| Q&A: RBC's Gordon Nixon
He has spent his entire career in banking. He started at Dominion Securities, then moved on to Royal Bank of Canada when it acquired DS in 1987. He became RBC's CEO in August 2001, and is the current chair of the Canadian Council of Chief Executives. With nearly 30 years of experience, including six running Canada's largest bank, the man knows the sector inside out. Nixon has plenty to say on the topics of the competitiveness of Canada's financial services industry, where to find opportunities in the current market, and bank mergers and competition policy. He spoke about these issues, and others, with U.S.-based contributor Rachel Pulfer. When I'm talking to Wall Street contacts, RBC often comes up as one of the most aggressive, innovative Canadian banks. How have you earned that reputation? We are the largest bank in the country.
A down day for the banking stocks
At Garrison Chapel, the Malta Stock Exchange index caved in 10.65 points or 0.22% to close the second session of the week at 4878.73 points. Trading was primarily concentrated around the banking sector as Bank of Valletta p.l.c. and HSBC Bank Malta p.l.c. took a dive. Furthermore, Lombard Bank Malta p.l.c. incurred the sharpest decline of the day. .
Letters to the Editor
I feel that the standard of help in many Island businesses has dropped to an inexcusable level. While the smaller, family businesses maintain their charm and quality service, some of the larger chains have overlooked the basic qualities that make a business appealing to customers. My greatest disappointment regards customer service. It doesn't bother me that it can be difficult to find a clerk; after all, it is the off-season, and so help can be scarce. What bothers me is that upon finding a clerk, I also find rolling eyes and an attitude that makes me feel like a burden to help. Businesses should take more care in the training of their employees to ensure that customers are at least decently cared for. Many people may not be used to good manners at home, but lacking them in a business setting takes away from the professionalism of the employees and reflects the quality of the business.
Roth 401(k) plans can ease tax load
For years, traditional 401(k) plans have helped people build a nest egg by funding a retirement account with pre-tax dollars. But a potential crack in the egg was having to pay taxes on account withdrawals. Now Americans can invest in a Roth version of a 401(k) that allows them to withdraw the money tax-free as a result of making contributions with post-tax dollars. .
(AFX UK Focus) 2007-11-06 09:30 GMT: TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT
2007-11-06 09:12:59 China's Fortune SGAM denies report of changed QDII quota for HK market - source BEIJING (XFN-ASIA) - Fortune SGAM Fund Management Co Ltd, a Societe Generale fund joint venture, has not been asked to adjust its Qualified Domestic Institutional Investor (QDII) quota for investment in the Hong Kong stock market, a company spokesman told XFN-Asia. 2007-11-06 08:59:19 Indonesian banks outstanding loans up 21.5 pct in 9 months to September JAKARTA (Thomson Financial) - The Indonesian banking industry's outstanding loans rose 21.5 percent to 957 trillion rupiah in the first nine months of the year compared to the same period last year, Bank Indonesia deputy governor Made Sukada said. 2007-11-06 08:58:49 BROKER CALL Hong Kong stock market may see more profit-taking - ICEA Securities HONG KONG (XFN-ASIA) - The Hong Kong stock market may fall further in the next few days on more profit-taking after suffering its biggest one-day points loss on the key index yesterday, ICEA Securities Asia said.
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