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Under the plan, Loblaw’s broker is authorised to purchase EQB common shares within parameters set by Loblaw during windows when the company holds no material non-public information about EQB. From grocery giant to bank shareholder Loblaw received 7,237,601 EQB common shares and $234.5 million in cash on July 1, when EQB closed its $800 million…
EQB shares climbed $12.54 to $148.43 by mid-afternoon following Loblaw Companies Ltd.’s announcement of an automatic share purchase plan. The plan allows Loblaw’s broker to acquire additional EQB shares, potentially increasing the retailer’s holdings from about 8.46 million shares to as many as 10.6 million, subject to a cap of 24.9% of EQB’s outstanding shares….
Molo, the specialist lender, has appointed Lynne French as chief operations officer (COO) as its expansion of operations and distributions continues. French will be responsible for scaling Molo’s operational platform to support demand and maximising strategic partnerships with One Mortgage System (OMS) and LMS. French most recently served as director of secured lending operations…
Capital One’s projected credit card losses jumped in its first Federal Reserve’s stress test since acquiring Discover, highlighting the enlarged lender’s heavier exposure to unsecured consumer credit. Projected credit card losses at the bank reached $55.7 billion under the severely adverse scenario in the 2026 Dodd-Frank Act stress test (DFAST), up $20.7 billion, or 59%,…
Forward Financing, a provider of capital to small businesses across the United States, secured $525 million of new financing that brings the company’s total committed funding capacity to nearly $700 million. The new financing includes a $350 million variable funding note (VFN) facility and a $175 million asset-backed securitization (ABS), the company said in a…
Key insight: The organizers of a Utah de novo bank, Bank of St. George, say the regulatory approval process has been smooth. Travis Hill, chairman of the Federal Deposit Insurance Corp., has been trying to make it easier for new banks to open. Supporting data: Twenty-one groups have filed deposit-insurance applications since the start of…