Trading on TSX, other TMX exchanges halted due to technical issues

Trading on TSX, other TMX exchanges halted due to technical issues
TORONTO — Several indexes owned by TMX Group Ltd. have been halted due to a technical issue. The company said Thursday afternoon via its Twitter account that a technical halt was declared on the TSX, TSXV and TSX Alpha exchanges. TMX’s derivatives-focused Montreal Exchange is also halted. “TMX continues to investigate the problem with order entry on TSX, TSXV and Alpha,” said... Read More

Judge undoes $2 sale of Drabinsky home as effort to thwart creditors

Judge undoes $2 sale of Drabinsky home as effort to thwart creditors
TORONTO — A deeply indebted former theatre mogul transferred ownership of the family home to his wife to put the multimillion-dollar property out of reach of his creditors, an Ontario judge has ruled. In ruling against Garth Drabinsky and Ann Elizabeth Winford-Drabinsky, the court found the transaction bore many “badges of fraud” and couldn’t stand. “The transaction is replete with the badges... Read More

Saskatchewan and Manitoba face huge debt under current policies: report

Saskatchewan and Manitoba face huge debt under current policies: report
OTTAWA — Parliament’s budget watchdog says Saskatchewan and Manitoba face huge increases in their debt loads unless the provinces change their fiscal policies or Ottawa increases transfer payments. Parliamentary budget officer Yves Giroux says Manitoba and Saskatchewan would each need to cut more than $2 billion from annual spending or increase taxes to keep their debt-to-GDP levels sustainable. One alternative, he says, is higher annual increases... Read More

National Bank reports Q1 profit up from year ago, beats expectations

National Bank reports Q1 profit up from year ago, beats expectations
MONTREAL — National Bank of Canada topped expectations as it reported a profit of $610 million in its latest quarter, up from $552 million in the same quarter a year earlier, boosted by growth across its operations. The Montreal-based bank says its profit amounted to $1.67 per diluted share for the quarter ended Jan. 31, up from $1.50 per diluted... Read More

WSP Global CEO says coronavirus a minor concern as M&A remains top of mind

WSP Global CEO says coronavirus a minor concern as M&A remains top of mind
MONTREAL — The CEO of WSP Global Inc. says the engineering company is not immune to fallout from the novel coronavirus epidemic. The Montreal-based company has asked employees in China, where the outbreak originated, to work from home and expects a slowdown in WSP productivity in the region. Alexandre L’Heureux said he doesn’t expect the virus to alter its profit forecast for the... Read More

Openness in relationships extends to your finances, experts say

Openness in relationships extends to your finances, experts say
John Shmuel knows firsthand what financial openness — and secrecy — can do. By the third date, his fiancee knew his income and savings. A year later they’d agreed to focus on saving for a condo before getting married. “We were quite transparent from the start,” said Shmuel, a 33-year-old Toronto-based content strategy director who cites financial honesty as an essential ingredient in the... Read More

Stocks open sharply lower; Dow 10% below recent record high

Stocks open sharply lower; Dow 10% below recent record high
NEW YORK — Stocks fell sharply in early trading Thursday, extending a weeklong rout and bringing the Dow Jones Industrial Average 10% below the record high it hit just two weeks ago. Microsoft and Budweiser maker InBev became the latest large companies to warn investors about the virus’ potential hit to its finances. Meanwhile nations are taking increasingly drastic measures... Read More

HBC chair Richard Baker wins shareholder approval to take retailer private

HBC chair Richard Baker wins shareholder approval to take retailer private
TORONTO — Hudson’s Bay Co. executive chairman Richard Baker has won shareholder approval to take the retailer private. About 98 per cent of the Toronto-based department store owner’s shareholders approved the go-private move and about 94 per cent of minority shareholders supported it. The vote comes after a shareholder group headed by Baker increased its going-private offer to $11 per share, winning... Read More