Correspondent, Toronto, Canada
Alastair's Feed
Jul 29, 2015

TSX jumps as investors cheer oil data; Fed in spotlight

TORONTO, July 29 (Reuters) – Canada’s main stock index
jumped on Wednesday, helped by gains in banks, railways and oil
companies as crude prices bounced from near six-month lows and
the Federal Reserve left the door open for a September interest
rate hike.

The U.S. central bank said the economy and job market of
Canada’s main trading partner continues to strengthen, which was
seen as a baby step toward higher rates.

Jul 29, 2015

CGI exiting low-margin markets, eyes M&A in cyber security

TORONTO (Reuters) – CGI Group Inc (GIBa.TO: Quote, Profile, Research, Stock Buzz), the information systems and management consultancy, said on Wednesday it would target acquisitions in cyber security while exiting some markets entirely, as it reported third-quarter profit and revenue that missed estimates.

The company’s chief executive officer said it has compiled a short list of 85 potential acquisition targets that would help it grow by delving deeper into industries, three years after going wide with its Logica acquisition.

Jul 28, 2015

TSX snaps seven-day skid on energy bounce

TORONTO, July 28 (Reuters) – Canada’s main stock index broke
a seven-day slump on Tuesday as investors picked through
earnings reports for glimmers of hope and resource stocks
bounced off recent lows.

The energy sector has lost more than a quarter of its value
since a peak in mid-April. It rose 2 percent on the day, as oil
prices stabilized after a four-day slide.

Jul 28, 2015

TSX scratches higher after seven-day skid

TORONTO, July 28 (Reuters) – Canada’s main stock index edged
higher on Tuesday after a seven-day streak of losses as
investors picked through earnings reports and several resource
stocks got a bounce from recent lows.

BlackBerry Ltd gained 4.8 percent to C$9.96 after
Morgan Stanley upgraded the stock of the smartphone pioneer.

Jul 27, 2015

China worry hits Canada’s TSX hard

TORONTO, July 27 (Reuters) – Canada’s main stock index fell
sharply on Monday, hitting its lowest level since January, in a
broad retreat as heavyweight resource-based companies dipped on
lower commodity prices and the latest plunge in Chinese

The 1.3 percent drop was the seventh straight session of
losses for the Toronto Stock Exchange’s S&P/TSX composite index
, and its first day trading below 14,000 since January.

Jul 23, 2015

Toronto cab drivers sue to halt Uber; seek C$400 million in damages

TORONTO (Reuters) – Toronto taxi drivers are launching a class-action lawsuit against ride-sharing company Uber Technologies Inc [UBER.UL], seeking more than C$400 million ($307.27 million) in damages and an injunction to stop it operating in the Canadian province of Ontario.

Law firm Sutts, Strosberg LLP, which is representing the taxi drivers, said in a statement on Thursday that the named plaintiff, cab driver Dominik Konjevic, alleges that “Uber X and Uber XL have created an enormous marketplace for illegal transportation in Toronto”.

Jul 23, 2015

Canada’s Rogers Communications profit slips, revenue up

TORONTO (Reuters) – Rogers Communications Inc (RCIb.TO: Quote, Profile, Research, Stock Buzz) reported a 10 percent decline in second-quarter net income on Thursday, as the Canadian telecom, cable and media company made progress in its strategy of attracting value over volume in its wireless business.

Toronto-based Rogers posted net income of C$363 million, or 70 Canadian cents a share, in the April-June quarter, compared with C$405 million, or 79 cents a share, a year ago. Its revenue rose almost 6 percent to C$3.4 billion.

Jul 22, 2015

TSX falls as commodities prices drag

TORONTO, July 22 (Reuters) – Canada’s main stock index fell
on Wednesday, weighed down by falls in the shares of major
banks, energy companies and miners as weakness in commodity
markets tainted investor sentiment.

A rise in U.S. oil inventories pushed U.S crude to a
settlement below $50 a barrel for the first time since April.
Brent also fell.

Jul 21, 2015

Infidelity website Ashley Madison faces ‘doomsday scenario’ after hack: bankers

TORONTO (Reuters) – Infidelity website, which has been struggling to launch a London IPO, can kiss goodbye plans for a listing this year, banking sources said on Tuesday, as hackers threatened to publish names and salacious details about its clients unless the website shuts itself down.

The website’s Canadian parent hoped to raise up to $200 million by listing its shares in London this year, five years after a lack of investor appetite caused it to cancel an attempt to list at home.

Jul 20, 2015

Cheating website relieved it is not being judged after hack

TORONTO, July 20 (Reuters) – Cheating spouses website, facing hackers’ threats to leak clients’ nude
photos and sexual fantasies, said it is heartened by some
initial public response that sees the site as a victim.

The website’s Canadian parent, Avid Life Media, confirmed a
breach of its systems that has put the real names, credit card
information and other details of as many as 37 million customers
at risk. Avid Life said it has since secured the sites and
closed unauthorized access points.

    • About Alastair

      "Canada tech, media and telecoms reporter based in Toronto, with emphasis on Research In Motion and including coverage of Rogers, Bell Canada, Telus, the new mobile entrants and the tech companies filling in the gaps. Previously spent two years in Cairo bureau chasing Orascom Telecom's Naguib Sawiris. Prior to that, spent a year learning the ropes in London."
      Joined Reuters:
      English, Arabic
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