Transportation, Retail and Markets Correspondent, Canada
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Jul 15, 2013

Loblaw to buy Shoppers in $11.9 billion bid to defend Canadian turf

By Solarina Ho and Bhaswati Mukhopadhyay

(Reuters) – Loblaw Cos Ltd, Canada’s largest food retailer, will buy Shoppers Drug Mart Corp, the country’s biggest pharmacy chain, for C$12.4 billion ($11.9 billion) to bulk up against intensifying competition from U.S. retail giants as well as from consolidating local rivals.

News of the tie-up, Canada’s biggest merger and acquisition deal so far this year, sent Shoppers shares soaring 26 percent and Loblaw shares up 8 percent on the Toronto Stock Exchange on Monday.

Jul 15, 2013

Loblaw to buy Shoppers in C$12.4 bln bid to defend Canadian turf

July 15 (Reuters) – Loblaw Cos Ltd, Canada’s largest
food retailer, will buy Shoppers Drug Mart Corp, the
country’s biggest pharmacy chain, for C$12.4 billion ($11.9
billion) to bulk up against intensifying competition from U.S.
retail giants as well as from consolidating local rivals.

News of the tie-up, Canada’s biggest merger and acquisition
deal so far this year, sent Shoppers shares soaring 26 percent
and Loblaw shares up 8 percent on the Toronto Stock Exchange on
Monday.

Jun 26, 2013

Bombardier delays CSeries first flight again, up to a month

TORONTO (Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) on Wednesday delayed the maiden flight of its all-new CSeries jetliner for a second time, the latest setback in the Canadian planemaker’s $3.4 billion bid to compete with bigger rivals.

Bombardier fell as much as 4.5 percent on the Toronto Stock Exchange after the company said it was pushing back its inaugural flight by up to a month.

Jun 26, 2013

Bombardier delays CSeries first flight by up to a month

TORONTO, June 26 (Reuters) – Canada’s Bombardier Inc
delayed the maiden flight of its all-new CSeries
jetliner for a second time on Wednesday, pushing it back by up
to a month.

The news sent its shares down as much as 3.2 percent shortly
after the market opened in Toronto.

Jun 25, 2013

U.S. hedge fund Scout steps up pressure on Tim Hortons

TORONTO (Reuters) – Scout Capital Management, a U.S. hedge fund, said on Tuesday it is urging Canadian coffee and doughnut chain Tim Hortons (THI.TO: Quote, Profile, Research, Stock Buzz) to increase its debt levels in order to fund a share buyback, measures that Scout say should help drive up Tim Horton’s share price by as much as 100 percent from current levels.

The demands to Tim Hortons’ board by New York-based Scout Capital are similar those put forward by rival U.S. hedge fund Highfields Capital earlier this year.

Jun 25, 2013

Scout Capital urges Tim Hortons to boost debt levels

TORONTO, June 25 (Reuters) – Scout Capital Management has
asked Canadian coffee and doughnut chain Tim Hortons to
alter its U.S. expansion strategy and increase debt levels so it
can bolster its capital structure and buy back shares, the U.S.
hedge fund said on Tuesday.

The demands to Tim Hortons’ board by New York-based Scout
Capital largely mirror those put forward by rival U.S. hedge
fund Highfields Capital earlier this year.

Jun 19, 2013

C$ stumbles as Bernanke comments drive broad US$ strength

TORONTO, June 19 (Reuters) – The Canadian dollar fell
sharply against a broadly stronger U.S. dollar on Wednesday and
bond prices slumped after the Federal Reserve expressed optimism
about the U.S. economy and labor market.

Fed chief Ben Bernanke also said the Fed is expected to slow
the pace of bond purchases later this year and bring them to a
halt around mid-2014. The comments weighed on stocks and pushed
bond yields to a 15-month high.

Jun 13, 2013

Lululemon’s Day says CEO search under way, other executives to be named soon

TORONTO (Reuters) – Lululemon Athletica Inc’s (LLL.TO: Quote, Profile, Research, Stock Buzz) (LULU.O: Quote, Profile, Research, Stock Buzz) outgoing chief executive said on Thursday the upscale yogawear retailer has begun its search for a new leader and will soon fill other senior positions.

A chief executive search firm has been selected, Christine Day told an investor conference in Chicago.

Jun 13, 2013

Analysis: Bombardier gambles on big order payoff with new jet

TORONTO (Reuters) – Canada’s Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) is hoping to carve a new niche in the cutthroat airplane market with a fuel-efficient, medium-haul jet that makes its first flight this month, but its all-new CSeries needs an avalanche of orders to stave off bigger rivals.

Bombardier’s narrow-body CSeries, aimed at a gap in the market, offers a lightweight carbon-composite frame like Boeing Co’s (BA.N: Quote, Profile, Research, Stock Buzz) 787 Dreamliner, and new, fuel-saving Pratt & Whitney engines.

Jun 13, 2013

Bombardier gambles on big order payoff with new jet

TORONTO, June 13 (Reuters) – Canada’s Bombardier Inc
is hoping to carve a new niche in the cutthroat
airplane market with a fuel-efficient, medium-haul jet that
makes its first flight this month, but its all-new CSeries needs
an avalanche of orders to stave off bigger rivals.

Bombardier’s narrow-body CSeries, aimed at a gap in the
market, offers a lightweight carbon-composite frame like Boeing
Co’s 787 Dreamliner, and new, fuel-saving Pratt & Whitney
engines.

    • About Solarina

      "I am a Canadian transportation, retail and markets correspondent. I occasionally moonlight in entertainment and lifestyle news. I was formerly a homepage editor for Reuters.com, and an online news editor for Reuters.com, .co.uk and .ca. Life before Reuters included working in China and freelancing in California."
      Joined Reuters:
      2003
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