WASHINGTON/TORONTO, June 9 (Reuters) – Shippers wrongly
moved explosive gas as part of a crude oil delivery that
derailed and killed 47 people in a Canadian town last year,
lawyers seeking to represent the devastated town in a class
action lawsuit are expected to argue in a proceeding that starts
Several tank cars exploded with surprising force when the
cargo from North Dakota’s Bakken energy patch jumped the tracks
and detonated in downtown Lac Megantic, Quebec, last July.
TORONTO, June 4 (Reuters) – DataWind Inc plans to raise
about C$30 million ($27.41 million) via an initial public
offering on the Toronto Stock Exchange that will value the
discount tablet maker at about C$117 million, according to
documents filed with regulators on Wednesday.
Mississauga, Ontario-based DataWind has grabbed headlines in
recent years as the maker of the world’s cheapest tablet device,
UbiSlate that was initially developed as a budget device for the
TORONTO, June 4 (Reuters) – Canadian private equity firm
Fulcrum Capital Partners said on Wednesday it has acquired a
majority interest in privately-held Canadian defence and
infrastructure firm Weatherhaven Global Resources, a maker of
The two parties did not disclose the terms of the deal, but
said Weatherhaven’s founding shareholders are stepping back and
will assume an advisory role while its current management team,
led by CEO Ray Castelli, have reinvested and will continue to
lead the firm.
TORONTO (Reuters) – The Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it plans to sell the majority of its 37 percent stake in asset manager CI Financial (CIX.TO: Quote, Profile, Research, Stock Buzz) via a secondary offering that could raise as much as C$2.62 billion ($2.4 billion).
The offering, one of the largest in Canadian history, will see Scotiabank sell at least 72 million CI shares for a set price at C$31.60 a share, raising roughly C$2.28 billion.
LAVAL, QUEBEC, May 20 (Reuters) – Canada’s Valeant
Pharmaceuticals International said on Tuesday it will
not make an all-cash bid for drugmaker Allergan Inc as
many had expected last week when the company said it would
improve its cash and stock offer for the Botox maker.
Michael Pearson, chief executive officer of the Canadian
drugmaker, said Allergan shareholders favored Valeant’s bid and
preferred Valeant equity over more cash.
OTTAWA/TORONTO (Reuters) – Canada broke with the United States and did not impose sanctions on two key allies of Russian President Vladimir Putin because the pair had Canadian business interests, according to sources familiar with the matter.
The revelation puts into question the government’s tough line on Russia over the crisis in Ukraine. Prime Minister Stephen Harper recently compared Putin’s actions to those of Adolf Hitler in the run-up to World War Two.
OTTAWA/TORONTO, May 16 (Reuters) – Canada broke with the
United States and did not impose sanctions on two key allies of
Russian President Vladimir Putin because the pair had Canadian
business interests, according to sources familiar with the
The revelation puts into question the government’s tough
line on Russia over the crisis in Ukraine. Prime Minister
Stephen Harper recently compared Putin’s actions to those of
Adolf Hitler in the run-up to World War Two.
TORONTO, May 13 (Reuters) – BlackBerry Ltd said on
Tuesday it planned to allow rival mobile device management
players to manage its BlackBerry 10 devices on the internal
networks of their clients, marking a slight shift in strategy
for the embattled technology company.
Waterloo, Ontario-based BlackBerry said VMware Inc
subsidiary AirWatch, Citrix Systems Inc and
International Business Machines Corp would be the first
companies to manage its new line of smartphones on their own
mobile device management systems.
JAKARTA/TORONTO (Reuters) – BlackBerry Ltd launched a low-cost touchscreen device in Jakarta, the Z3, as the embattled smartphone maker looks to revive sales in emerging markets like Indonesia where its once-fervent following has shriveled.
The handset, to be presented at a glitzy launch event in the Indonesian capital on Tuesday, is the first in a line of devices being made with FIH Mobile Ltd, a unit of the giant Taiwanese Foxconn Technology Group best known for assembling gadgets like iPhones and iPads for Apple Inc.
TORONTO, May 7 (Reuters) – Canada’s largest natural gas
company Encana Corp said on Wednesday it is
buying producing assets in the Eagle Ford shale field in Texas
from Freeport-McMoRan Copper & Gold for $3.1 billion,
nearly doubling its oil output.
Encana has been concentrating on five shale fields that are
rich in oil and natural-gas liquids to lessen its dependence on
lower-value gas. This transaction will add a sixth focus area
and is aligned with Encana’s growth strategy, the company said.