Heavyweights in Merger Dance
Why an E*Trade, TD Waterhouse Merger Will Work
Rare is the merger that works for investors, writes Vox columnist Derek DeCloet.
"Executive egos collide, financial projections don't pan out, the price turns
out to have been too rich. A hundred things can go wrong, and that's why the
rule of thumb is that 70 per cent fail."
there's a good chance the merger of discount broker E*Trade Financial with the
U.S. unit of TD Waterhouse will succeed." Read DeCloet's analysis.
TD Sees E*Trade Boosting Business in U.S.
U.S. Banks Strike $57-Billion Mega-Deal
BC to Permit Investors to Buy U.S.-made Funds
Fund Fees: It's Time Investors Enjoyed the Perks of Free Trade, Too
The British Columbia government is expected to introduce a bill, possibly this
spring, to overhaul investment rules in the province. The bill will make it
legal for U.S. fund companies to sell their products in B.C. without going
through the red tape (and cost) of registering them with the local securities
commission. Read Derek DeCloet's full report.
Pension Funds Want Tougher Trusts Policy
Pension administrators are calling on regulators to tighten disclosure
requirements for Canada's growing income trust industry. Meanwhile, industry
players balk at the proposal, saying that it treats the trust industry
differently from other corporate issuers. Read Elizabeth Church and Karen
SPECIAL REPORT: Focus on
Firms Gung-Ho On Board Reforms
A survey of more than 300 Canadian companies shows that corporate governance
is among the major changes at many firms. Among the changes are increased
voluntary disclosure by companies. Read Janet McFarland's report.
Governance Found Good for Funds
A new study had found that U.S. fund managers who invest in companies with
high corporate governance scores tended to produce higher returns than
competitors who invest in companies with lower governance ratings. The study
examined returns over three- and 5-year periods. Read Janet McFarland's
Take Skeptical Stance
Poll Shows Lack of Trust, Respect for Mutual Fund Industry
A survey of some 2,000 relatively sophisticated investors on the
globeinvestor.com Web site reveals that 58% believe that Canadian fund
companies are guilty of allowing or committing trading abuses that negatively
Quite alarming given that "There's been no indication that Canadian fund
companies are guilty of the same abuses as some of their U.S. counterparts,"
writes Rob Carrick. Read his analysis and view actual poll results.
Fund Industry Should Solve Image Problem
SEC Casts Drastically Wider Net in Mutual Fund Probe
Delving ever deeper, the top U.S. securities watchdog has expanded its probe
of the $7-trillion (U.S.) mutual fund business after discovering that leading
Wall Street brokers routinely pocket lucrative fees to tout select funds to
clients. Read more on the U.S. fund scandal.
Employment Up, Rates Heading Down
Don't Doubt: Central Bank Will Cut Rates
The Street is evenly divided on whether or not the Bank of Canada will cut its
benchmark interest rate next week. So which half of the Street is wrong? The
Globe's Economics reporter Bruce Little writes: "Let's go out on a limb here.
The bank will cut. The most compelling reason to think that is simple: The
Bank of Canada has told us it will." Read Bruce Little’s analysis.