|
|
| Certicom says yes to RIM's sweeter offer
|
|
JOHN PARTRIDGE AND MATT HARTLEY
|
Friday, February 06, 2009
|
Research In Motion Ltd.'s much-sweetened takeover offer for Certicom Corp. has won approval from the security software maker's board of directors.Certicom said yesterday its board has determined that the $3-a-share bid RIM unveiled on Tuesday - worth $131-million in all and double its initial bid - is superior to the $2.10-a-share offer from VeriSign Inc., based in Mountain View, Calif.
FULL STORY 
|
|
| Frontera turns to Southern Copper as its white knight
|
|
JOHN PARTRIDGE
|
Thursday, February 05, 2009
|
Little Frontera Copper Corp. has lined up one of the world's largest copper producers as a white knight in its battle to better an unsolicited takeover bid launched for it late last year by Invecture Group SA de CV of Mexico.
FULL STORY
|
|
| RIM doubles initial bid to win over Certicom
|
|
Simon Avery and John Partridge
|
Wednesday, February 04, 2009
|
Anxious to gain control of vital technology that secures its BlackBerry devices, Research In Motion Ltd. is taking another run at Certicom Corp., doubling its initial hostile bid that was rejected. Certicom said yesterday that RIM is offering $3 a share in cash, 43 per cent more than the friendly offer Certicom accepted 11 days earlier from California-based VeriSign Inc. RIM's latest cash offer values the Mississauga-based company at about $131-million, compared with a $66-million proposal in December. RIM has been a client of Certicom, which builds security software, since 2000. Certicom said in a release that a special committee of its board is reviewing the RIM offer, ''in the context of the company's legal obligations under its arrangement agreement with VeriSign.'' RIM (TSX) fell $1.25 to $68.27 and CIC (TSX) rose 85 cents to $3.20.
FULL STORY
|
|
| No bottom, but pace of commodities' decline slows
|
|
JOHN PARTRIDGE
|
Friday, January 30, 2009
|
Global commodity prices have not yet hit bottom, but they are not falling as fast as they have been, Bank of Nova Scotia said yesterday.''The pace of decline is slowing and the forced, indiscriminate asset selling by funds - triggered by investor redemptions and tight credit - appears to be subsiding,'' Patricia Mohr, vice-president of economics and commodity market specialist at Scotiabank, said in a monthly report.
FULL STORY
|
|
| ING Canada profit slips as parent bleeds red ink
|
|
John Partridge
|
Tuesday, January 27, 2009
|
Insurer ING Canada Inc. yesterday unveiled a fourth-quarter loss of $64.1-million, or 53 cents a share. The company revealed the red ink shortly after Dutch parent ING Groep NV announced it is changing chief executives, seeking financial aid from the Netherlands government and planning extensive layoffs after losing €1-billion ($1.59-billion Canadian) last year. ING Canada's quarterly performance compared with a year-earlier profit of $95.8-million, or 77 cents a share, and the company attributed the red ink to a $185.8-million impairment to its portfolio of common stocks ''as a result of the deep and prolonged drop in value of Canadian equities.'' Revenue for the quarter was $956-million, down from $1.09-billion. IIC (TSX) rose 5 cents (Canadian) to $31.38.
FULL STORY
|
|
| Drugs distributor bids on Quebec chain
|
|
JOHN PARTRIDGE
|
Tuesday, January 20, 2009
|
North American pharmaceutical distributor McKesson Corp. said yesterday that it has offered to buy Montreal-based drugstore chain operator Uniprix Inc., turning up the heat in the battle for market share in Quebec.
FULL STORY
|
|
| U.S. most risky market, exporters say
|
|
JOHN PARTRIDGE
|
Friday, January 16, 2009
|
In a dramatic shift, Canadian exporters now see the United States as their riskiest market, the first time it has surpassed Asia in this category, a federal agency said yesterday.
FULL STORY
|
|
| Sprott closes door on molybdenum fund
|
|
John Partridge
|
Saturday, January 10, 2009
|
Canadian commodities guru Eric Sprott has decided to kill off his pioneering molybdenum fund less than two years after launching it, in the wake of plunging prices and dismal prospects for the steel-hardening metal. Sprott Molybdenum Participation Corp. said yesterday that following a strategic review announced last month, its board of directors has determined that distributing its assets to shareholders would be in their and the company's best interests. The company, which went public at $5 a share in April, 2007 - raising $189-million in its initial public offering - said its net asset value was $1.75 a share as of this Wednesday, with $1.51 of that held in cash and short-term securities, net of liabilities. MLY (TSX) rose 18 cents to $1.57.
