Markets
Bank of Canada governor Stephen Poloz to step down in 2020
While the Bank of Canada Act does permit governors to seek a second term, no governor has done so in the past 40 years. Before becoming head of Canada's central bank in 2013, Poloz was chief executive of Export Development Canada. "There's change going into 2020, the markets could easily start to speculate that perhaps somebody more willing to ease could come into the seat", said Derek Halpenny,... [Full Article...]
Trump signals delay in China trade deal: ASX poised to open lower
He described the talks underway with Beijing as "intense", adding that they occur nearly daily. "In some ways, I like the idea of waiting until after the election for the China deal", Trump said at a London press conference. "That's not a big deal, we can very well live without the port of Hong Kong", he said. "There are so much at stake here when you go through the various categories. [Full Article...]
RBI to announce its 5th bi-monthly monetary policy for current fiscal
It is reasonable to conclude that MPC feels that another rate cut at this moment will not have a meaningful impact, given the problems dragging down the economic momentum. In October, consumer price inflation rose to a 16-month high of 4.62 per cent. Bond yields spiked and equities fell after the decision. Though growth concerns are still paramount, a lot has changed between the earlier polici... [Full Article...]
Buick will became a crossover-only brand in 2021, killing off Regal
Buick's decision to shift to an all-SUV lineup follows the same move by Ford, which said previous year it will discontinue all passenger cars, except the Mustang. "Although the Regal will no longer be offered in the USA and Canada, it will be sold in China where demand for sedans remains significant". It also means that two of General Motors' four automotive brands will not offer a single auto. [Full Article...]
US, China trade deal 'close': Kudlow
Trump suggested that in some ways, it might be better to wait until after the US presidential election next November. "We will not set any time limit on when the deal will or will not be reached", Chinese foreign ministry spokeswoman Hua Chunying said, adding, "This agreement and these negotiations must be based on equality and mutual respect". [Full Article...]
8 more companies that Google CEO Sundar Pichai now heads - Slideshow
Larry Page and Sergey Brin announced they were stepping down as CEO and president of Google's parent company, Alphabet , on Tuesday. Alphabet was formed in 2015 as a holding company for Google . I'm looking forward to continuing to work with Larry and Sergey in our new roles. To many throughout the industry, why couldn't Page and Brin just stay and fix the major issues from within the... [Full Article...]
Canadian Imperial Bank: Fiscal 4Q Earnings Snapshot
First Trust Advisors LP owned approximately 0.11% of Canadian Imperial Bank of Commerce worth $40,141,000 at the end of the most recent quarter. RBC, Canada's biggest bank, reported this week that earnings fell one per cent year-over-year for their fourth quarter, to $3.2 billion. [Full Article...]
Yes Bank Stock Slumps Over 5% On Ratings Downgrade
Shares of Yes Bank crashed over 10 per cent on Friday, hit by ratings downgrade by Moody's Investors Service. The high direct exposure to government credit risk, in addition to the primarily Pakistan focus of their operations, links the banks' credit profile to that of the government. [Full Article...]