TORONTO, March 4 (Reuters) – When the world’s miners head
for Toronto each year to attend their industry’s annual
conference, they arrive with certain expectations. They’re
accustomed to finding oyster bars, rowdy parties, open bars with
high-end liquor and elegant hotel suites.
But this year’s gathering of the Prospectors and Developers
Association of Canada (PDAC) is a more subdued affair, with
lavish spreads and grand lodgings increasingly giving way to
cheese platters and Airbnb rentals.
BARCELONA/TORONTO, March 3 (Reuters) – BlackBerry unveiled a
new mid-market smartphone on Tuesday dubbed the BlackBerry Leap
that is set to replace the Z3 device launched a year ago, in a
move to woo buyers in certain emerging markets where BlackBerry
still has a fairly large client base.
The Waterloo, Ontario-based company said the phone, unveiled
at the Mobile World Congress (MWC) in Barcelona, would initially
hit stores in U.S and European markets around April and be
priced around $275.
TORONTO, March 2 (Reuters) – BlackBerry Ltd
said on Monday it plans to offer a cloud-based version of its
device management platform BES12, a move that will make the
service more accessible to small- and medium-sized businesses
that need to secure devices on their own networks.
Waterloo, Ontario-based BlackBerry has built a reputation
around its device management and security capabilities, catering
mainly to the needs of large government agencies and
corporations. With data security needs becoming more critical,
and a number of new entrants in the field nipping at its heels,
BlackBerry said it is now broadening its offerings.
TORONTO, March 1 (Reuters) – The Canadian government
outlined plans on Sunday to extend for a year exploration tax
credits offered to miners and broaden the scope of the credits,
in an attempt to boost a sector that has been ravaged by falling
commodity prices and a scarcity of funding.
The government said it hopes the tax credit, which is aimed
at boosting exploration activity within Canada, will support
hundreds of small companies.
TORONTO, March 1 (Reuters) – BlackBerry
announced on Sunday that it plans to expand its cross-platform
strategy and deliver its often admired security, productivity
and communication tools to any smartphone or tablet device
running iOS, Android or Windows.
The one-time smartphone sector pioneer’s devices have waned
in popularity in recent years, but in a bid to remain relevant,
the Waterloo, Ontario-based company is pivoting to focus more on
its software business and core strengths like security that won
it recognition over the last decade.
TORONTO, March 1 (Reuters) – Canadian insurance company Sun
Life Financial Inc said it was looking for acquisition
opportunities in business areas such as wealth management that
are less impacted low interest rates.
“We are investing in areas of growth that are less dependent
on what interest rates do,” Chief Executive Dean Connor told
Reuters in an interview before the company kicks off
celebrations to mark its 150-year anniversary on Monday.
TORONTO, Feb 27 (Reuters) – Canadian pension plan OMERS said
on Friday it generated a 10 percent return in 2014 on the back
of big gains in investments in public and private markets, and
it plans to make a gradual shift in its portfolio asset mix over
the next 3 to 5 years.
OMERS, or the Ontario Municipal Employees Retirement System,
said net assets rose to C$72 billion ($57.71 billion) at the end
of 2014, from C$65.1 billion at the end of 2013.
TORONTO (Reuters) – Canadian retailer Hudson’s Bay Co (HBC.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it has agreed to form two real estate joint ventures that would cut its debt by about C$1.1 billion ($885.60 million) and pave the way for an initial public offering or alternate transaction.
The separate deals with two real estate investment trusts, or REITs, U.S.-based Simon Property Group Inc (SPG.N: Quote, Profile, Research, Stock Buzz) and Canada’s RioCan Real Estate Investment Trust (REI_u.TO: Quote, Profile, Research, Stock Buzz), sent HBC’s shares soaring more than 22 percent to C$27.15 on the Toronto Stock Exchange.
TORONTO (Reuters) – Investor sentiment in Canadian banks has begun to sour ahead of earnings this week as short interest positions in the stocks have jumped and analysts have begun to get increasingly skittish about their prospects in a weakening Canadian economy.
Canadian financials have been the worst performing among the 10 major sectors on the benchmark stock index year-to-date and the sector has fallen nearly 5 percent in the last three months. Some investors now fear that the banks, a major component of the financial sector, could be in for more pain.
TORONTO, Feb 19 (Reuters) – Canadian police laid corruption
charges against SNC-Lavalin Group Inc on Thursday, the
first time the engineering company has been directly charged
with alleged bribery as it conducted business in Libya over a
ten-year period until 2011.
Montreal-based SNC said it would plead not guilty and urged
that individuals, and not the company itself, be charged.