CALGARY/TORONTO (Reuters) – Canada’s Encana Corp (ECA.TO: Quote, Profile, Research) said on Monday it will buy Athlon Energy Inc (ATHL.N: Quote, Profile, Research) for $5.93 billion in cash, taking aim at Athlon’s oil-rich lands in Texas’s Permian Basin and at jump-starting its plan to boost output of lucrative oil and natural-gas liquids.
Encana, Canada’s largest natural-gas producer, is offering $58.50 per Athlon share, a 25 percent premium on the stock’s Friday closing price. The deal would give the Calgary-based company control of about 140,000 acres in the oil-rich Permian Basin, where Encana says it can raise liquids output by two thirds, to 50,000 barrels per day, by 2015.
TORONTO (Reuters) – Even as BlackBerry pivots to focus more on software and services, the company that gained fame for its smartphones is not giving up on its handset business, two senior executives said.
After recording a gross profit from its weakened handset operation and with roughly 50 million people globally still using its older-generation BlackBerry phones, there is potential in that business, the executives said.
TORONTO, Sept 29 (Reuters) – Canada’s largest natural gas
producer Encana Corp said on Monday it has agreed to
buy Athlon Energy for $5.93 billion in cash, as it
accelerates its plan to focus on more lucrative oil and
natural-gas liquids (NGLs).
The deal, which gives Calgary-based Encana control of about
140,000 net acres in the oil-rich Permian Basin in Texas, adds
another core region to the six shale fields where Encana is
concentrating its spending.
TORONTO, Sept 26 (Reuters) – BlackBerry Ltd
reported a smaller quarterly loss on Friday and flashed
encouraging signals about its hard-pressed smartphone business
as well as its software and services sales, spurring a 7 percent
jump in its shares.
The Canadian company, a smartphone pioneer pushed to the
margins by Apple Inc’s iPhone and devices running
Google Inc’s Android software, is now focusing more on
software and services than on hardware as it works through a
TORONTO (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz) (BBRY.O: Quote, Profile, Research, Stock Buzz) reported a much smaller-than-expected quarterly loss on Friday and said it was concentrating on growth and investments, even as concerns about weak revenue linger.
The Waterloo, Ontario-based company, which is pivoting to focus more on software and services as part of a drawn-out turnaround, also reported a huge number of conversions onto its heavily promoted new mobile device management platform.
TORONTO (Reuters) – BlackBerry Ltd’s launch of its square-screened Passport device may have grabbed headlines this week, but it was the tech company’s lower-profile roll out of the new Blend feature that appears to be garnering the plaudits.
Even as reviewers and analysts were torn on the prospects of the unconventionally shaped Passport, they were brimming with praise for Blend, which lets users seamlessly bridge messaging and content between a host of devices irrespective of operating systems.
TORONTO, Sept 24 (Reuters) – BlackBerry
launched an unconventional new smartphone dubbed the Passport on
Wednesday as it embarked on what may be the most critical phase
of its long turnaround push.
At simultaneous events in Toronto, London and Dubai,
BlackBerry showed off the device, which is the size and shape of
a closed passport, with a large square touchscreen as well as a
keyboard. The Passport comes to market as the phones of
BlackBerry’s rivals converge on a single profile, with tall,
rectangular screens and smooth corners.
TORONTO (Reuters) – BlackBerry is set to launch an unconventional new smartphone dubbed the Passport on Wednesday, as it embarks on potentially the most critical phase of its long turnaround.
The one-time smartphone industry pioneer recently concluded a three-year long restructuring process and has largely halted the bleed, but it is now up to Chief Executive John Chen to prove that the company’s new devices and services are capable of generating sustainable new streams of revenue and returning it to profitability.
TORONTO (Reuters) – U.S. Steel Corp’s move to seek creditor protection for its Canadian operations throws into question the fate of the more than a century old steel operations in Hamilton, Ontario.
U.S. Steel acquired the Canadian operations – including the Hamilton assets and the newer Lake Erie facilities in Nanticoke, Ontario – through its acquisition of Stelco Inc in 2007. The Canadian operation was soon bleeding red ink, however, as demand for steel declined following the financial crisis.
TORONTO, Sept 19 (Reuters) – Canadian pipeline operator
TransCanada Corp said on Friday its current corporate
structure, asset base and financial strength are critical to its
ability to maneuver and deliver on its growth strategy.
The statement followed a Reuters report on Thursday that a
number of U.S. hedge funds were reviewing the pipeline operator
as a potential break-up candidate.