RBC Capital Markets

RBC Capital Markets News

• Centrica Said Among Bidders for Ireland’s Bord Gais Energy Unit

  Centrica Plc, the U.K’s largest home power company, and Tenaga Nasional Bhd, Malaysia’s biggest energy group, filed bids for the retail and power generation unit of state-owned gas company Bord Gais Eireann, people with knowledge of the matter said.

• RBC Seeks Wealth-Management Deals Up to $5 Billion, CFO Says

  Royal Bank of Canada, the country’s largest lender by assets, will consider acquisitions of as much as C$5 billion ($4.9 billion) as it seeks to expand its wealth- management unit, Chief Financial Officer Janice Fukakusa said.

• Most Withdrawals of ’13 Ignore History of July Gain: Muni Credit

  Mutual-fund investors pulling the most funds since December from the $3.7 trillion municipal market are creating an opportunity for buyers of individual local bonds as tax-exempt yields reach a 15-month high.

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  Lululemon Facing Downward as Troubles Mount on Day Exit

  When Lululemon Athletica Inc. announced yesterday that Chief Executive Officer Christine Day was leaving the company, investors bolted.

• Local Debt Beating Treasuries for Longest Since ’06: Muni Credit

  The $3.7 trillion municipal market is at risk of ending its longest streak of gains in 20 years. It’s still winning when compared with other fixed-income assets.

• Iron Mountain, Equinix Fall as IRS Scrutinizes REIT Plans

  Iron Mountain Inc. and Equinix Inc., two technology companies planning to convert to real estate investment trusts, plunged after saying that the U.S. Internal Revenue Service is scrutinizing their eligibility.

• BMO Promotes Begy, Front Street Hires Brown: Vlaad

  Bank of Nova Scotia promoted Brian Porter to chief executive officer from president as current CEO Richard Waugh retires, according to Vlaad and Co., a Toronto- based financial services recruiting firm.

• IBM Wins Protest of $600 Million CIA Contract With Amazon

  International Business Machines Corp. successfully protested the Central Intelligence Agency’s $600 million contract award to Amazon.com Inc. for cloud-computing services.

• Canadian Stocks Retreat for Fifth Day, Erasing This Year’s Gain

  Canadian stocks fell for a fifth day, erasing gains for the year, as Canadian Western Bank reported lower-than-estimated profit and signs of weakening growth in China and Germany spurred losses in commodity producers.

• Canadian Western Falls as Bank Misses Estimates: Edmonton Mover

  Canadian Western Bank fell the most in three months after posting second-quarter profit that missed analysts’ estimates on higher expenses and tighter lending margins.

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