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Auto-parts maker Linamar says GM’s U.S. strike costing $1-million a day; shares drop - The Globe and Mail Oct 3rd
Auto-parts maker Linamar says GM’s U.S. strike costing $1-million a day; shares drop The Globe and MailLinamar tumbles after warning about impact of GM strike BNNBloomberg.caLinamar shares tumble after warning about impact of GM strike on earnings Yahoo Canada Fina.... More »
Tesla loses $13B in market value after CEO Elon Musk tweets 'stock price is too high' - CBC.ca + MORE May 1st
Tesla loses $13B in market value after CEO Elon Musk tweets 'stock price is too high' CBC.caElon Musk tweet wipes $14bn off Tesla's value BBC NewsTesla shares drop after CEO Elon Musk tweets 'stock price is too high' CNBC TelevisionElon Musk Is Right About Tesla's St.... More »
What can I hold in an FHSA? + MORE Jan 10th
Would Canadians have access to different account types such as GICs and self-directed investing when it comes to the new tax-free first home savings account, which is rumoured to be introduced this year?It seems this would only make sense as it’s the case with other tax-sheltered accounts (i.e.... More »
How to recover financially from divorce + MORE Dec 4th
Right off the top, it’s important to acknowledge that there are no secret strategies for magically avoiding the financial impact of divorce. Divorce is difficult. You may lose half of your assets—or more—during the process of equalization. You may have ongoing spousal support or child supp.... More »
Fitch Downgrades Evergrande and Subsidiaries, Hengda and Tianji, to 'CC' - Fitch Ratings Sep 8th
Fitch Downgrades Evergrande and Subsidiaries, Hengda and Tianji, to 'CC' Fitch RatingsFitch Follows Moody's in Cutting China Evergrande Bloomberg Markets and FinanceEvergrande’s troubles shake China’s property bond market Financial TimesEvergrande Slumps Below 20.... More »
B.C. residents accused of $60-million fraud involving company with no employees
– canadianbusiness.com
VANCOUVER – A British Columbia brother and sister committed US$60-million in fraud in a far-reaching scheme stretching to Taiwan, China and the Republic of Georgia, the B.C. Securities Commission alleges.
The commission issued a notice of hearing against Winter Huang and his sister Vicky Dancho and two B.C.-incorporated companies alleging fraud and illegal securities distribution.
Huang was a director and controlling mind of Pegasus Pharmaceuticals Group Inc., and Careseng Cancer Institute Inc., while Dancho was a director, CEO and president of Careseng Cancer, according to the commission.
It alleged that between 2008 and 2012, Pegasus Pharmaceuticals issued $36.4 million in bonds to Taiwanese investors that included guarantees from Careseng Cancer of repayment of principal at maturity.
“Huang and Dancho knew, or ought to have known, that these guarantees were false as Careseng Cancer had no operations, no employees, no revenue, and less than US$50,000 in assets,” the commission said in a news release Friday…
The commission issued a notice of hearing against Winter Huang and his sister Vicky Dancho and two B.C.-incorporated companies alleging fraud and illegal securities distribution.
Huang was a director and controlling mind of Pegasus Pharmaceuticals Group Inc., and Careseng Cancer Institute Inc., while Dancho was a director, CEO and president of Careseng Cancer, according to the commission.
It alleged that between 2008 and 2012, Pegasus Pharmaceuticals issued $36.4 million in bonds to Taiwanese investors that included guarantees from Careseng Cancer of repayment of principal at maturity.
“Huang and Dancho knew, or ought to have known, that these guarantees were false as Careseng Cancer had no operations, no employees, no revenue, and less than US$50,000 in assets,” the commission said in a news release Friday…
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (12,822.13, up 230.20 points):
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up nine cents, or 10.11 per cent, to 98 cents on 14 million shares.
Wi-LAN Inc. (TSX:WIN). Technology. Down two cents, or 1.28 per cent, to $1.54 on 12.4 million shares.
First Quantum Minerals Ltd. (TSX:FM). Miner. Up 42 cents, or 16.09 per cent, to $3.03 on 10.8 million shares.
Nevsun Resources Ltd. (TSX:NSU). Miner. Up 16 cents, or 4.38 per cent, to $3.81 on nine million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down four cents, or 1.33 per cent, to $2.96 on 8.4 million shares.
Orbite Technologies Inc. (TSX:ORT). Miner. Down eight cents, or 20 per cent, to 32 cents on 7.1 million shares.
Companies reporting major news:
BlackBerry Ltd. (TSX:BB). Wireless communications. Up 32 cents, or 3.31 per cent, to $9.99 on 2.4 million shares. BlackBerry Ltd. has more than doubled the amount of stock it can repurchase from the public market by mid-2016…
Toronto Stock Exchange (12,822.13, up 230.20 points):
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up nine cents, or 10.11 per cent, to 98 cents on 14 million shares.
Wi-LAN Inc. (TSX:WIN). Technology. Down two cents, or 1.28 per cent, to $1.54 on 12.4 million shares.
First Quantum Minerals Ltd. (TSX:FM). Miner. Up 42 cents, or 16.09 per cent, to $3.03 on 10.8 million shares.
Nevsun Resources Ltd. (TSX:NSU). Miner. Up 16 cents, or 4.38 per cent, to $3.81 on nine million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down four cents, or 1.33 per cent, to $2.96 on 8.4 million shares.
Orbite Technologies Inc. (TSX:ORT). Miner. Down eight cents, or 20 per cent, to 32 cents on 7.1 million shares.
Companies reporting major news:
BlackBerry Ltd. (TSX:BB). Wireless communications. Up 32 cents, or 3.31 per cent, to $9.99 on 2.4 million shares. BlackBerry Ltd. has more than doubled the amount of stock it can repurchase from the public market by mid-2016…
Weekly Deals: Jacob Securities’ shaky final months and Frind’s investment problem
– theglobeandmail.com
Mergers, acquisitions, private equity and venture capital deals from Canada and around the world
Business Highlights
– canadianbusiness.com
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US economy is expected to strengthen after weak 4th quarter
WASHINGTON (AP) — The U.S. economy struggled to grow in the October-December quarter as consumer spending, business investment and exports slowed. Yet despite global weakness and shrunken oil and stock prices, many economists expect growth to accelerate on the strength of healthy job gains.
The economy grew at an annual rate of just 0.7 per cent last quarter, less than half the 2 per cent growth rate in the July-September period, the government said Friday.
Though the slowdown late last year could renew doubts about the durability of the 6 1/2-year-old economic expansion, most analysts said they expected the slump to be short-lived.
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Japan introduces negative interest rate to boost economy
TOKYO (AP) — The Bank of Japan on Friday said it will charge lenders that leave too much cash on idle deposit with it, introducing a negative interest rate policy for the first time as it seeks to shore up a stumbling economic recovery…
US economy is expected to strengthen after weak 4th quarter
WASHINGTON (AP) — The U.S. economy struggled to grow in the October-December quarter as consumer spending, business investment and exports slowed. Yet despite global weakness and shrunken oil and stock prices, many economists expect growth to accelerate on the strength of healthy job gains.
The economy grew at an annual rate of just 0.7 per cent last quarter, less than half the 2 per cent growth rate in the July-September period, the government said Friday.
Though the slowdown late last year could renew doubts about the durability of the 6 1/2-year-old economic expansion, most analysts said they expected the slump to be short-lived.
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Japan introduces negative interest rate to boost economy
TOKYO (AP) — The Bank of Japan on Friday said it will charge lenders that leave too much cash on idle deposit with it, introducing a negative interest rate policy for the first time as it seeks to shore up a stumbling economic recovery…
