Scotiabank Fifth Canadian Bank to Top Estimates as Trading Revenue Doubles Aug 29, 2009
Bank of Nova Scotia said fees for trading derivatives, equities and currencies more than doubled to C$387 million ... Bank of Nova Scotia left its dividend unchanged for the sixth straight quarter, at 49 cents a share. (Bloomberg -- Canada)
Canadian Stocks Cap Weekly Gain as Commodity Producers Rise; Banks Decline Aug 29, 2009
Bank of Nova Scotia led a retreat in financial shares after reporting a drop in profit. The added 44. (Bloomberg -- Canada)
Cemex Extends Payments on $15 Billion in Debt Owed to Banks Through 2014 Aug 15, 2009
The cost seems to be in line with what the market was expecting, , an analyst with the Mexican unit of Bank of Nova Scotia, said in an interview. Its positive that theyll now be able to focus more on operations. (Bloomberg -- Latin America)
Scotiabank Overtime Lawsuit Is Delayed After CIBC Suit Rejected by Court Jul 14, 2009
The case is Between Cindy Fulawka and the Bank of Nova Scotia, 07-cv-345166, Ontario Superior Court of Justice (Toronto). To contact the reporter on this story: in Toronto at. (Bloomberg -- Canada)
Ex-`Ragtime' Producer Drabinsky Proposes Lecture Tour to Pay for Fraud Jul 8, 2009
They also obtained lines of credit worth as much as C$60 million from the , Bank of Nova Scotia and the Canadian Imperial Bank of Commerce. The case is between Her Majesty the Queen and Garth Drabinsky, P592/06, Ontario Superior Court of Justice (Toronto). (Bloomberg -- Canada)
Prosecutor Says Ex-Broadway Producers Should Spend 8-10 Years Behind Bars Jul 7, 2009
They also obtained lines of credit worth as much as C$60 million from the , Bank of Nova Scotia and the Canadian Imperial Bank of Commerce. Drabinsky quit as chief executive officer in April 1998, saying he wanted to concentrate on his duties as chief creative officer. (Bloomberg -- Canada)
Teck Sells 17% Stake to Chinese Fund for C$1.74 Billion to Reduce Debt Jul 4, 2009
For CIC, it represents the opportunity to participate in the inevitable upswing in commodities, and for Teck, CIC represents a long-term, patient investor that can also provide assistance in its largest market,'' Scotia Capital, a unit of Bank of Nova Scotia, said in an e-mailed statement. The transaction is CIC's ``first major investment'' in a Canadian company. (Bloomberg -- Canada)
Related's CityPlace South Tower in 'friendly foreclosure' Jul 2, 2009
Bank of Nova Scotia: $23 ... Cherish Thompson, the Miami-based attorney who represents Bank of Nova Scotia in the complaint, didn t immediately return a call seeking comment. (South Florida Business Journal, FL)
BlackWatch Energy Services Corp. Announces Extension of Senior Credit Facility and Early Warning Jul 1, 2009
CALGARY, ALBERTA--(Marketwire - July 1, 2009) - BlackWatch Energy Services Corp. ("BlackWatch") (TSX: - ) is pleased to announce that Bank of Nova Scotia has agreed to extend the maturity of the senior credit facility to December 31, 2009. The amount available under the facility is $9 million, of which BlackWatch has currently drawn approximately $4. (CCNMatthews Press Releases)
NorthWestern Energy Boosts and Extends Corporate Revolving Credit Facility Jul 1, 2009
The banks in the facility include Banc of America Securities LLC (Lead Arranger), JPMorgan Chase Bank, N.A. (Syndication Agent), Union Bank N.A. (Co-Documentation Agent) and U.S. Bank National Association (Co-Documentation Agent), Deutsche Bank, UBS Loan Finance, Bank of Nova Scotia, KeyBank Nat'l Assoc. and Credit Suisse. (PR Newswire)
Scotiabank Targets Money Manager Acquisitions in Latin America, Caribbean Jun 23, 2009
Bank of Nova Scotia agreed in March to buy a majority stake in Five Continents Financial Ltd. of the Cayman Islands to add to its money-management business. The Toronto-based bank also operates consumer lenders in countries including Mexico, Peru and Chile. (Bloomberg -- Canada)
4-Star Stocks Poised to Pop: Credicorp Jun 20, 2009
