages. Still, the risks remain elevated as consumers are struggling to make monthly payments due to the rising cost of living. TD Bank's Canada personal banking head Michael Rhodes told analysts this week that "a meaningful number of customers" are making the changes.

Persons: Mark Blinch, Hratch Panossian, Dan Rees, Brian Madden, Michael Rhodes, Dave McKay, Nivedita Balu, Denny Thomas, Stephen Coates Organizations: REUTERS, Rights, Canada's, Reuters, CIBC, Bank of Nova, Investment, Thomson Locations: Toronto, Milton , Ontario, Canada, Bank of Nova Scotia

☆ Pickering Energy Partners launches oil and gas investment banking unit
▼ + stars: | 2023-09-01 | by ( David French | ) www.reuters.com time to read: +3 min

Sept 1 (Reuters) - Pickering Energy Partners (PEP) is launching a financial advisory unit for oil and gas dealmaking, the investment firm said on Friday, doubling down on traditional fossil fuels as some banks are becoming wary about the industry and ramping up their bets on clean energy. The launch of the investment banking unit marks a return to oil and gas advisory services for Dan Pickering, the veteran energy financier who helped form Tudor, Pickering, Holt & Co, an energy boutique bank that was acquired by Perella Weinberg Partners (PWP.O) in 2016. Houston-based PEP has an existing investment banking unit that focuses solely on energy transition, while the firm's other offerings include equity research, investment funds, and consulting services. All non-compete agreements between the two firms have now expired, enabling Pickering to pursue oil and gas advisory work. Banks including BNP Paribas (BNPP.PA), Bank of Montreal (BMO.TO) and Bank of Nova Scotia (BNS.TO) have pulled back from oil and gas dealmaking over the past few years.

Persons: Dan Pickering, Tudor, Perella Weinberg, dealmakers, Jason Kivett, Robyn Underwood, Pickering, Banks, David French, Anirban Sen, Sherry Jacob, Phillips Organizations: Pickering Energy Partners, Holt & Co, Barclays Plc, Houston, BNP, Bank of Montreal, Bank of Nova, Credit Suisse, UBS Group AG, Reuters, Thomson Locations: Pickering, Bank of Nova Scotia, New York

☆ CIBC's profit falls below estimates as it guards against bad loans
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

A sign for the The Canadian Imperial Bank of Commerce (CIBC) in Toronto, Ontario, Canada December 13, 2021. CIBC, the last big six Canadian bank to report results for the third quarter, was also the latest to guard against potentially sour loans, a factor that is dragging on earnings across the sector. The issue was reflected in its core Canadian personal and business banking segment, where net income fell 16%. At its commercial banking and wealth management segment, net income fell 4%. CIBC's peers TD Bank (TD.TO), Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and National Bank (NA.TO) missed quarterly profit estimates earlier in the week, also weighed down by higher provisions.

Persons: Carlos Osorio, Nivedita Balu, Pritam Biswas, Shweta Agarwal, David Holmes Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Thomson Locations: Toronto , Ontario, Canada, Bank of Nova Scotia, Toronto, Bengaluru

CIBC blamed soft U.S. real estate and construction sectors and high interest rates for its three-fold jump in bad loan provisions to C$736 million ($544 million). "Where we are seeing the issues is in commercial real estate and in particular, in the institutional office space," said Shawn Beber, the bank's head of U.S. operations. And as that transition continues, you'll see (commercial real estate) wind up being a smaller percentage of the overall U.S. portfolio as our commercial and industrial and our wealth businesses continue to grow," Beber told analysts. The U.S. office portfolio represents less than 1% of CIBC's overall loan book and 20% of overall U.S. commercial real estate. "It appears that higher interest rates for longer may be the primary culprit," RBC analyst Darko Mihelic said.

Persons: Carlos Osorio, Shawn Beber, Beber, Brian Madden, Darko Mihelic, Nivedita Balu, Pritam Biswas, David Holmes, Mark Potter Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Royal Bank of Canada, Investment, RBC, Thomson Locations: Toronto , Ontario, Canada, U.S, Bank of Nova Scotia, Canadian, Toronto, Bengaluru

☆ When 19 Makes You the Veteran Player at the U.S. Open
▼ + stars: | 2023-08-30 | by ( Lola Fadulu | More About Lola Fadulu | ) www.nytimes.com time to read: +1 min

As Coco Gauff and Mirra Andreeva faced off at the U.S. Open on Wednesday, fans in the stands remarked about how old — really how young — they were while competing at the top of their sport. Gauff, who at 19 is not much older than the 16-year-old Andreeva, has for several years been a household name in tennis, ever since she made a run to the fourth round of Wimbledon in 2019. Her growing stardom means that she often finds herself playing in featured matches at the U.S. Open, in front of the most fans in person and in choice television slots. On Wednesday, that was in a 6-3, 6-2 win over Andreeva at Arthur Ashe Stadium, playing ahead of Novak Djokovic. It was a matchup, and a moment, that Gauff, a sixth-seeded American, controlled with ease while keeping a breezy but brisk pace.

Persons: Coco Gauff, Mirra Andreeva, Arthur Ashe, Novak Djokovic, Gauff, ” Organizations: U.S, Wimbledon, U.S .

