By Euan Rocha
(Reuters) – Research In Motion Ltd plans to introduce its new line of BlackBerry 10 smartphones on January 30, the company said on Monday, giving investors a measure of confidence that the long-awaited devices are nearing completion.
The Waterloo, Ontario-based company, a one-time pioneer in the smartphone industry, is betting its future on the new products, which will be powered by its new BlackBerry 10 operating system. Its shares rose 5.5 percent to $9.01 in trading before the U.S. stock markets opened.
TORONTO, Nov 9 (Reuters) – Canadian home-improvement
retailer and distributor Rona Inc, which earlier this
year rejected a takeover offer from U.S.-based rival Lowe’s Cos
Inc, said on Friday that Chief Executive Robert Dutton
was stepping down, a surprise move that came two days after
Rona said Chief Financial Officer Dominique Boies would
serve as acting CEO while the company looks for a successor.
Rona shares jumped amid speculation that the Quebec-based
company might be in play.
TORONTO (Reuters) – Research In Motion Ltd said on Thursday it won a much-coveted U.S. government security clearance for its yet-to-be-launched platform for BlackBerry 10 devices, due to hit store shelves in the first quarter of 2013.
The company said its BlackBerry 10 platform has received the FIPS 140-2 certification that would allow government agencies to deploy the devices, along with the new enterprise management platform on which they run, as soon as the new smartphones are launched.
TORONTO, Oct 23 (Reuters) – Royal Bank of Canada
has agreed to buy the Canadian auto finance and deposit
arm of Ally Financial Inc in a $4.1 billion deal to expand its
vehicle-lending business at a time when loan growth overall is
slowing in the country.
Canada’s largest bank said on Tuesday the deal would give a
big boost to its existing domestic consumer and commercial auto
financing business, and position it as a leader in the segment.
TORONTO, Oct 22 (Reuters) – Canada rejected Malaysian state
oil company Petronas’ bid for Progress Energy
Resources Corp under the terms of the Investment Canada
Act – an opaque piece of legislation created, in part, to draw
more foreign investment into Canada.
The act gives the industry minister the power to review any
major takeover of a Canadian company by a foreign investor to
determine if the deal is of “net benefit” to Canada.
CALGARY/TORONTO, Oct 22 (Reuters) – Progress Energy
Resources Corp and Petronas said they will
meet with Canadian officials to try to reverse the government’s
surprise decision late on Friday to block their $5.2 billion
Petronas, the Malaysian state oil company, agreed on Monday
to extend its deadline to close the acquisition of Progress,
which has extensive exploration lands in the gas-rich Montney
shale region of British Columbia, by up to 90 days.
CALGARY/TORONTO (Reuters) – Canadian markets could face a bloody opening on Monday after the government blocked the C$5.17 billion ($5.22 billion) acquisition of Progress Energy Resources Corp (PRQ.TO: Quote, Profile, Research, Stock Buzz) by Malaysian state oil company Petronas PETR.UL, raising questions about other, bigger bids and about Canada’s willingness to let foreign investors in.
Canadian Industry Minister Christian Paradis said late Friday night that Petronas’ bid for Progress — one of the largest owners of exploration lands in the gas-rich Montney shale region in northeastern British Columbia — would not provide the “net benefit” for the country required by Canada’s foreign investment laws.
CALGARY/TORONTO, Oct 21 (Reuters) – Canada could still
approve the C$5.17 billion ($5.22 billion) acquisition of
Progress Energy Resources Corp by Malaysian state oil
company Petronas, the country’s finance minister said
on Sunday, despite blocking the bid late last week.
While observers predict a chaotic market reaction following
the federal government’s statement late on Friday that the deal
did not provide the “net benefit” required from foreign buyers
under the Investment Canada Act, Finance Minister Jim Flaherty
said on Canadian television that negotiations continue.
TORONTO/KUALA LUMPUR, Oct 20 (Reuters) – Canada has blocked
Malaysian state oil firm Petronas’ C$5.17 billion ($5.2 billion)
bid for gas producer Progress Energy Resources in a
surprise move that could signal problems for a much larger
Chinese deal in the country’s energy sector.
Canada’s announcement late on Friday, minutes before a
deadline, was a blow to Petronas, whose domestic oil
supplies are shrinking and which has been seeking to boost its
resources beyond Malaysia and volatile areas such as Sudan.
TORONTO (Reuters) – Canada blocked Malaysian state oil company Petronas’ C$5.17 billion ($5.22 billion) bid for gas producer Progress Energy Resources Corp on Friday, a surprise ruling that could have implications for a much bigger offer by China’s state-owned CNOOC for oil producer Nexen Inc.
“I can confirm that I have sent a notice letter to Petronas indicating that I am not satisfied that the proposed investment is likely to be of net benefit to Canada,” Christian Paradis, Canada’s minister of industry, said in a late-night statement.