TORONTO, March 1 (Reuters) – The Canadian government
outlined plans on Sunday to extend for a year exploration tax
credits offered to miners and broaden the scope of the credits,
in an attempt to boost a sector that has been ravaged by falling
commodity prices and a scarcity of funding.
The government said it hopes the tax credit, which is aimed
at boosting exploration activity within Canada, will support
hundreds of small companies.
TORONTO, March 1 (Reuters) – BlackBerry
announced on Sunday that it plans to expand its cross-platform
strategy and deliver its often admired security, productivity
and communication tools to any smartphone or tablet device
running iOS, Android or Windows.
The one-time smartphone sector pioneer’s devices have waned
in popularity in recent years, but in a bid to remain relevant,
the Waterloo, Ontario-based company is pivoting to focus more on
its software business and core strengths like security that won
it recognition over the last decade.
TORONTO, March 1 (Reuters) – Canadian insurance company Sun
Life Financial Inc said it was looking for acquisition
opportunities in business areas such as wealth management that
are less impacted low interest rates.
“We are investing in areas of growth that are less dependent
on what interest rates do,” Chief Executive Dean Connor told
Reuters in an interview before the company kicks off
celebrations to mark its 150-year anniversary on Monday.
TORONTO, Feb 27 (Reuters) – Canadian pension plan OMERS said
on Friday it generated a 10 percent return in 2014 on the back
of big gains in investments in public and private markets, and
it plans to make a gradual shift in its portfolio asset mix over
the next 3 to 5 years.
OMERS, or the Ontario Municipal Employees Retirement System,
said net assets rose to C$72 billion ($57.71 billion) at the end
of 2014, from C$65.1 billion at the end of 2013.
TORONTO (Reuters) – Canadian retailer Hudson’s Bay Co (HBC.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it has agreed to form two real estate joint ventures that would cut its debt by about C$1.1 billion ($885.60 million) and pave the way for an initial public offering or alternate transaction.
The separate deals with two real estate investment trusts, or REITs, U.S.-based Simon Property Group Inc (SPG.N: Quote, Profile, Research, Stock Buzz) and Canada’s RioCan Real Estate Investment Trust (REI_u.TO: Quote, Profile, Research, Stock Buzz), sent HBC’s shares soaring more than 22 percent to C$27.15 on the Toronto Stock Exchange.
TORONTO (Reuters) – Investor sentiment in Canadian banks has begun to sour ahead of earnings this week as short interest positions in the stocks have jumped and analysts have begun to get increasingly skittish about their prospects in a weakening Canadian economy.
Canadian financials have been the worst performing among the 10 major sectors on the benchmark stock index year-to-date and the sector has fallen nearly 5 percent in the last three months. Some investors now fear that the banks, a major component of the financial sector, could be in for more pain.
TORONTO, Feb 19 (Reuters) – Canadian police laid corruption
charges against SNC-Lavalin Group Inc on Thursday, the
first time the engineering company has been directly charged
with alleged bribery as it conducted business in Libya over a
ten-year period until 2011.
Montreal-based SNC said it would plead not guilty and urged
that individuals, and not the company itself, be charged.
TORONTO, Feb 19 (Reuters) – Barrick Gold said on
Thursday it is focused on gold mining and has no plans to boost
its copper operations.
“Our focus is gold. We have no plans to diversify into other
metals, and we have no plans to add to our existing copper
position,” Barrick Executive Chairman John Thornton told
investors on the company’s earnings conference call.
TORONTO, Feb 17 (Reuters) – A strong Canadian dollar has
wounded the country’s auto manufacturing sector over the last
decade, but the currency’s recent drop to a near six-year low is
unlikely to spur a rush of new investment, say senior industry
Canada has struggled in recent years to win new investment
from automakers, losing out to both the United States and
lower-cost Mexico. While some major automakers have announced
new investments in Canada in recent months, they are expected to
preserve jobs rather than significantly increase employment.
TORONTO (Reuters) – Canadian proxy solicitation firm Kingsdale Shareholder Services will expand into the highly competitive U.S. market by opening a New York office next month and could bolster the move with acquisitions, its chief executive said on Tuesday.
Toronto-based Kingsdale, majority-owned by MDC Partners Inc, is also looking to launch in the United Kingdom and Australia in the next two years.