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Business Canada

  • Warren Buffett

    Warren Buffett's Midas touch just gave this Canadian company's stock a 10% boost. And, he made a cool 65% profit in the process, writes Breakingviews' Tom Buerkle.

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in its sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • QUEBEC CITY, June 22- Quebec, Canadas second-most populous province, said on Thursday its budget surplus for the year ended March 31 totaled C $4.5 billion, almost double its target, as it spent less and took in more taxes than it had forecast. That put Quebec's S&P rating above Ontario's, which is Canada's most populous province, for the first time since 2006..

  • Berkshire Hathaway Inc's commitment of a C $2 billion credit facility to Home Capital Group Inc, Canada's largest nonbank lender, marks the billionaire's latest effort to shore up a company in dire need of cash. "It's a traditional, opportunistic Berkshire transaction," said Cathy Seifert, a CFRA Research equity analyst, in an interview. "Today's announcement is a...

  • OTTAWA, June 22- Prime Minister Justin Trudeau on Thursday dismissed the idea that Canadian steel exports posed a national security threat to the United States and expressed confidence Canada would escape any punitive measures. Trudeau told a public event in Toronto it was "just silly" to imagine Canadian exports were a threat to the United States, given how...

  • OTTAWA, June 22- Canadian Prime Minister Justin Trudeau on Thursday dismissed the idea that Canada's steel exports might pose a national security threat to the United States, saying he had told U.S. Trudeau, speaking at a public event in Toronto, said the suggestion was "silly". A U.S. administration investigation into whether foreign-made steel imports pose a...

  • TORONTO, June 22- Warren Buffett's Berkshire Hathaway Inc is providing a C $2 billion loan to Home Capital Group Inc and taking a 38 percent stake in the lender, with the U.S. billionaire pitching himself against short-sellers who have targeted the stock as Canada's housing market has turned riskier. Canada's housing market has turned riskier as home prices in...

  • OMAHA, Neb.— Warren Buffett's company is lending $1.5 billion to Home Capital and spending roughly $300 million to purchase nearly 40 percent of the troubled Canadian lender's stock. Toronto- based Home Capital has struggled with liquidity issues since Canadian regulators announced in April they were investigating the mortgage lender.

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close stores as it restructures its operations, following years of declining sales as it has lost customers to big-box retailers, more nimble apparel companies and online merchants. Existing lenders have agreed to provide up to C $450 million in interim financing to help the company,...

  • Mohammed bin Salman of Saudi Arabia

    Oil prices have further to fall, says John Kilduff. But traders should watch the geopolitical situation carefully.

  • TORONTO, June 22- Sears Canada Inc said on Thursday it obtained court protection against creditors to proceed with a restructuring that will include store closures and layoffs as it seeks to recover from years of declining sales. Existing lenders have agreed to provide up to C $450 million in interim financing to help the company, controlled by billionaire...

  • OTTAWA, June 22- Canada's main stock index rose modestly on Thursday as the energy and financial sectors advanced, while non-bank lender Home Capital Group jumped after it said it would get a line of credit from Berkshire Hathaway Inc.. Shares of Home Capital rose 12.2 percent to C $16.76 after it said billionaire Warren Buffett's Berkshire would provide a C $2...

  • Canada's economy is on track to grow at an annual rate of near 3 percent in the second quarter, said Brittany Baumann, macro strategist at TD Securities. The report increases the odds the Bank of Canada will raise interest rates at its next meeting in July, though Friday's inflation report will be key, particularly in regards to the central bank's measures of core...

  • TORONTO— Sears Canada said Thursday it is seeking court protection from its creditors in order to restructure its business. Sears Canada said Thursday it has applied to the Ontario Superior Court of Justice for protection under the Companies' Creditors Arrangement, a Canadian law that gives businesses a chance to operate under court supervision while...

  • TORONTO, June 22- Sears Canada Inc said on Thursday that it had filed for court protection against creditors as the retailer controlled by billionaire Eddie Lampert pursues a plan to restructure its operations. Sears Canada said in a statement that it was seeking protection so it could concentrate on a long-term effort to focus on selling discounted designer...

  • A Sears store in Toronto on its last day of operations in 2014.

    Trading in Sears Canada was halted on Thursday, two days after reports the Canadian retailer was preparing to seek court protection against creditors.

  • Staples store sign

    Sycamore Partners is in advanced talks to buy Staples, people familiar with the matter said Wednesday, in a deal that could top $6 billion.

  • **LONDON- Kristin Forbes, an external member of the Bank's Monetary Policy Committee, gives speech at the London Business School- 1800 GMT. **LONDON- Chris Salmon, Executive Director, Markets, Bank of England, gives opening remarks at the City Mental Health Alliance Graduate Wellbeing in the City event- 1200 GMT. WASHINGTON- Federal Reserve Board Governor Jerome...

  • **LONDON- Kristin Forbes, an external member of the Bank's Monetary Policy Committee, gives speech at the London Business School- 1800 GMT. **LONDON- Chris Salmon, Executive Director, Markets, Bank of England, gives opening remarks at the City Mental Health Alliance Graduate Wellbeing in the City event- 1200 GMT. WASHINGTON- Federal Reserve Board Governor Jerome...

  • TORONTO, June 21- Canada's benchmark stock index edged lower on Wednesday as a slump in oil prices pressured energy and financial shares, offsetting a rally in gold stocks as the U.S. dollar fell. The Toronto Stock Exchange's S&P/TSX composite index inched down 1.07 points, or 0.01 percent, to close at 15,148.53. "You could see some more downside on the TSX as long as...