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Author Archives: admin

Four Amaya employees may join CEO David Baazov in bid to take PokerStars owner private

MONTREAL – Who owns PokerStars and other online gambling sites says several of its employees might be joining an attempt to take the company private. Amaya Inc. says it’s been notified that it is executive vice-president for corporate development, along with three other employees, may be participating in the potential ...

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Upstart stock exchange Aequitas NEO snags first listing: a new PowerShares ETF

Upstart exchange Aequitas NEO has secured its first listing. It’s a milestone to be certain, only one that illustrates the task of dealing with the dominant Toronto Stock market. The listing, to go live between March when the application receives regulatory approval, is a new PowerShares exchange-traded fund (ETF) to ...

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This market is more 2011 than 2008, say analysts, complete with ‘quite severe’ rolling bear market

Financial markets have been flashing lots of warning signs in the past month which have spooked investors and resulted in a flight from risk for much of this year, drawing parallels to the economic crisis of 2008. Like that year, banks are the big focus, with investors now selling off ...

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First-time buyers driving Toronto’s hot housing market

TORONTO ? The Toronto Property Board doesn’t expect a tightening of federal mortgage rules will put much of a dent in sales figures for the country’s largest housing industry. Uncanny tales of Buys, Booms and Busts: A Canadian oral good reputation for housing-market anxieties familiar and peculiar The Financial Post ...

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Bill Ackman says he made ‘very costly’ mistakes in 2015 that led to the deepest loss in Pershing Square’s history

BOSTON – Located on a double-digit loss that’s the deepest in his firm’s history, billionaire investor Bill Ackman told investors that he made mistakes this past year in not cutting two big positions but said he sees plenty of new investment opportunities. Ackman, whose Pershing Square Capital Management lost between ...

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Financings bridge the gaps in Shaw Communications Inc’s rebirth

For years, it looked like Shaw Communications Inc. wouldn’t be a wireless carrier. In 2011, it ceased construction of its cellular network, wrote down $111 million of assets and sold the option to its spectrum licences in 2013. But privately it was itching to get involved with mobile, assessing the possible ways it could do ...

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Real estate equity funds on top when looking at 15-year returns

The past decade . 5 seem to have been quite unkind to most Canadian equity fund investors, as well as worse to those invested elsewhere. Actually, performance figures for the 15-year period through December 2015 show fixed-income funds fared almost as well and in many cases much better than their ...

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Penn West Petroleum Ltd’s 2016 capital budget down 90% from last year, production to fall

CALGARY – Penn West Petroleum Ltd. is cutting its capital budget for 2016 to simply one-tenth of what it spent last year as the conventional oil and gas producer lowers its average daily output, shuts in wells and activly works to reduce expenses. The Calgary-based company says its 2016 budget ...

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The behemoth, the biotech and the break fee: How a small Canadian firm ended up in a legal battle with Valeant Pharmaceuticals International Inc

On Dec. 16, as a dozen approximately top bosses at Valeant Pharmaceuticals International Inc. were with an investor call touting a company model that’s been under siege, lawyers for the Laval, Que., company were in the courthouse in Rochester, N.Y., defending it. Documents detail Turing, Valeant strategy to buy life-saving drugs, then ...

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Strong first quarter puts CGI Group Inc on track to return to organic revenue growth

MONTREAL – CGI Group Inc. is on its way to going back to organic growth after beginning the year with revenues that exceeded analyst expectations. But, because the company accountable for the error-riddled Obamacare website knows well, a good start could be interrupted, and there’s uncertainty ahead that could keep the ...

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