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Feb 5, 2014

Canada ice storm slams Intact Financial profit

TORONTO, Feb 5 (Reuters) – Intact Financial Corp,
Canada’s largest property and casualty insurer, reported a
larger-than-expected drop in fourth-quarter profit as a winter
ice storm hurt underwriting results.

Shares of Intact, which also raised its quarterly dividend
by 9 percent, fell 1.1 percent on the results.

Jan 30, 2014

In double legal trouble, Bieber tests positive for pot, meds

TORONTO/MIAMI BEACH (Reuters) – Teen pop star Justin Bieber, facing charges in the United States and Canada, had pot and anti-anxiety medication in his system when arrested in Florida last week but told police his mother “takes care” of his prescriptions, according to official reports released Thursday.

Bieber was charged late on Wednesday with assaulting a limousine driver in Toronto and the Toronto Star newspaper reported Thursday that the driver in the alleged assault in December quit his job “in shock” following the incident.

Jan 30, 2014

Canadian limo driver allegedly assaulted by Bieber quit his job: report

TORONTO (Reuters) – The limousine driver alleged to have been assaulted by teen popstar Justin Bieber quit his job following the December incident, the manager of the limo company told the Toronto Star in an article published on Thursday.

The driver is “in shock. Something like this does not happen in Toronto,” Tony Albert, manager of Park Lane Livery limousines, told the newspaper. He said the driver was middle-aged and new to the position, but he declined to disclose his identity on the advice of legal counsel.

Jan 23, 2014

Toronto Mayor Ford stuck in elevator as lunch audience waits

TORONTO (Reuters) – Toronto Mayor Rob Ford lived up his reputation for surprises on Thursday when he got stuck in a hotel elevator for nearly an hour while a room full of the city’s business elite waited impatiently for him to deliver a speech.

The mishap, which delayed his arrival at an C$89-a-plate ($80) business lunch, comes just two days after a video emerged showing Ford ranting, putting on a Jamaican accent, and using profanities to describe Toronto’s police chief. On Tuesday, Ford admitted he had consumed alcohol when the video was shot on Monday night, despite his pledge late last year to quit drinking.

Jan 21, 2014

Toronto mayor, caught ranting on video, admits drinking a ‘little bit’

TORONTO (Reuters) – Toronto Mayor Rob Ford, who pledged last year to go clean after a crack-smoking scandal, admitted on Tuesday he had been drinking again after a video surfaced of him ranting about police surveillance in a mock Jamaican accent in a suburban eatery.

Asked by reporters outside his office at city hall if he had been drinking, Ford said, “Yes I was … Little bit, yeah.”

Jan 9, 2014

RBC leads banks in slow year for Canada M&A, share issues

TORONTO, Jan 9 (Reuters) – Royal Bank of Canada led
investment banks in advising on equity issues and mergers and
acquisitions in Canada in 2013, but share issues overall rose
only slightly in the year and M&A activity fell hard.

In a year in which gold prices plunged and base-metal and
oil industry activity was hit by uncertainty over global
economic growth, the total value of M&A deals in 2013 fell by 31
percent to US$144.7 billion, according to data released by
Thomson Reuters on Thursday.

Jan 9, 2014

RBC leads banner year in Canadian debt markets

TORONTO, Jan 9 (Reuters) – Low interest rates and favorable
market conditions spurred a banner year for corporate and
government debt issues in Canada in 2013, with Royal Bank of
Canada emerging as the big winner among banks that worked
on the deals.

RBC, Canada’s largest bank, was the lead book runner on the
lion’s share of the issues, accounting for about 22 percent of
overall debt deal volumes in 2013, according to data released by
Thomson Reuters on Thursday.

Dec 12, 2013

Scotiabank CEO Porter says won’t make U.S. buy

TORONTO, Dec 12 (Reuters) – Bank of Nova Scotia’s
new chief executive, Brian Porter, said the lender will not
follow the lead of competitors that have sought to expand their
retail banks through U.S. acquisitions, but will instead push to
grow within its current Canadian, Latin American and Asian

“Are we going to make a (U.S.) acquisition on the retail
side? The answer’s ‘no’,” he told Reuters in an interview on

Dec 10, 2013

Bain Capital buys majority stake in parka maker Canada Goose

TORONTO, Dec 10 (Reuters) – Bain Capital, the U.S. private
equity firm, has bought a majority stake in Canada Goose Inc, a
family-owned company which had been seeking an investor to help
it meet demand for its high-end cold-weather gear.

The two companies did not disclose the purchase price or the
size of the majority stake bought by Bain, but said in a
statement on Tuesday that Canada Goose Chief Executive Dani
Reiss will remain in his position and maintain a “significant”
stake in the company.

Dec 6, 2013

Scotiabank profit rises on ING deal

TORONTO (Reuters) – Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) reported a 12 percent rise in quarterly profit due to its acquisition last year of online bank ING Direct, but the results were marred by a sluggish performance at its international and investment banking units.

The results from Scotiabank, Canada’s No. 3 lender, cap off a fourth-quarter earnings period that saw the country’s top lenders benefit from steady if unspectacular growth in domestic lending and strong wealth management returns.