TD.TO - The Toronto-Dominion Bank

Toronto - Toronto Delayed Price. Currency in CAD
76.77
-0.23 (-0.30%)
At close: 4:00PM EDT
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Previous Close77.00
Open77.25
Bid76.77 x 0
Ask76.85 x 0
Day's Range76.77 - 77.54
52 Week Range65.56 - 80.05
Volume2,748,592
Avg. Volume2,924,896
Market Cap140.442B
Beta (3Y Monthly)1.07
PE Ratio (TTM)12.38
EPS (TTM)6.20
Earnings DateAug 29, 2019
Forward Dividend & Yield2.96 (3.84%)
Ex-Dividend Date2019-07-09
1y Target Est83.93
  • CNW Group3 days ago

    TD Announces Results of Conversion Privilege of Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3 (NVCC)

    TD Announces Results of Conversion Privilege of Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3 (NVCC)

  • CNW Group3 days ago

    TD Asset Management Inc. announces changes to its investment fund line-up

    TORONTO , July 18, 2019 /CNW/ - TD Asset Management Inc. ("TDAM"), the manager of TD Mutual Funds and TD Managed Assets Program portfolios, today announced changes to certain investment funds. The changes include fund mergers, investment objectives and risk rating updates and other changes as described below.

  • CNW Group3 days ago

    TD Asset Management Inc. Announces TD ETF Distributions

    TD Asset Management Inc. Announces TD ETF Distributions

  • Kamala Harris Raises Nearly $12 Million in 2Q: Campaign Update
    Bloomberg5 days ago

