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Yearly Archives: 2016

Parkland Fuel Corp settles its fight with the Competition Bureau

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To settle a fight with the Competition Bureau of Canada, Parkland Fuel Corp. will have to sell off assets in Ontario and Manitoba. Parkland, a Red Deer, Alta.-based gasoline retailer, announced after markets closed Tuesday it had reached funds using the Bureau, requiring the company to sell a fill-up station in Kapuskasing, Ont. and either divest or terminate fuel supply ...

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Barrick Gold Corp to face U.S. class-action lawsuit over Pascua-Lama mine project

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A federal judge on Wednesday granted class certification for a U.S. class-action lawsuit filed against Barrick Gold Corp claiming Barrick misstated facts of their now halted Pascua-Lama gold-mine project on the border of Argentina and Chile. The class certification means the world’s largest gold producer will have to face the U.S. lawsuit. U.S. District Judge Shira Scheindlin in Manhattan said ...

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Once reviled, gold hedging makes an unexpected return

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New Gold Inc. was braced for a vicious backlash in the investment community when it decided to hedge some gold production earlier this year. After all, hedging is the gold industry’s ultimate dirty word. It became this type of toxic subject over the past decade that many chief executives decided that even talking about it had been off limits. And ...

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Air Canada granted labour flexibility under new legislation that was promised after CSeries purchase

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The authorities is granting Air Canada more flexibility over its maintenance work, proposing changes to the three-decades-old laws that govern the airline after it agreed to purchase Bombardier Inc.’s CSeries jets. The proposed amendments towards the 1988 Air Canada Public Participation Act, introduced Thursday by Transport Minister Marc Garneau, fulfill a promise made recently once the airline announced its intend ...

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If the GDP misses forecasts, don’t blame the economists, new study says, blame Ottawa

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OTTAWA – If you had to create a bet how Canada’s economy was going to fare later on, you’d be better off putting your money on private-sector economists’ predictions than the forecasts from the authorities. It seems non-governmental forecasts for nominal growth going back a lot more than 20 years – and used as a guide for Ottawa’s budget planning – have ...

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Madalena Energy seeks new leader to drive its interests in Argentina

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There might not be an association just a few weeks after Madalena Energy announced a “strategic” acquisition along with a $27 million equity financing C two transactions that were cancelled  – the organization has a new interim chief executive. On Thursday the company, which earlier this month announced instructions of intent to get one more 10 percentage point stake within ...

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The not-so-pleasant choices faced by RONA’s preferred shareholders

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Shareholders of RONA gather in Montreal Thursday to vote on the $3.2 billion takeover by Lowe’s. For common shareholders, the problem seems a no-brainer. There isn’t any real alternative to tendering to the $24 a share offer, a cost that represents a proper premium to the shares’ recent trading price. And the prices are almost $10 higher than the sale ...

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U.S. FTC sues Volkswagen for falsely advertising its diesel vehicles were environmentally friendly

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WASHINGTON – The U.S. Federal Trade Commission sued against Volkswagen AG for falsely advertising that thousands and thousands of its diesel vehicles were eco-friendly, when the German automaker knew these were actually emitting excess pollution. The FTC filed suit in U.S. District Court in San Francisco, stating that U.S. consumers suffered “billions of dollars in injury” because of VW’s deception. ...

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