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Home Capital Group Inc. leader Gerald Soloway is stepping down after almost 3 decades at the helm from the mortgage lender. He will hand the reins to company president Martin K. Reid in the company’s annual meeting on May 11. Soloway will remain a director of Home Capital and subsidiaries Home Trust and CFF Bank. “The Board want to thank ...

CALGARY – Nexen, the Calgary-based company acquired by China’s CNOOC Ltd. more than 3 years ago, says it’s cut 120 jobs in Canada. Company spokeswoman Brittney Price said the company made the difficult decision to reduce its workforce due to the current economy. Last March, Nexen cut 340 staff in The united states and 60 at its U.K. North Sea ...

Canadian pork processor Maple Leaf Foods Inc posted a better-than-expected fourth-quarter profit as margins in the prepared meats business improved. Adjusted operating profit in the meat products group, which includes brands for example Schneiders and the company’s namesake Maple Leaf brand, was $54.6 million, in contrast to a year-ago loss of $19.A million. The Mississauga, Canada-based company said margins at ...

Canadian regulators don’t tinker frequently with the technical basics of the country’s takeover regime. But new rules to limit using poison pills will disrupt the strategies and tactics we’ve become used to in Canadian takeover battles. Big change is a afoot, lawyers say. “The takeover amendments are expected to profoundly change the way takeover bids are conducted, and also the ...

CALGARY – Enbridge Inc. says it raised $2.3 billion in the latest stock offering since it’s syndicate of underwriters fully exercised their option to buy additional shares within the pipeline operator. The Calgary-based company had initially planned to raise $2 billion, but the underwriters – including Canada’s five biggest banks – bought one more 7.4 million shares. The underwriters paid ...

A former adviser at RBC Dominion Securities Inc. and Scotia Capital Inc. is purported to have “impersonated his clients” in a firm he soon started after settling disciplinary actions regarding the his work at  the 2 major banks. The Ontario Securities Commission says Mark Steven Rotstein and the new firm Equilibrium Partners Inc. (EQ) obtained personal and company information from clients, ...

Rocky stock markets and cratering oil prices shook up Forbes’ listing of the world’s wealthiest this year, using the first decline in billionaires since 2009. The 30th annual guide found 1,810 billionaires, by having an aggregate value of $6.48 trillion, $570 billion under this past year. All together 221 people fell off the list, while 198 newcomers joined the ranks. ...

Bank of Quebec was upgraded and Royal Bank of Canada was hit having a downgrade, following a latest round of earnings in the Canadian banking sector. Mario Mendonca at TD Securities raised his rating on Scotiabank to buy from hold after its first quarter earnings arrived slightly above expectations. The analyst noted that the bank reported higher energy-related credit losses, ...