Canadian banks set for earnings decline but investors optimistic about recovery

Canadian banks are set to post their fourth straight year-on-year quarterly profit drop when they report results next week, the longest decline streak since the financial crisis, on margin compression and declining commercial lending, but flattening loan loss provisions signal a turning point, investors said. Banks’ profit margins are also expected to get a boost […]

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Brazil’s securities industry watchdog to investigate change of Petrobras CEO

Brazil’s securities industry watchdog CVM is expected to launch an investigation on Monday following the announcement by President Jair Bolsonaro of the change of CEO at state-controlled oil company Petrobras, according to one source with knowledge of the matter. Bolsonaro first announced the nomination of former General Joaquim Silva e Luna to replace current CEO […]

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White House says U.S. communicating with Iran over detained Americans

White House national security adviser Jake Sullivan said on Sunday the United States had begun to communicate with Iran over the country’s detention of American citizens, calling the matter a “complete and utter outrage”. Iran has arrested dozens of dual nationals, including several Americans, in recent years, mostly on espionage charges. Rights activists accuse the […]

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Boeing recommends carriers halt some 777 flights pending FAA inspection guidance

Boeing Co said on Sunday it was recommending air carriers halt flights of 777 airplanes like the United Airlines plane that suffered a right engine failure until the Federal Aviation Administration (FAA) issued inspection protocols. Boeing said it recommends “suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 […]

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