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Proposed auction of Performance Sports Group's assets raises ire + MORE Nov 16th
U.S. court receives objection from insolvent sporting good manufacturers’ shareholders over fairness of proposed asset auction
.... More »
Iran exports first oil shipment to Europe since nuclear deal + MORE Feb 14th
TEHRAN, Iran – Iran says it has exported its first crude oil shipment to Europe since it reached a landmark nuclear deal with world powers, the official IRNA news agency reported Sunday.
IRNA quoted Deputy Oil Minister Rokneddin Javadi as saying the shipment was the first in five years and mar.... More »
Premarket: Shares shrug as Trump fires off tariffs on $200-billion of Chinese goods - The Globe and Mail + MORE Sep 18th
The Globe and MailPremarket: Shares shrug as Trump fires off tariffs on $200-billion of Chinese goodsThe Globe and MailWho's afraid of the big bad trade war? Not world stock markets it seems. The response to U.S. President Donald Trump's decision to go ahead next week with collecting 10 pe.... More »
CDRs vs US blue-chip stocks: Which makes more sense for Canadian Investors Mar 23rd
In mid 2021, Canadian investors gained a significant new way of accessing popular U.S. blue-chip stocks. Canadian depositary receipts (CDRs) resemble the more established American depositary receipts (ADRs).
What are ADRs?
ADRs are a way to gain easy access to global stocks in U.S. dollars tra.... More »
Swiss Lonza buys US diet supplement supplier InterHealth + MORE Aug 15th
BERLIN – Pharmaceutical supplier Lonza of Switzerland says it is buying InterHealth Nutraceuticals, Inc., a California-based company that makes ingredients for use in dietary supplements, in a deal worth up to $300 million.
InterHealth, a portfolio company of Kainos Capital, is based in Benici.... More »
Nokia says quarterly profit rose but cautions on outlook
– canadianbusiness.com
HELSINKI – Nokia saw fourth quarter profit grow more than 50 per cent to 498 million euros ($560 million) on a slight increase in sales, but the telecom networks company cautioned it would face some “market headwinds,” especially in China.
The pared-down Finnish company, which sold off HERE mapping services in November after selling its handsets division, didn’t say much about the outlook for 2016 except that the first quarter appeared “challenging.”
Analysts were disappointed at the scant outlook, and the company stock fell 3 per cent to 5.31 euros in early Helsinki trading.
“Nokia didn’t really say much about what it expects for the year. There was a slight weakness in sales but that was patched up by the margins, which were good,” said Sami Sarkamies, chief analyst at Nordea Bank. “Not many surprises here; the result was much as markets had expected.”
Revenue grew 3 per cent for continuing operations in the period, to 3…
The pared-down Finnish company, which sold off HERE mapping services in November after selling its handsets division, didn’t say much about the outlook for 2016 except that the first quarter appeared “challenging.”
Analysts were disappointed at the scant outlook, and the company stock fell 3 per cent to 5.31 euros in early Helsinki trading.
“Nokia didn’t really say much about what it expects for the year. There was a slight weakness in sales but that was patched up by the margins, which were good,” said Sami Sarkamies, chief analyst at Nordea Bank. “Not many surprises here; the result was much as markets had expected.”
Revenue grew 3 per cent for continuing operations in the period, to 3…
Rio Tinto posts $866M loss, blames deteriorating economy
– canadianbusiness.com
SYDNEY – Mining company Rio Tinto said Thursday it suffered a loss of $866 million in 2015 as deteriorating economic conditions around the world pressured prices of commodities such as iron ore and coal.
The Australian mining giant on Thursday reported that 2015 revenue slumped to $34.8 billion from $47.6 billion the year before. It earned profit of $6.5 billion in 2014.
Rio said it will reduce capital expenditure to $4 billion this year and $5 billion in 2017, which is $3 billion less than its previous plan.
The company’s earnings statement said the global economy “presented significant challenges to the mining industry” last year.
Growth in developing economies “solidified” but was not strong enough to boost global trade while a slowdown in Chinese industry and construction was “negative for commodity demand.”
Rio said the least efficient commodity producers are “exiting” the business but the gradual withdrawal of supply is insufficient to boost prices without an improvement in demand…
The Australian mining giant on Thursday reported that 2015 revenue slumped to $34.8 billion from $47.6 billion the year before. It earned profit of $6.5 billion in 2014.
Rio said it will reduce capital expenditure to $4 billion this year and $5 billion in 2017, which is $3 billion less than its previous plan.
The company’s earnings statement said the global economy “presented significant challenges to the mining industry” last year.
Growth in developing economies “solidified” but was not strong enough to boost global trade while a slowdown in Chinese industry and construction was “negative for commodity demand.”
Rio said the least efficient commodity producers are “exiting” the business but the gradual withdrawal of supply is insufficient to boost prices without an improvement in demand…
Real Matters expected to secure more than $70-million in financing
– theglobeandmail.com
Sources say the Markham, Ont.-based real estate information provider is raising between $70-million and $75-million, entirely from Canadian institutional investors
TSX slumps again on lower crude and commodities
– thestar.com
The Toronto stock market pulled back at the close amid lower commodity prices and words of caution on the global economic recovery from the head of the U.S. Federal Reserve.
Oil price drop pushes Total profit down 26 per cent
– canadianbusiness.com
PARIS – Total says its fourth quarter earnings skidded 26 per cent as the collapse in oil prices hit another global energy giant.
The French company said Thursday that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.
Oil prices have been falling for over a year. Brent crude, the benchmark for international oil, hit a 12-year low of $27.10 a barrel in January.
Total has been cutting costs and investment in response. In 2016 Total will cut capital investment by $4 billion to about $19 billion, and will cuts costs by $2.4 billion after $1.5 billion savings in 2015.
Total’s production rose 9 per cent to 2.35 million barrels of oil a day last year.
The post Oil price drop pushes Total profit down 26 per cent appeared first on Canadian Business – Your Source For Business News.
The French company said Thursday that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.
Oil prices have been falling for over a year. Brent crude, the benchmark for international oil, hit a 12-year low of $27.10 a barrel in January.
Total has been cutting costs and investment in response. In 2016 Total will cut capital investment by $4 billion to about $19 billion, and will cuts costs by $2.4 billion after $1.5 billion savings in 2015.
Total’s production rose 9 per cent to 2.35 million barrels of oil a day last year.
The post Oil price drop pushes Total profit down 26 per cent appeared first on Canadian Business – Your Source For Business News.
