Correspondent, Toronto, Canada
Alastair's Feed
Oct 25, 2013
Oct 25, 2013

TSX on track for 3rd straight 1 pct weekly gain

TORONTO, Oct 25 (Reuters) – Canada’s main stock index made
minor gains on Friday, with higher energy and financial stocks
more than offsetting a pullback in gold miners and other
materials stocks.

Gold miners, which made strong gains a day earlier driven by
strong results and higher bullion prices, pulled back. Goldcorp
Inc slipped 0.8 percent to C$27.55 and Barrick Gold Corp
was off 0.9 percent at C$20.78.

Oct 24, 2013

Pricing changes dent Rogers wireless revenue; profit up

TORONTO, Oct 24 (Reuters) – Rogers Communications Inc
said on Thursday third-quarter revenue slipped at its
wireless unit, the company’s biggest business, due to pricing
revisions, even as its profit squeaked past expectations.

Canada’s largest wireless company, which has some 9.5
million mobile customers, said revenue was crimped by new,
lower-priced roaming plans, while phone sales also dropped and
fewer people signed up for service.

Oct 23, 2013

Canada’s Telus agrees to buy start-up Public Mobile

TORONTO, Oct 23 (Reuters) – Canadian telecom company Telus
said on Wednesday it has agreed to buy 100 percent of
struggling startup Public Mobile from private equity firm
Cartesian Capital and Thomvest Seed Capital, a Toronto-based
investment vehicle backed by Peter Thomson.

The terms of the deal were not disclosed.

The Canadian government said in a separate statement that it
has approved the transfer of Public’s spectrum licenses to
Telus, paving the way for the deal to proceed.

Oct 23, 2013

TSX’s 6-day rally ends despite railway gains

TORONTO, Oct 23 (Reuters) – Canada’s main stock index
slipped on Wednesday, ending a six-session rally, as strong
results from the country’s two big railways failed to offset
heavy losses in banking, energy and mining stocks.

“It’s a bipolar market today. It’s difficult for the index
to get any traction when the three biggest groups are down,”
said Elvis Picardo, portfolio manager at Global Securities in
Vancouver.

Oct 23, 2013

Railways help TSX make slight gains; resources weigh

TORONTO, Oct 23 (Reuters) – Canada’s main stock index eked
out a small gain in morning trade on Wednesday as strong results
from the country’s two biggest railways offset losses in energy
and mining companies.

Canadian Pacific Railway Ltd, Canada’s No. 2 rail
operator, surged 6.2 percent to C$143.20 after reporting a 45
percent jump in profit as freight revenue rose and operating
costs fell.

Oct 22, 2013
Oct 17, 2013

Gold miner surge pushes TSX to 2-year high

TORONTO, Oct 17 (Reuters) – Canada’s main stock index closed
at its highest level in more than two years on Thursday, led by
gold miners, as investors assumed the ill effects of the 16-day
U.S. government shutdown would force the Federal Reserve to
maintain its monetary stimulus.

The U.S. Congress on Wednesday approved an 11th-hour deal to
end the shutdown and pull the world’s biggest economy back from
the brink of a historic debt default that could have threatened
financial calamity.

Oct 17, 2013

TSX gains as gold miners surge after U.S. debt deal

TORONTO, Oct 17 (Reuters) – Canada’s main stock index moved
slightly higher on Thursday as investors seemed unimpressed with
the short-term deal reached to avoid a U.S. debt default and
bought into gold and its miners on an expected delay to U.S.
stimulus reduction.

The U.S. Congress on Wednesday approved an 11th-hour deal to
end a 16-day partial government shutdown and pull the world’s
biggest economy back from the brink of a historic debt default
that could have threatened financial calamity.

Oct 16, 2013

Telecom tycoon says Ottawa’s policy imperils Wind, foreign investment

TORONTO, Oct 16 (Reuters) – Lack of clarity around Ottawa’s
telecommunications policy has jeopardized foreign investment in
Canada and cast doubt over the future of Wind, the largest new
player in the Canadian wireless market, said Egyptian telecom
magnate Naguib Sawiris on Wednesday.

Sawiris bankrolled the start-up of new telecom player Wind
Mobile in 2008, but he lost his ties with the company after his
controlling stake in Orascom was sold to European telecoms firm
Vimpelcom Ltd in 2011.

    • 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."
      Hometown:
      Melbourne, Australia
      Joined Reuters:
      2007
      Languages:
      English, Arabic
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