GE freezes pensions for 20K workers in bid to trim debt pile

GE freezes pensions for 20K workers in bid to trim debt pile
NEW YORK — General Electric is freezing the pension plans of about 20,000 of its workers and offering pension buyouts to 100,000 former employees as it attempts to reduce its mountain of debt. The industrial conglomerate has been selling off assets and streamlining its operations amid sagging profits and other setbacks in recent years. It has about $105.8 billion in... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (16,421.82, down 27.53 points) Aurora Cannabis Inc. (TSX:ACB). Health care. Down 34 cents, or 5.82 per cent, to $5.50 on 7.3 million shares. Encana Corp. (TSX:ECA). Energy. Up 10 cents, or 1.69 per cent, to $6.01 on 6 million shares. Enbridge Inc. (TSX:ENB). Energy. Up two cents, or... Read More

First lady calls for end of e-cigarette marketing to youth

First lady calls for end of e-cigarette marketing to youth
ARLINGTON, Va. — Melania Trump said Monday that companies “must stop” marketing e-cigarettes to children, saying they are addictive and dangerous. Marketing tobacco products to kids is already prohibited in the United States, and Juul Labs Inc., the nation’s largest maker of electronic cigarettes, has said it will cease advertising them in the U.S. Still, some believe Juul’s early online... Read More

South African Impala Platinum offers $1 billion for North American Palladium

South African Impala Platinum offers $1 billion for North American Palladium
TORONTO — South African miner Impala Platinum Holdings Ltd. says it is buying Toronto-based North American Palladium Inc. for about $1 billion in cash. It says it will pay $16 per share to Brookfield Business Partners LP, the majority shareholder with 81 per cent of the stock, and $19.74 per share for the remaining stake, resulting in an average price per share of $16.77.... Read More

Norwegian fund excludes four Canadian firms as it exits oilsands investments

Norwegian fund excludes four Canadian firms as it exits oilsands investments
CALGARY — The largest pension fund in Norway has removed four Canadian energy names from its investment list and says it will no longer put money in companies that derive more than five per cent of their revenue from the oilsands. KLP says it sold US$58 million worth of stocks and bonds as it reduces its tolerance threshold for companies with interests in the... Read More

S&P/TSX composite edges higher as oil prices move up, U.S. stock markets mixed

S&P/TSX composite edges higher as oil prices move up, U.S. stock markets mixed
TORONTO — Canada’s main stock index edged higher in late-morning trading, helped by gains in the energy sector as the price of oil pushed higher. The S&P/TSX composite index was up 4.44 points at 16,453.79. In New York, the Dow Jones industrial average was down 20.41 points at 26,553.31. The S&P 500 index was down 1.52 points at 2,950.49, while... Read More

Major Drilling signs deal to buy Norex Drilling for $19.7 million

Major Drilling signs deal to buy Norex Drilling for $19.7 million
MONCTON, N.B. — Major Drilling Group International Inc. has signed a deal to acquire Norex Drilling Ltd., a family-owned drilling company based in Timmins, Ont., for $19.7 million in cash and stock. Under the deal, Major Drilling has agreed to pay $15.2 million in cash on closing of the deal and $2.0 million in Major Drilling shares, valued on the... Read More