CIBC to Sell Some US Operations

Canadian Imperial Bank of Commerce said Sunday it has agreed to sell its U.S. investment banking, equities, leveraged finance and related debt capital markets businesses to Oppenheimer Holdings Inc.

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Economists are no longer talking about a U.S. recession but a deep recession after figures yesterday showed business sentiment continued to plummet in early February.

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A "steady ascent" of crude oil prices toward $100 (U.S.) a barrel continues, but the predicted date when that level will be hit remains a moving target, according to a CIBC World Markets report yesterday.

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For the second time in three years, the ability of the CIBC (TSX:CM) to protect confidential data has come under scrutiny after a computer file containing information on up to 470,000 Talvest Mutual Funds clients was lost in transit between offices.

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The Canadian Imperial Bank of Commerce (CICB) will by buying majority control of FirstCaribbean International in a 1.08 billion US deal with Barclays Bank PLC.

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Former public works minister Scott Brison's income-trust e-mails could soon become the subject of a probe as the NDP has asked Ethics Commissioner Bernard Shapiro to investigate the Liberal MP's actions.

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The "Camouflage Bandit" has struck again, this time robbing a CIBC branch in Mississauga on Saturday morning. Police say the sunglass-wearing robber has now held up at least 21 banks across southern Ontario.

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