The IMF says banking issues appear contained for now and that inflation is the bigger risk and top concern for central bankers and attendees of the IMF/World Bank spring meeting this week in Washington. “Financial stability risks have been contained so far and hopefully that will remain the case,” Tobias Adrian, director of the monetary…
Category: Finance
Cenovus Energy downgraded by Scotiabank
Cenovus Energy aims to cut its net debt position to less than $4 billion in 2023. (THE CANADIAN PRESS/Jeff McIntosh) Shares of Cenovus Energy (CVE.TO)(CVE) have been downgraded by Scotiabank Global Equity Research as a weaker US refining margins challenge plans to slash debt and boost shareholder returns in 2023. The Calgary-based company cut its…
Zambia sent bondholders debt restructuring proposal, the finance ministry says
By Jorgelina do Rosario, Rodrigo Campos FILE PHOTO: Zambia’s Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, US, October 15, 2022. REUTERS/James Lawler Duggan/File Photo WASHINGTON/NEW YORK (Reuters) – Zambia last week gave its bondholders a “concrete proposal” for the restructuring of some $3 billion…
Twitter to let users access stocks, crypto via eToro in finance push
Elon Musk told a Morgan Stanley conference last month he wants Twitter to become “the biggest financial institution in the world.” Budrul Chukrut | Sopa Images | Lightrocket via Getty Images Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company. Starting Thursday, a…
Canada Life purchases wealth manager IPC from sister company IGM Financial
Canada Life Assurance Co. – a subsidiary of Great-West Life – will purchase Investment Planning Counsel for $575-million in an all-cash deal from its sister company IGM Financial. IGM Financial Inc. IGM-T and Great-West Lifeco Inc. GWO-T have struck a deal that will see independent wealth manager Investment Planning Counsel Inc. change hands while IGM…
Tupperware warns of collapse unless it finds funds
Tupperware products are offered for sale at a retail store on April 10, 2023 in Chicago, Illinois, US Tupperware, the US maker of food storage containers, has warned that it could go bust unless it can quickly raise new financing. The 77-year-old firm said there was “substantial doubt about its ability to continue as a…
Jamie Dimon says the banking crisis is not over yet, blames the Fed for problems
Breadcrumb Trail Links News Finance Banking Dimon points finger at regulators for bank collapses Author of the article: Bloomberg News Hannah Levitt Published April 04, 2023 • Last updated 1 week ago • 3 minute read JPMorgan & Chase chief executive Jamie Dimon in February. Photo by Marco Bello/Reuters Article content Silicon Valley Bank’s blunders…
Liz Truss’ retirement episode flags risk of further financial crises, says IMF | International Monetary Fund (IMF)
The near collapse of Britain’s pension funds during Liz Truss’s brief premiership highlights the risk that higher global interest rates will trigger more financial crises in the coming months, the International Monetary Fund (IMF) has warned. In a report, the agency based in Washington DC said the rescues of Silicon Valley Bank and Credit Suisse…