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  • 'Milestone' Nortel settlement gets court approval

    January 7, 2014 7:28 PM 18

    WILMINGTON - Defunct telecoms equipment maker Nortel Networks Inc received court approval on Tuesday for a $75 million US deal it called a "significant milestone" in ending its five-year bankruptcy. In return for the payment, insolvent Nortel affiliates in Europe will drop claims seeking more than $3 billion from Nortel's U.S. bankruptcy proceeding

  • Man behind $15-million Ponzi scheme pleads guilty, banned from Ontario capital markets

    January 7, 2014 6:52 PM 16

    The Ontario Securities Commission has approved a settlement that will permanently ban a man who ran a $15-million Ponzi scheme from the province’s capital markets. Kevin Warren Zietsoff operated the fraudulent scheme from 2006 through 2012 and took money from more than 80 investors in Canada and the United States, according the OSC. He “admitted to depriving

  • Medical marijuana industry grows with $12 million investment in Lakeshore

    January 7, 2014 3:53 PM 22

    Windsor-Essex’s footprint in the medical marijuana industry grew a little larger Tuesday, with a major investment from CEN Biotech. The WindsorEssex Economic Development Corporation, in correlation with Cen Biotech announced a $12 million investment to grow the medical marijuana industry in Lakeshore. “The review of policies governing the control of medical

  • MTS announces departure of Allstream president

    January 7, 2014 3:19 PM 25

    Dean Prevost, president of MTS Inc.’s Allstream division, is stepping down, the company said Tuesday, making him the second high-level executive to depart since the federal government rejected the sale of the unit to a foreign buyer in October. Michael Strople, Allstream’s chief operating officer, will replace Mr. Prevost when he leaves on Jan. 17, MTS said. Analysts

  • San Francisco transit system places US$639 million order with Bombardier

    January 7, 2014 12:50 PM 17

    MONTREAL - San Francisco's transit system has awarded a US$639-million confirmed order to Bombardier Inc. (TSX:BBD.B), part of a long-term contract signed in June 2012. Bombardier Transport says San Francisco's Bay Area Rapid Transit (BART) has ordered an additional 365 rail cars, bringing the number of firm orders under the contract to 775 cars. The company

  • Woman linked to Sandy Winick in breach of securities law

    January 6, 2014 11:19 PM 24

    Andrea McCarthy, who was romantically involved with alleged penny stock fraudster Sandy Winick, is found guilty of breaking Ontario securities law. An Ontario woman who was romantically linked to alleged penny stock fraudster Sandy Winick has been found guilty of breaking securities law. In a written decision released Monday, Ontario Securities Commission

  • Plan for 24-storey apartment building in east Exchange District to move forward

    January 6, 2014 8:37 PM 19

    A 24-storey apartment building proposal for the site of the James Avenue pumping station has been given the green light at city hall in Winnipeg. A committee rejected an appeal from dozens of condo owners around Waterfront Drive who have concerns a tower of that size will cast shadows and block views. The approval allows the developer to bypass city rules

  • Clock's ticking on RRSP deadline

    January 6, 2014 7:52 PM 18

    Understanding the family finances from a "big picture" standpoint can be a very daunting and intimidating exercise to tackle. It seems that as we hurdle through life's challenges, it is easy to get caught up in the day-to-day activities and roll from one bill to the next without giving much thought to an end goal. At some point, we are going to need to rely on any savings

  • CIBC changes up its equity capital markets group

    January 6, 2014 7:09 PM 24

    The new year has brought a series of changes in the equity capital markets group at CIBC World Markets. The latest changes were set in motion by the decision of Scott Smith, Managing Director and Head, Equity Capital Markets Syndication, to leave the firm. It’s understood that Smith is set to join BMO Capital Markets in a month or so. As a result, according

  • Toronto home sales in December up 14% compared to one year ago

    January 6, 2014 5:35 PM 19

    TORONTO -- December home sales in Toronto were up almost 14 per cent compared with a year earlier, the Toronto Real Estate Board said Monday. The board said sales through its multiple listings service totalled 4,078 for the month, up from 3,582 in December 2012. Sales for all of 2013 totalled 87,111, up about two per cent compared with 85,496 in 2012. "After