    Kamala Harris Raises Nearly $12 Million in 2Q: Campaign Update

    (Bloomberg) -- California Senator Kamala Harris raised $11.8 million in the second quarter, putting her fifth in fundraising among 2020 Democratic presidential candidates who filed campaign finance reports with the Federal Election Commission on Monday.Harris reported that 45 percent of her contributions came from low-dollar donors of $200 or less, and she spent $7.4 million during the quarter, leaving her $13.3 million cash on hand as of the end of June, according to her filing.South Bend, Indiana, Mayor Pete Buttigieg is the surprise leader with $24.9 million after beginning his campaign with little name recognition, followed by former Vice President Joe Biden, Massachusetts Senator Elizabeth Warren and Vermont Senator Bernie Sanders.The California senator’s campaign said it had raised $2 million after her appearance in the Democratic debate on June 27, when she challenged Biden over his record on school desegregation as a Delaware senator in the 1970s. Her campaign said she raised $3.2 million in the final three days of the quarter.Biden’s Fundraising Haul Trails Only Buttigieg’sFormer Vice President Joe Biden raised $22 million in his first two months in the 2020 Democratic presidential race, lagging the $24.9 million in second-quarter fundraising reported by upstart South Bend, Indiana Mayor Peter Buttigieg.Biden’s report with the Federal Election Commission showed that 38% of his contributions came from small-dollar donors of $200 or less. The frontrunner raised more money per day than any rival, his campaign said when it announced his fundraising numbers July 3. He spent about half of his contributions -- leaving him with $10.9 million cash on hand at the end of June, according to his FEC report.Biden, who kicked off his campaign on April 25, didn’t take any contributions toward the general election -- which campaigns can accept and hold in reserve, according to his campaign. He also reported contribution refunds of more than $540,000.Big Donors Help Fuel Trump Second-Quarter Fundraising SurgePresident Donald Trump’s campaign and joint fundraising committees reported raising a total of $68 million in the second quarter, and ended June with $80.2 million in the bank, as bigger donations began to supplant Trump’s small-dollar support, according to their filings with the Federal Election Commission.Grassroots donors, those contributing $200 or less, supplied 35% of Trump’s haul, down from 56% in January-March. Small-dollar donations totaled $23.7 million to the three committees, with the bulk, $19.5 million, received by Trump Make America Great Again Committee, which benefits the president’s campaign and the Republican party.The $108 million figure reported earlier Monday included money raised by the Republican National Committee, which doesn’t report its fundraising to the FEC until Saturday.Trump Victory, which focuses on big donors, raised $29.1 million, just shy of $30.2 million Trump MAGA tallied. Joseph Nakash, chief executive officer and co-founder of Jordache Enterprises, donated $250,000, the biggest political contribution he’s made and his first to Trump. Billionaire Phil Ruffin gave $255,200 while his wife, Oleksandra Nikolyenko-Ruffin, gave $244,800. Marvel Entertainment chairman Isaac Perlmutter and his wife, Laura, each gave $360,000.Longtime GOP donors supported Trump as well. Roofing supply billionaire Diane Hendricks gave $360,000 as did Marlene Ricketts, wife of TD Ameritrade founder Joe Ricketts. Trump’s first pick to head the Small Business Administration, Linda McMahon, gave the same amount, as did Robert “Woody” Johnson IV, the current U.S. ambassador to the U.K.Some of that money was earmarked for the Republican National Committee. The RNC announced it raised $51.3 million.Buttigieg Money Haul in Second Quarter Tops Democratic RivalsPete Buttigieg raised $24.9 million in the second quarter, the most of any candidate who has announced fund-raising totals for the period, and had $22.7 million cash on hand as of June 30 to cement his status as a top-tier 2020 Democratic presidential candidate.The fundraising haul more than tripled the amount the mayor of South Bend, Indiana, raised in the first quarter, in which he reported $7.4 million in campaign donations, according to his finance report filed Monday with the Federal Election Commission.Buttigieg’s campaign held 70 fundraisers in the second quarter, most of which focused on high-dollar donors. But he also staged events catered to grassroots supporters and generated 44 percent of his total contributions from small-dollar donors of $200 or less, according to his reportHollywood Women Donate to Warren Who Swears Off Big DonorsElizabeth Warren is attracting a host of big names in Hollywood -- even though she swore off taking money from big donors.Entertainers Jane Fonda, Scarlett Johanssen, Bette Midler and Barbra Streisandeach gave the Massachusetts senator $2,800 -- the maximum amount a donor can give to a primary campaign. Comedian Amy Schumer gave $5,600, including an additional $2,800 for the general election, should Warren win the nomination. Prolific Democratic bundler Jeffrey Katzenberg of Dreamworks Animation and his wife Marilyn Katzenberg each gave Warren got $2,800 checks.Still, small-dollar donors, those giving $200 or less, fueled 67% of Warren’s fundraising. That was just behind Vermont Senator Bernie Sanders, who got 70% of his haul from grassroots donors in the second quarter.Beto O’Rourke’s Fundraising Collapses as Poll Numbers RecedeFormer Texas Representative Beto O’Rourke’s fundraising dwindled to $3.6 million in the second quarter from $9.4 million in the early days of his presidential run, his campaign said, when he seemed like a rising star.Unlike other top 2020 Democratic presidential contenders, O’Rourke waited until Monday’s filing deadline to disclose his figures -- fueling speculation that the numbers wouldn’t be good. South Bend, Indiana, Mayor Pete Buttigieg and former Vice President Joe Biden reported early second-quarter fundraising totals of $24.8 million and $21.5 million, respectively.O’Rourke’s campaign said he received 119,888 donations with an average contribution of $30. He has met the 130,000 unique donor requirement for the fall primary debates set by the Democratic National Committee. However, his poll numbers dropped before and after a shaky performance in the June 26 debate and stand at less than 3% in recent surveys compiled by RealClearPolitics.Sanders’ Money Haul Slips in June, Claims He Has ‘More People’Senator Bernie Sanders had $27.3 million cash on hand at the end of June after raising $18 million for his Democratic presidential bid in the second quarter, slipping to fourth place from his perch as the biggest fund raiser among the 2020 contenders, according to totals the candidates have announced and campaign reports.The Vermont senator got almost 70 percent of his contributions from small-dollar donors of $200 or less, according to his report filed Monday with the Federal Election Commission, and almost all of the contributors gave $100 or less, his campaign said. Sanders also transferred $6 million from other accounts during the period.Sanders’s total roughly matched what he took in between January 1 and March 31, which had him leading the pack of Democratic candidates then in the race. But this time he’s trailing Pete Buttigieg, the mayor of South Bend, Indiana, former Vice President Joe Biden and Massachusetts Senator Elizabeth Warren.Sanders’s campaign sought Monday to differentiate his fundraising from that of his rivals, saying in an email to supporters that he’s backed by contributors that are teachers, students and workers at Walmart, while other Democrats are being funded by pharmaceutical executives, lobbyists, hedge-fund managers and “many of the people we are fighting against.”