BMO, which bought U.S. regional lender Bank of the West earlier this year, said provision for credit losses rose to C$492 million ($361.42 million), compared with C$136 million a year ago. The bank's earnings were also affected by severance costs of C$162 million and C$83 million in legal provisions at its capital markets unit. At Bank of Montreal, net interest income for the quarter rose to C$4.91 billion, compared with C$4.20 billion last year. At Scotiabank net interest income fell to C$4.58 billion, from $4.68 billion a year ago, largely hurt by lower corporate lending and lower loan fees. At Scotiabank, net income came in at C$2.23 billion, compared with C$2.61 billion.

Persons: Carlos Osorio, Tayfun Tuzun, BMO's, Scott Thomson, Thomson, John Aiken, BMO's Tuzun, Nivedita Balu, Pritam Biswas, Sri Hari, Shweta Agarwal, Bernadette Baum, Mike Harrison, Jonathan Oatis Organizations: Bank of Montreal, REUTERS, Bank of Nova, Bank of Canada's, BMO, Bank, Scotiabank, Barclays, Bank of, Analysts, Thomson Locations: Toronto , Ontario, Canada, Bank of Nova Scotia, Toronto, U.S, Mexico, Bank of Montreal, Bengaluru

☆ TSX set to open flat ahead of data-packed week
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1105 GMT), after finishing the week flat on Friday. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended higher on Friday, lifted by gains in energy stocks. Investors are also awaiting earnings from major Canadian banks, including Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and National Bank of Canada (NA.TO), reporting this week. Wall Street futures edged higher on Monday.

Persons: Chris Helgren, Canada's, Shashwat Chauhan, Shweta Agarwal Organizations: Toronto Stock Exchange, REUTERS, Bank of Canada, Toronto Stock, Bank of Montreal, Bank of Nova, National Bank of Canada, Wall, Brent, Thomson Locations: Toronto , Ontario, Canada, United States, China, Bank of Nova Scotia, Bengaluru

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

☆ CVS pushes into making cheaper versions of complex drugs with new discount Humira
▼ + stars: | 2023-08-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

CVS Health is partnering with drugmaker Sandoz to produce a near identical version of the blockbuster arthritis treatment Humira that will sell for 80% below the price of the brand-named drug. The move is part of the company's new venture focused on securing, and in some cases co-producing, biosimilar drugs, which are the equivalent of generic versions of complex gene or protein-based therapies known as biologics. CVS is already one of the leading players when it comes to sourcing generic drugs through Red Oak, its joint venture with Cardinal Health . Abbvie reported more than $4 billion in Humira sales in its most recent quarter, which was slightly better than expected. Correction: CVS Health subsidiary Cordavis will partner with Sandoz on biosimilar drugs.

Persons: drugmaker Sandoz, We've, it'll, Prem Shah, drugmaker, Amgen's Amjevita, Murdo Gordon, Abbvie, Cuban's, John Ransom, Raymond James, Ransom, Sandoz Organizations: CVS Health, CVS, Cardinal Health, Novartis Pharmaceuticals, Sandoz, Novartis, FDA, Blue, Drug Company, Amazon Pharmacy Locations: U.S, Red, California

A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015. The shares of the top five banks - Royal Bank of Canada , TD Bank (TD.TO), Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and CIBC (CM.TO) - have lost between 2% and 8% so far this year. Reuters GraphicsRoyal Bank of Canada and TD Bank will kick off third-quarter results on Thursday. RBC analyst Darko Mihelic forecast a 9% third-quarter revenue decline from a year ago for the capital-market business of the large Canadian banks. Investors will also watch for any updates on Bank of Nova Scotia's (BNS.TO) turnaround plan for its international business.

Persons: Mark Blinch, Mike Rizvanovic, Darko Mihelic, Cowen, RBC's Mihelic, Nivedita Balu, Matthew Lewis Organizations: Royal Bank of Canada, REUTERS, RBC, TD Bank, Bank of Montreal, Bank of Nova, CIBC, National Bank, Toronto Stock, Bank of Canada, Reuters Graphics Royal Bank of Canada, HSBC Canada, Laurentian Bank, Thomson Locations: Toronto, dealmaking, TORONTO, Bank of Nova Scotia

☆ Novavax shares surge after drugmaker says new Covid vaccine was effective against Eris variant
▼ + stars: | 2023-08-22 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Shares of Novavax jumped more than 13% on Tuesday after the biotech company said its new Covid vaccine generated a broad immune response against the now-dominant Eris variant and another fast-spreading strain of the virus in small animal trials. But the trial results suggest that the shot may still be effective against newer Covid variants gaining a greater foothold in the U.S. That includes Eris and XBB.1.16.6, both of which are also descendants of omicron. "We have a lot of confidence in our updated Covid vaccine and are working diligently with global regulatory bodies to ensure our protein-based vaccine is available this fall," Filip Dubovsky, Novavax's president of research and development, said in a release. The World Health Organization designated Eris a "variant of interest," meaning it will be monitored for mutations that could make it more severe. XBB.1.16.6 is also beginning to surge, accounting for 8% of all cases nationwide as of Saturday, the CDC said.

Persons: Novavax, Filip Dubovsky Organizations: Pfizer, Moderna, U.S . Food, Drug Administration, EG, Centers for Disease Control, World Health Organization, CDC Locations: U.S, hospitalizations

Search resuls for: "of Nova"

25 mentions found