TORONTO, April 2 (Reuters) – Canada’s Labrador Iron Mines
Holdings sought court protection from creditors on Thursday,
making it the latest victim of a high-stakes battle for market
share among major producers that has sent iron ore prices
tumbling and crippled small players.
The Toronto-based company, which owns assets in the
iron-ore-rich Labrador trough in Eastern Canada, mothballed its
operations last year and is now seeking to complete a
restructuring so it can eventually resume operations.
TORONTO, April 2 (Reuters) – Royal Bank of Canada
topped Canadian equity issuances in the first quarter, lifted by
a surge in financings for energy companies looking to beef up
their balance sheets in the face of sluggish oil prices, Thomson
Reuters figures showed on Thursday.
Bank of Nova Scotia and Deutsche Bank
came in second and third, respectively, while BMO Capital
Markets and CIBC World Markets rounded out the top five,
according to the data.
TORONTO, March 31 (Reuters) – The Ontario Teachers’ Pension
Plan, one of Canada’s biggest investors, said on Tuesday it is
actively scouting for energy assets as it looks to trim
positions in oil and gas derivatives and invest instead directly
in producing assets.
“We do have our natural resource group out there looking for
real assets,” said Neil Petroff OTPP’s chief investment officer,
in a media briefing after the fund manager posted a 11.8 percent
rate of return on its investments in 2014, taking net assets to
a record C$154.5 billion ($121.5 billion).
TORONTO, March 31 (Reuters) – Amaya Inc, which
recently acquired online gambling sites PokerStars and Full
Tilt, reported a near eight-fold rise in quarterly adjusted
earnings on Tuesday, and outlined plans to seek a secondary
listing on the Nasdaq.
The Montreal-based company said it plans to win new clients
and supplement growth from its core poker business through
expansion into other areas such as sportsbetting, social gaming
and fantasy sports.
By Euan Rocha
(Reuters) – Canadian financial technology firm D+H (DH.TO: Quote, Profile, Research, Stock Buzz) said on Monday it agreed to acquire global payment services provider Fundtech for $1.25 billion in cash, in a bid to expand its service offerings aimed at global financial institutions and large U.S. banks.
New York-based Fundtech, with some 1,500 employees and 19 offices globally, provides a comprehensive line of transaction banking software that facilitates global and domestic payments, along with financial messaging, corporate cash management and merchant services.
WATERLOO, Ontario (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz) is likely to see a part of its targeted software revenue growth in the coming fiscal year come from the acquisition of companies that will allow it to sell more value-added services, Chief Executive John Chen said on Friday.
“Now that we have a cash generation capability, we are going to invest and some of the growth is going to be inorganic,” said Chen, who has hung his hat on the company making $600 million in software revenues in the current fiscal year.
TORONTO, March 27 (Reuters) – BlackBerry Ltd
posted better-than-expected quarterly earnings on Friday,
offering signs its turnaround efforts may be beginning to gain
traction, but a larger-than-expected drop in revenue worried
The stock seesawed in premarket trading, reflecting the
mixed investor sentiment. The stock initially rose sharply, then
fell into negative territory. It was up 4.8 percent at $9.75 at
8 a.m. EDT (1200 GMT) on Nasdaq.
TORONTO/NEW YORK, March 26 (Reuters) – Kinross Gold Corp
has agreed pay $33 million to settle a shareholder
lawsuit that had accused the Canadian gold miner of defrauding
investors through an ill-advised mine acquisition in Mauritania
that has resulted in over $6 billion in writedowns.
According to documents filed with the U.S. District Court
for the Southern District of New York late on Thursday, Kinross
said it settled the matter to eliminate the burden and expense
of continued litigation but denied any wrongdoing.
TORONTO (Reuters) – Toronto-Dominion Bank (TD.TO: Quote, Profile, Research, Stock Buzz) (TD.N: Quote, Profile, Research, Stock Buzz), Canada’s second-largest lender, said on Thursday it is open to doing small acquisitions in the U.S. market that would allow it to accelerate its branch rollout, especially in the southeastern part of the country.
“We open about 25 to 30 new branches in the U.S. every year right through our footprint, so if there was a smallish tuck-in opportunity in the U.S. Southeast, we would certainly look at it seriously, because it would accelerate our store build-out by a few years,” said Chief Executive Bharat Masrani at a roundtable with media.
TORONTO (Reuters) – Canada’s competition watchdog on Wednesday approved Postmedia’s proposed takeover of Quebecor Inc’s (QBRb.TO: Quote, Profile, Research, Stock Buzz) Sun Media English-language newspapers and digital assets, paving the way for one publisher to control a majority of the English-language dailies across Canada.
The C$316 million ($253 million) deal announced in October is set to transform the country’s newspaper landscape, making Postmedia the owner of competing major local dailies in cities such as Ottawa, Edmonton and Calgary.