“The truth is, those folks out-raised us by a bit this time around,” the campaign said in the email. “But there’s a limit to the number of rich folks out there who can give large donations to beat us. They may have the big checks, but we have more people.”Warren’s Second Quarter Fundraising Puts Her in Third PlaceElizabeth Warren raised $19.1 million in the second quarter, putting her in third place behind Pete Buttigieg and Joe Biden among 2020 Democratic presidential candidates, according to totals the candidates have announced and campaign reports filed so far.Warren, who spent $10.5 million in the quarter, still had $19.8 million cash on hand as of June 30. Warren’s second-quarter funds came from 384,000 people, 67% of whom were small-dollar donors of $200 or less, according to her campaign and filing with the Federal Election Commission. Her fundraising surged from the $6 million the Massachusetts senator raised in the first quarter, when she spent $5.2 million.The senator’s intake compared with the surprise $24.8 million haul by Buttigieg, the South Bend, Indiana, mayor who began his campaign with little name recognition. Biden, the former vice president, raised $21.5 million since entering the race in late April.Biden Leads Close Contest in New HampshireA new survey of New Hampshire Democrats finds former Vice President Joe Biden in a close contest for the lead with Senators Kamala Harris and Elizabeth Warren.Biden had 20.8%, Harris had 17.5% and Warren had 16.7% in the poll conducted by St. Anselm College. All the results were within the margin of error of plus or minus 5.2 percentage points, meaning the three candidates are in a statistical tie.Behind them was South Bend, Indiana, Mayor Pete Buttigieg with 11.5%. Senator Bernie Sanders had 9.9% in New Hampshire, which he won in the 2016 primary.The poll suggests that the first-in-the-nation primary is wide open as Harris and Warren gain on front-runner Biden after strong debate performances.Former Representative Beto O’Rourke plummeted to 0%, according to WMUR, which reported on the survey.Gillibrand Fundraising Dipped to $2.3 MillionDemocratic presidential candidate Kirsten Gillibrand took in $2.3 million in the second quarter, down from $3 million in the first three months of the year, according to her filing with the Federal Election Commission.The New York senator, who has struggled in the polls since entering the race, ended June with $8.2 million in the bank after spending a total of $4.2 million. In addition to the money she’s raised for her presidential bid, she transferred $9.6 million from her Senate campaign in the first quarter.Gillibrand’s campaign said in an email that 65% of its online donors identified as women. The campaign said it is still on pace to hit the 130,000 donors needed to qualify for the third set of debates in September. -- Bill Allison and Mark NiquetteJulian Castro Raises $2.8M in Second QuarterFormer Housing and Urban Development Secretary Julian Castro, hoping to emerge in the crowded 2020 Democratic presidential field after a strong debate performance last month, reported raising $2.8 million during the second quarter -- more than double the $1.1 million he raised in the first three months of the year.That still puts him well behind the Democrats who have announced their second-quarter totals so far: South Bend, Indiana Mayor Pete Buttigieg at $24.8 million and former Vice President Joe Biden at $21.5 million.Castro’s filing with the Federal Election Commission showed that almost 75% of his contributions came from donors giving $200 or less. He reported $1.1 million in the bank as of June 30. Monday is the deadline for presidential candidates and committees to report their second-quarter fundraising and spending. -- Bill AllisonTrump, RNC Raise $108M in Second QuarterPresident Donald Trump’s re-election campaign and the Republican National Committee raised $108 million and have $123.7 million cash on hand, according to revised figures announced Monday. That’s more than the top five Democratic campaigns combined.“Yet another record-shattering fundraising haul gives us a major advantage over the crowded field of Democrats as the RNC continues investing in our world-class field program and growing our incredible grassroots army,” RNC Chairwoman Ronna McDaniel said.Trump’s campaign committee and two joint fundraising vehicles, Trump Victory and Trump Make America Great Again, raised a combined $56.7 million, and ended June with $80.2 million in the bank. The RNC brought in $51.3 million, preliminary numbers showed, with $43.5 million in the bank.The top five Democrats running to replace Trump -- former Vice President Joe Biden, Senators Kamala Harris, Bernie Sanders and Elizabeth Warren and South Bend, Indiana, Mayor Pete Buttigieg raised a combined $95.4 million so far.Candidates must officially report second-quarter fundraising totals to the Federal Election Commission on Monday. Campaigns voluntarily announce the amounts they raised ahead of the deadline as a demonstration of the extent of support.Last week, the Trump campaign announced fundraising figures of $105 million for the second quarter and $100 million cash on hand.Trump’s campaign had over 957,000 individual donations, of which 98% were $200 or less, with an average donation of $41.48. -- Bill AllisonDemocrats Support Work Stop by Amazon WorkersDemocratic presidential candidates are supporting a work stoppage by Amazon warehouse workers in Minnesota who are protesting working conditions during the online retailing giant’s Prime Day sale.“I fully support Amazon workers’ Prime Day strike,” tweeted Elizabeth Warren, a Massachusetts senator who has proposed breaking up Amazon. “Their fight for safe and reliable jobs is another reminder that we must come together to hold big corporations accountable.”Julian Castro, a former Housing and Urban Development secretary from Texas, also took to Twitter to express solidarity. “A company worth $1 trillion can absolutely afford to provide reasonable conditions for its employees,” he wrote.Vermont Senator Bernie Sanders, who has co-sponsored legislation that would tax Amazon, Walmart Inc. and other big employers to compensate for the federal benefits received by their workers, also jumped in.After the bill was introduced last year, Amazon announced that it would raise its minimum wage to $15 an hour.“A higher wage is only one component of the fight for workers’ rights,” Sanders wrote Monday. “Amazon workers deserve safe working conditions, fair scheduling, and reasonable production demands.”Workers at Amazon’s Shakopee, Minnesota, warehouse -- one of 100 sorting and fulfillment centers it operates nationally -- planned to walk off the job Monday on one the company’s busiest days. Amazon has become a frequent target of Democratic candidates, who have used it as an emblem of income inequality. -- Gregory KorteTrump Crushes Democratic Contenders on TwitterRetweets are not endorsements, and neither are Twitter followers. But if they were, President Donald Trump would be winning the Twitter primary.Nineteen percent of adult Twitter users in the U.S. follow @realDonaldTrump on Twitter, compared to 14% who follow one or more of his Democratic rivals, according to a new analysis by the Pew Research Center.Perhaps not surprisingly, more Republicans (31%) follow Trump than Democrats (13%). And those who follow Trump on Twitter are more likely to approve of his job performance (54% approval) than those who don’t (24%).One defining characteristic of Trump’s tweets is that he often uses the social media platform to make inflammatory or controversial statements. Over the weekend and into Monday, for example, he let loose a torrent of posts going after four Democratic lawmakers of color, at one point suggesting that the women, all but one of whom was born in the U.S., should “go back and help fix the totally broken and crime infested places from which they came.”The Pew analysis is based on a representative sample of U.S.