CIBC Financial News

01.11 / 15:29

markets Platform security Citigroup Trade CIBC International CIBC hires Mizuho’s Rob Cicchetti in latest U.S. capital-markets push

Canadian Imperial Bank of Commerce hired three bankers, including Mizuho Securities veteran Rob Cicchetti, to build out its U.S. asset-backed securities business.

31.10 / 16:21

markets Citi Target Manufacturing economy CIBC track Bank of Canada could deliver bigger rate cut again amid signs economy stalled

The Canadian economy posted flat growth in August, Statistics Canada said Thursday, but there were signs of a rebound stirring in September.

14.10 / 15:56

Provident Action CIBC Diversity track cover TD reaches $70M class-action settlement on broker commissions, law firm says

TORONTO — Siskinds LLP says a $70.25 million class-action settlement has been reached with TD Asset Management over commissions paid to discount brokers.

07.10 / 17:29

markets UPS Citi Merit pandemic CIBC reports Posthaste: Toronto lags the world in returning to the office — and real estate feels the pain

Workers around the world have been trickling back to the office since the pandemic, but in Canada that trickle appears to be slower than most.

03.10 / 18:25

Provident Pool CIBC country reports CIBC mulls risk transfer transactions tied to $4.5 billion of corporate loans

Canadian Imperial Bank of Commerce is assessing investors’ interest in a significant risk transfer transaction that would be linked to corporate loans, according to people familiar with the matter.

02.10 / 18:07

markets UPS wellness CIBC cover reports Posthaste: These 3 charts bolster case for bigger Bank of Canada rate cuts, says economist

The chatter around the Bank of Canada supersizing its next cut has grown in volume ever since the United States started its interest rate trimming campaign with a jumbo reduction.

25.09 / 14:29

markets COST UPS Strategy CIBC reports Posthaste: Why CIBC thinks jumbo rate cuts are in the cards for the Bank of Canada

The Bank of Canada likely can’t afford to continue its current pace of interest rate cuts and will have to pick up the pace at some point as soft economic data continues to come in, according to analysts at CIBC Capital Markets.

24.09 / 15:39

SEC security Invesco WhatsApp CIBC electronic Investigations CIBC and two other firms pay millions to settle U.S. WhatsApp probes

U.S. regulators levied more than US$118 million in penalties against several financial firms for failing to keep employees’ electronic communications, the latest fallout from the so-called WhatsApp investigations.

20.09 / 18:37

COST UPS Trade CIBC stage Interest rate cuts mean time has come to buy discount bank stocks, says CIBC

Now is the time for equity investors to move out of premium-traded Canadian banks and into discounted banks, analysts at Canadian Imperial Bank of Commerce said, citing lower interest rates and easing of economic risks that give the cheaper stocks more earnings upside.

20.09 / 14:29

markets UPS Target economy CIBC show reports Posthaste: Bank of Canada can go bigger on rate cuts as Fed 'blows the door wide open'

The United States Federal Reserve made a big splash with Wednesday’s 50-basis-point interest rate cut, prompting some Canadian economists to believe the Bank of Canada could match the move when policymakers meet at the end of October.

16.09 / 09:01

markets Target Analysis CIBC Cycling show reports Here’s why economists expect ‘good news’ from the August inflation report

The Bank of Canada is set to get a fresh look at inflation figures this week as some economists expect another big step towards the central bank’s two per cent target.

05.09 / 18:14

markets Research Intuit pandemic CIBC performer rowing Posthaste: CIBC says the 'when' for Canadian dividend stocks is now

Change is in the air in Canada’s investment landscape, according to the Canadian Imperial Bank of Commerce.

05.09 / 17:59

markets Strategy Enterprise Nov President CIBC cover CIBC making changes to senior executive ranks

TORONTO — CIBC is making changes to its senior executive ranks in a move chief executive Victor Dodig says will broaden the opportunities for a number of the bank’s leaders.

30.08 / 22:32

economy wellness CIBC show track reports prevention Bigger Bank of Canada rate cut now on the table: What economists say about GDP

Canada’s gross domestic product for the second quarter came in stronger than expected, but the details of the GDP report and the accompanying outlook for the start of the next quarter hinted at a stalling economy, economists warned.

30.08 / 22:16

markets COST economy CIBC performer reports Big Six banks still face credit headwinds, but aren't heading for a ‘cliff,’ analysts say

Canada’s top banks may still be facing credit headwinds, but analysts say that the relatively stable earnings display in the last quarter suggests that they are not going to “fall off the cliff” anytime soon.

30.08 / 18:58

markets economy Trade CIBC show social Headlines Economy beats Bank of Canada forecast with 2.1% growth

The Canadian economy grew at a faster-than-expected annualized pace of 2.1 per cent in the second quarter of the year, but early indications point to a loss of momentum going into the third quarter.

29.08 / 15:18

markets UPS wellness CIBC reports CIBC beats analysts' expectations as it reports lower loan loss provisions

The Canadian Imperial Bank of Commerce beat analysts’ expectations and reported higher profits this quarter compared to last year as the bank set aside a lower amount of money for potential bad loans and posted gains in most of its business segments.

29.08 / 11:53

UPS CIBC reports CIBC’s Q3 profit rose as it set aside less money for bad loans

Canadian Imperial Bank of Commerce reported its third-quarter profit rose compared with a year ago as it set aside less money for bad loans.

15.08 / 18:11

markets Citi FIVE wellness trends CIBC reports The chance to make Toronto a global banking hub is being squandered

Reports that Canadian Imperial Bank of Commerce is on an artificial intelligence hiring spree, seeking to fill 200 well-paying positions , is a hopeful signal that the job-cutting trend at Canadian banks is slowing. For much of 2023, they were “restructuring.” Toronto-Dominion Bank planned to reduce its workforce by three per cent, as did Bank of Nova Scotia. CIBC said it would trim its full-time workforce by five per cent. Royal Bank of Canada job cuts were about half that and over at Bank of Montreal, three per cent of its capital markets workforce was let go last summer.

15.08 / 16:52