Bank of Nova Scotia (NYSE: BNS). CAPS Members Bullish on BAP Also Bullish on. (MSNBC -- Business)
Canadian Imperial Wins Dismissal of Teller Lawsuit Over Unpaid Overtime Jun 19, 2009
Bank of Nova Scotia, Canadas third-biggest bank, has a hearing scheduled from July 13 to July 17 on a similar certification request from current and former employees who claim they werent paid overtime they were entitled to. Lax is also scheduled to hear that case. (Bloomberg -- Canada)
Neil Young, 2,000 Guitars, Cirque du Soleil Pack Toronto Luminato Festival Jun 5, 2009
The bulk of Luminatos funding comes from the government, Price said, and about 30 percent from corporate sponsors, including , the worlds largest cosmetics maker, , Bank of Nova Scotia, National Bank of Canada, and others. The remainder of funding is from philanthropy and ticket sales. (Bloomberg -- Canada)
BlackWatch Energy Services Corp. Announces Extension of Credit Facilities Jun 3, 2009
CALGARY, ALBERTA--(Marketwire - June 2, 2009) - BlackWatch Energy Services Corp. ("BlackWatch") (TSX: - ) is pleased to announce that the lenders under BlackWatch's senior secured credit facility, led by the Bank of Nova Scotia, as well as the related party lender under its subordinated loan facility, have agreed to extend the maturity of both the senior and subordinated facility to June 30, 2009. This extension has been implemented to allow BlackWatch additional time to further its ongoing... (CCNMatthews Press Releases)
TD Bank, CIBC, Scotiabank Exceed Estimates as Canadians Crush U.S. Returns May 29, 2009
May 28 (Bloomberg) -- Toronto-Dominion Bank, , Bank of Nova Scotia and National Bank of Canada reported second-quarter results that were better than analysts expected, adding to stock gains for Canadian banks that have outshone U.S. rivals ... Bank of Nova Scotia, the No. 3 bank, said profit fell 11 percent to C$872 million, or 81 cents a share. (Bloomberg -- Canada)
Metrogas, Vale, Lupatech, Scotiabank Peru: Latin America Equity Preview May 29, 2009
(SCOTIAC1 PE): Bank of Nova Scotia probably wont make additional acquisitions amid the recession as it sets aside more money for bad loans, Chief Financial Officer said in an interview. The bank reported that second-quarter profit fell 11 percent after loan-loss provisions more than tripled. (Bloomberg -- Latin America)
CIBC Ousts TD Securities as Top Equities Dealer as Banks Target Trading May 25, 2009
Bank of Nova Scotia, Canadas No. 3 bank, may say profit fell 10 percent to 87 cents a share on higher loan losses and a decline in asset-management fees, he said. Montreal-based may report per-share profit fell 14 percent to C$1. (Bloomberg -- Canada)
Gold rises as US dollar wilts May 23, 2009
Simon Weeks, director of precious metals at the Bank of Nova Scotia, said the majority of gold's gains were dollar related, with investors "buying hard assets as opposed to hard currency.". "Physical (buying) has been OK, but I expect a big increase in the open interest on the long side on the COMEX," he added. (Sydney Morning Herald -- Business)
Canadian Stocks Decline on U.S. Jobless Claims, Led by Suncor, Scotiabank May 22, 2009
Credit Suisse downgraded Bank of Nova Scotia and Royal Bank of Canada to neutral from outperform and cut Bank of Montreal and Canadian Imperial Bank of Commerce to underperform from neutral ... Bank of Nova Scotia dropped C$1. (Bloomberg -- Canada)
Iteration Energy (ITX) announces March 31, 2009 first quarter results May 15, 2009
QUICK SEARCH BY ORGANIZATION. FREE SUBSCRIPTION SERVICES. (Canada Newswire)
Gold eases as U.S. dollar gains May 14, 2009
Gold failed to get through $930 yesterday and obviously we've backed away from there but there's been safe haven interest that's helped support it, Simon Weeks, director of precious metals at the Bank of Nova Scotia, said. Vietnam's gold traders have sought permission from the central bank to import up to $600-million worth of gold, calling for an end to a year-long ban, a state-run newspaper reported. (Globe and Mail -- Business)
