|Bid||0.00 x 200|
|Ask||92.43 x 1000|
|Day's Range||86.46 - 87.15|
|52 Week Range||84.88 - 100.01|
|Beta (3Y Monthly)||1.23|
|PE Ratio (TTM)||10.10|
|Forward Dividend & Yield||4.15 (4.82%)|
|1y Target Est||98.31|
The Ontario Superior Court of Justice has recently moved to take custody of a large sum of assets from a crypto exchange currently frozen in accounts at the Canadian Imperial Bank of Commerce (CIBC).According to a recent court document, the CIBC had frozen several accounts of some disputed assets at the crypto exchange QuadrigaCX, including $25.7 million CAD and $69,000 USD. The bank was allegedly unable to identify who the exact owner of these accounts was along with millions that were deposited by the exchange’s various clients, so it froze them indefinitely.This has prompted legal action on behalf of QuadrigaCX which has been trying to reclaim the money that they claimed entitlement to.With such large sums in limbo, many of this exchange’s customers have been unable to access their money at all, leaving the company’s day-to-day ability to function in jeopardy. Emails sent from representatives of QuadrigaCX to CIBC were submitted as evidence to the court, including concerns that the exchange was “under extreme pressure from many clients to address this ASAP” and that “lawsuits are being filed against us.”However, the court has evidently decided to take neither party’s side in this juncture. Judge Glenn Hainey has instead ruled that CIBC transfer custody and liability of these frozen assets to the courts themselves, so that they may more thoroughly inspect them to determine their specific ownership.Even a ruling in QuadrigaCX’s favor could still spell trouble for the exchange, however. According to the court documents, it was CIBC that originally made the application to make the court the final authority on these funds’ ownership, and the court specifically decided to grant CIBC’s request. The exchange may eventually see its funds returned, but Judge Hainey stated, “I am not in a position on this record to make any determination as to CIBC’s possible liability for [freezing the accounts].” Without some sort of damages paid to QuadrigaCX for the inconvenience of losing access to $26 million dollars, the lawsuits filed from the exchange’s depositors may prove a problem down the road. This article originally appeared on Bitcoin Magazine.
Moody's has reviewed the following ABCP programs in conjunction with the proposed addition and amendments. At this time the addition and amendments, in and of themselves, will not result in any rating impact on the respective programs' ABCP. Moody's does not believe they will have an adverse effect on the credit quality of the securities such that the Moody's rating is impacted.
Before and after legalization, the buzz surrounding Canadian stocks to buy that are associated with the cannabis industry has been electric. American investors, for probably the first time in the history of Canada, are hot after the next great Canadian stock to buy. Now, as more of the Canadian cannabis companies get listed on U.S. exchanges, financial advisors on both sides of the border could soon be exhibiting symptoms of FOMO (fear of missing out).
TORONTO , Oct. 31, 2018 /CNW/ - CIBC (CM.TO) (CM) and the Greater Toronto Airports Authority (GTAA) are partnering on new infrastructure and service enhancements to ensure that the 47.1 million travellers who pass through Canada's largest airport annually can access modern banking services while on their journey. Under a new multi-year agreement, CIBC is expanding its footprint at the airport to include a new banking centre, which will provide passengers a total of six CIBC banking centres throughout Toronto Pearson International Airport from which to choose. CIBC is also working to deploy a team of Mobile Financial Service Specialists to bring banking directly to passengers and employees throughout the airport.
TORONTO , Oct. 23, 2018 /CNW/ - CIBC (CM:TSX) (CM:NYSE) – When it comes to managing money, kids are starting about two years earlier than their parents did, finds a new CIBC poll. According to the poll, parents say that their kids open a bank account, get an allowance, manage their own money, get a credit card and become aware of their parents financial situation about two years earlier on average than they did. "It's encouraging that parents are getting their kids on the right track early on, but setting your kids up for financial success is more than just opening a bank account and giving them money to manage on their own," says David Nicholson , Vice-President, CIBC Imperial Service.
TORONTO , Oct. 22, 2018 /CNW/ - CIBC -- (CM.TO) (NYSE: CM) -- Almost half of all Canadians (49%) are planning to travel for vacation in the next 12 months but many find parts of the experience stressful or are left wanting more, according to a CIBC survey. Other factors weighing on Canadians' travel experience according to the survey include the theft or loss of money and credit cards, which they cite among their top concerns.
TORONTO , Oct. 18, 2018 /CNW/ - Time is running out for Canadian business owners with over $50,000 of investment income in their corporations to avoid losing the small business deduction under new corporate tax rules taking effect in 2019, warns Jamie Golombek in a new CIBC (CM.TO) (CM) report. "If you're a business owner and haven't considered the tax implications of the new passive income rules, the time to act is now," says Jamie Golombek , Managing Director, Tax and Estate Planning, CIBC Financial Planning and Advice.
Moody's Investors Service ("Moody's") today assigned a (P)A2 long-term junior senior unsecured program rating and a (P)Prime-1 short-term program rating to Canadian Imperial Bank of Commerce (CIBC), Australia Branch's AUD5 billion medium-term note (MTN) program. In the same rating action, Moody's also assigned an Aa2 long-term senior unsecured rating with stable outlook to the AUD200 million senior unsecured floating rate notes, which the bank issued on September 19, 2018.
TORONTO , Oct. 1, 2018 /CNW/ - 15,000 CIBC (CM.TO) (CM) employees, families and friends hit the streets yesterday alongside Canadians across the country in support of the 27th annual Canadian Cancer Society CIBC Run for the Cure. CIBC raised an estimated $3 million to help advance breast cancer research, education and support programs. For Team CIBC, giving back is personal and it comes from the heart.
Moody's Investors Service ("Moody's") today took various rating actions related to the Implementation Date for the new Canadian bank resolution rules on September 23, 2018. Moody's affirmed the ...
There is a lot to be liked about Canadian Imperial Bank of Commerce (TSE:CM) as an income stock. It has paid dividends over the past 10 years. The company currentlyRead More...
Media Advisory - Over 60 leading Canadian companies to present at CIBC's Eastern Institutional Investor Conference
DENVER , Sept. 19, 2018 /PRNewswire/ - CIBC (NYSE: CM) (TSX: CM) today announced that the index rebalance following close of business on September 21, 2018 will result in changes to the CIBC Atlas Clean ...
Media Advisory - CIBC's Victor Dodig to Speak at the CIBC 17th Annual Eastern Institutional Investor Conference
Canadian Imperial Bank of Commerce broke ground with that nation’s first bond sale that will advance gender diversity in the corporate world. The bank on Wednesday sold C$1 billion ($769 million) of three-year deposit notes, which will support lending to companies committed to promoting women to executive positions. “The framework we have created could work for any issuer, any bank, and by no means will we keep that quiet,” Susan Rimmer, a managing director and head of global corporate banking for CIBC Capital Markets, said in an interview.
Victor Dodig, Canadian Imperial Bank of Commerce chief executive officer, discusses the bank's U.S. expansion plans and financial regulation with Bloomberg's Amanda Lang on "Bloomberg Markets." ...
Media Advisory - CIBC's Laura Dottori-Attanasio and Christina Kramer to speak at the 2018 Barclays Global Financial Services Conference