Author: CanadianInvestor

Quebecor’s TVA to buy Incendo as part of expansion into English-language markets

CanadianInvestor
Quebecor’s TVA to buy Incendo as part of expansion into English-language markets
MONTREAL — Quebecor’s TVA Group has an agreement to buy the Incendo group, a Montreal-based producer and distributor of television programs for international markets, for about $19.5 million. Incendo’s productions have recently received nominations for the 2019 Canadian Screen Awards, including “Second Opinion” — a medical thriller nominated for best limited series or program. Its “Twisted” was also nominated for best TV movie at last... Read More

QuadrigaCX case: Canada’s big banks wary of cryptocurrency assets

CanadianInvestor
QuadrigaCX case: Canada’s big banks wary of cryptocurrency assets
HALIFAX — The wary skepticism that Canada’s big banks have for the cryptocurrency industry was on full display Friday when a Nova Scotia judge issued an order for the eventual disbursement of more than $30 million in bank drafts tied to the QuadrigaCX insolvency case. Lawyers for the Bank of Montreal and the court-appointed monitor overseeing the case, Ernst and Young, said the banks are uncomfortable handling... Read More

Budget carrier Flair Airlines calls abrupt halt to new routes to Florida

CanadianInvestor
Budget carrier Flair Airlines calls abrupt halt to new routes to Florida
KELOWNA, B.C. — Flair Airlines has suspended several flight routes to Florida and California just months after expanding service to U.S. destinations. Citing “disappointing load factors,” the ultra-low-cost carrier based in Kelowna, B.C., called an abrupt halt to service from Edmonton, Winnipeg and Toronto to destinations including Miami, Tampa Bay and Palm Springs. The suspensions are effective this Thursday and come barely... Read More

Energy and materials boost Toronto market, U.S. stocks push higher

CanadianInvestor
Energy and materials boost Toronto market, U.S. stocks push higher
TORONTO — Gains in the energy and materials sectors helped boost Canada’s main stock index in late-morning trading, while U.S. stock markets also pushed higher. The S&P/TSX composite index was up 62.19 points at 16,063.05. In New York, the Dow Jones industrial average was up 169.03 points at 26,019.66. The S&P 500 index was up 14.81 points at 2,789.69, while the... Read More

Barrick Gold reviewed possible merger with Newmont, no decision made

CanadianInvestor
Barrick Gold reviewed possible merger with Newmont, no decision made
TORONTO — Barrick Gold Corp. confirms it has “reviewed the opportunity” to merge with rival Newmont Mining Corp., but says no decision has been taken. The Toronto-based gold miner says it has considered an all-share transaction with Colorado-based Newmont — a move that would combine two of the world’s largest gold producers. Newmont could not immediately be reached for comment. Reports... Read More

Auto parts company Magna International reports $456M Q4 profit, ups dividend

CanadianInvestor
Auto parts company Magna International reports $456M Q4 profit, ups dividend
AURORA, Ont. — Magna International Inc. raised its dividend as it reported its fourth-quarter profit fell from the same period a year earlier. The Ontario-based auto parts maker, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 36.5 cents per share, up from 33 cents per share. The increased payment to shareholders came as... Read More

Home Capital Group reports Q4 profit up, mortgage originations climb

CanadianInvestor
Home Capital Group reports Q4 profit up, mortgage originations climb
TORONTO — Home Capital Group Inc. says its fourth-quarter profit rose compared with a year ago as its mortgage originations climbed 85 per cent. The alternative mortgage lender says it earned $35.8 million or 46 cents per share for the quarter ended Dec. 31 compared with a profit of $30.6 million or 38 cents per share in the same quarter... Read More

Royal Bank hikes dividend as it reports $3.2B net income in first quarter

CanadianInvestor
Royal Bank hikes dividend as it reports $3.2B net income in first quarter
TORONTO — Royal Bank of Canada raised its dividend as it reported quarterly net income of $3.17 billion, up from $3.01 billion a year ago, matching street expectations as market volatility during the period weighed on its earnings. The Toronto-based lender hiked its quarterly payment to common shareholders by four cents to $1.02 per share. The bank’s dividend increase Friday came as... Read More

SNC-Lavalin Group slashes dividend 65%, reports $1.6B fourth-quarter loss

CanadianInvestor
SNC-Lavalin Group slashes dividend 65%, reports $1.6B fourth-quarter loss
MONTREAL — SNC-Lavalin Group Inc. slashed its dividend by 65 per cent Friday as it reported a fourth-quarter loss of $1.6 billion. The troubled engineering and construction company says it will now pay a quarterly dividend of 10 cents per share compared with its earlier payment of 28.7 cents per share. SNC has been at the centre of a political scandal in Ottawa over... Read More

Saputo buying United Kingdom-based Dairy Crest Group for roughly $1.7 billion

CanadianInvestor
Saputo buying United Kingdom-based Dairy Crest Group for roughly $1.7 billion
MONTREAL — Saputo Inc. has signed a friendly deal to buy United Kingdom-based company Dairy Crest Group plc in an agreement valued at about $1.7 billion. Under the deal, Saputo will pay 6.20 pounds per share for the company. Dairy Crest manufactures and sells cheese, butters, spreads and oils under British brands such as Cathedral City, Clover, Country Life and... Read More