TORONTO (Reuters) – A Canadian law firm said it filed a lawsuit against Fiat Chrysler Automobiles (FCHA.MI: Quote, Profile, Research, Stock Buzz) on Wednesday seeking about $4 billion in damages, in connection with the massive recall announced by the automaker earlier in July.
Merchant Law Group said the lawsuit, which seeks class action status, was filed in the Superior Court in Montreal. It said it plans to file claims later this week in courts in Ontario, British Columbia, Saskatchewan and Nova Scotia.
TORONTO, July 27 (Reuters) – Deal-making activity in
Canada’s venture capital and private equity arena surged in the
first half of 2015, driven by a spate of financings in the tech
start-up space and large investments in energy assets, data from
Thomson Reuters showed on Monday.
The data indicates there was C$636 million ($488.48 million)
in venture capital invested in 143 deals in the second quarter,
a sum that was 15 percent higher than that invested by VC firms
in the first quarter.
TORONTO, July 24 (Reuters) – Canadian mining-focused
investment bank Edgecrest Capital has put itself on the auction
block, hurt by a prolonged downturn in the natural resource
sector that has hit fees and activity, according to two sources
familiar with the situation.
The move comes two years after Toronto-based Edgecrest,
which is led by investment banker David Beatty, opened shop. The
company acquired boutique dealer Stonecap Securities Inc and its
U.S. unit last year and made some hires earlier this year.
NEW YORK (Reuters) – BlackBerry Ltd on Thursday showcased a suite of security products that safeguard everything from medical devices to Hollywood movie scripts, though its CEO acknowledged that his effort to transform the company remains a work in progress.
The Waterloo, Ontario-based company, whose smartphone market share has dwindled, is attempting to morph into a more software-focused entity.
TORONTO (Reuters) – BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) said on Wednesday it is buying privately-held AtHoc, a provider of secure, networked crisis communications, as it moves to broaden its software offering and generate revenue from its BBM messaging service.
San Mateo, California-based AtHoc’s services are used by a number of top clients including the U.S. Department of Defense, Homeland Security and a host of blue-chip companies, to provide software that seamlessly allows them to reach staff via their smartphones, or via digital displays, radios, and even sirens, in times of crisis. Its services help organizations and people share information during business continuity and rescue efforts.
TORONTO (Reuters) – Infidelity website AshleyMadison.com, 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.
TORONTO, July 20 (Reuters) – Fairfax Financial Holdings Ltd
said on Monday it has postponed a special shareholders’
meeting that had been called to vote on a change that would
preserve Chairman Prem Watsa’s voting stake in the company he
has built and run for more than three decades.
The Canadian financial services company’s vote, originally
scheduled for July 21, has been postponed until Aug. 13.
TORONTO, July 16 (Reuters) – Canadian automotive parts maker
Magna International Inc said on Thursday it will buy
privately owned German car parts maker Getrag for 1.75 billion
euros ($1.9 billion), in a bid to expand its automotive
transmission systems business.
The move is also part of Aurora, Ontario-based Magna’s plan
to win market leadership in certain key vehicle parts. Earlier
this year, Magna sold most of its automotive interiors unit to
Spain’s Grupo Antolin for $525 million.
TORONTO (Reuters) – BlackBerry Ltd named Carl Wiese as head of global sales on Monday, an appointment that comes at a critical juncture for the former smartphone leader, which needs to spur top-line growth for its turnaround efforts to succeed.
Wiese has spent the past 12 years at Cisco Systems Inc, initially heading advanced technology sales and later Cisco’s collaboration-product sales efforts. At BlackBerry, he replaces John Sims as global head of sales. BlackBerry did not provide any reasons for the departure of Sims, who was at the company for about 18 months.
TORONTO (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz), which has been coy about its ambitions to make a mainstream Android smartphone, fueled more speculation about its plans this week when it scooped up two Android-related domain names.
Several blog posts in the last two days have noted that the Canadian handset maker bought the domain names “AndroidSecured.com” and “AndroidSecured.net” this week. That spurred more chatter that it intends to build a device powered by Google Inc’s (GOOGL.O: Quote, Profile, Research, Stock Buzz) Android platform, which powers the vast majority of smartphones sold across the globe.