-based Twitter users and doesn’t include overseas, spam or bot accounts. Trump has 61.9 million Twitter followers in all. The top candidate for the Democratic nomination, Vermont Senator Bernie Sanders, has 9.4 million. -- Greg KorteDemocratic Field Turns Out for Iowa AARP ForumsNineteen Democratic presidential candidates descend on Iowa this week for five days of forums hosted by the AARP and the Des Moines Register.“Older voters turn out in force in every election, so any candidate who wants to win in 2020 needs to focus on soaring prescription drug prices and other issues they care about,” John Hishta, senior vice president of campaigns for the lobbying group for older Americans, said in a statement.Monday: former Vice President Joe Biden, Senators Cory Booker and Amy Klobuchar and former Colorado Governor John Hickenlooper in Des Moines.Tuesday: Senators Kirsten Gillibrand and Kamala Harris, and former HUD secretary Julian Castro in Davenport.Wednesday: Representatives Tim Ryan and Tulsi Gabbard, and Senator Michael Bennet in Cedar Rapids.Friday: Senator Elizabeth Warren, author Marianne Williamson, former Representative Beto O’Rourke and tech entrepreneur Andrew Yang in Sioux City.Saturday: Senator Bernie Sanders, South Bend Mayor Pete Buttigieg, Montana Governor Steve Bullock and New York City Mayor Bill de Blasio in Council Bluffs.\-- Tyler PagerO’Rourke Reveals His Family Owned SlavesDemocratic presidential candidate Beto O’Rourke, who’s said he supports studying reparations for African Americans as a means of addressing the legacy of slavery and legal discrimination, now says the issue has become personal. His ancestors include slave owners.In a new Medium essay, O’Rourke said his great-great-great grandfather Andrew Cowan Jasper, in the 1850s owned two women named Rosa and Eliza, according to documents he was recently given. Another ancestor, Frederick Williams, “most likely” owned slaves in the 1860s, O’Rourke said, adding that his wife, Amy, is also a descendant of a slave owner.“Something that we’ve been thinking about and talking about in town hall meetings and out on the campaign -- the legacy of slavery in the United States -- now has a much more personal connection,” the former U.S. representative from El Paso, Texas, said in the post dated Sunday.The revelation follows an NBC News report citing U.S. Census records that found Senate Majority Leader Mitch McConnell is also a descendant of slave owners. McConnell said he opposes government reparations because slavery “happened 150 years ago” and nobody living today is responsible.O’Rourke looks at the situation differently. “They were able to build wealth on the backs and off the sweat of others,” and those benefits ultimately passed to O’Rourke and his own children, he said. -- Terrence DoppSanders, Biden Intensify Fight Over Health Care (6 a.m.)Democrats are headed into a week of sparring over health care as two leading presidential contenders prepare to intensify their fight over the issue.On Monday, front-runner Joe Biden will unveil a plan that relies heavily on defending the Affordable Care Act enacted in 2010 when he was vice president. It would give Americans the choice of a Medicare-like, public option for insurance while increasing the value of tax credits, lowering the cap on the cost of insurance and offering coverage to 4.9 million Americans in states that haven’t expanded Medicaid under Obamacare. the proposal would cost an estimated $750 billion in its first decade.Vermont Senator Bernie Sanders, who champions a “Medicare for All” government-run insurance system, plans a Wednesday speech in Washington to “confront the Democratic opponents of Medicare for All and directly challenge the insurance and drug industry.”After months of maintaining a steady grip on second place behind Biden in polls, Sanders has slid to third or fourth in some surveys, and his advisers have encouraged him to take on Biden more directly.Biden, seeking to move past missteps in the past few weeks, has become increasingly aggressive in warning that Medicare for All – also supported by two other top rivals, Senators Kamala Harris and Elizabeth Warren – would mean giving up on the hard-fought gains of Obamacare and starting from scratch.“I admire the rest of the field, from Bernie to Elizabeth to Kamala who want, you know, Medicare for All, but let me tell you, I think one of the most significant things we’ve done in our administration is pass the Affordable Care Act,” Biden said Saturday in New Hampshire. “I don’t know why we’d get rid of what in fact is working and move to something totally new.”Biden also highlighted over the weekend that Medicare for All would need to be funded with tax increases for middle-income Americans, something that Sanders openly acknowledges. But Sanders maintains that his plan would ultimately save consumers money because they’d no longer have to pay other costs.“Obviously what Biden was doing is what the insurance companies and the pharmaceutical industries, Republicans, do: ignoring the fact that people will save money on their health care,” Sanders said in an interview with the New York Times published Sunday. “They will no longer have to pay premiums or out-of-pocket expenses. They will no longer have high deductibles and high co-payments.” -- Jennifer EpsteinCory Booker Unveils Health Care PlanSenator Cory Booker rolled out a plan Monday to expand Medicaid long-term care services to those with assets up to $200,000 and income as high as 300% of the federal poverty level.People above those thresholds would also be allowed to buy into the program, an initiative aimed at allowing every American to live at home while aging, according to a white paper from his presidential campaign.The proposal, which Booker is set to discuss at an AARP forum in Des Moines, Iowa, on Monday, would include raising Medicaid funding for direct care workers and paying them at least $15 per hour.“In one of the richest nations in the world, no person should ever go broke or have to quit their job to afford long-term care or to take care of a loved one,” Booker said.Health care is a focal point of the Democratic policy debate as candidates clash over bigger ideas like Medicare for all and offering a “public option” for insurance, both of with Booker has endorsed as ways to expand coverage. -- Sahil KapurComing Up This Week:Nineteen of the two dozen or so Democratic candidates will participate in AARP’s five forums in Iowa between Monday and Saturday.The Tuesday event in Davenport will feature Senators Kirsten Gillibrand and Kamala Harris, and former HUD secretary Julian Castro.The Wednesday event in Cedar Rapids will feature Representatives Tim Ryan and Tulsi Gabbard, and Senator Michael Bennet.The Friday event in Sioux City will feature Senator Elizabeth Warren, author Marianne Williamson, former Representative Beto O’Rourke and tech entrepreneur Andrew Yang.The Saturday event in Council Bluffs will feature Senator Bernie Sanders, South Bend Mayor Pete Buttigieg, Montana Governor Steve Bullock and New York City Mayor Bill de Blasio.\--With assistance from Sahil Kapur, Jennifer Epstein, Terrence Dopp, Tyler Pager, Gregory Korte and Bill Allison.To contact the reporters on this story: Mark Niquette in Columbus at mniquette@bloomberg.net;Bill Allison in Washington DC at ballison14@bloomberg.netTo contact the editors responsible for this story: Wendy Benjaminson at wbenjaminson@bloomberg.net, Sara Forden, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Here's Why I Think Toronto-Dominion Bank (TSE:TD) Is An Interesting Stock
    Simply Wall St.6 days ago

