Category: Canada

Canada

Credit crunch fallout will cast a long shadow | RBC

Colin Henderson

IN the clearest indication yet of the depth of the credit crunch and how it will impact Canadians, Nixon of RBC speaks about the impacts on consumers.  Credit crunch fallout will cast a long shadow The consensus of the big brains? The credit market is stabilizing, finally. But the after-effects of the Great Debt Squeeze will linger. (And by the way, they’ll probably hit your wallet, if they haven’t already.) No one was more pointed about this than Mr. Nixon, who called it the most severe financial crisis since the Great Depression and used the word “bubble” to describe the … Continue reading Credit crunch fallout will cast a long shadow | RBC

Canada1 Comment

CIBC a takeover candidate? | Dundee Securities

Colin Henderson

I have been waiting for mention of one of the Canadian Banks and merger/ takeover prospects, in the context of capital adequacy. This in light of never ending announcements of new sets of losses, some tied to subprime, and some tied to bad decision making and market speculation. Those losses have grown consequently since that 2007 post. CIBC a takeover candidate? – FP Trading Desk The possibility of more writedowns at CIBC could force the bank into another’s hands, says John Aiken, analyst at Dundee Securities. Following on the heels of the U.S. Federal Reserve’s Fannie Mae and Freddie Mac … Continue reading CIBC a takeover candidate? | Dundee Securities

Business Models, Canada3 Comments

RBC p2p | an update

Colin Henderson

RBC have had their student blog up for a few months now, and thought I would check back in. About RBC p2p – Everything students need to know about money Ever notice that bank commercials tend to have a lot of grey haired people waxing poetic about retirement? Or suits conferring with more suits about leveraging assets? This isn’t for those people. The posts are smart and well written. Its difficult to know how much review occurs before posting but the result is a good collection of posts varying from speaker reviews, cultural events, to basic budgetting. The main quibble … Continue reading RBC p2p | an update

Canada

RBC disputes critical Citi assessment

Colin Henderson

The usually impenetrable RBC gets into a dispute over future loss potential with Citi analysts. TheStar.com | Business | RBC disputes critical Citi assessment Citi Investment Research analyst Shannon Cowherd lowered her rating on the stock from “hold/high risk” to “sell/high risk” and cut her price target from to C$40 from C$47. “The downgrade is driven by our conservative estimate of a $5 billion potential credit-related writedown and a $2-billion increase to the provision for credit losses,” Cowherd wrote in a report to clients. Continue reading RBC disputes critical Citi assessment

Canada, EU, UK, US1 Comment

Mapping the credit crunch |Financial Times

Colin Henderson

Nice interactive map showing the worldwide impacts. FT.com / In depth – Mapping the credit crunch The FT’s exclusive interactive map charts how and when many of the financial groups affected by the crisis in the US subprime mortgage markets and the consequent turmoil in credit markets worldwide either made a killing or lost their shirts. Continue reading Mapping the credit crunch |Financial Times

Canada1 Comment

Mozilla Firefox global usage share | 2005

Colin Henderson

 Old stats here but the Canadian usage of Firefox is significantly higher than elsewhere – further evidence of the geekiness of Canada. The most popular browsers on the web are: 1. Microsoft IE   85.45 % 2. Mozilla Firefox  11.51 % 3. Apple Safari  1.75 % 4. Netscape  0.26 % 5. Opera  0.77 % The most popular browsers in the USA are: 1. Microsoft IE  80.73 % 2. Mozilla Firefox  14.07 % 3. Apple Safari  3.55 % 4. Netscape  0.76 % 5. Opera  0.77 % The most popular browsers in Canada are: 1. Microsoft IE  78.52 % 2. Mozilla Firefox  16.98 … Continue reading Mozilla Firefox global usage share | 2005

Canada2 Comments

eMarketer.com – Canada Online growth rates

Colin Henderson

 Some interesting stats from eMarketer on North American Internet and broadband penetration.  These numbers seem lower than I had thought, but they follow usual eMarketer approach of summarising and aggregating other research, and it seems credible. Executive Summary: Some 58% of Canada’s population is online, which is only slightly behind the US penetration rate of 63%. Broadband growth has exceeded that of the US, with 59% of households connected via a high-speed Internet connection at the end of this year compared with 44% of US households. Source: eMarketer.com – Canada Online The penetration is predicted to level off at close … Continue reading eMarketer.com – Canada Online growth rates

Canada, Payments

Payments News: Survey Shows Canadians Not Shielding Their Debit Card PIN Regularly

Colin Henderson

 Courtesy of Payments News, an Interac (payment association) survey that shows most Canadians do not use their debit cards safely.  Here is some sound advice from the association to bank customers who use debit. Use your hand or body to shield your PIN when you are conducting transactions at an Automated Banking Machine (ABM) or at the checkout. # Keep your banking card in sight when conducting transactions at the checkout. Check your banking statements regularly and contact your financial institution immediately if you detect any unusual activity, e.g. purchases you did not make or missing charges. If your debit … Continue reading Payments News: Survey Shows Canadians Not Shielding Their Debit Card PIN Regularly

Canada, Profitability

Canadian 3rd quarter earnings season

Colin Henderson

As reported at Canadian Banks and Insurance next week is third quarter earnings time, with focus amongst other things, on margins, Enron, and Wealth management growth. Canadian Banks & Insurance: Bank Profits Seen Up; Domestic Margins Key Bank of Montreal, Toronto-Dominion and Royal report quarterly results the week of Aug. 21. Analysts expect per-share earnings, before items, of C$1.20 for BMO, C$1.16 for TD and 85 Canadian cents for Royal, according to Reuters Estimates. Bank of Nova Scotia , National Bank of Canada and Canadian Imperial Bank of Commerce will follow in the week of Aug. 28. The mean analyst … Continue reading Canadian 3rd quarter earnings season

Canada, Payments

Symcor licenses Carreker Image Inspector

Colin Henderson

Symcor who are owned by, and manage cheque clearing for some Canadian banks, (Royal Bank of Canada, Bank of Montreal & Toronto Dominion Bank) are moving ahead in preparation for cheque imaging, and clearing, known in Canada as TECP. Finextra: Symcor licenses Carreker Image Inspector “In preparation for Truncation and Electronic Check Presentment (TECP), Canada’s equivalent to Check 21, one of our top priorities is to have a solution in place that mitigates our risk exposure, protects our customer’s privacy, and ensures document integrity — by not only analyzing an image for quality, but also for usability both in our … Continue reading Symcor licenses Carreker Image Inspector