Interest grows in new banks

Article Abstract:

Under lighter government restrictions, many Canadian financial services companies are considering launching new banks.

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HSBC Bank Canada profit rises 27.5% in quarter

Article Abstract:

HSBC Bank Canada posted an increase of 27.5% in its profits for the 2002 fourth quarter. The company posted 65 million Canadian dollars in profits for the quarterly period.

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Air Canada strikes funding deal with Cerberus: U.S. vulture fund to invest $250-million

Article Abstract:

The Air Canada airline has reached an agreement for a $250-million investment by an affiliate of Cerberus Capital Management LP. The agreement would give the insolvent airline access to more than $2.9-billion in capital if and when it emerges from bankruptcy protection.

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