TORONTO (Reuters) – Canadian insurer Sun Life Financial Inc (SLF.TO: Quote, Profile, Research, Stock Buzz) is scouting for acquisitions to boost its asset management businesses in the United States and Canada, following a string of deals this year, its top executive said on Thursday.
The company is also seeking opportunities in Asia, including the possibility of increasing its stake in its Birla Sun Life Insurance joint venture in India, Chief Executive Dean Connor said in an interview.
TORONTO (Reuters) – Royal Bank of Canada’s (RY.TO: Quote, Profile, Research, Stock Buzz) $5 billion deal to buy Los Angeles-based City National Corp gives it the option to evaluate other U.S. acquisitions over the medium to long term, its top executive said on Monday.
However, the country’s most valuable company is currently focused on organic growth and not looking for deals in the short term, Chief Executive Dave McKay said in an interview.
TORONTO, Oct 30 (Reuters) – Canadian Natural Resources
has held discussions with some pension plans and
strategic buyers over options for royalty assets it has been
looking to spin off, according to three sources familiar with
The company, which had said in May it intended to sell the
assets this year, has engaged with the Canada Pension Plan
Investment Board, Ontario Teachers’ Pension Plan and PrairieSky
Royalty, said the sources, who spoke on condition of
anonymity as the talks are not public.
TORONTO, Oct 30 (Reuters) – Canada’s main stock index fell
sharply on Friday, pushed lower by a slump in Valeant
Pharmaceuticals International Inc after it cut ties
with a specialty pharmacy accused of helping it inflate revenue,
and by retreats in heavyweight banks.
The most influential single weight on the index was Valeant,
which fell 17.7 percent after it said it will sever ties with
Philidor Rx Services in the wake of criticism over the
relationship between the two closely associated companies.
TORONTO, Oct 29 (Reuters) – Canada’s main stock index fell
on Thursday, with sliding commodity prices hurting miners, while
Bombardier Inc plunged after reporting a massive
quarterly loss and Potash Corp fell on trimmed earnings
and sales forecasts.
The losses were offset by gains in the heavyweight energy
sector amid volatile oil market trade.
TORONTO, Oct 29 (Reuters) – Ontario electric utility Hydro
One Ltd’s initial public offering was priced at
C$20.50 per share on Thursday, raising C$1.66 billion ($1.26
billion) and marking one of the biggest IPOs in Canadian
The pricing suggested demand for a roughly 15 percent stake
in the province’s largest electric utility was high.
TORONTO, Oct 28 (Reuters) – Ontario electric utility Hydro
One Ltd’s initial public offering is set to price at
the high end of its earlier disclosed range, according to three
sources familiar with the matter.
The company is likely to tighten the offering price range to
C$20 to C$21 per share, from the C$19 to C$21 per share range it
had announced earlier, said the sources, who spoke on condition
TORONTO, Oct 23 (Reuters) – Bank of Nova Scotia is
cutting an undisclosed number of jobs as part of a broader
cost-reduction strategy as it moves to keep pace with technology
changes in the financial services industry, Canada’s No. 3
Scotiabank, which had more than 87,000 employees at the end
of July, said it would close offices in Calgary, Ottawa,
Vancouver, Winnipeg and Halifax over the next two years, and it
told employees about the layoffs on Thursday.
TORONTO (Reuters) – Canadian Oil Sands Ltd (COS.TO: Quote, Profile, Research, Stock Buzz) expects strong interest from a wide range of buyers, its chief executive said on Monday, as the company asked shareholders to reject a hostile takeover offer by Suncor Energy Inc (SU.TO: Quote, Profile, Research, Stock Buzz).
After a review, the board concluded Suncor’s bid was weak and substantially undervalued the company’s ownership in Syncrude, the country’s biggest synthetic crude project.
TORONTO/NEW YORK, Oct 17 (Reuters) – Toronto-Dominion Bank
has begun laying off staff in Canada and the United
States as part of a company-wide initiative to cut costs,
according to two sources familiar with the matter.
TD, Canada’s biggest lender by assets, started the process
by hiring Boston Consulting Group to examine ways to drive
efficiencies, the sources said.