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Jun 24, 2014

Investors revolt against management-led buyout of Canada’s Tuckamore

TORONTO, June 24 (Reuters) – Two large groups of investors
that control roughly 20 percent of the shares of Tuckamore
Capital Management Inc have gone public with their
discontent over a management-led buyout of the firm, being
sponsored by Birch Hill, a private equity player.

Canso Investment Counsel Ltd and Access Holdings Management
Co, in separate statements, said they plan to vote shares they
control against the controversial transaction as it materially
undervalues Tuckamore, a holding firm that invests in early- and
mid-stage private companies across all sectors.

Jun 23, 2014

Canada’s SNC-Lavalin to buy UK’s Kentz for $2 billion

TORONTO (Reuters) – Canadian engineering and construction company SNC-Lavalin Group Inc (SNC.TO: Quote, Profile, Research, Stock Buzz) said on Monday that it would acquire British energy services provider Kentz Corp (KENZ.L: Quote, Profile, Research, Stock Buzz) for about 1.164 billion pounds ($1.98 billion) in cash to expand its offerings in the oil and gas sector.

Montreal-based SNC said the acquisition of Kentz would allow it to carry out larger and more complex oil and gas projects. The deal would also give SNC a much greater presence in key growth regions such as the Middle East, North America and Asia Pacific.

Jun 19, 2014

BlackBerry results top forecasts, fueling recovery hopes

WATERLOO Ontario/TORONTO (Reuters) – BlackBerry Ltd posted a narrower-than-expected loss as the troubled smartphone maker’s turnaround efforts started to pay off, raising hopes its chief executive can deliver on a pledge to return the company to steady profits.

Shares jumped more than 10 percent on Thursday after BlackBerry said it spent less cash than many expected and its gross profit margin rose from a year earlier.

Jun 19, 2014

BlackBerry reports better than expected results, shares surge

WATERLOO/TORONTO (Reuters) – BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected quarterly loss on Thursday as the smartphone company’s cost cutting and other turnaround efforts started to pay off.

Shares jumped 10 percent in trading before the bell after BlackBerry burned through less of its cash than many expected and reported its gross profit margin rose from a year earlier.

Jun 18, 2014

In deal with Amazon, BlackBerry to offer 240,000 Android apps

TORONTO (Reuters) – BlackBerry Ltd has agreed a licensing deal with Amazon.com Inc that will let the Canadian smartphone maker offer some 240,000 Android applications from Amazon’s app store on its line-up of BlackBerry 10 devices this fall.

The move allows BlackBerry to add a vast array of consumer-focused apps to its devices, and to focus on developing enterprise and productivity applications, the Waterloo, Ontario-based company said in a statement on Wednesday.

Jun 17, 2014

First Quantum to acquire Lumina Copper for $420 mln

TORONTO/VANCOUVER, June 17 (Reuters) – First Quantum
Minerals Ltd said on Tuesday it has agreed to buy Lumina
Copper Corp for about C$456 million ($420 million), in a
bid to win control of Lumina’s Taca Taca copper project in
Argentina.

The cash-and-stock deal values Vancouver-based Lumina at
about C$9.71 a share, a premium of nearly 25 percent to the
company’s closing price on the TSX Venture Exchange on Monday.

Jun 16, 2014

Canadian home resales jump in May as listings spike

TORONTO, June 16 (Reuters) – Sales of existing homes in
Canada jumped in May from April driven by a sharp increase in
listings and a deferred start to the spring buying season after
a long winter, the Canadian Real Estate Association (CREA) said
on Monday.

The industry group for Canadian real estate agents said
sales were up 5.9 percent last month from April, the largest
month-over-month increase in nearly four years. Actual sales for
May, not seasonally adjusted, were up 4.8 percent from May 2013.

Jun 12, 2014

Lululemon sees tough second-quarter, shares tumble

TORONTO, (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) offered little sign on Thursday that it was pulling out of an extended slump, cutting financial forecasts and warning that second-quarter sales at its once-trendy yogawear shops were off to a weak start.

Its shares dropped more than 15 percent after it said purchases were dropping even as customer traffic was picking up. During a conference call, Chief Executive Laurent Potdevin blamed the decline in part on a “suboptimal” product assortment.

Jun 12, 2014

BlackBerry in deal with EnStream on mobile payments system

TORONTO, June 12 (Reuters) – BlackBerry Ltd said on
Thursday it has signed a agreement with EnStream LP, a mobile
payments joint venture owned by Canada’s three large wireless
carriers, to provide a secure platform for transactions between
banks and consumers.

Under the deal, EnStream would use BlackBerry infrastructure
so financial institutions and mobile operators can securely
store sensitive payment card details on any smartphone capable
of using a near field communication (NFC) tag.

Jun 11, 2014

Lululemon founder turns on board, votes against new chairman

TORONTO, June 11 (Reuters) – Lululemon Athletica Inc’s
founder and biggest shareholder, Chip Wilson, lashed
out at the yogawear retailer’s board on Wednesday, saying the
company’s new chairman and another director are too focused on
short-term growth and that he had voted against them in board
elections.

Just hours ahead of the company’s annual meeting in
Vancouver, Wilson issued a press release praising Lululemon’s
new management team, but saying the board is “heavily weighted
towards short-term results at the expense of product, culture
and brand and longer-term corporate goals.”

    • 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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