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Dec 23, 2013

Reitmans’ shares rise after Fairfax buys stake

TORONTO (Reuters) – Shares in Reitmans Canada Ltd (RETa.TO: Quote, Profile, Research, Stock Buzz) rose 6.9 percent on Monday, following an announcement by Fairfax Financial Holdings (FFH.TO: Quote, Profile, Research, Stock Buzz) that it has acquired a sizable stake in the Canadian clothing retailer.

Toronto-based Fairfax, led by investor Prem Watsa, disclosed late on Friday that it now owns 13.8 percent of Reitmans’ Class A shares.

Dec 23, 2013

BlackBerry steps back on handset business, shares jump

TORONTO (Reuters) – BlackBerry Ltd said on Friday it was entering a handset production deal that lowers the risk it will have to take more massive writedowns on unsold smartphones, and its shares surged even though it posted dismal quarterly results.

The stock rose as much as 17 percent after the company announced the five-year partnership with FIH Mobile Ltd. The Hong Kong-listed unit of Taiwan’s Foxconn will initially build low-end devices for sale in Indonesia and other emerging markets. BlackBerry said it hoped to expand the fledgling relationship to its top-of-the-line smartphones.

Dec 20, 2013

BlackBerry reports huge quarterly loss

TORONTO (Reuters) – BlackBerry LtdTO>, which gave up on a plan to sell itself last month, reported a massive quarterly loss on Friday, as sales of its smartphones shriveled and it booked asset impairment charges and inventory writedowns.

The company, which announced a five-year partnership with Foxconn Technology Co Ltd to develop and manufacture a handset for Indonesia and other emerging markets, conceded that its biggest challenge was still in its core handset business.

Dec 18, 2013

BlackBerry names former SAP executive to head key business segment

TORONTO (Reuters) – BlackBerry Ltd said on Tuesday that John Sims will join the company as head of its global enterprise services business, a key segment that is likely to be at the core of the smartphone maker’s turnaround plan.

Waterloo, Ontario-based BlackBerry said Sims will join the company in January from software giant SAP AG, where he served as president of SAP’s mobile services business.

Dec 16, 2013

Canada’s competition watchdog challenges Google’s search dominance

TORONTO, Dec 16 (Reuters) – Canada’s Competition Bureau has
filed a legal motion against Google Inc alleging that
the company is abusing its dominant position in online search,
joining U.S. and European anti-trust authorities in challenging
the practices of the web giant.

The bureau commissioner, in a federal court filing dated
Dec. 11., is seeking an order requiring Google hand over
information about its business practices, including contracts.

Dec 12, 2013

Canada’s CPPIB to buy farmland portfolio in Saskatchewan

TORONTO/WINNIPEG (Reuters) – The Canada Pension Plan Investment Board (CPPIB) said on Thursday it had agreed to acquire the assets of Assiniboia Farmland, a fund that owns and manages a large portfolio of farmland in Saskatchewan, for about C$128 million.

CPPIB, one of Canada’s top pension fund managers with more than C$192.8 billion ($181 billion) in assets under management, said Assiniboia’s diversified portfolio consists of 115,000 acres of farmland that produce crops like wheat, barley and canola.

Dec 12, 2013

CPPIB to acquire Saskatchewan farmland portfolio

TORONTO/WINNIPEG (Reuters) – The Canada Pension Plan Investment Board said on Thursday it has agreed to acquire the assets of Assiniboia Farmland, a fund that owns and manages a large portfolio of farmland in Saskatchewan, for about C$128 million.

CPPIB said Assiniboia’s diversified portfolio consists of about 115,000 acres of farmland that produce crops including wheat, barley and canola.

Dec 12, 2013

Canada’s CPPIB acquires minority stake in France’s Orpea

TORONTO, Dec 11 (Reuters) – Canada Pension Plan Investment
Board (CPPIB) said on Tuesday it has invested 320.8 million euro
($442.4 million) to acquire a 15 percent stake in nursing home
operator Orpea as it bets on the French company’s
growth prospects in Europe and overseas.

CPPIB, one of Canada’s top pension fund managers with over
C$192.8 billion ($181.70 billion) in assets under management, is
buying the shares from Orpea’s founder Jean-Claude Marian and
Santé Finance et Investissement.

Dec 5, 2013

Investors dismayed as new Barrick chairman talks diversification

TORONTO (Reuters) – Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz) investors have taken in stride news that the world’s largest gold producer may consider hedging its gold exposure, but they are roundly panning its plan for more diversification into other commodities.

John Thornton, who was confirmed after markets closed on Wednesday as Barrick’s next chairman, told reporters he would consider revisiting a hedging strategy for selling the company’s output because of the volatility of gold prices.

Dec 5, 2013

Barrick shakes up board, new chairman muses on hedging

By Allison Martell and Euan Rocha

(Reuters) – Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz), under fire for missteps in a tough market, started to address investor demands for a more independent board on Wednesday, by replacing two directors close to its departing founder with a pair of mining industry experts.

Incoming chairman John Thornton said he may look at hedging Barrick’s exposure to the price of gold and made it clear that over the long term, the world’s biggest gold producer, could diversify further into other metals.

    • 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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