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

Toronto-based investment management company Brookfield Asset Management Ltd. has moved its head office to New York in a bid to broaden its investor base to include passive institutional investors that collectively manage trillions of dollars.

Growth in the Canadian economy remained unchanged in August, putting gross domestic product on track to grow at an annualized rate of just one per cent in the third quarter, Statistics Canada said on Thursday, paving the way for another cut by the Bank of Canada in December.

TORONTO — The Canadian dollar is trading against the U.S. dollar at levels not seen since 2020 as the combined pressures of economic outlooks, elections, and energy prices weigh. Here’s what you need to know.

Subscribe to enjoy similar stories. Like its big tech rivals, Amazon.com is spending a king’s ransom on artificial intelligence. Unlike them, it also has plenty of customers dropping money on toothpaste and razorblades.

Subscribe to enjoy similar stories. As much as Donald Trump says that he wants the U.S. dollar to weaken, Wall Street keeps betting that his presidency would deliver the opposite.

Indian indices have fallen 7-8% in the last month, wherein US indices have inched up 1-2% and the rest of world, including China, being stable. This could be due to two reasons a) The Chinese stimulus package announced in September to revise their real estate and stock markets b) Weaker than expected earnings results for India Inc. in Q2F2025 so far. FII outflow at over US$ 10 billion has been unprecedented, probably moving into China. The India Earnings growth story has been delayed but not derailed and it is just a matter of time. The themes we would like to be invested in the current environment are largely domestic facing sectors like the capex-related power sector against global, especially since we are having strong economic tailwinds and global headwinds for slowdown in growth. In the global facing sector, we would like to be invested in India’s outsourcing stories like pharmaceuticals.

Muhurat trading is traditionally held on the evening of Diwali, symbolizing new beginnings and prosperity. Investors treat this day as an opportunity to make fresh investments, believing that trades made during this auspicious hour will yield fruitful returns throughout the year. The atmosphere is charged with optimism as traders engage in buying stocks, often driven by sentiment rather than mere financial analysis. Notably, the Sensex has closed positively in 8 of the last 10 years on this day, enhancing its reputation for bringing good fortune for investors. The Sensex has experienced substantial growth over the last ten years. From a value of approximately 26,850 points in 2014, it surged to an all-time high of about 85,978 points in September 2024. This impressive trajectory reflects an average annual growth rate that has consistently attracted both domestic and foreign investors. The index's performance is not just a reflection of market trends but also indicative of India's economic resilience and growth potential.

Chakri Lokapriya, Managing Partner, RSB LLP, says he is not too hot on pharma as a sector. It is still a very stock-specific approach. So, maybe Piramal or mostly Cipla. It has various overhangs, including FDA approval and that would probably add about 10% to EPS. Even after today's run, the stock has another 15% upside over the next 12 months. Outside of that, Mankind Pharma, from a consumer uptake perspective, still looks okay. The word on the Street is that perhaps Diwali discounting is at play when it comes to the stock markets. Are you utilising that, buying anything at lower levels? Chakri Lokapriya: One should clearly buy IT in market fall because Wednesday’s fall in the US was on the fears of a slowdown of Facebook and Microsoft. But why did they slow down? They said that they would spend a lot on IT infrastructure. Now, that is good news for Indian IT companies and therefore, in today’s fall we should go and buy HCL Tech, Mphasis, all those companies which cater to the BFSI industry.

Global stocks slid Thursday as investors fretted over results from tech giants and remained risk-averse ahead of a coin-toss US election. Data showing the US Federal Reserve's preferred inflation measure cooled further last month — and now sits just above its long-term target — failed to boost sentiment, despite being a positive sign for future interest-rate cuts.

Market expert Neeraj Dewan has a target of Rs 975 for DLF for one year and says it is a stock for portfolio. One can rides it for a longer term also. BCL can be a high-risk rocket. With the margin improvement and the quality of business improving, Dewan’s one-year target for BCL is Rs 80 and he thinks in the next two-three years, BCL may continue to improve as far as the top-line and the bottom-line is concerned because of value addition. Textile stock Siyaram Silk Mills Limited is a great value bomb. It is available at a very reasonable valuation. Dewan has a target of Rs 525 for one year for the stock.

software companies and continued selling by foreign institutions led to Indian stock markets ending lower Thursday, the last day of the traditional Hindu year of Samvat. The BSE Sensex fell 553 points, or 0.69%, to close at 79,389, while the National Stock Exchange’s Nifty50 declined 135.5 points, or 0.56%, to 24,205.35. The Nifty50 fell more than 6% in October — the sharpest drop in a month for four-and-a-half years — as weaker-than-estimated earnings by companies in the quarter ended September 30 raised questions about the pace of the recent run-up in the market.

A jury has ordered Bell Helicopter to pay $16 million to a California company in a case about confidential business information

Amazon reported a boost in its quarterly profits Thursday and exceeded revenue estimates

A Paris commercial court has lifted a ban that had prevented Israeli defense companies from exhibiting weapons used by its military in the Mideast conflicts in Gaza and Lebanon at the upcoming Euronaval trade show

According to data from MarketWatch, Microsoft's shares were down 3.8% in pre-market trading at the time of reporting on Thursday (31 October). Meta's stock also took a blow, with its shares 2.7% lower in pre-market trading. In addition, the S&P 500 futures index, which indicates the likely direction of the US stock market, was down by 0.3% at the time of reporting, while the S&P 500, which represents the actual value of the stocks included in the index, also saw a decline of 0.3%. Meanwhile, the Nasdaq Composite was 0.5% lower than a day earlier. BlackRock and Microsoft partner ...

California is partnering with a major airline trade group to increase the availability of sustainable aviation fuels in the state

gross bookings below Wall Street estimates, sending its shares down nearly 8%. Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and fell short of analysts' forecasts.

foreign outflows and weak corporate earnings dampened investor sentiment. The NSE Nifty 50 declined by 0.56% to close at 24,205, while the BSE Sensex dropped 0.69% to 79,389. Both benchmarks lost around 6% in October, their steepest monthly drop since March 2020, when COVID-19 lockdowns triggered a sharp global market selloff.

Tata Investment Corporation on Thursday reported its September quarter net profit at Rs 124 crore which was flat over the corresponding quarter of the previous financial year. However, on a sequential basis, the profit after tax (PAT) fell by nearly 6% versus Rs 131 crore posted by the Tata Group NBFC in Q1FY25. Total revenue from operations stood at Rs 142.48 crore, which was 15% higher over Rs 123.86 crore reported by the company in the corresponding quarter of the previous financial year. It was flat on a sequential basis as the company's April-June quarter revenue stood at Rs 142.46 crore.

Shares of Bandhan Bank Ltd.(up 2.63 per cent), Au Small Finance Bank Ltd.(up 0.51 per cent), Federal Bank Ltd.(up 0.33 per cent) and HDFC Bank Ltd.(up 0.07 per cent) ended the day as top gainers in the pack.