    Here's Why I Think Toronto-Dominion Bank (TSE:TD) Is An Interesting Stock

    Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...

  • Bloomberg6 days ago

    Big Data Week Offers Clues on Canadian Rates and Economic Outlook

    (Bloomberg) -- With lawmakers on summer recess and the Bank of Canada’s latest decision in the can, attention turns to the economic numbers for signs of whether the recent momentum will continue, and what it might mean for interest rates.“Recent Canadian developments stand in sharp contrast to events in much of the rest of the world,” Scotiabank economists including Jean-François Perrault wrote in a July 12 research report. “Whereas U.S. growth is clearly decelerating, Canadian growth is on an upswing, with recent indicators pointing to a very sharp rebound from a somewhat sluggish start to the year.”In a data-packed week, these are the most important releases to watch:InflationStatistics Canada releases Consumer Price Index data for June on Wednesday. Economists are predicting a 0.3% decrease in the month-over-month reading, and a deceleration in the annual print to 2%, mostly on a significant drop in gasoline prices. In May, the annual rate hit 2.4%, a seven-month peak, while core measures, which strip out many of the most volatile items, reached the highest since 2012. Those core measures are forecast to remain at about 2.1%, and so long as underlying inflation remains relatively close the Bank of Canada’s 2% target, there’s less reason for it to change its wait-and-see approach to interest rates.Retail SalesTwo days later, on Friday, the federal statistics agency releases May retail sales numbers. After muted gains the month before, economists see stronger contributions from NBA playoff spending, as well as home furnishings and building materials as housing continues to strengthen. With the labor market still strong and borrowing costs holding steady, look for the Canadian consumer to continue propping up the economy. The median forecast in a Bloomberg survey is for retail sales to rise 0.3% in May, and the ex-autos number to come in even higher, at 0.4%.Manufacturing SalesThey will likely be overshadowed by the inflation data, but manufacturing numbers out Wednesday should signal an improvement after the 0.6% decrease in the prior month. Analysts at Toronto-Dominion Bank are looking for a 1.6% gain in the month on transportation products including motor vehicles and aerospace equipment. The median forecast in a Bloomberg survey is for a 2% gain.HousingHousing numbers will come increasingly into focus, given the role residential investment is playing in the central bank’s rebound narrative. On Monday, the Canadian Real Estate Association reports existing home sales for June, while the Teranet Home Price Index comes out Thursday. The country’s housing market has looked much better in the second quarter so far -- starts had a massive gain last month -- and this week’s data points, the last for the period -- should continue the trend.\--With assistance from Erik Hertzberg.To contact the reporter on this story: Chris Fournier in Ottawa at cfournier3@bloomberg.netTo contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Stephen WicaryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters10 days ago

    CANADA STOCKS-TSX falls as materials drop on lower gold prices

    Canada's main stock index fell on Thursday, as shares of precious metal miners dropped after gold prices fell on a strong reading of inflation in the United States. * At 9:37 a.m. ET (1337 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was down 17.37 points, or 0.1%, at 16,545.92. * The energy sector climbed 0.2% after oil prices hit a six-week high as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.

  • Besting U.S. Growth Is Canada’s Ticket to Defying Easing Spree
    Bloomberg10 days ago

    Besting U.S. Growth Is Canada’s Ticket to Defying Easing Spree

    (Bloomberg) -- The Bank of Canada’s firmly entrenched holding pattern on rates will be put to the test by the country’s ability to withstand a deceleration in the world’s largest economy and its biggest trading partner.The Ottawa-based central bank left the overnight rate unchanged at 1.75% on Wednesday for a sixth straight decision, and indicated it’s in no rush to introduce easier policy, despite a mounting drag from the U.S.-China trade war and a widely-anticipated interest rate reduction by the Federal Reserve later this month.Canada doesn’t need to follow the Fed in large part because its growth will be superior to that of the U.S. without additional monetary accommodation, according to policy makers. The central bank forecasts a pick-up of 1.9% growth for the Canadian economy in 2020, from 1.3% this year, and for U.S. activity to tail off to 1.7%, from 2.5%.That might sound like divergence, but “in fact, it’s a process of convergence,” Carolyn Wilkins, Bank of Canada senior deputy governor, said in a press conference.Return to SynchronicityDeep trade linkages have ensured a high degree of historical synchronicity between Canadian and American economic performance, with episodes of decoupling arising over the past decade due to major commodity price shocks and differences in the timing of fiscal stimulus. Indeed, the consensus among economists surveyed by Bloomberg is for both economies to expand by 1.8% in 2020.Canadian growth is supported by a monetary policy stance that’s currently more stimulative than in the U.S., while domestic-centric headwinds related to housing and the energy sector look to be ebbing.“It’s entirely consistent for Canada, in this circumstance, to grow just a little bit faster than the U.S. as we adjust towards potential from below and they adjust from above,” said Wilkins.That’s an apt diagnosis, according to Toronto-Dominion Bank senior economist Brian DePratto, who sees the central bank on hold through 2020. If anything, the Bank of Canada is “setting a low bar” for the near-term growth outlook, he said, which will help bolster the case for keeping rates on hold.“With easing going on south of the border and the bleed through in funding conditions, that does sort of prime things for a bit of a return to that growth pattern with housing and consumption,” he said. “And then you’ve got the ‘human stimulus’ argument -- Canada’s continuing to have healthy population growth, which translates into labor force and job gains.”Most economists who track the Bank of Canada also expect rates to be on hold through 2020. That sets Governor Stephen Poloz up for a poetic pause. If the current holding pattern on rates lasts through the first half of 2020, he’ll be poised to end his seven-year term just as he started it: with more than a year and a half of unchanged policy.But traders aren’t completely on board with the message. A 25 basis point rate cut isn’t fully priced in over the next year, though the implied odds of an ease roughly doubled to 80% on Wednesday in the wake of the central bank’s decision in concert with dovish remarks from Fed Chair Jerome Powell.Story Doesn’t HoldA handful of economists share the market’s doubts.Canada has imported easier financial conditions in the form of lower bond yields without matching the extent of the dovish turn taken by central banks globally. But the nation hasn’t been a complete free-rider on this trend, according to Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce.Five-year bond yields -- which tend to move along with five-year fixed mortgage rates, the dominant product in the Canadian real estate market -- have some degree of Bank of Canada easing baked into them, which will reverse if the central bank fails to deliver.“It’s reasonable, for now, for the Bank of Canada to not give too many clues one way or the other on interest rates, as they had this wisdom of not hiking as much as the Fed,” Shenfeld said. “But there will be enough of a global slowing that the impact on Canada from that, coupled with the threat of Canadian dollar appreciation if the Bank of Canada stays on hold forever, will be enough to prompt a token ease.”CIBC expects a cut in the second quarter of 2020.Macquarie Capital economist David Doyle agrees, pointing to a nasty shock awaiting Canadians poised to renew mortgages next year, a stark contrast to the limited stress on those doing so this year.“It’s funny to me that the BoC, in their growth model, indicates a big part of the inflection in growth you’re getting is coming from residential investment, and also have consumption relatively stable,” he said. “That strikes me as odd because of that rate reset headwind -- which was specifically brought up as an element that’s supporting activity in the current year -- becomes a wall of a headwind as you move into 2020.”Disappointing growth in 2020 will elicit rate cuts starting in the middle of the year, concludes Doyle. That’s because this time, unlike in 2018, Canada won’t be able to ride the coattails of a booming economy stateside.To contact the reporter on this story: Luke Kawa in New York at lkawa@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Chris Fournier, Stephen WicaryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • HELOC Tops List of Homeowners' Financing Sources for Renovations, TD Bank Survey Finds
    PR Newswire11 days ago

