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January 14, 2019 5:13 PM Air Canada and Jazz parent extend agreement, securing regional airline’s future

Chorus says the agreement, announced Monday, will grow its revenues by $940 million for a contracted total of $2.5 billion in aircraft leasing and fixed fees over the next 17 years. The deal also amends a 2015 agreement by lowering the fixed fees and incentive revenue Chorus receives by about $50 million annually. Under the new contract, Air Canada will make an equity 435

January 14, 2019 11:39 AM Newmont Mining to buy Goldcorp to create one of world’s biggest gold producers

VANCOUVER - Denver-based Newmont Mining Corp. and Goldcorp Inc. of Vancouver have agreed to combine their gold companies in a deal worth about US$10 billion. The companies announced today that Newmont will exchange 0.328 of a share and two cents for each of Goldcorp’s outstanding common shares. The deal has the unanimous support of the directors of both companies 408

January 8, 2019 5:08 PM Washington State regulator denies bid to reconsider Hydro One-Avista deal

Washington state regulators have denied a request from Hydro One and Avista Corp. to reconsider the rejection of the Ontario utility’s planned multibillion-dollar takeover of the American company. The Washington Utilities and Transportation Commission says it will take no action on the request, which was made after regulators found the $6.7-billion planned 144

January 8, 2019 4:50 PM New Gold shares climb on operating results that met revised guidance

Production for the year at the two mines, plus the now-shut Cerro San Pedro mine, came in at 315,483 ounces to fall within its revised guidance of between 275,000 and 330,000 ounces. The company announced the sale of its Mesquite gold mine in California for US$158 million last September. The company revised down expected production for its Rainy River 135

January 4, 2019 7:52 PM Trade tensions prompt supply chain changes for firms in China

On Wednesday afternoon, Apple Inc. cut guidance sending its stock down 10 per cent and the S&P 500 down 2.5 per cent. CEO Tim Cook, in a letter to investors, cited trade issues, “We believe the economic environment in China has been further impacted by rising trade tensions with the United States.” The following morning, Kevin Hassett, chairman of the U.S. Council 125

January 4, 2019 3:40 PM HBC stock climbs after exec. purchases about 18 million of the retailer’s shares

Baker and Rupert of the Rhine already have a large stake in the company and the purchased shares represent about 9.76 per cent of the issued or outstanding common shares on a non-diluted basis. The purchase caused HBC's stock to climb to $8.52 and comes a month after HBC announced it had a third-quarter net loss of $164 million or 69 cents per share 114

January 3, 2019 11:22 PM Apple bombshell shakes financial markets to the core

While Apple’s stunning announcement this week shook financial markets, its cause could shake the Canadian economy. As one of the world’s biggest tech companies announced Wednesday it was lowering its profit estimates, Apple CEO Tim Cook suggested a slowing Chinese economy — resulting in lower iPhone sales — was largely to blame. Stock markets around 131

January 3, 2019 11:05 PM Idaho joins Washington state in denying Hydro One’s takeover of Avista Corp

The Idaho commission, like its Washington counterpart, raised concerns that the Ontario government, which owns 47 per cent of Hydro One’s shares, might meddle in Avista’s operations. It pointed to Ontario Premier Doug Ford’s move to force former Hydro One CEO Mayo Schmidt to retire, which was followed by the resignation of the entire 14-member board 127

January 3, 2019 4:29 AM Lawyers try to seize Japanese assets over Korean forced work

Lim said Nippon Steel has been refusing to discuss compensation despite a ruling by South Korea’s Supreme Court in October that the company should pay 100 million won ($88,000) each to four plaintiffs who worked at its steel mills during Japan’s colonial rule of the Korean Peninsula. The court made a similar ruling on Japan’s Mitsubishi Heavy Industries 126

December 18, 2018 11:35 PM Hostile Husky takeover bid for MEG Energy now expected to succeed as proposed

Analyst Jon Morrison says in a research report that Investment Canada approval of the proposed deal could at one time have prompted the emergence of a rival bidder — and a higher bid — for MEG, but the weakening macro oil economy of the past couple of months makes it unlikely now. He says he doesn’t expect any of the four most likely competing bidders 136