Euan's Feed
Oct 14, 2013

Talks between union and CN Rail break down, strike looms

TORONTO, Oct 14 (Reuters) – Talks between the railroad
workers’ union and Canadian National Railway Co have
broken down, raising the possibility of a strike or a lockout by
Oct. 28 at the country’s largest railroad operator, the union
said on Monday.

The Teamsters Canada Rail Conference, which represents some
3,300 conductors, trainmen, yardmen and traffic coordinators,
said the company rejected the union’s offer to extend
conciliation talks that ended on Oct. 7.

Oct 11, 2013

Exclusive: Glencore, Vale in talks over Canadian nickel tie-up – sources

LONDON/TORONTO (Reuters) – Glencore Xstrata (GLEN.L: Quote, Profile, Research, Stock Buzz) and Vale (VALE5.SA: Quote, Profile, Research, Stock Buzz) have revived talks over a potential combination of the mining groups’ nickel operations in Canada’s Sudbury basin, in an effort to cut costs as prices for the metal languish, sources familiar with the situation said.

The discussions are still at an early stage but have revived hopes of a long-debated Sudbury tie-up, with the companies considering a number of options for their mining and processing operations in the area, the sources said.

Oct 9, 2013

Analysis: Canada veto complicates BlackBerry, telecom deal making

TORONTO (Reuters) – When Canada blocked the sale of a fiber optic network to a company backed by an Egyptian telecom tycoon this week, it telegraphed its resolve to make national security paramount when considering whether to allow a foreign firm to acquire what it considers a strategic asset.

That warning may effectively limit the pool of would-be buyers of BlackBerry Ltd or foreigners interested in Canada’s telecom industry, and it could rule out all but a few well-established players based in North America, industry executives, lawyers and analysts say.

Oct 9, 2013

Canada veto complicates BlackBerry, telecom deal making

TORONTO, Oct 9 (Reuters) – When Canada blocked the sale of a
fiber optic network to a company backed by an Egyptian telecom
tycoon this week, it telegraphed its resolve to make national
security paramount when considering whether to allow a foreign
firm to acquire what it considers a strategic asset.

That warning may effectively limit the pool of would-be
buyers of BlackBerry Ltd or foreigners
interested in Canada’s telecom industry, and it could rule out
all but a few well-established players based in North America,
industry executives, lawyers and analysts say.

Oct 8, 2013

Talisman shares drop as investors question Icahn effect

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares fell on Tuesday as investors raised doubts that activist investor Carl Icahn would be able to force dramatic changes on the struggling Canadian oil producer.

Icahn disclosed a 6 percent stake in Talisman late on Monday, making him its second-largest shareholder, according to Reuters data. It is the second time Icahn has taken a position in Talisman. He acquired 4.8 million shares in 2007, when the company was facing pressure to boost its share price.

Oct 8, 2013

Icahn ignites Talisman stock, but longer-term doubts linger

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares rallied in trading before the bell on Tuesday on news that Carl Icahn has built a stake in the company, but doubts remain about whether the billionaire investor will be able to force dramatic changes.

Investors and analysts see Icahn’s involvement in Talisman breathing life into the stock in the short-term, but many are wary, as the company has been working through a restructuring process under new management for over a year now and the results so far have been mixed at best.

Oct 8, 2013

Canada blocks network sale to Egypt’s Sawiris, citing security

TORONTO, Oct 7 (Reuters) – The Canadian government said on
Monday it blocked a bid from a company controlled by Egyptian
telecom tycoon Naguib Sawiris to buy a fiber optic network,
citing national security concerns.

The surprise move by the country’s Conservative government
was made with little explanation and comes as many question its
appetite for foreign investment in sectors ranging from
telecommunications to oil sands.

Sep 21, 2013

BlackBerry warns of big loss, 4,500 job cuts; shares dive

TORONTO (Reuters) – BlackBerry Ltd warned on Friday it expects to report a huge quarterly operating loss next week and that it will cut more than a third of its global workforce, rekindling fears of the company’s demise and sending its shares into a tailspin.

The company, which has struggled to claw back market share from the likes of Apple Inc’s iPhone and Samsung Electronics Co Ltd’s Galaxy phones, said it expects to report a net operating loss of between $950 million and $995 million in the quarter ended August 31, due to writedowns and other factors.

Sep 20, 2013

BlackBerry warns of big loss, to cut 4,500 jobs; shares dive

TORONTO (Reuters) – BlackBerry Ltd warned on Friday it expects to report a huge quarterly operating loss next week and that it will cut more than a third of its workforce, rekindling fears of the company’s demise and sending its shares into a tailspin.

The company, which has struggled to claw back market share from the likes of Apple’s iPhone and Samsung Electronics Co Ltd’s Galaxy phones, said it expects to report a net operating loss of about $950 million (593 million pounds) to $995 million for the quarter ended August 31, due to writedowns and other factors.

Sep 20, 2013

BlackBerry warns of huge quarterly loss, to slash jobs

TORONTO (Reuters) – BlackBerry Ltd warned on Friday that it expects to report a huge second-quarter operating loss next week and that it plans to cut more than a third of its workforce.

The company, which has struggled to claw back market share from the likes of Apple Inc’s iPhone, Samsung Electronics Co Ltd’s Galaxy phones, said it expects to report a net operating loss of about $950 million to $995 million in the quarter ended August 31, due to writedowns and other factors.

    • About Euan

      "Euan Rocha covers mining and minerals in Canada, where he focuses on gold, base metals and fertilizer companies. Euan, who is currently based in Toronto, has previously worked with Reuters in the United States and India. While based in New York for four years, Euan headed the Reuters Alerts team, before moving on to cover the U.S. chemical industry. Euan began his career with Reuters in Bangalore, India in 2004."
    • Follow Euan