Euan's Feed
Oct 14, 2015

Element Financial to explore sale of certain Canadian assets

TORONTO (Reuters) – Element Financial (EFN.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it plans to sell its Canadian commercial and vendor financing operations as it bolsters its newly acquired status as North America’s leading fleet management and services enterprise.

The Toronto-based company said it will reinvest proceeds from the sale of the C&V business into growth and acquisition opportunities in its fleet management business.

Oct 9, 2015

Ontario to raise up to C$1.87 billion in Hydro One IPO

TORONTO (Reuters) – The Canadian province of Ontario expects to raise as much as C$1.87 billion ($1.44 billion) through the sale of a 15 percent stake in its electric utility Hydro One Ltd, according to a regulatory filing on Friday. The government plans to sell up to 89.25 million Hydro One shares in an initial public offering likely to be priced between C$19 and C$21, pegging the overall value of the company between C$11.31 billion and C$12.5 billion.

The Hydro One offering, which comes in the aftermath of a sharp selloff in Canadian public markets over the summer, is set to raise less funds than the province had initially anticipated.

Oct 6, 2015

Freeport trims board, reviews oil and gas; shares jump

Oct 6 (Reuters) – Freeport-McMoRan Inc, under
pressure from activist shareholder Carl Icahn and weak commodity
prices, said on Tuesday it is slashing the size of its board and
exploring a spinoff or a joint venture for its oil and gas
operations.

The move sent Freeport shares up more than 5 percent to
$11.74 in early trading in New York, with investors welcoming
the prospect of the Phoenix-based company returning to its roots
as a base and precious metals miner.

Oct 2, 2015

GE role helps JPMorgan top Canadian M&A advisor rankings

TORONTO, Oct 2 (Reuters) – JPMorgan Chase, the lead
advisor to General Electric Co on the sale of its finance
assets, vaulted to the top of the Canadian M&A league tables
following a string of GE asset sales to Canadian buyers.

Thomson Reuters data released on Friday showed $191 billion
in mergers and acquisitions involving Canadian entities
year-to-date, up 28 percent from about $149 billion from a year
ago. The overall number of deals fell nearly 10 percent.

Oct 2, 2015

RBC leads rise in Canadian equity issues despite choppy markets

TORONTO, Oct 2 (Reuters) – Royal Bank of Canada led
a rise in the value of Canadian equity issues for the first nine
months of 2015, overcoming a slowdown in the third quarter due
to increased choppiness in equity markets.

Equity financings rose to C$36 billion ($27.23 billion) in
the period, compared with C$33.6 million a year ago, according
to Thomson Reuters data released on Friday.

Sep 29, 2015

Canada’s Hootsuite taps Open Text executive Kini as CFO -source

TORONTO (Reuters) – Hootsuite has tapped Open Text Corp’s principal accounting officer Sujeet Kini as its chief financial officer, according to a source familiar with the matter, potentially moving the Canadian tech start-up a step closer toward listing.

Waterloo, Ontario-based Open Text disclosed in a regulatory document last week that Kini is leaving the company effective Oct. 16 and that he has accepted the CFO position at a social media company.

Sep 25, 2015

BlackBerry devices future rides on fortunes of new Android phone: CEO

WATERLOO, Ontario (Reuters) – BlackBerry Ltd’s decision to roll out a smartphone powered by Google’s Android platform was hotly debated internally but the gamble is necessary to test whether the company’s handset business is viable, Chief Executive John Chen said on Friday.

Waterloo, Ontario-based BlackBerry confirmed it planned to introduce an Android smartphone later this year, even as it also reported weaker-than-expected quarterly results.

Sep 25, 2015

BlackBerry posts bigger-than-expected loss, shares slump

TORONTO, Sept 25 (Reuters) – BlackBerry Ltd
reported a bigger-than-expected second-quarter loss on Friday,
as revenue from its once-iconic smartphone slid further, sending
shares down nearly 4 percent in premarket trading.

The Waterloo, Ontario-based company said it expects “modest”
sequential revenue growth in the remaining two quarters of this
fiscal year and a return to profitability in the fourth quarter.

Sep 21, 2015

Exclusive: Shopify, Google boosting presence in BlackBerry’s hometown

TORONTO (Reuters) – Tech giants such as Google Inc (GOOGL.O: Quote, Profile, Research, Stock Buzz) and upstarts like Shopify Inc (SH.TO: Quote, Profile, Research, Stock Buzz) (SHOP.N: Quote, Profile, Research, Stock Buzz) are rapidly expanding their presence in and around BlackBerry’s (BB.TO: Quote, Profile, Research, Stock Buzz) hometown of Waterloo, Ontario, even as the smartphone maker further pares back some of its teams.

Canada’s newest tech darling Shopify, which went public this year and is valued at $2.75 billion, will soon announce a major expansion in the region, according to three sources familiar with the matter.

Sep 21, 2015

Shopify, Google boosting presence in BlackBerry’s hometown

TORONTO, Sept 21 (Reuters) – Tech giants such as Google Inc
and upstarts like Shopify Inc are
rapidly expanding their presence in and around BlackBerry’s
hometown of Waterloo, Ontario, even as the smartphone
maker further pares back some of its teams.

Canada’s newest tech darling Shopify, which went public this
year and is valued at $2.75 billion, will soon announce a major
expansion in the region, according to three sources familiar
with the matter.

    • 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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