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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.

Sep 18, 2013

BlackBerry plans deep job cuts as new phone launches: report

TORONTO (Reuters) – BlackBerry Ltd plans to slash thousands of jobs by the end of the year, the Wall Street Journal reported on Wednesday, just as the company launches a flagship smartphone intended to revive its fortunes.

Citing unnamed people familiar with the matter, the article said BlackBerry could cut up to 40 percent of its staff and the layoffs will happen across job functions and likely occur in waves.

Sep 18, 2013

BlackBerry unveils the Z30 as its new flagship smartphone

TORONTO, Sept 18 (Reuters) – BlackBerry Ltd
launched its new Z30 flagship smartphone on Wednesday, as it
battles to win back market share despite uncertainty around its
future.

Once a pioneer in the smartphone arena, BlackBerry said last
month it was weighing options that could include an outright
sale, in the face of lacklustre sales for its new devices that
run on the BlackBerry 10 operating system.

Sep 10, 2013

Richardson GMP eyes further growth beyond Macquarie deal

TORONTO, Sept 10 (Reuters) – Richardson GMP aims to increase
its assets under management to over C$30 billion ($28.9 billion)
after the acquisition of Macquarie Group’s Canadian retail
business, the wealth management firm’s head Andrew Marsh said on
Tuesday.

Richardson GMP, in which financial services firm GMP Capital
owns a non-controlling ownership interest, said late on
Monday that it plans to buy Macquarie Private Wealth for about
C$132 million ($127.3 million).

Sep 5, 2013

Ainsworth deal lifts stocks of rival wood product firms

TORONTO (Reuters) – Shares of Canadian wood product companies rallied on Thursday as investors bet that Louisiana-Pacific Corp’s (LPX.N: Quote, Profile, Research, Stock Buzz) purchase of Ainsworth Lumber Co (ANS.TO: Quote, Profile, Research, Stock Buzz) pointed at the potential for further consolidation within the sector.

The C$906 million ($864 million) deal, announced late on Wednesday, is also likely to trim the extreme volatility for the price of oriented strand board, widely used in home building.

Sep 3, 2013

Canadian telecom majors’ shares surge as Verizon threat fades

TORONTO, Sept 3 (Reuters) – Shares in Canada’s big three
wireless providers – BCE Inc (BCE.TO: Quote, Profile, Research), Rogers Communications Inc
(RCIb.TO: Quote, Profile, Research) and Telus Corp (T.TO: Quote, Profile, Research) – surged on Tuesday after
Verizon Communications (VZ.N: Quote, Profile, Research) disclosed that it no longer plans
a foray into Canada.

Verizon had been sniffing around a possible move into Canada
for months. But shortly after clinching a mega $130 billion deal
to buy Vodafone Group (VOD.L: Quote, Profile, Research) out of its U.S. wireless business
on Monday, the U.S. telecom giant made clear it will not enter
the Canadian market for now. [ID:nL2N0GY178]

Sep 3, 2013

BlackBerry shares rise as Microsoft-Nokia move sparks hope for deal

TORONTO (Reuters) – Shares of struggling smartphone maker BlackBerry Ltd rose as much as 3.6 percent on Tuesday after Microsoft’s move to acquire Nokia’s handset business reignited investor optimism that BlackBerry too would find a buyer.

BlackBerry officially put itself on the block a few weeks ago in the face of lackluster sales for its new line of smartphones, and some analysts have been skeptical about whether it would be able to attract bidders as its business has shrunk.

Aug 30, 2013

Bombardier’s CSeries aircraft receives flight test permit

TORONTO, Aug 30 (Reuters) – Bombardier Inc said on
Friday its CSeries aircraft had received a flight test permit
from Transport Canada, paving the way for the delayed maiden
flight of the narrow-body jet.

Montreal-based Bombardier, which has already delayed the new
aircraft’s maiden flight three times, did not provide a specific
date for the voyage, saying merely that the flight will occur in
the coming weeks.

Aug 22, 2013

Barrick to sell three Australian mines to Gold Fields

TORONTO/JOHANNESBURG, Aug 22 (Reuters) – Barrick Gold Corp
, the world’s largest gold producer, on Thursday said it
has agreed to sell three of its high-cost gold mines in
Australia to Gold Fields Ltd for $300 million.

The sale is the latest move by Toronto-based Barrick to
re-shape its portfolio and focus on lower cost assets, as it
seeks to shore up its balance sheet in the face of weaker metal
prices and ballooning capital expenditure costs at its
Pascua-Lama gold project high in the South American Andes.

    • 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."
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