Market turmoil hammers CI's bottom line May 13, 2009
Bank of Nova Scotia is the firm's largest shareholder with a nearly 36-per-cent stake after buying Sun Life Financial Inc.'s interest in a $2. 3-billion cash and stock deal last year. (Globe and Mail -- Business)
Ridley Inc. Reports Financial Results for Fiscal 2009 Third Quarter May 12, 2009
On November 20, 2008, Ridley Inc. and its subsidiaries entered into a credit facilities agreement with the Bank of Nova Scotia that has a term expiring on October 31, 2011 ... It was replaced by a new credit facility agreement on November 20, 2008 with The Bank of Nova Scotia that has a term expiring on October 31, 2011. (CCNMatthews Press Releases)
Housing market not in recovery yet: Scotiabank May 6, 2009
The brief spring rally in the Canadian housing market although encouraging cannot be regarded as the beginning of a full-fledged recovery just yet, the Bank of Nova Scotia said in a report Tuesday ... We still feel there is more downside than upside risk to home sales and prices, Bank of Nova Scotia economist Adrienne Warren said in a research paper on real estate trends. (Globe and Mail -- Business)
Consumer insolvencies to skyrocket: TD May 4, 2009
In a new forecast from Bank of Nova Scotia, economists predict the unemployment rate will average 8. 8 per cent this year and 9. (Globe and Mail -- Business)
Number of EI beneficiaries swells by 7.8% Apr 29, 2009
Steep job losses in industries that tend to employ more men construction, manufacturing and mining explain the discrepancy, says Adrienne Warren, senior economist at Bank of Nova Scotia. Monthly numbers tend to be volatile, so Ms. Warren tracks three-month trends which show initial claims are a sizable 40 per cent higher than last year. (Globe and Mail -- Business)
Canadian Stocks Drop, Led By Commodities Producers; EnCana Shares Retreat Apr 28, 2009
Bank of Nova Scotia, Canadas third-largest lender fell 3. 1 percent to $34. (Bloomberg -- Canada)
Ottawa, banks take action to rescue mortgages Mar 27, 2009
"There are more people talking to us about how we can help, and in some cases it may be because they are facing difficulties," said Wendy Hannam, executive vice-president of personal banking and distribution at Bank of Nova Scotia. For those at risk of falling behind on their payments, "we are preparing materials for our front-line team to give them some guidance on additional tools that they can consider to help customers out," Ms. Hannam said. (Globe and Mail)
Ontario Plans to Cut Business, Personal Taxes, Leading to Record Deficit Mar 27, 2009
This budget represents a significant departure for this government, Bank of Nova Scotia senior economist said in an interview. With the downturn, it is now looking over to the corporate sector and repositioning it for the recovery. (Bloomberg -- Canada)
Livent Founders Drabinsky, Gottlieb, Convicted in $403 Million Fraud Case Mar 26, 2009
They also obtained lines of credit worth as much as C$60 million from the , Bank of Nova Scotia and the Canadian Imperial Bank of Commerce. Investors, represented by Dorian King and Diane King, sued in New York in 1998, alleging misrepresentation in a 1997 registration statement filed with the U.S. Securities and Exchange Commission in support of the sale of unsecured notes. (Bloomberg -- Canada)
Saskatchewan fits stimulus spending into surplus budget Mar 19, 2009
The Bank of Nova Scotia now anticipates zero growth this year ... We would think their forecasts a little optimistic, said senior Bank of Nova Scotia economist Mary Webb. (Globe and Mail)
TD to implement say on pay vote in 2010 Mar 19, 2009
Shareholder resolutions calling for non-binding votes were passed or accepted at the recent annual meetings of the Royal Bank, CIBC, Bank of Nova Scotia and Bank of Montreal ... Rick Waugh, head of the Bank of Nova Scotia took a 20 per cent cut in his compensation to $7. (Globe and Mail -- Business)
Auto plunge pinches factories Mar 18, 2009