    HELOC Tops List of Homeowners' Financing Sources for Renovations, TD Bank Survey Finds

    CHERRY HILL, N.J., July 10, 2019 /PRNewswire/ -- Nearly half of homeowners (48 percent) plan to renovate their homes in the next two years, and a third of those homeowners expect to spend more than $50,000 on their renovations, according to recent research from TD Bank, America's Most Convenient Bank®. TD Bank's Home Equity Trend Watch is a national survey of more than 1,800 homeowners which examines trends in home equity usage and home renovations.

  • Canadian Housing Starts Surge 25% on Coast-to-Coast Increase
    Bloomberg12 days ago

    Canadian Housing Starts Surge 25% on Coast-to-Coast Increase

    (Bloomberg) -- Canadian housing starts surged to the highest level in more than a year in June, led by construction of multiple-family dwellings such as condos and row houses.In another sign of recovery for the nation’s real estate market, builders started work on an annualized 245,657 units last month, a jump of 25% from May, Canada Mortgage and Housing Corp. said Tuesday -- easily topping the median forecast of 208,600 units in a Bloomberg survey. Multiple unit starts rose 31% on the month to 189,200, CMHC said.Gains were “evenly spread out across the country,” Jocelyn Paquet, an economist at National Bank Financial in Montreal, wrote in a note to clients, adding all 10 provinces registered increases, something that hasn’t happened since 1996.The report is in line with other recent data that suggests the nation’s housing sector is stabilizing from a recent slump, easing concern that more expensive markets like Toronto and Vancouver were poised for a major correction. On a quarterly basis, starts rose 20% in the April to June period, rebounding from a 14% decline in the first three months of 2019, meaning residential construction probably provided a positive contribution to second-quarter growth, Paquet said.The increase in national housing starts was “primarily due to higher trending row and apartment starts in urban areas,“ Bob Dugan, CMHC’s chief economist, said in a statement. Home building was 36% higher in Ontario, and up 12% each in British Columbia and Quebec, the agency reported. It surged 43% in Alberta.“Robust population growth, strong labor markets, and past gains in pre-construction sales” are supporting starts, according to Rishi Sondhi, an economist at Toronto-Dominion Bank. He said, however, that starts are moving gradually lower on a “trend basis,” with the 6-month average well down from its late 2017 peak.“We anticipate some further moderation, as starts move closer to a more fundamentally supported level of around 200k,” Sondhi said in a note.In a separate release Tuesday, Statistics Canada reported residential building permits fell 17% in May. More housing data is in the offing, with Statistics Canada’s New Housing Price Index for May out Thursday and Canadian Real Estate Association data on existing home sales due Monday.(Updates with economist’s comment in 3rd paragraph, details throughout.)\--With assistance from Chris Middleton.To contact the reporter on this story: Chris Fournier in Ottawa at cfournier3@bloomberg.netTo contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Stephen WicaryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group17 days ago

    The Canadian Urological Association enters into exclusive sponsorship agreement with TD

    The Canadian Urological Association enters into exclusive sponsorship agreement with TD

  • CNW Group19 days ago

    TD Announces Dividend Rates on Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3 (NVCC) and Non-Cumulative Floating Rate Preferred Shares Series 4 (NVCC)

    TD Announces Dividend Rates on Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3 (NVCC) and Non-Cumulative Floating Rate Preferred Shares Series 4 (NVCC)

  • TD Bank injunction against Vernon Hill tossed in copyright case
    American City Business Journals19 days ago

    TD Bank injunction against Vernon Hill tossed in copyright case

    In a split decision, the court also found that TD retained copyright interest in a manuscript Hill originally wrote when serving as Commerce Bancorp CEO for a book he published in 2010.

