Morneau faces more questions despite promise to sell shares, use blind trust + MORE Oct 20th

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The fallacy of a “stock-picker’s market” + MORE Oct 29th

Investors might find this hard to believe, but there is no such thing as a “stock-picker’s market.” When one stocker-picker “wins,” the investor on the other side of the trade “loses” by an identical amount. It’s a basic concept that many in the financial services sector have.... More »

HBC investors want debt reduction, payouts from real estate proceeds + MORE Nov 14th

Activist hedge fund wants Hudson’s Bay to sell or convert stores to alternate uses and transform itself into a real estate play .... More »

Shell beats expectations as profit jumps on refining + MORE Nov 2nd

Third-quarter earnings rise to $4.1-billion, compared with $2.8-billion a year earlier .... More »

Loblaw closing 22 stores, launching home delivery ahead of ‘difficult year’ + MORE Nov 15th

VANCOUVER _ Loblaw Companies Ltd. is closing 22 stores and launching home delivery in two major Canadian cities, ahead of what it believes will be a challenging new year. The grocery and pharmacy giant has finalized a plan that will result in the closure of 22 unprofitable stores across a range of i.... More »
Jerry Storch is stepping down as chief executive of Hudson’s Bay Co. effective Nov. 1, the retailer announced after the close of stock markets on Friday.

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One day after he promised to sell off at least $21 million worth of family assets, Finance Minister Bill Morneau is facing still more questions over how he handled his personal fortune when he entered government in 2015.
In hope of quieting conflict of interest accusations, the former businessman has said he would unload about one million shares in the family business, called Morneau Shepell, that he helped build over 25 years.
But despite his efforts — he also promised to place his other substantial personal assets in a blind trust — the controversy refused to die Friday during a media event in Waterloo, Ont.
Morneau continued to insist that he followed the advice of the ethics commissioner to the letter after he was elected and reject any suggestions he has been in a conflict of interest.
However, in a couple of responses Friday he appeared to show some impatience as he fielded more questions about his credibility and personal finances. Similar queries had already followed him all week…

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Shares of Concordia International Corp. (TSX:CXR) plunged below $1 on Friday after the Ontario-based drug company announced its intention to reduce its debt by more than $2 billion under a proposed recapitalization transaction.
Concordia had traded above $100 for a time in mid-2015 before its fall. Its shares were down 35 cents or about 30 per cent at 83 cents after the announcement.
The speciality drug company is making the move under the Canada Business Corporations Act which it noted is not a bankruptcy or insolvency statute.
But Concordia says several payments to unsecured lenders will not be paid and its proposal may result in a sizable dilution of its shares, though the extent was not known at this time.
Concordia says its management will continue to lead day-to-day operations through the process and operate its business.
“The decision to use the CBCA process to achieve our financial goals was a strategic one that we believe will protect our business, preserve our cash, and give us extra time to negotiate with lenders to ensure we achieve the best possible transaction for our company, employees, suppliers, customers and other business partners,” chief executive Allan Oberman said in a statement…

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Plans are underway to supply Churchill, Man., with an ice road as the rail link that normally provides a lifeline to the community remains out of commission.
Mark Kohaykewych, president of Polar Industries, said Friday the company has partnered with the Fox Lake Cree Nation and Churchill-based Remote Area Services to carve out an ice road along the 300 kilometres of wilderness between the end of the working rail line at Gillam, Man., and Churchill.
He said the partners hope to see some financial support from the Manitoba government, but for now plan to operate on their own tight budget.
“This is a go. Right now without any support from any level of government, we’re sort of tied to a shoestring budget. But we’re hoping that they’re going to come to the table and step up and assist us,” he said.
Kohaykewych said they plan to haul construction equipment and supplies, fuel, as well as potentially food and necessities for stores in the town.
He said the route would take about 30 hours to run, but that time could be cut by as much as half if the company has enough resources to run dedicated teams to maintain the route…

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Twitter is terrible—but it’s also greatIn this July 27, 2016, file photo, the Twitter symbol appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
Earlier this week, comedian Joe Mande announced he would be logging off Twitter for good. Mande, a writer for the last three seasons of the hit NBC series Parks and Recreation, garnered a reputation on the social-media network for trolling celebrities, multinational corporations, and even President Donald Trump’s youngest son Barron. In his announcement, Mande noted that Twitter was “stupid as f–k,” and has “basically become a place we all go to scream about, and thereby indulge, the mental illness of a demented 71-year-old comic-book villain. If it’s not that, then we’re screaming at someone we don’t agree with, or screaming at someone we do agree with, because that person did something we don’t agree with enough.”
Mande isn’t wrong. For several years, Twitter has failed to deal with its most toxic elements…

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