The Daily Chase: CIBC reports earnings beat; Survey examines mortgage fraud in Canada - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 50%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

CIBC is kicking off Canadian bank earnings season with a beat, albeit a somewhat muted one.

Adjusted earnings per share came in at $1.94 , but it’s a somewhat muddy quarter, all things considered. Net income was down 77 per cent, mostly due to that previously-disclosed US$770 million provision tied to a settlement with Cerberus over an investment product that dates back to the financial crisis. To get back to the bread and butter, revenue at the Canadian personal and business banking unit rose 3.

Today marks the one-year anniversary of the Russian invasion of Ukraine, which has roiled energy and agricultural markets. Shares of Beyond Meat are rallying in the premarket – up about 12 per cent – after the company reported a smaller-than-expected loss in its latest quarter.Notable data: Ottawa’s Fiscal Monitor, U.S. Personal Income & Consumption, U.S. New Home Sales, University of Michigan Consumer Sentiment IndexG20 Finance Ministers and Central Bank Governors Meeting in Bengaluru, India

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CIBC kicks off bank earnings season with profit dropThe Canadian Imperial Bank of Commerce reported a drop in first\u002Dquarter profit as it set aside provisions to settle a lawsuit. Read more
Source: nationalpost - 🏆 10. / 80 Read more »