Caesars Entertainment division files for Chapter 11 bankruptcy protection + MORE Jan 15th

Caesars Entertainment says its main business unit has filed for bankruptcy protection with the support of most of its creditors.
Caesars says in a statement Thursday that its casinos will continue to operate and it expects to get court approval to continuing paying its suppliers.
Chapter 11 bankruptcy protection gives companies a window to carry out a restructuring to restore financial viability without being forced into bankruptcy by companies or individuals owed money.
Caesars has struggled after missing out on the casino boom in Asia. It was also reluctant to upgrade and expand in its traditional U.S. markets.
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TOKYO – Global stock markets swung higher Thursday, led by a surge in Chinese shares, extending a volatile pattern of sharp sell-offs and rousing gains as investors second guess uncertain prospects for the world economy.
KEEPING SCORE: Britain’s FTSE 100 jumped 1.1 per cent to 6,459.44. France’s CAC 40 was 1.1 per cent higher at 4,268.83 and Germany’s DAX added 1.3 per cent to 9,939.39. U.S. shares were also set to rise. Dow futures were up 0.8 per cent to 17,500. S&P 500 futures gained 0.8 per cent to 2,023.40.
GLOBAL WORRIES: Markets have been jittery so far this year as sharp drops in oil and metal prices raise doubts about the strength of the global economy. The World Bank also gave investors pause for thought, lowering its global growth forecast for this year to 3 per cent from 3.4 per cent; it blamed sluggish economies in Europe and Japan and a slowdown in China. Weak U.S. retail sales for December added to nerves about the economic outlook.
THE QUOTE: “Volatility continues to show its hand, although this could be the new normal,” said IG strategist Chris Weston in a market commentary…

This GIC rate is offered by Oaken Financial and was updated on 2014-12-19. Click on the link above to get more details or apply online.

BlackBerry CEO John Chen. (Dave Chidley/The Canadian Press)
TORONTO – BlackBerry has responded to a dramatic jump in its stock price, saying late Wednesday that it has not engaged in discussions with Samsung Electronics Co. Ltd. about a possible takeover.
The response followed a report from Reuters news agency which said Samsung has met with executives over the possibility of buying BlackBerry for as much as US$7.5 billion. The news agency cited both a source familiar with the talks and related documents.
BlackBerry shares jumped nearly 30 per cent after the report emerged, leading the company to react with a public statement.
“BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said.
The comments from BlackBerry did not address whether Samsung has expressed interest in BlackBerry that executives at the company haven’t entertained.
However, the company said its policy is “not to comment on rumours or speculation and, accordingly, it does not intend to comment further…

This GIC rate is offered by DUCA Financial Services and was updated on 2014-11-28. Click on the link above to get more details or apply online.