Canadian life insurance stocks led by Manulife Financial Corp. are outperforming banks by the most in more than two decades as they gain from business abroad while lenders face slower consumer borrowing.
The Canadian dollar rose against the majority of its most traded peers as new-home construction increased at the fastest pace in more than a year in May, adding to evidence the housing market is regaining momentum.
Michael McClintock, a Harvard Business School graduate who built a 30-year career advising financial institutions, most recently as a senior managing director in New York for Macquarie Group Ltd., Australia’s biggest investment bank, has died. He was 55.
Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein said his company is committed to growing in China even after it ended a seven-year investment in Industrial & Commercial Bank of China Ltd.
DBS Group Holdings Ltd. got approval from Indonesia’s central bank to acquire a $2.75 billion stake in PT Bank Danamon Indonesia, giving Southeast Asia’s largest lender less control than it had sought.
Salesforce.com Inc., the largest maker of online customer-management tools, forecast profit for the fiscal second quarter that missed some analysts’ estimates as companies curtail spending on new business software.