3 per cent in January and, with the auto industry in dire straits, the outlook for the balance of the year is subdued, according to an economic forecast issued by Bank of Nova Scotia economist Adrienne Warren Tuesday ... With no industry effectively isolated, the relatively diversified economies of Eastern Canada are also expected to show modest output contractions this year, the Bank of Nova Scotia report said. (Globe and Mail -- Business)
Canadian Stocks Advance as Banks Rally on Hopes for Renewed Profitability Mar 17, 2009
Bank of Nova Scotia climbed 1 ... Bank of Nova Scotia added 50 cents to C$30. (Bloomberg -- Canada)
Alberta leads home price declines Mar 12, 2009
The Bank of Nova Scotia said in a research note that new home prices are down, year over year, for the first time since January, 1997, as builders try to burn off inventory. In fact, inventories are now at levels not seen since 1995 as housing demand retrenches, the Bank of Nova Scotia said. (Globe and Mail -- Business)
Scotia iTrade, watch those fees Mar 10, 2009
A timely example can be found in the online brokerage division of Bank of Nova Scotia, which bought E*Trade Canada last year and will today rebrand it as Scotia iTrade. The back story here is that Scotiabank's own online brokerage, ScotiaMcLeod Direct Investing (SMDI), has been one of the weakest of the bank-owned online brokers. (Globe and Mail -- Business)
Scotiabank invests in Cayman firm Mar 8, 2009
The Bank of Nova Scotia has expanded its presence in the Caribbean with the acquisition of a majority interest in Five Continents Financial Ltd., a global asset management company in the Cayman Islands, the bank said Friday. Scotiabank is always looking for strategic growth opportunities, said Dan Wright, senior vice-president of wealth management in the bank's international banking division. (Globe and Mail -- Business)
Bank of Nova Scotia Buys Five Continents Money Manager in Cayman Islands Mar 7, 2009
Bank of Nova Scotia Buys Five Continents Fund Company (Update1). By Sean B. Pasternak. (Bloomberg -- Canada)
CanWest wins extension of debt talks Feb 28, 2009
CanWest has drawn about $92-million from the credit line from Bank of Nova Scotia, and has not drawn further funds since the restriction was put in place. CanWest chief executive officer Leonard Asper has been meeting with banks and other possible investors to secure funding to help the company contend with its debt payments amid a deep downturn in the economy, which has battered ad revenue at its TV and newspaper properties. (Globe and Mail)
Home sales, prices to continue slide: economist Feb 26, 2009
TORONTO Homeowners should brace for another year of sliding real estate sales and prices across Canada, warns Bank of Nova Scotia senior economist Adrienne Warren ... Bank of Nova Scotia predicts 2009 home resales volume to drop up to 20 per cent, prices to fall 10 per cent on average. (Globe and Mail)
Confident TD sails past forecasts Feb 26, 2009
Rick Waugh, CEO of Bank of Nova Scotia, was in New York last night to accept a corporate social responsibility award from the Foreign Policy Association, and used the opportunity to boast about this country's financial institutions. He co-chairs a committee of the Institute of International Finance, an association that represents hundreds of banks around the world, which has been examining how the sector should respond to the financial crisis. (Globe and Mail -- Business)
Magna poised to ride out auto crisis Feb 25, 2009
Some Magna investors are worried about the massive losses at Magna Entertainment Corp. affecting the auto parts maker, Bank of Nova Scotia analyst David Tyerman said on the conference call. The racetrack and gambling company is controlled by MI Developments Inc., which owns the land under many of Magna's plants. (Globe and Mail)
CI profit plunges 72% Feb 25, 2009
Bank of Nova Scotia is CI's largest shareholder with nearly a 36-per-cent stake after agreeing last year to pay $2. 3-billion in cash and stock to insurer Sun Life Financial Inc. for its interest. (Globe and Mail -- Business)
