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.
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.
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.
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.
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.
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.
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.
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.
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.
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.