Updated Friday, November 28, 2014 as of 1:01 PM ET
RBC to Shut Caribbean Wealth Management Business, Cutting Jobs
Royal Bank of Canada is exiting wealth management in the Caribbean, extending a retreat in its international wealth business that began last year in Latin America.
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The Internal Revenue Service issued two items of guidance Wednesday in response to the need for charitable and other relief due to the Ebola outbreak in West Africa. more »
Despite a decrease in profit in its wealth management division, Credit Suisse Group, Switzerland’s second-biggest bank, reported third-quarter profit that beat analysts' estimates as revenue from trading fixed- income products soared. more »
The global economy faces its biggest test of confidence since the European sovereign debt crisis as investors fear it’s running out of engines. more »
Investors betting on a rebound in Russian stocks are piling into the benchmark exchange-traded fund for the market at the fastest pace in six months. more »
Gold investors saw their precious metal struggle last year after hitting an all-time high in 2011—today many advisors remain bearish. more »
Commodities fell to the lowest level in more than five years on signs demand growth is weakening in China, the biggest consumer of energy and metals, and on speculation U.S. borrowing costs may rise next year. more »
Treasuries are the world’s worst- performing bonds this quarter amid concern investors are underestimating risk the Federal Reserve will raise borrowing costs next year. more »
Credit Suisse Group added private banking to its operations in Toronto as the lender seeks to win business from Canada’s wealthiest individuals. more »
When it comes to predicting where U.S. borrowing costs are headed, the bond market isn't taking Wall Street’s advice seriously. more »
Royal Bank of Canada, the first Canadian lender to report third-quarter results, said profit rose 4% to a record, led by investment banking, and boosted its dividend by almost 6%. more »
Emerging-market stocks headed for the biggest weekly jump since March on speculation China will take steps to support the economy and as Russia pledged to de- escalate the conflict in Ukraine. Malaysia’s ringgit rose. more »
The 1% is literally rich beyond measure, depriving nations of billions in tax revenue and obscuring shifts in global inequality. more »
UBS is facing more than $600 million in damage claims filed by Puerto Rico investors in closed-end bond funds, the bank said in its second quarter earnings report Tuesday. more »
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