Exporters rushed to sidestep U.S. tariffs, pushing GDP higher despite housing slowdown and weak household spending. A rush to get ahead of Canada’s looming tariff dispute with the United States powered economic growth in the first quarter, Statistics Canada said...
Adjusted earnings beat expectations despite higher credit loss provisions. National Bank of Canada reported a second-quarter profit of $896 million, down slightly from $906 million a year earlier. The Montreal-based bank says the profit amounted to $2.17 per diluted share for...
Imports surge ahead of Trump tariffs, dragging GDP into first decline in three years. The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted...
China's steel exports surged to 118M tons in 2024, resulting in protective measures and growing trade tensions by other governments. The Organization for Economic Cooperation and Development (OECD) that the difficulties in the global steel industry are likely to continue...
Canadian commercial banking and wealth management segment posted a net income of $549M. CIBC reported a second-quarter profit of $2 billion, up from $1.8 billion in the same quarter last year. Revenue totalled $7 billion, up from $6.2 billion. The higher...
Euroclear and Singapore’s Marketnode announced the integration of their respective fund systems, FundsPlace and Fundnode. It follows an investment by Euroclear in Marketnode last year, joining early backers HSBC, SGX and Temasek. Fundnode is a blockchain-based fund settlement infrastructure...
They expect to continue to grow in the markets they operate. Maybank reported a net profit of $614.25m (MYR2.59b) for Q1 2025, a 4% year-on-year rise, according to its latest financial report. Net operating income rose 1.8% to $1.8b (MYR7.71b), according...
New Zealand's central bank cut its benchmark rate by 25 basis points to 3.25% on Wednesday and flagged a slightly deeper easing cycle than it forecast three months ago, underlining the rising economic risks from a sharp shift in...
Banks provide credit facility expansion to fund Accu-Fab deal targeting high-growth data center markets. Mayville Engineering Company has announced a definitive agreement to acquire Accu-Fab, LLC from strategic holding company Tide Rock for $140.5 million, with Wells Fargo and JPMorgan...
China’s central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. The...
