All articles tagged with #rbc
Originally Published 1 year ago — by Golfmagic.com
RBC is hesitant to renew its sponsorship of PGA Tour events due to uncertainties in men's professional golf, particularly the unresolved framework agreement between the PGA Tour and LIV Golf's backers, the Public Investment Fund of Saudi Arabia. This hesitation follows the departure of other major sponsors like Honda and Wells Fargo, raising concerns for PGA Tour officials.
Originally Published 1 year ago — by Banking Dive
Royal Bank of Canada fired CFO Nadine Ahn and treasury executive Ken Mason after discovering their undisclosed relationship led to preferential treatment, including promotions and compensation increases. The bank is now searching for a permanent CFO while its senior vice president of finance and controller, Katherine Gibson, serves as interim CFO. Ahn, who had been seen as a potential successor to RBC CEO Dave McKay, may not receive severance due to being terminated for cause.
Originally Published 2 years ago — by Al Jazeera English
Royal Bank of Canada (RBC) has warned of a softer economy ahead, citing slowing wage growth, lower job postings, and an increase in unemployment. As a result, RBC plans to cut approximately 1,800 jobs. Despite beating analysts' estimates for the third quarter, RBC's CEO, Dave McKay, forecasts slowing growth and lower inflation due to various factors including monetary policy, a slowdown in China, and climate and geopolitical risks. Meanwhile, Toronto-Dominion Bank (TD) missed analysts' estimates for quarterly profit due to higher expenses, rainy day funds, and weakness in its US business. Both banks have underperformed in the stock market this year.
Originally Published 2 years ago — by CNBC
According to RBC, individual investors' bearish sentiment towards the stock market is a contrarian buy signal that historically has led to a 15% gain. RBC's analysis shows that when individual investors are pessimistic, it's usually a good time to buy stocks.
Originally Published 2 years ago — by CNBC
RBC has downgraded a once-hot electric vehicle (EV) maker and slashed its price target by 50%. The move comes amid concerns about the company's ability to deliver on its promises and meet production targets. The news has had a negative impact on the company's stock market performance.