FULL STORY
|
|
| Don't reprice options: Teachers
|
|
JOHN PARTRIDGE
|
Friday, January 09, 2009
|
One of Canada's biggest pension funds is urging companies not to reprice stock options or change other types of equity-based compensation to make up for the drubbing their share prices may have taken in the global meltdown of financial markets.
FULL STORY
|
|
| Forecast predicts housing 'correction'
|
|
JOHN PARTRIDGE
|
Wednesday, January 07, 2009
|
Average Canadian house prices will fall by another 3 per cent in 2009, but the drop will add up to a ''correction,'' not the sort of ''crash'' that has crushed the U.S. market, real estate brokerage Royal LePage Real Estate Services said yesterday.
FULL STORY
|
|
| Inflation increase surprises economists
|
|
JOHN PARTRIDGE
|
Saturday, December 20, 2008
|
Core inflation was sharply higher than expected in November, making it less likely that the Bank of Canada will emulate its U.S. counterpart and chop interest rates to zero, economists say.
FULL STORY
|
|
| Nexen to buy larger stake in Long Lake project
|
|
JOHN PARTRIDGE
|
Thursday, December 18, 2008
|
Nexen Inc. has thrown a $735-million lifeline to cash-strapped OPTI Canada Inc. by agreeing to buy a big chunk of the much smaller company's stake in their Long Lake oil sands joint venture.
FULL STORY
|
|
| Yamana boosts share issue hours after announcement
|
|
John Partridge
|
Thursday, December 11, 2008
|
Canadian miner Yamana Gold Inc. boosted the size of a bought-deal equity issue to $135-million from $115.2-million yesterday, just less than three hours after first announcing the new common share offering. The Toronto company said it had increased the size of the planned issue by 5.8 million shares to 22.5 million shares, while eliminating a 2.5 million share overallotment offering it had originally granted the investment dealers who are buying the issue to resell it. The gold miner and its underwriters priced the offering unchanged at $6, 60 cents below the company's closing price in Toronto Tuesday. YRI (TSX) rose 56 cents to $7.16 on high volume of 38 million shares.
FULL STORY
|
|
| Nexen output to rise, spending to fall in '09
|
|
JOHN PARTRIDGE
|
Thursday, December 11, 2008
|
Oil and gas producer Nexen Inc., the subject of a recent round of takeover speculation, expects to spend about 15 per cent less on capital projects in 2009 than this year while boosting production about 10 per cent.
FULL STORY
|
|
| CIBC earnings dive, but shares gain ground
|
|
JOHN PARTRIDGE
|
Friday, December 05, 2008
|
Canadian Imperial Bank of Commerce had a profit of $436-million or $1.06 a share in the fourth quarter, down from $884-million or $2.53 a year earlier, as fallout from the U.S. subprime mortgage debacle continued to take its toll.
FULL STORY
|
|
| Debt ills put Bow Valley up for sale
|
|
JOHN PARTRIDGE
|
Saturday, November 29, 2008
|
Bow Valley Energy Ltd. put itself on the auction block yesterday, weighed down by a fast-approaching deadline for paying down debt and a plunge in its stock market value in the midst of the global financing crunch.
FULL STORY
|
|
| 'Mark-to-market' accounting rules fuel debate
|
|
JANET McFARLAND AND JOHN PARTRIDGE
|
Thursday, November 20, 2008
|
Two Canadian financial heavyweights have taken up opposite corners in the raging debate over controversial ''mark-to-market'' accounting rules and their role in fuelling the current economic crisis.In a lecture to the C.D. Howe Institute in Toronto, David Dodge, the former Bank of Canada governor, called for the accounting standards to be scrapped, blaming them for amplifying market gyrations and exacerbating the volatility of profits reported by financial institutions. Nick Le Pan, the former federal banking regulator, told another audience that the crisis would have been worse without the current rules.
FULL STORY
|
|
|
|
|
|
 |
Newswires |
 |
| |
|
|
|
© Copyright 2008 CTVglobemedia Publishing Inc. All Rights Reserved.
