Stock in structured-finance firm Coventree lost more than half its value Tuesday after it said various Coventree-sponsored trusts could not fund maturities of Canadian asset-backed commercial paper due to what it called a "market disruption."
Alcan, which is fending off a hostile $28.8 billion bid from U.S. rival Alcoa, is closer to arranging a rival friendly deal and is expected to make an announcement this week, according to sources familiar with the situation.
Central African Mining & Exploration Company (CAMEC) said on Monday it planned to make an all-share bid for Canada's Katanga Mining, valuing the target at 773.1 million pounds ($1.56 billion).
The battle to take over Canada's biggest telephone company, BCE, may not be over yet, with other suitors saying they are considering their options, The Globe and Mail reported on Monday.
BC, Canada's largest telecommunications group, announced the biggest buyout in Canadian corporate history on Saturday, accepting an offer worth C$51.7 billion ($48.5 billion), including debt, from a group including the Ontario Teachers Pension Plan.
A spokesman for U.S.-based Cerberus Capital Management said it will also make a bid for BCE, Canada's biggest telecom company.
Swiss private bank EFG International said on Wednesday it would buy Toronto-based Bull Wealth Management, further pursuing its strategy of growing rapidly through acquisitions.
Big business is on the back burner at the Group of Eight summit. Instead of focusing on concerns about hedge funds, fluctuating currencies and better transparency in financial dealings, the world's eight wealthiest nations are putting their full focus on climate change and watching to see if a new spat between the U.S. and Russia could develop into another cold war.
Rio Tinto, the world's second-largest mining group, dismissed talk that it was lining up a bid for Canadian aluminum maker Alcan as speculation, but did not todeny the rumor outright.
Research In Motion co-chief executive Jim Balsillie will buy the National Hockey League's Nashville Predators, according to several published reports.
Russian metals giant Norilsk Nickel has aised its offer for Canadian miner LionOre to C$27.50 ($25.30) a share, valuing the company at approximately C$6.8 billion ($6.26 billion), Norilsk said on Wednesday.
The best way to ride the rally? Play the global marketplace, said two portfolio managers on “Closing Bell.” Christopher Smart, director of international investments at Pioneer Investments, said emerging markets show strong demographic trends. He’s eyeing South Africa, for example. ... But Donald Coxe, a global portfolio strategist at BMO Financial Group, urges investors to exercise caution. He thinks Canadian and Australian markets are the wisest choices, especially in the mining sector: “You don’t have the kinds of risk you have in Russia.”
The Royal Canadian Mint unveiled a welcome addition to any piggy bank on Thursday -- a monster gold coin with a face value of C$1 million (US$903,000) that it says is the world's biggest, purest and highest denomination coin.
The head of the Canadian Auto Workers says he will try to thwart billionaire investor Kirk Kerkorian's bid for Chrysler, fearing Kerkorian will cost thousands of workers their jobs.
Mining company Xstrata said Monday it has made a 4.6 billion Canadian dollar ($4 billion; 3 billion euros) takeover bid for Canada's LionOre Mining International.
Best Buy plans to open about 130 stores in the United States, Canada and China during its fiscal year beginning March 4, the company said today.
Marsh & McLennan agreed in principle to sell Putnam Investments to Power Corp. of Canada for $3.9 billion, The Wall Street Journal reported Friday.