Market movers: Stocks seeing action on Tuesday

) rose on Tuesday after it reported lower fiscal third-quarter profit as it set aside more money to cover future losses on loans, with customers in Canada and Latin America feeling the strain from higher interest rates.

The bank’s provisions for impaired loans, which are already past due, jumped 31 per cent higher to $970-million, as more borrowers fell behind on payments. Many of those customers were in three of Scotiabank’s key markets in Latin America: Colombia, Chile and Peru. Provisions also increased for Canadian banking clients, mostly on car loans as well as credit card balances.

Chinese consumers have been shy to spend in the face of a macroeconomic slowdown, an extended property slump and employment security concerns, prompting JD.Com to offer regular discounts and promotions. BMO purchased U.S. regional lender Bank of the West for $16.3-billion last year, giving it exposure to nearly 2 million customers, about 500 retail branches and commercial and wealth offices across the midwest and western United States.

BMO, Canada’s third-largest lender, said provision for credit losses jumped to $906-million in the third quarter, from $492-million a year earlier. Analysts were expecting $734-million, according to LSEG data. Mr. Parekh, who has been with Apple for more than a decade and will join the company’s executive committee, most recently served as vice president of financial planning and analysis.

“While there may have been differences, we believe that everyone involved in the sale process is united in the belief that Paramount’s best days are ahead,” he said. Shari Redstone’s National Amusements has owned more than three-quarters of Paramount’s Class A voting shares through the estate of her late father, Sumner Redstone.

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