Euan's Feed
Oct 9, 2013

Canada veto complicates BlackBerry, telecom deal making

TORONTO, Oct 9 (Reuters) – When Canada blocked the sale of a
fiber optic network to a company backed by an Egyptian telecom
tycoon this week, it telegraphed its resolve to make national
security paramount when considering whether to allow a foreign
firm to acquire what it considers a strategic asset.

That warning may effectively limit the pool of would-be
buyers of BlackBerry Ltd or foreigners
interested in Canada’s telecom industry, and it could rule out
all but a few well-established players based in North America,
industry executives, lawyers and analysts say.

Oct 8, 2013

Talisman shares drop as investors question Icahn effect

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares fell on Tuesday as investors raised doubts that activist investor Carl Icahn would be able to force dramatic changes on the struggling Canadian oil producer.

Icahn disclosed a 6 percent stake in Talisman late on Monday, making him its second-largest shareholder, according to Reuters data. It is the second time Icahn has taken a position in Talisman. He acquired 4.8 million shares in 2007, when the company was facing pressure to boost its share price.

Oct 8, 2013

Icahn ignites Talisman stock, but longer-term doubts linger

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares rallied in trading before the bell on Tuesday on news that Carl Icahn has built a stake in the company, but doubts remain about whether the billionaire investor will be able to force dramatic changes.

Investors and analysts see Icahn’s involvement in Talisman breathing life into the stock in the short-term, but many are wary, as the company has been working through a restructuring process under new management for over a year now and the results so far have been mixed at best.

Oct 8, 2013

Canada blocks network sale to Egypt’s Sawiris, citing security

TORONTO, Oct 7 (Reuters) – The Canadian government said on
Monday it blocked a bid from a company controlled by Egyptian
telecom tycoon Naguib Sawiris to buy a fiber optic network,
citing national security concerns.

The surprise move by the country’s Conservative government
was made with little explanation and comes as many question its
appetite for foreign investment in sectors ranging from
telecommunications to oil sands.

Sep 21, 2013

BlackBerry warns of big loss, 4,500 job cuts; 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 global 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 Inc’s iPhone and Samsung Electronics Co Ltd’s Galaxy phones, said it expects to report a net operating loss of between $950 million and $995 million in the quarter ended August 31, due to writedowns and other factors.

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).

    • 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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