  • Citigroup, Goldman Sachs Lead These 6 Bank Stocks To Buy And Watch
    Investor's Business Daily21 days ago

    Citigroup, Goldman Sachs Lead These 6 Bank Stocks To Buy And Watch

    With dividends and share buybacks announced after passing annual Fed stress tests, Citigroup stock and Goldman stock lead six bank stocks to buy and watch.

  • CNW Group24 days ago

    TD Bank Group - Statement on 2019 CCAR Results

    The Fed did not object to the capital plan submitted for TD Group US Holdings LLC (TDGUS), TD Bank Group's top-tier bank holding company in the US. From time to time, the Bank (as defined in this document) makes written and/or oral forward-looking statements, including in this document, in other filings with Canadian regulators or the United States (U.S.) Securities and Exchange Commission (SEC), and in other communications. In addition, representatives of the Bank may make forward-looking statements orally to analysts, investors, the media, and others.

  • Bloomberg24 days ago

    Ford, TD Bank Files Found Online in Cloud Data Exposure

    (Bloomberg) -- Attunity Ltd., a company that manages and safeguards data, left internal files exposed on the internet for clients including Ford Motor Co., and the Toronto-Dominion Bank, in the latest example of sensitive information being publicly accessible on the web. The incident revealed passwords and network information about Attunity as well as emails and technology designs from some of its high-profile customers. Researchers at UpGuard Inc., a cybersecurity company, found more than a terabyte of data left unsecured by Attunity last month on Amazon Web Services cloud-computer servers, according to a report they published Thursday.Attunity is a data custodian that helps integrate clients’ information stored in various places so it can be analyzed easily. The company, based in Kfar Saba, Israel, is an “Advanced Technology Partner” of Amazon.com Inc.’s cloud division. Yet Attunity didn’t configure its cloud storage so it was locked to the public and left all of the data visible in plain text, Upguard said. The failure is similar to an incident Bloomberg News reported in April when digital platform Cultura Colectiva openly stored 540 million records on Facebook Inc. users in Amazon’s cloud.Attunity’s data buckets included files about Ford’s information-technology architecture and details on internal project plans. Documents attributed to TD Bank included invoices, agreements between the companies, and files about the type of technology solution Attunity was configuring for the bank. There was also log-in information for a database Attunity created when it was trying to sign Netflix Inc. as a client in 2015. Netflix downloaded a demo of an Attunity tool that could have helped the streaming company switch databases, but never became a customer, according to a Netflix spokeswoman. The centerpiece was a large collection of Attunity files including administrative and employee passwords to various systems, extensive employee email backups, a roadmap to the company’s virtual network and personal information about Attunity’s employees. The widespread presence of login credentials swelled the potential harm of the data leak, according to UpGuard. “It’s a category of data breach we refer to as a keys-to-the-kingdom exposure,” said Chris Vickery, director of cyber-risk research at UpGuard. So far, UpGuard said it had no evidence that any bad actors took advantage of the information when it was accessible online. Attunity removed public access to the buckets the day after UpGuard informed the company about the breach in May, but it took several weeks before Attunity asked the cybersecurity company more detailed questions about the data exposure, according to Vickery. Attunity said current evidence indicated UpGuard was the only entity that accessed the data.“We are still in the process of conducting a thorough investigation into the issue and have engaged outside security firms to conduct independent security evaluations,” Derek Lyons, a spokesman for Attunity’s parent company, Qlik Technologies Inc., said in a statement. “Attunity customers deploy and operate the software directly in their own environments, and therefore Attunity doesn’t store or host sensitive customer data. Upon becoming aware of the issue, Qlik applied its security standards and best practices to the Attunity environments, including monitoring by Qlik’s 24x7 security operations center. We take this matter seriously and are committed to concluding this investigation as soon as possible.”TD Bank said it was also trying to assess the impact of the data exposure in a timely manner. “We are currently investigating this matter and, thus far, we have found no evidence that our customers' personal and financial information was exposed,” said Matthew Doherty, a spokesman for the bank. “We also have safeguards in place that are designed to help deter unauthorized access and use of our customers' personal and financial information.”Ford said it was never notified about a data exposure.  “We know the kind of information we provide to companies like Attunity, and we don’t believe there’s an issue,” said Monique Brentley, a spokeswoman for the carmaker.Netflix said Attunity never had access to the company’s technology systems.Attunity is relatively small, posting sales of $86.2 million for the year that ended Dec. 31, but it has a collection of big-name clients, such as drugmaker Pfizer Inc., Mercedes-Benz USA and Union Bank. In total, 44 members of the Fortune 100 and more than 2,000 organizations around the world use Attunity’s services, the company says on its website.The data-migration company partners with many IT companies, including Microsoft Corp., Alphabet Inc.’s Google Cloud, Oracle Corp., and International Business Machines Corp., according to its website. Attunity had been publicly traded until May, when Qlik bought the company for about $560 million. Radnor, Pennsylvania-based Qlik, a data-analytics company, is owned by private equity firm Thoma Bravo LLC.“It’s embarrassing for a company marketing services by saying we’ll help you use the cloud properly to make a mistake when they’re using it,” Adam Chlipala, a professor of computer science at the Massachusetts Institute of Technology, said in an interview. “At the same time, finding these types of AWS errors in a complex environment is not always obvious.” Since Amazon has invested in more tools to spot these problems, he expects that “over time, there’ll be fewer and fewer of these data breaches.”UpGuard couldn’t confirm the full size of the Attunity information, which dated to September 2014 and included 750 gigabytes of compressed email correspondence. Backups of some employees’ accounts for Microsoft OneDrive – a file-hosting service – were also present. Besides system passwords, the researchers also found contact information for sales and marketing customers and targets, and project specifications.UpGuard also found personal information about 354 of Attunity’s employees, such as U.S. social security numbers, cash-and-stock compensation and dates of birth. Attunity had 298 employees through the end of last year, according to data from a regulatory filing.It would have been easy for Attunity to conceal the data from public view from the start, UpGuard’s Vickery said.“It’s a one-to-three click fix,” he said. “It illustrates that there were systemic issues with security.”To contact the authors of this story: Nico Grant in San Francisco at ngrant20@bloomberg.netJosh Eidelson in Palo Alto at jeidelson@bloomberg.netTo contact the editor responsible for this story: Andrew Pollack at apollack1@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Cautious Executives are Preparing for an Economic Downturn, TD Bank Survey Reveals
    PR Newswire25 days ago

