The Daily Chase: BMO, Scotiabank deliver big profit beats; Powell testifies VIDEO SIGN OUT
Bank of Montreal and Bank of Nova Scotia opened earnings season today with two big profit beats. A common denominator is substantially improved credit quality, as both banks set aside far less cash for loans that could go bad. Divergence, however, is clear outside of Canada as BMO benefitted from substantial profit growth in its U.S. operations, while Scotia was held back by a sharp drop in its international operations. Paul Bagnell is going through all the details for us, and weâre looking forward to having Scotia CEO Brian Porter join Jon Erlichman on The Open at 9:40 a.m.
The Daily Chase: Boeing s 777 under the microscope; bank earnings ahead bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Exxon defends dividend after first annual loss in decades
Kevin Crowley, Bloomberg News VIDEO SIGN OUT
Exxon Mobil Corp. pledged to safeguard its mammoth dividend after posting its first annual loss in at least 40 years, a show of defiance by an oil driller besieged by activist investors, lawmakers and climate-change campaigners.
Exxon assured investors of its financial health in a world of US$50-a-barrel oil and promised that if crude were to dip to US$45 it would sacrifice spending in the name of dividends. The Western worldâs largest oil explorer has so far avoided the sort of payout cuts adopted by rivals Royal Dutch Shell Plc and BP Plc.