TORONTO, May 6 (Reuters) – Brookfield Asset Management Inc
, one of Canada’s top investment management firms, is
actively scouting for oil assets in the oil-rich Western
Canadian province of Alberta, said Chief Executive Bruce Flatt
“Our main investment objective is to put money where money
is scarce,” Flatt told media on the sidelines of Brookfield’s
annual shareholder meeting in Toronto. “And oil and gas, and
especially oil in Alberta, is a sector that is under more stress
than it has been in a long time.”
TORONTO, May 5 (Reuters) – Kinross Gold is scouting
for acquisition opportunities but vows it will be disciplined
and only strike a deal if it offers value to shareholders, the
Canadian gold miner’s chief executive said on Tuesday.
“On the external front, we are looking like everyone else
is,” Paul Rollinson said in an interview. “But at the end of the
day we will be disciplined.”
TORONTO, May 4 (Reuters) – TMX Group, owner of
Canada’s major stock exchanges, said on Monday it will gradually
reduce its rebate and fee structure to address concerns about
its incentives model and to tackle competitive threats.
Critics say the widely used fee and rebate system, called
the “maker-taker” model, distorts stock-order routing practices
as brokers may be enticed to send orders to markets where they
get the best incentives, instead of acting in their clients’
TORONTO, May 1 (Reuters) – Barrick Gold Corp on
Friday named Catherine Raw, a BlackRock executive and co-manager
of one of its flagship mining funds, as head of business
BlackRock, one of the world’s largest asset
managers, announced in March that Raw was leaving to take a
corporate position in the mining sector. She had headed the
firm’s mining fund with BlackRock veteran Evy Hambro since 2011.
TORONTO, April 30 (Reuters) – GMP Capital reported
a net loss on Thursday, as a slump in commodity prices damped
issuance and deal activity among small- and mid-tier companies
that account for a large portion of the independent brokerage
firm’s client base.
The results underscore the challenge that many small and
mid-market firms face in Canada, as weak commodity prices and
higher costs amid increased regulatory scrutiny weigh on
TORONTO (Reuters) – The uproar around yogawear retailer Lululemon Athletica two years ago was about a little too much transparency. Now some shareholders are complaining about a lack of it.
Lululemon shares tumbled and executives departed following a high-profile 2013 recall of its signature yoga pants that were deemed too see-through. Its founder Chip Wilson later clashed with the board over how things were being run.
TORONTO, April 28 (Reuters) – Barrick Gold Corp
Chairman John Thornton promised to fix the
miner’s executive compensation plan, especially his own package,
on Tuesday after shareholders voted overwhelmingly to reject it,
the second such rejection in three years.
Although the final tally of the nonbinding say-on-pay vote
was not in, Thornton said early returns indicated that about 75
percent of shareholders who voted rejected the plan.
TORONTO/MONTREAL, April 24 (Reuters) – Stingray Digital
Group, a business-to-business music provider and media company,
said on Friday it plans to go public through a listing on the
Toronto Stock Exchange.
A source familiar with the company’s plans, who asked not to
be named as the details of the offering are not yet public, said
Stingray plans to raise C$120 million ($99 million) via the IPO
that is expected to close sometime in early June.
TORONTO, April 24 (Reuters) – The Canada Pension Plan
Investment Board, the country’s largest pension fund manager, on
Friday joined a slew of other investors opposing Barrick Gold
Corp’s executive pay structure.
Toronto-based CPPIB said it plans to come out against the
advisory vote on executive compensation that Barrick will be
having at its annual shareholder meeting next week.
TORONTO (Reuters) – Fairfax Financial Holdings, which bet on the success of a Greek turnaround last year, said on Thursday it is confident that Greece will reach a deal with its counterparts in the euro zone and remain a part of the currency bloc.
Fairfax last year became a key player in the bailout of one of the country’s largest lenders Eurobank, after it bought a 13.6 percent stake in the bank. The Toronto-based firm recently boosted its position in the bank further, even as Greek banks suffered deposit outflows in the face of fears over the Greek government’s extended standoff with euro zone partners over reforms.