World Business Briefing: Canada: Bank of Montreal Expands
21121
The Bank of Montreal said it had agreed to buy two Wisconsin banks for $327.2 million to expand its Harris Bank unit in the Midwest. Bank of Montreal said it bought Ozaukee Bank for $190 million in stock, and Merchants and Manufacturers Bancorporation for $137.2 million in cash. Ozaukee has eight branches and Merchants has 45. Bank of Montreal, which is based in Toronto, has spent about 1.5 billion Canadian dollars ($1.4 billion) on banks in the United States since 2000 to expand the Harris Bank of Chicago, which it bought in 1984. Bank of Montreal bid $37.30 a share for Merchants, or 33 percent more than its closing share price on Monday. Merchants is based in New Berlin. Ozaukee, based in the Milwaukee area, is privately held.
459481
Swiss banking group UBS, the world's largest wealth manager, said on Monday it had strengthened its position in the United States by buying local rival Julius Baer's U.S. wealth-management business.
261799
Canada&#39;s bonds rose after Bank of Canada Governor David Dodge said the Canadian dollar&#39;s rise to a 12-year high may curb economic growth, indicating the bank may not raise interest rates next month.
614694
Canada&#39;s Toronto Dominion Bank (TD.TO: Quote, Profile, Research) said on Wednesday that it is in talks with US-based Banknorth Group (BNK.
290430
TORONTO -- TD Bank announced its foray into US retail banking on Thursday, a day after rival CIBC signalled its focus will be on domestic operations, demonstrating how far apart Canadian banks are on their American strategies.
184224
MONTREALâBombardier Inc. common stock jumped 10 per cent yesterday as the market reacted to news the transportation giant has been selected to share in a major railway project in China.
219324
Bank of Montreal kicked off earnings season for Canada&#39;s big banks on Tuesday with a 30-per-cent jump in profits driven by strong gains at both its retail and investment banking operations.
14527
Canadaâs fourth-largest bank cited turmoil in the credit markets, and said it would provide up to $13 billion in liquidity for two of its structured investment vehicles.
51564
Bank of Montreal  said on Wednesday it will cut about 1,000 jobs and take a C$135 million ($115 million) charge in the first quarter as it tries to rein in costs to help meet its 2007 financial targets, a move that took analysts by surprise.
549149
Canada's Toronto Dominion Bank TD.TO  said on Wednesday that it is in talks with U.S.-based Banknorth  Group BNK.N about a possible deal.
336191
NEW YORK -- Wal-Mart Stores Inc. , the world's largest retailer, plans to expand its financial-service centers more than fourfold to 1,000 stores by 2009 after abandoning an attempt to start a bank.
170306
TORONTO (CP) - Bank of Montreal and US subsidiary Harris Bank are paying $197.4 million for Indiana&#39;s 19-branch Mercantile Bank as they bolster their successful operations in the US Midwest.
764528
Toronto-Dominion Bank TD.TO made a  much-anticipated push into U.S. retail banking on Thursday,  announcing it would acquire a majority stake in Banknorth Group  Inc. BNK.N for $3.8 billion.
6353
Canada's Bank of Nova Scotia   BNS.TO confirmed on Friday it was looking out for   acquisitions in Malaysia but denied a report that it planned to   buy an indirect stake in the country's fourth-biggest lender.
665604
Toronto-Dominion Bank said that its profit rose 19 percent in the second quarter, helped by a strong performance in all business lines except its retail banking unit in the United States. Toronto-Dominion reported profit of 879 million Canadian dollars ($814 million), up from 738 million Canadian dollars a year ago. Revenue in the period, which ended April 30, rose to 3.5 billion Canadian dollars, from 3.1 billion Canadian dollars. In the United States, TD Banknorth, its New England retail bank, reported lower profit as job cuts and branch closings raised costs. Banknorth earned 23 million Canadian dollars in the quarter, down 61 percent.
224585
The Bank of Canada raised its overnight interest rate a quarter percentage point on Tuesday to 2.50 percent as expected, and made clear it would keep raising rates even as it lowered its forecast for Canadian growth.
552669
UBS continued to sweep up private banking assets yesterday with the purchase of the North America wealth management business of Julius Baer, the Swiss private bank.