Desjardins CEO announces departure of two senior execs after data breach

Desjardins CEO announces departure of two senior execs after data breach
MONTREAL — Desjardins Group has shown two senior executives the door in the wake of a data breach that affected all 4.2 million of its members. The management restructuring, which came following an internal review, leaves chief operating officer Denis Berthiaume and senior information technology vice-president Chadi Habib out of a job. “Desjardins has come to a mutual agreement with... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,892.18, down 89.29 points.) Continental Gold Inc. (TSX:CNL). Mining. Down six cents, or 1.11 per cent, to $5.33 on 11.6 million shares. Bombardier Inc. (TSX:BBD.B). Industrial. Down six cents, or 2.99 per cent, to $1.95 on 9.8 million shares. Harte Gold Corp. (TSX:HRT).... Read More

Catalyst Capital seeks Ontario Securities Commission hearing in HBC fight

Catalyst Capital seeks Ontario Securities Commission hearing in HBC fight
An investment firm and Canada’s oldest retailer will face off at a hearing at the Ontario Securities Commission as the battle to take Hudson’s Bay Co. private heats up. Catalyst Capital Group Inc. said late Monday it filed a notice of application for a hearing with the OSC to block a privatization bid led by HBC executive chairman Richard Baker.... Read More

Cleveland-Cliffs buying AK Steel in $1.1B stock deal

Cleveland-Cliffs buying AK Steel in $1.1B stock deal
Cleveland-Cliffs will buy AK Steel in a stock deal valued at about $1.1 billion. The companies say the tie-up will create a vertically integrated company that pairs Cleveland-Cliff’s iron ore pellet production with AK Steel’s rolled and stainless steel operations. Cleveland-Cliffs is the largest producer of iron ore pellets in North America. After a brief spike in prices, U.S. steel... Read More

If you need to ship your holiday gifts, plan ahead or end up paying more

If you need to ship your holiday gifts, plan ahead or end up paying more
When Jordann Brown was a student, she once was so caught up with exam season that she forgot to get her Christmas gifts in the mail ahead of the holidays. “If you miss the shipping deadline, there’s not a lot you can do in terms of getting your package where it needs to go on time without paying a lot of money,”... Read More

Suncor keeps 2020 oil budget flat, approves $300-million wind farm project

Suncor keeps 2020 oil budget flat, approves $300-million wind farm project
CALGARY — Oilsands giant Suncor Energy Inc. says it will keep capital spending related to its oil operations flat next year while moving forward with a new $300-million wind power project in southern Alberta. The Calgary-based company says its capital budget for 2020 will rise by about 10 per cent to a mid-point of $5.7 billion from this year’s $5.15 billion.... Read More

Canadian National Railway cuts profit guidance due to strike by Teamsters

Canadian National Railway cuts profit guidance due to strike by Teamsters
MONTREAL — Canadian National Railway Co. is cutting its profit guidance in the wake of an eight-day strike by 3,200 workers that brought the railway to a near halt. The railway says it is now targeting 2019 adjusted diluted earnings per share growth in the low to mid single-digit range compared with last year’s adjusted diluted earnings per share of $5.50.... Read More

Bank of Montreal trimming 5% of workforce, with cuts spread across business

Bank of Montreal trimming 5% of workforce, with cuts spread across business
TORONTO — The Bank of Montreal’s fourth-quarter profit fell to $1.19 billion as it was hit by a restructuring charge related primarily to severance that will affect about five per cent of the its global workforce, the bank announced Tuesday. The quarter ended Oct. 31 included a $357-million restructuring charge as a result of the bank’s decision to accelerate delivery of digitization initiatives and simplification... Read More

Endeavour Mining makes $2.5B bid for Centamin after failing to reach deal

Endeavour Mining makes $2.5B bid for Centamin after failing to reach deal
TORONTO — Endeavour Mining Corp. is offering to buy Centamin PLC in a stock-swap deal that values the gold miner at roughly $2.5 billion, based on stock values just prior to the announcement. Endeavour says it made the offer after several unsuccessful attempts to engage with the board of Centamin regarding a possible merger. Toronto-listed Endeavour, which has gold mines in Africa, is offering 0.0846 of... Read More