$RBC

Mayville Engineering (MEC) and other engineered components and systems stocks reported strong Q2 revenues, beating estimates by 3.4%. MEC's revenue grew 23.2% YoY, exceeding expectations. Despite strong earnings, share prices for these companies have declined, with MEC down 26% since reporting. Enpro (NPO) and RBC Bearings (RBC) also reported strong results, while Worthington (WOR) missed estimates.

Diamond Luxury Builders Inc. and 1000704900 Ontario Inc. were placed into receivership on June 26, 2026, after Royal Bank of Canada sought action over about C$2.7 million in unpaid debt. Defaults included months of missed financial reporting and no payments from March 17 to June 24. RBC had provided C$1.5 million and C$1.125 million loans secured by property. The court set a June 26 deadline for interest and refinancing, but found no reasonable repayment prospect.

Royal Bank of Canada (RBC) obtained receivership for Alberta dairy equipment group Chinook Farm Innovations Inc., PMI Corp. and Pro-Line Manufacturing Inc. on Aug 12, 2026, seeking recovery of about C$5.4M. RBC says sales fell from ~C$17M (2023) to C$13.9M (2025), with a ~C$2.5M net loss and ~C$12.6M liabilities. CRA payroll tax arrears rose to ~C$872k.

The weekly digest covers Canada-US tariff talks ahead of Aug. 19, with Canada warning it would halt talks and retaliate if 50% tariffs take effect. It also reports RBC and BMO plan to sell Moneris to Francisco Partners for about $2B, and Air Canada to sell a 25% Aeroplan stake for $2.5B, valuing Aeroplan above $10B.

CIRO issued reasons for decision in the matter of RBC Dominion Securities Inc. after a June 18, 2026 settlement hearing. The panel found RBC DS failed to supervise futures trading by two registered representatives. Sanctions confirmed include a $1.5 million fine, $1.8 million disgorgement, and $100,000 costs, per the settlement agreement.

Francisco Partners agreed to buy Toronto-based payments processor Moneris for about C$2bn (US$1.44bn) in cash, from jointly owned Moneris by BMO and RBC, which will each receive 50% of proceeds. Moneris serves 325,000 commerce points. Deal expected to close by end of Q1 of BMO and RBC fiscal 2027; RBC expects an after-tax gain of about C$475m.

RBC Wealth Management recruited the Sexton Group, a $1 billion assets team from Morgan Stanley in the Washington, D.C. metro area, joining RBC in Tysons, Virginia, according to an RBC spokesperson. The team is led by Mary M. Sexton and Erik M. Knoble, with support staff listed by RBC. RBC says the group reports to RBC Mid Atlantic Complex directors.

RBC Bearings INC (RBC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 RBC Bearings Incorporated Announces Fiscal First Quarter 2027 Results Oxford, CT – July 31, 2026 – RBC Bearings Incorporated (NYSE: RBC), a leading international manufacturer of highly engineered precision bearings, components and essential systems for the industrial

According to statements cited in the article, a seven-person UBS team joined RBC Wealth Management under Focus Wealth Management, managing about $1.5 billion in client assets. The team focuses on wealth transfer and exit planning and is led by James “Trey” Mahoney III and others. Separately, Raymond James added Evan R. Bloomberg, CFA, bringing more than $500 million in assets.

RBC Wealth Management hired a seven-person UBS team to manage about $1.5 billion in client assets at Focus Wealth Management in Palm Beach Gardens, Fla., according to RBC and BrokerCheck. The team includes managing directors James “Trey” Mahoney III and Peter Foley Jr. RBC said it is expanding its UHNW capabilities and targets adding 600 advisors by 2029. UBS reported 5,644 U.S. advisors at end of June.