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Business Canada

  • CALGARY, Alberta, March 30- Cenovus Energy shares had their biggest one-day percentage fall ever on Thursday as investors balked at the company's C $17.7 billion cash and stock deal to buy oil sands and natural gas assets from ConocoPhillips. The company will become the sole owner of its flagship Foster Creek and Christina Lake oil sands projects and is also...

  • TORONTO _ Westaim Corp. on Thursday reported a loss of $900,000 in its fourth quarter. The Toronto- based company said it had a loss of 1 cent per share. For the year, the company reported a loss of $8.3 million, or 6 cents per share, swinging to a loss in the period.

  • VANCOUVER, British Columbia _ MAG Silver Corp. on Thursday reported a loss of $50.3 million in its fourth quarter. MAG Silver shares have climbed 22 percent since the beginning of the year. Keywords: MAG Silver, Earnings Report.

  • TORONTO, March 30- Canadian Imperial Bank of Commerce said on Thursday it had raised its takeover offer for PrivateBancorp Inc by 20 percent to about $4.9 billion, after some of the Chicago- based lender's shareholders opposed an initial bid. The move came ahead of a June 29 deadline for the deal to be approved and about nine months after the Canadian bank made its...

  • MONTREAL/QUEBEC CITY, March 30- Bombardier Inc should reflect on pay raises of up to 50 percent for its senior executives in light of a public backlash over company layoffs of thousands of employees, Quebec's economy minister said on Thursday. Total compensation for the Canadian plane and train maker's top five executives and board chairman rose to $32.7...

  • TORONTO, March 30- Canada's main stock index pulled back from a one-month high on Thursday as deal-related news pressured shares of Cenovus Energy Inc and Canadian Imperial Bank of Commerce. Cenovus shares had their biggest one-day percentage fall ever, down 13.75 percent at C $15.05, after the Canadian company agreed to buy oil sands and natural gas assets...

  • TORONTO, March 30- An Ontario court judge on Thursday approved the sale of a downtown Toronto hotel and condominium high-rise bearing U.S. The court-run sale of the tower, which includes 211 hotel rooms, 74 residential units, as well as commercial, retail and amenity space, had received no bids apart from JCF Capital's stalking horse offer of C $298 million.

  • Justice Glenn Hainey of the Ontario Superior Court of Justice approved the $298 million Canadian "stalking horse" bid from San Diego investment firm JCF Capital ULC. Schnaider's company, Talon International, defaulted on a loan from an Austrian bank, which sold the loan to JCF Capital. JCF Capital made it known to the court it was prepared to own the property if no...

  • BUENOS AIRES/ TORONTO, March 30- Argentina's San Juan province ordered Barrick Gold Corp to suspend some activities at its Veladero mine after a pipe carrying gold-bearing solution ruptured on the leach pad, state-run news agency Telam reported on Thursday. A spokesman for Barrick said the Toronto- based company was confirming its understanding of the order.

  • A ConocoPhillips refinery in Wilmington, California.

    The energy giant announced a $13.3 billion deal to sell its oil sands and natural gas holdings in Canada to Cenovus Energy.

  • TORONTO, March 30- Toronto-Dominion Bank is reviewing its sales practices following reports that staffers were pressured to meet targets, Chief Executive Officer Bharat Masrani said on Thursday at the bank's annual meeting. Canada's financial watchdog is investigating sales practices at the country's banks and expects to conclude its investigation by...

  • MONTREAL/QUEBEC CITY, March 30- Bombardier Inc should consider its decision to award top executives pay rises of up to 50 percent in light of a public backlash at a time when the company has laid off thousands of employees, Quebec's economy minister said on Thursday. Total compensation for the Canadian plane and train maker's top five executives and board...

  • CALGARY, Alberta, March 30- Cenovus Energy shares had their biggest one-day percentage fall ever on Thursday as investors baulked at the company's C $17.7 billion cash and stock deal to buy oil sands and natural gas assets from ConocoPhillips. Cenovus shares were last down 12.8 percent on the Toronto Stock Exchange at C $15.36, while ConocoPhillips shares...

  • TORONTO, March 30- An Ontario court judge on Thursday approved the sale of a downtown Toronto hotel and condominium high-rise bearing U.S. The court-run sale of Trump International Hotel& Tower had received no bids apart from a stalking horse offer of C $298 million by JCF Capital ULC, which bought the C $301 million owed on the tower's construction loan last fall.

  • JAKARTA/ TORONTO, March 30- Freeport McMoRan Inc's Indonesian unit is close to reaching a deal that would allow the world's biggest publicly listed copper producer to temporarily resume concentrate exports, Indonesia's mining minister said on Thursday. Energy and Mineral Resources Minister Ignasius Jonan said a new deal would allow Freeport to resume...

  • CALGARY, Alberta _ NXT Energy Solutions Inc. on Thursday reported a fourth-quarter loss of $1.8 million, after reporting a profit in the same period a year earlier. The Calgary, Alberta- based company said it had a loss of 3 cents per share. Keywords: NXT Energy Solutions, Earnings Report.

  • ONTARIO SUPERIOR COURT APPROVES JCF CAPITAL'S STALKING HORSE BID FOR TRUMP INTERNATIONAL HOTEL& TOWER- RECEIVER.

  • March 30- Canadian Imperial Bank of Commerce said on Thursday it has raised its offer for PrivateBancorp Inc by 20 percent to about $4.9 billion, after some of the Chicago- based lender's shareholders opposed an initial bid. The move came ahead of a June 29 deadline for the deal to be approved and about nine months after the Canadian bank made its initial $3.8...

  • CALGARY, Alberta, March 30- Cenovus Energy shares had their biggest one-day percentage fall ever on Thursday as investors baulked at the company's C $17.7 billion deal to buy oil sands and natural gas assets from ConocoPhillips. Cenovus shares were last down 12 percent on the Toronto Stock Exchange at C $15.36, while ConocoPhillips shares jumped 9 percent.

  • WINNIPEG, Manitoba/ NEW DELHI, March 30- India will exempt Canada for three months from its policy that so-called pulse crops such as peas and lentils must be fumigated with methyl bromide to kill insects before leaving the country of origin, the Canadian government said on Thursday. Sources in India said the exemption applies to all countries and crops, but...