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May 15, 2015

Imperial Oil begins to accept proposals for Esso stations-sources

TORONTO/CALGARY, May 15 (Reuters) – Imperial Oil,
Canada’s No. 2 integrated oil producer and refiner, is moving
forward on plans to sell some 500 of its remaining company-owned
Esso retail sites and has begun to accept proposals from
interested bidders, according to four sources familiar with the
process.

In January Imperial, majority-owned by Exxon Mobil,
said it was evaluating selling its remaining company-owned Esso
stations in Canada. [IDn:nL1N0V733J]

May 8, 2015

TSX climbs on U.S. jobs data, energy shares

TORONTO, May 8 (Reuters) – Canada’s main stock index
advanced on Friday as upbeat economic data reflected strength in
the U.S. labor market and shares of energy producers climbed
with the price of U.S. crude oil.

In the United States, all three main stock indexes, the Dow
Jones industrial average, the S&P 500 and the
Nasdaq Composite, were up over 1 percent.

May 7, 2015

Online platform BitGold to go public in Toronto, seek Asia listing

TORONTO, May 7 (Reuters) – Canada’s BitGold, a startup that
runs an online payments and savings platform based on the
precious metal, plans to go public in Toronto next week and will
seek a listing in Asia in six to 12 months, the company’s chief
executive said.

“We felt there was this compelling opportunity to build a
financial service that had virtually no counterparty risk
because it only held gold,” Chief Executive Roy Sebag said in an
interview on Wednesday.

May 7, 2015

Manulife first-quarter profit falls; dividend raised

TORONTO, May 7 (Reuters) – Manulife Financial Corp
reported a lower first-quarter profit on Thursday due to the
impact of its energy holdings on its investment business, but
the insurer raised its quarterly dividend.

The Toronto-based company, which has major operations in
Canada, the United States and Asia, also recorded a rise in
assets under management to C$821 billion ($680 billion).

May 6, 2015

NDP’s Alberta win drags TSX to one-month low

TORONTO, May 6 (Reuters) – Canada’s main stock index dropped
about 1 percent on Wednesday, hitting a one-month low, as the
victory of the New Democratic Party in oil-rich Alberta’s
provincial election hit energy shares.

The left-wing NDP beat the Progressive Conservatives in a
crushing win that ended the center-right party’s 44-year hold on
power in the western Canadian province.

May 6, 2015

Sun Life CEO sees Asian, asset management units driving growth

TORONTO, May 6 (Reuters) – Canadian insurer Sun Life
Financial Inc expects gains in its Asian and asset
management segments to drive growth this year and beyond, it’s
chief executive said on Wednesday.

Sun Life CEO Dean Connor’s comments came a day after the
company, whose rivals include Manulife Financial Corp
and Great-West Lifeco Inc, reported a first-quarter
profit that topped market expectations and raised its quarterly
dividend.

May 4, 2015

TSX at one-week high as Couche-Tard, financials gain

TORONTO, May 4 (Reuters) – Canada’s main stock index hit a
one-week high on Monday, helped by strength in the financial
sector and shares of Alimentation Couche-Tard.

Convenience store operator Couche-Tard was by far the most
influential gainer on the index. Its shares climbed 4.6 percent
to C$47.59, recouping some of last week’s losses, after the
company issued a statement to clarify that the Circle K Corp
referenced in a Chapter 11 bankruptcy filing in the United
States was not its subsidiary.

Apr 29, 2015

Exclusive: Hedge fund Mangrove urges Atlantic Power to return cash – sources

TORONTO/NEW YORK (Reuters) – Hedge fund Mangrove Partners is urging Atlantic Power Corp (ATP.TO: Quote, Profile, Research, Stock Buzz) to return cash to shareholders and could push for a possible sale or break-up of the company, according to two sources with knowledge of the situation.

Mangrove, which owns about 7.5 percent of Toronto-listed Atlantic, is looking at all options to unlock value at the owner of U.S. and Canadian power plants, the sources said.

Apr 29, 2015

Hedge fund Mangrove urges Atlantic Power to return cash -sources

TORONTO/NEW YORK, April 29 (Reuters) – Hedge fund Mangrove
Partners is urging Atlantic Power Corp to return cash
to shareholders and could push for a possible sale or break-up
of the company, according to two sources with knowledge of the
situation.

Mangrove, which owns about 7.5 percent of Toronto-listed
Atlantic, is looking at all options to unlock value at the owner
of U.S. and Canadian power plants, the sources said.

Apr 23, 2015

CIBC loses advisory vote on executive compensation at AGM

Calgary, April 23 (Reuters) – Canadian Imperial Bank of
Commerce lost an advisory vote on its executive
compensation structure on Thursday, in the face of blowback from
investors over mega payments to two retired executives.

Two of Canada’s top pension fund managers, Ontario Teachers’
Pension Plan Board and the Canada Pension Plan Investment Board
(CPPIB), last week both outlined plans to oppose the bank’s pay
structure in a nonbinding vote.