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Online News Archive

Editor: Leslee Mason email Leslee

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September-October 2011

Moody's: US credit card charge-offs down further, delinquencies flat

October 26, 2011 -- US credit card charge-offs improved significantly in September, according to Moody's Credit Card Index.Moody's charge-off rate fell to 5.27%, its lowest point since December 2007, with the six largest issuers each posting sizeable declines in their trust charge-off rates.

 

Kaye Scholer represents Bank of America Merrill Lynch in $1.8 billion financing for United Rental

October 18, 2011 -- Kaye Scholer LLP has announced that it represented Bank of America, N.A., as administrative agent and a lender, and Merrill Lynch, Pierce, Fenner & Smith Incorporated as lead arranger, in a $1.8 billion U.S. and Canadian revolving credit facility extended to United Rentals ( North America), Inc. and United Rentals of Canada, Inc. and certain of their affiliates.

 

Better year ahead: 51 per cent of Canadian businesses believe 2012 will be better than 2011

October 14, 2011 -- Faced with global economic uncertainty, 51 per cent of Canadian businesses believe 2012 will be a better year than 2011, and only 13 per cent expect it to be worse.  More than one in three (79 per cent) of Canadian business  owners also plan to invest the same amount or more into their business in 2012, according to a new report from BMO Bank of Montreal.

 

NetWorth Services and EDI announce debut of Netbasis-Canada

October 5, 2011 -- NetWorth Services, Inc., a leading provider of cost basis products and services has announced the introduction of a new addition to their suite of Netbasis products - Netbasis-Canada. The result of a synergistic collaboration between NetWorth Services and Exchange Data International (EDI), Netbasis-Canada will provide crucial cost basis services to the Canadian financial industry.

 

Exports to U.S. expected to drop to 60 per cent of Canadian trade by end of the decade

October 5, 2011 -- Canadian companies are lessening their dependence on the U.S. as a trade partner with exports now 30 per cent more diversified than a decade ago, finds a new economic report from CIBC World Markets.

 

Tax simplification a low-cost way to boost economy, CGA-Canada tells federal Finance Committee

October 4, 2011--Tax simplification is not only desirable and beneficial, it's achievable, said the Certified General Accountants Association of Canada (CGA-Canada) during its pre-budget appearance before the House of Commons Standing Committee on Finance.

 

Scotiabank App for Android users now available in Canada

October 3, 2011--Scotiabank has expanded its app offerings, including Android for Canadian cusotmers, and a Smartphone application is available to customers in 20 Caribbean countries. This complements the Bank's existing suite of apps, now available for iPhone, BlackBerry and Android users in Canada.

 

PayNet services “go live” in Canada

September 21, 2011--- To better address the current lending environment Credit History Reports (CHR) are now available through PayNet’s online system to provide Canadian commercial finance lenders with exclusive credit profiles on hundreds of thousands of privately-held businesses.

 

Canadian small businesses growing again after hitting bottom last year

September 21, 2011--- PayNet, a firm that provides risk management tools and market insight to the Canadian commercial finance industry, has released the 2nd quarter 2011 Canadian Business Lending Index (CBLI). The Index signals the first signs of definitive growth. Its rise to 133 from the bottom of 127 hit last year is the first solid increase on both a year over year and quarter over quarter since 2007.

 

Global economic environment presents significant challenges and opportunities for Canada

September 20, 2011--- Over the summer, the global economic outlook deteriorated, the European sovereign debt crisis intensified, and investor confidence decreased in the ability of policy-makers to respond, Bank of Canada Governor Mark Carney said today.

 

Canadians' consumer confidence continues to fall: survey

September 15, 2011---Canadians' confidence in the economy continued its drop from last month as the economic climate continues to worsen in both Europe  and the United States.The TNS Canadian Consumer Confidence Index dropped more than another point, from 97.6 to 96.4, after dropping two points in August.

 

Canada's economy hits choppy waters but remains afloat: RBC Economics

September 12, 2011---Small business confidence took a significant hit in August as owners digested a string of bad news about world economy in the first half of the month. The Canadian Federation of Independent Business (CFIB)'s Business Barometer Index dropped to 61.7 last month from its July level of 68.3—the lowest reading since July 2009.

 

Small business optimism down in August, but not out

September 7, 2011---Small business confidence took a significant hit in August as owners digested a string of bad news about world economy in the first half of the month. The Canadian Federation of Independent Business (CFIB)'s Business Barometer Index dropped to 61.7 last month from its July level of 68.3—the lowest reading since July 2009.

 

Three parties' views on financial services unveiled as Ontario election campaigns kick off

September 7, 2011---The three parties represented in the Ontario Legislature have all expressed strong support for a national securities regulator headquartered in Toronto  and, for the first time, all agree that the federal government should be asked to review the treatment of HST with regard to financial products. These are just two of the topics addressed during an all candidates debate on issues of importance to the financial services industry that was arranged by the   Toronto Financial Services Alliance (TFSA).

 

Blistering pace of mining M&A grinds to a half; slowdown likely temporary

September 7, 2011---Maple Leaf Sports & Entertainment and Scotiabank announced Tuesday that Scotiabank has entered an exclusive partnership to be the Official Bank of the Toronto Maple Leafs. The announcement of the agreement will take place at the 2011 Leafs & Legends Charity Golf Classic.  Scotiabank is the presenting sponsor of the event, benefitting the Maple Leaf  Sports & Entertainment (MLSE) Team Up Foundation.

 

Scotiabank now official bank of the Toronto Maple Leafs

September 6, 2011---Maple Leaf Sports & Entertainment and Scotiabank announced Tuesday that Scotiabank has entered an exclusive partnership to be the Official Bank of the Toronto Maple Leafs. The announcement of the agreement will take place at the 2011 Leafs & Legends Charity Golf Classic.  Scotiabank is the presenting sponsor of the event, benefitting the Maple Leaf  Sports & Entertainment (MLSE) Team Up Foundation.

Market volatility still a concern for Canadians, says Russell Financial Health Index Oct 31, 2011

Bank of Canada maintains overnight rate target at 1 per cent Oct 25, 2011

International forum on financial risk Oct 17, 2011

New EMA head at RBS Global Transaction Services Oct 13, 2011

FINCAD appoints Council of Advisors Oct 13, 2011

Reval launches single SaaS platform Oct 13, 2011

Financial sector's most prestigious event coming to Toronto Sept 14, 2011

MasterCard Foundation exposes students to entrepreneurship, financial inclusion Sept 6, 2011

B2B Trust to acquire MRS Companies from Mackenzie Financial Corp Sept 2 , 2011

 

 

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