Energy sector helps lift stocks in Toronto, U.S. stock markets surge higher

Energy sector helps lift stocks in Toronto, U.S. stock markets surge higher
TORONTO — Canada’s main stock index closed higher in a broad rally led by energy stocks, while in the U.S. tech stocks led markets to sharper gains. The S&P/TSX composite index closed up 110.03 points at 16,106.24. In New York, the Dow Jones industrial average closed up 200.64 points at 25,650.88, despite being weighed down by a five per cent drop in Boeing’s stock... Read More

Boeing’s stock takes a hit as more Max 8 planes are grounded

Boeing’s stock takes a hit as more Max 8 planes are grounded
BEIJING — Boeing’s stock plunged 7 per cent Monday as aviation authorities in China, Indonesia and Ethiopia ordered airlines to ground their Boeing 737 Max 8 planes the day after one crashed in Ethiopia, killing all 157 people on board. The crash of the Ethiopian Airlines jet shortly after it took off from Addis Ababa on Sunday is drawing renewed... Read More

US retail sales up just 0.2 pct. as consumers stay cautious

US retail sales up just 0.2 pct. as consumers stay cautious
WASHINGTON — U.S. retail sales rose slightly in January after a sharp drop in December, reflecting caution taken by consumers amid a government shutdown and volatile stock market. Retail sales increased just 0.2 per cent, the Commerce Department said Monday, after a sharp fall of 1.6 per cent in December, the biggest drop in 9 years. The economy has stumbled... Read More

Chipmaker Nvidia to acquire Mellanox for $6.9 billion

Chipmaker Nvidia to acquire Mellanox for $6.9 billion
NEW YORK — Chipmaker Nvidia will acquire network and data transmission company Mellanox for $6.9 billion in an all-cash deal. The acquisition, which equates to $125 per share, has been approved by both companies’ boards and is expected to close by the end of 2019 pending regulatory approval. The companies are frequent collaborators and said Monday that the acquisition would... Read More

Levi Strauss plans to raise up to $587M in IPO

Levi Strauss plans to raise up to $587M in IPO
SAN FRANCISCO — Levi Strauss plans to raise up to $587 million in an initial public offering of company shares. The San Francisco company said Monday that it’s offering approximately 9.5 million shares, while selling stockholders are offering about 27.2 million shares. The stock is expected to be priced between $14 and $16 each. The underwriters will have a 30-day... Read More

Energy sector helps lift stocks in Toronto, U.S. stock markets surge higher

Energy sector helps lift stocks in Toronto, U.S. stock markets surge higher
TORONTO — Energy stocks helped lead Canada’s main stock index higher in late-morning trading, while stocks in the U.S. also pushed higher. The S&P/TSX composite index was up 98.71 points at 16,094.92. In New York, the Dow Jones industrial average was up 114.05 points at 25,564.29. The S&P 500 index was up 30.17 points at 2,773.24, while the Nasdaq composite... Read More

Canadian airlines try to reassure flyers after fatal Boeing 737 plane crash

Canadian airlines try to reassure flyers after fatal Boeing 737 plane crash
MONTREAL — Canada’s two largest airlines say they are confident in the safety of the Boeing 737 aircraft after a fatal crash on Sunday involving an Ethiopian Airlines flight. The accident, which killed all 157 aboard the Boeing 737 Max 8, raised concerns over parallels to the crash of a Lion Air jet that plunged into the Java Sea last October, killing 189 people.... Read More

CGI to buy Swedish technology consulting firm Acando in deal valued at $614.7M

CGI to buy Swedish technology consulting firm Acando in deal valued at $614.7M
MONTREAL — CGI Inc. has signed an agreement to buy Swedish technology consulting company Acando. The Canadian firm valued the deal at $614.7 million, including the debt it plans to assume. Under the offer, which has the unanimous support of the Acando board, CGI says it will pay 41.45 Swedish kronors per Acando share. It says the offer represents a 44.2... Read More

Barrick, Newmont say they’ll work together through Nevada joint venture

Barrick, Newmont say they’ll work together through Nevada joint venture
TORONTO — Barrick Gold Corp. dropped its hostile takeover offer for Newmont Mining Corp. on Monday in favour of a friendly deal to create a joint-venture that will combine the two companies’ mining operations in Nevada. They say the Nevada complex will be the world’s largest gold producer, based on 2018 production of 4.1 million ounces. The two big gold miners... Read More