The skinny on fees for tax-sheltered accounts Feb 24, 2009
One final note concerns E*Trade Canada and TradeFreedom, both of which are owned by Bank of Nova Scotia. Scotiabank will start combining these two operations with its own ScotiaMcLeod Direct Investing in March. (Globe and Mail -- Business)
As CanWest seeks credit, rivals target prized assets Feb 22, 2009
Mr. Asper met with possible investors this week in Toronto ahead of a key funding deadline next Friday on a senior credit facility that was cut back to $112-million this month from $300-million by Bank of Nova Scotia ... "We have said for more than a month that we are aggressively pursuing various options to reduce our operating and capital costs, restructure our operations and to improve efficiencies. "In early February, we said that we were reviewing our strategic alternatives and pursuing... (Globe and Mail)
Sun Life sells CI stake to Scotiabank for $2.3-billion Feb 21, 2009
Sun Life Financial Inc. agreed Monday to sell its 37 per cent stake in mutual fund giant CI Financial Income Fund to Bank of Nova Scotia for $2 ... Last month, CI's efforts to buy Bank of Nova Scotia's mutual fund arm fell flat. (Globe and Mail)
CanWest seeks financial saviour amid credit crisis Feb 21, 2009
CanWest's borrowing capacity was put on a tighter leash this month when a senior credit facility was cut back to $112-million from $300-million by Bank of Nova Scotia ... CanWest's lenders, led by the Bank of Nova Scotia, are reluctant to push the company into CCAA protection, but are pushing Mr. Asper for a plan that will see their loans repaid, banking sources say. (Globe and Mail)
After painful slide, commodities languish Feb 21, 2009
"When you're down at these kinds of [price] levels, the only part of the world where you can bring on new projects is the Middle East," said Patricia Mohr, commodity market specialist at Bank of Nova Scotia, who predicts that global oil production will actually fall this year. As a result of this supply slowdown, she said, "once we see some glimmer of hope on the global economy, you'll see prices come back quite quickly.". (Globe and Mail -- Business)
Low interest rate hampers an otherwise good idea Feb 19, 2009
A perfect example is Bank of Nova Scotia's Bank the Rest program, introduced last May as a way to help customers save more money ... Gillian Riley, senior vice-president of retail deposits and services at Bank of Nova Scotia, said the current rate on the Money Master account reflects a decline in the Bank of Canada's benchmark rate, and is competitive with similar accounts at other banks. (Globe and Mail -- Business)
Bank of Nova Scotia shares could hit C$36 in 2 yrs-Barron's Feb 10, 2009
Bank of Nova Scotia shares could hit C$36 in 2 yrs-Barron's. Sun Feb 8, 2009 3:35pm EST. (Reuters)
Canadian bank looking to Miami Feb 10, 2009
The Bank of Nova Scotia (NYSE: BNS) is a subsidiary of Toronto-based ... The federal application said Alan Jenkins, director of U.S. private banking international for the Bank of Nova Scotia, would manage the Miami agency ... The bank anticipates that the initial operations environment in Miami will be modest in scope and size, and will then gradually expand as the agency s business grows, the Bank of Nova Scotia stated in its federal application. (South Florida Business Journal, FL)
A Canadian Bank Plays It Safeand Smart Feb 8, 2009
Bank of Nova Scotia Plays It Safe and Smart - Barrons ... North of the border, however, there's a nice alternative: Toronto-based Bank of Nova Scotia (ticker: BNS.Canada), a big lender mostly free of the woes afflicting ... Bank of Nova Scotia largely avoided mistakes made by its U.S. peers. (Barron's)
Bank of Nova Scotia, Coalcorp, Toromont Industries: Canada Equity Preview Feb 8, 2009
Bank of Nova Scotia, Coalcorp, Toromont: Canada Equity Preview ... Bank of Nova Scotia fell 1. (Bloomberg -- Canada)
