Correspondent, Toronto, Canada
Alastair's Feed
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.

Jul 17, 2015

TSX rising streak snapped as resource shares retreat

TORONTO, July 17 (Reuters) – Canada’s main stock index fell
on Friday, snapping a five-session streak of gains as investors
pulled back from mining and oil and gas companies and banks also

With bullion prices hitting a five-year low, Canada’s gold
miners featured prominently in the loss column. Franco-Nevada
Corp gave up 3.4 percent to C$55.75 and Goldcorp Inc
fell 6.1 percent to C$19.10. The index’s materials sector, which
includes miners, fell 2.8 percent.

Jul 16, 2015

TSX notches 5th straight gain as banks bounce

TORONTO, July 16 (Reuters) – Canada’s main stock index
gained on Thursday, with banking stocks leading the way a day
after the central bank cut interest rates, while gold miners
fell as renewed anticipation of a U.S. Federal Reserve rate hike
this year hit bullion prices.

The Toronto Stock Exchange’s S&P/TSX composite index
ended the day up 68.80 points, or 0.47 percent, at
14,731.08. Seven of its 10 main sectors gained.

Jul 16, 2015

TSX gains on boost to banks, Magna deal cheered

TORONTO, July 16 (Reuters) – Canada’s main stock index
gained on Thursday, with banking stocks leading the way a day
after the central bank cut rates, while auto parts maker Magna
International Inc rose after it said it would buy a
German peer.

The most influential boosts included Royal Bank of Canada
, which rose 1.2 percent to C$78.19, and Toronto-Dominion
Bank, which advanced 1 percent to C$53.24.

Jul 14, 2015

TSX rises as oil shares gain after Iran deal

TORONTO, July 14 (Reuters) – Canada’s main stock index rose on Tuesday as
oil and gas stocks gained after a landmark nuclear deal between Iran and six
global powers left sanctions on the country’s crude exports in place for now,
boosting energy prices.

The deal added to cautious optimism in recent sessions about an agreement to
avert Greece’s exit from the euro currency bloc and a rebound in China equities
after a rout.

    • 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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