Royal Bank, Koch team up

Article Abstract:

Royal Bank of Canada has formed an alliance with US oil patch giant Koch Industries to provide customers with better pricing on energy and other weather-hedging derivatives. In addition to giving access to each other's energy-related trading and derivatives businesses, the alliance also allows both companies to develop joint products. Royal Bank, in particular, is noted for its weakness in advising clients on mitigating commodity-based risk and the deal could help the bank cover up that weakness.

Comment:

Forms an alliance with Royal Bank of Canada to provide customers with better pricing on energy and other derivatives

Natural Gas Liquid Extraction, Liquefied Petroleum Gas, Koch Industries Inc.

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Wal-Mart, TD team up to offer new credit card

Article Abstract:

Wal-Mart Canada Inc., a retailing company, is expected to confirm plans to forge an alliance with Toronto Dominion Bank (TD) to offer customers of Wal-Mart with credit card. Both Wal-Mart and TD declined to comment on the proposed alliance but sources said the new effort would involve a Wal-MartTD Visa card comparable to the Chase Wal-Mart card offered to Wal-Mart's customers in the US. Wal-Mart, which still has no in-house card, has been scouting for a credit card partner during the past months.

Comment:

Is expected to confirm plans to forge alliance w/ Wal-Mart Canada Inc to offer Wal-Mart customers credit card

Department Stores, Toronto Dominion Bank, Wal-Mart Canada Corp.

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Royal, B of M planned to pump billions into Harris Bank

Article Abstract:

Harris Bankcorp Inc of Chicago, IL, would have received C$ 4 billion from Royal Bank of Canada and Bank of Montreal if the Canadian goverment had allowed their planned merger to push through. Harris Bank, wholly owned by Montreal, would have given the Royal Bank the platform from which it could expand its US operations. Harris Bank posted a profit of $202.7 million on revenue of $1.25 billion.

Receipt of funds, Use of Funds, Harris Bankcorp Inc.

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