    Cautious Executives are Preparing for an Economic Downturn, TD Bank Survey Reveals

    CHERRY HILL, N.J., June 26, 2019 /PRNewswire/ -- When it comes to preparing for the future, U.S. businesses are acting with caution. Although 83 percent of respondents have an overall positive outlook on the future of the economy, more than half (58 percent) are preparing for an economic downturn, according to a newly released Corporate Finance Survey of 300 financial decision-makers conducted by TD Bank, America's Most Convenient Bank®. The survey examined CFOs, treasurers and other financial professionals' perspectives on the economy, business environment, geopolitical trends and growth plans to better understand challenges and opportunities in the market.

  • TD Bank Names Sheryl McQuade Regional President for Northern New England
    PR Newswire25 days ago

    TD Bank Names Sheryl McQuade Regional President for Northern New England

    CHERRY HILL, N.J., and PORTLAND, Maine, June 26, 2019 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, has named Sheryl L. McQuade Regional President for Northern New England, covering Maine, Vermont and New Hampshire. In this role, McQuade will lead TD Bank's Northern New England retail, small business, commercial and middle-market banking operations and lending services throughout a network of approximately 130 stores and 4,300 employees.

  • CNW Group26 days ago

    TD Announces Conversion Privilege of Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3 (NVCC)

    TD Announces Conversion Privilege of Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 3 (NVCC)

  • Individuals with Disabilities Increased Participation in Sports, New TD Survey Finds
    PR Newswire26 days ago

    Individuals with Disabilities Increased Participation in Sports, New TD Survey Finds

    The bank surveyed 503 individuals with disabilities across the U.S. to examine sports participation on the heels of the 17th Annual Achilles Hope & Possibility Road Race by TD Bank, one of the world's largest road races supporting individuals with disabilities, which was held on Sunday, June 23 in New York City's Central Park. "Our support of Hope & Possibility reflects our focus on what people can do," said Andrew Bregenzer, TD's Regional President, Metro New York.

  • TD Calls For Innovative Solutions To Help Increase Equitable Health Outcomes In Second Year Of TD Ready Challenge
    PR Newswire27 days ago

    TD Calls For Innovative Solutions To Help Increase Equitable Health Outcomes In Second Year Of TD Ready Challenge

    TORONTO and CHERRY HILL, N.J., June 24, 2019 /PRNewswire/ -- TD announced today that applications are open for the 2019 TD Ready Challenge, its annual North American initiative that has a total of 10 grants of $1 million (CDN) each, available to be awarded to ten future-forward organizations offering innovative solutions for a changing world. Launched last year, the TD Ready Challenge acts as a springboard for social innovation to help forge relationships, test new ideas and scale solutions for emerging problems. Eligible organizations are invited to submit proposals offering solutions to a specific issue identified within The Ready Commitment, TD's corporate citizenship platform.

  • CNW Group27 days ago

    TD Calls For Innovative Solutions to Help Increase Equitable Health Outcomes in Second Year of TD Ready Challenge

    TORONTO and CHERRY HILL, NJ , June 24, 2019 /CNW/ - TD announced today that applications are open for the 2019 TD Ready Challenge, its annual North American initiative that has a total of 10 grants of $1 million (CDN) each, available to be awarded to ten future-forward organizations offering innovative solutions for a changing world. Launched last year, the TD Ready Challenge acts as a springboard for social innovation to help forge relationships, test new ideas and scale solutions for emerging problems. Eligible organizations are invited to submit proposals offering solutions to a specific issue identified within The Ready Commitment, TD's corporate citizenship platform.

  • Reuterslast month

    U.S. banks clear first hurdle of Federal Reserve's annual stress test

    By Pete Schroeder WASHINGTON, June 21 (Reuters) - The 18 largest banks operating in the United States took the first step toward doling out capital on dividends, share buybacks and other investments on Friday, after clearing the first stage of their yearly health checks with the U.S. Federal Reserve. The central bank said lenders, including JPMorgan Chase & Co , Citigroup Inc, Goldman Sachs, Morgan Stanley and Bank of America Corp, would face losses of $410 billion under its most severe recession scenario ever, but levels of high-quality capital would still be well above regulatory minimums. (Reporting by Pete Schroeder Editing by Leslie Adler

  • Barrons.comlast month

    2 Senators Blame TD Bank for Crisis-Era Ponzi Scheme and Demand It Aid Victims

    A financial crisis-era Ponzi scheme is creating a new headache for the chief executive of Toronto-Dominion Bank, as two U.S. senators have demanded he come up with a plan to help the victims.

  • CNW Grouplast month

    TD Bank Group to Issue NVCC Subordinated Debentures

    TD Bank Group to Issue NVCC Subordinated Debentures