(Bloomberg) — Canadian stocks halted a three-day slide as energy producers jumped the most since February after OPEC agreed to cut production for the first time in eight years, while BlackBerry Ltd. rose to the highest in six months after saying it will stop making smartphones.The S&P/TSX Composite Index surged 1.2 percent to 14,731.43 at 4 p.m. in Toronto, extending gains in afternoon trading after sinking 1.6 percent in the past three sessions. The index has advanced 4.7 percent since the end of June, the most in two years.That’s made Canadian stocks more expensive than U.S. peers, with a price-to-earnings ratio of 23.5 maintaining a 15 percent premium over the S&P 500 Index. The current valuation of Canadian equities is near the highest levels in 14 years, according to data compiled by Bloomberg.Canadian Natural Resources Ltd. and Crescent Point Energy Corp. surged at least 5.9 percent to lead a 3.7 …
(Bloomberg) — Newton Glassman, who runs Canada’s second-biggest private equity firm, learned a valuable lesson after battling short sellers for much of 2016 at his lending subsidiary, Callidus Capital Corp.“I will never be the CEO of a public company ever again in my life,” Glassman said in an interview at Bloomberg’s headquarters in New York this month. “It is not a fun experience for me. I actually don’t think it’s the best use of my skills, and I don’t think I have the right personality for it.”Glassman, 52, runs Callidus from Toronto, alongside Catalyst Capital Group Inc., his private equity firm which has about $6 billion under management. Known for his bulldog approach to business — including a tendency to litigate — he’s participated in some of the biggest restructurings in Canada, including Canwest Global Communications Corp., IMAX Corp. and Hollinger Inc. One judge described …
OTTAWA, ONTARIO, Sep 28, 2016 (Marketwired via COMTEX) —
OTTAWA, ONTARIO–(Marketwired – Sep 28, 2016) – Innovation, Science and Economic Development
Canada’s business framework laws play a key role in ensuring that investors have confidence in the way corporations are governed. This confidence contributes to economic growth that benefits all Canadians. Given that today’s marketplace operates in a rapidly changing environment, it is critical that business frameworks provide a foundation on which companies can innovate and grow to scale in the modern economy.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, today announced the tabling of a bill entitled An Act to amend the Canada Corporations Business Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act and the Competition Act. The bill introduces amendments that will increase shareholder democracy and participation, support the push to increase women’s participation on corporate boards and in senior management, and improve corporate transparency …
Sirius XM Canada Holdings Inc., the parent company of Sirius XM Canada Inc., reported a 4.4 per cent boost in revenue for the fourth quarter of 2016, up to $87,408,000 from $83,709,000 in the fourth quarter of 2015. The company said its year-over-year improvement comes as a result of growth in its subscriber base. Sirius XM Canada’s total revenue in the fiscal year was $341,327,000, or an increase of 4.7 per cent from $325,874,000 in 2015.
Last month, shareholders voted in favour of a proposal to take the satellite radio business private at a special meeting. This followed weeks of objections from minority shareholders concerned that investors were getting shortchanged by the deal. The proposed transaction has also received court approval.
First announced in May, the offer of $4.50 per share in cash or stock is subject to a complaint by some of those minority shareholders at the Ontario Securities Commission.
Pending CRTC approval, the proposal will see two …
As Canadians breathe a sigh of relief following Iranian Canadian Professor Homa Hoodfar’s release from Iran’s infamous Evin prison, Prime Minister Justin Trudeau issued a statement, which among other things extended a hand to Iran by thanking “those Iranian authorities who facilitated her release and repatriation. They understand that cases like these impede more productive relations.” To be sure, Professor Hoodfar’s release highlights the benefits of diplomatic engagement and could be the beginning of a shift in Canada-Iran relations.While Canada’s closest international partners re-engage Iran and establish diplomatic and/or economic ties, Ottawa has understandably been taking its time on playing catch up. In the absence of diplomatic relations, Canada had reportedly concluded over the summer that Oman, a country with close ties to Iran, would be best positioned to advance Canada’s pursuit of Professor Hoodfar’s release.
What Professor Hoodfar’s release reflects is that diplomacy with Iran is effective …
Royals visit CanadaBritain’s Prince William and his wife Catherine, Duchess of Cambridge, leave the McBride Museum in Whitehorse, Yukon, on Wednesday, September 28. The royal couple and their two children are on an eight-day visit to Canada. Hide Caption 1 of 28 Royals visit CanadaWilliam meets Canadian Rangers as he arrives at Whitehorse Airport on Tuesday, September 27.Hide Caption 2 of 28 Royals visit CanadaWilliam and Catherine attend a Kelowna University volleyball game in Kelowna, British Columbia, on September 27.Hide Caption 3 of 28 Royals visit CanadaCatherine visits Kelowna’s Mission Hill Winery on September 27.Hide Caption 4 of 28 Royals visit CanadaWilliam joins in the Black Rod ceremony at …
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OTTAWA — Canadian leaders of all stripes are paying tribute to Shimon Peres, remembering the Israeli statesman for his tireless dedication to Israel and peace.Prime Minister Justin Trudeau, interim Conservative leader Rona Ambrose and Gov. Gen. David Johnston were just some of those who remembered the former Israeli leader and Nobel laureate who died Wednesday at the age of 93.”Shimon Peres was, above all, a man of peace and a man dedicated to the well-being of the Jewish people,” Trudeau said.”Mr. Peres made an enormous contribution to the founding and building of the State of Israel. He devoted his …
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Minister Duncan speaks on the importance of Arctic science and STEM education
September 28, 2016 – Ottawa – Innovation, Science and Economic Development Canada
The Arctic is a remote and delicate ecosystem that northern communities have relied on for centuries. These communities are facing serious environmental and social challenges, ranging from dealing with the effects of climate change to ensuring their young people have the skills necessary for the 21st-century economy.
Arctic science and evidence-based policy are vitally important to tackling the challenges that Arctic communities in Canada and around the world are facing. The Government of Canada recognizes the importance of …
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The Duke and Duchess of Cambridge have spent a romantic night away from their children in the Canadian wilderness, with dancing, jacuzzis and a riverside fire.
The Royal couple spend the night in Whitehorse, Yukon, in the north of Canada, watching a dance performance and spending sunset around a picturesque fire pit.
For the first and only time in their nine-day trip, Prince George and Princess Charlotte were left back in Victoria, British Columbia, with their nanny, giving the Duke and Duchess time to enjoy the evening together.
The Duke and Duchess spent time around a fire pit
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(Recasts lead, adds analysis, quotes, background)By David Ljunggren and Nia Williams Canada’s approval of a
natural gas plant is not a sign it will automatically let Kinder
Morgan Inc expand a crude pipeline, a top official said
on Wednesday, amid what sources say is uncertainty inside the
government over the project.In its first major energy decision since taking power last
November, the Liberal government on Tuesday granted a permit to
Malaysia’s Petronas to construct the liquefied natural
gas plant in the province of British Columbia.The federal cabinet has promised that by Dec. 19, it will
announce whether Kinder …
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