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'We've Got to Fight': Wabush Mine Pensioners Hope Courts Will Restore Benefits

Three years after the shutdown of Wabush Mines by Cliffs Natural Resources, former workers and retirees are looking to a Quebec court to help them recover some of what they lost, CBC News reported. "We're all in this together now," said Ri ...

Daily Headline - global.abi.org - 02/23/2017 - 21:51 - 0 comments

Cameco ‘Surprised’ After Tepco Cancels $1.3-Billion Uranium-Supply Contract

The CEO of Cameco Corp. says the decision by a Japanese utility to terminate a uranium-supply contract worth about $1.3-billion in revenue from now through 2028 came “out of the blue.” Tim Gitzel said Tokyo Electric Power Co. sent a notice on Jan. 24 say ...

Daily Headline - global.abi.org - 02/01/2017 - 22:17 - 0 comments

Nortel Networks Wins Approval to Distribute $7.3 Billion to Creditors

Nortel Networks Corp. won approval to start distributing $7.3 billion to creditors, a major step in the long-running demise of the telecommunications company, The Wall Street Journal reported. Judges in Canada and the U.S. on Tuesday cleared Nortel t ...

Daily Headline - global.abi.org - 01/24/2017 - 21:44 - 0 comments

Postmedia Posts Profit, Boosted By Debt Restructuring Deal

Postmedia Networks Corp. reported a profit in its latest quarter, boosted by a debt restructuring negotiated by the struggling media company and its major creditors, however revenue fell nearly 15 per cent, The Globe and Mail reported. The Toronto-ba ...

Daily Headline - global.abi.org - 01/12/2017 - 23:10 - 0 comments

Canadian Apparel Maker Gildan Wins Auction To Buy American Apparel

Canadian apparel maker Gildan Activewear Inc said it had won a bankruptcy auction to buy U.S. fashion retailer American Apparel for about $88 million in cash. The deal is subject to approval from a bankruptcy court on Thursday, the company said. Under th ...

Daily Headline - global.abi.org - 01/10/2017 - 23:26 - 0 comments

Ottawa Projects Decades Of Deficits As Federal Finances Worsen

The federal government is projecting decades of deficits as a new Finance Canada report shows Ottawa’s long-term finances have deteriorated considerably over the past two years, The Globe and Mail reported. The government’s latest long-term fiscal fo ...

Daily Headline - global.abi.org - 01/05/2017 - 21:13 - 0 comments

Canadian FIs — Start Collecting Non-Resident Account Details

Canadian financial institutions will soon have to collect information on financial accounts held by tax residents of jurisdictions outside of Canada and the United States and provide these details to the CRA. This requirement is part of an international ...

Resource Article - twallace@abiwor... - 12/29/2016 - 13:48 - 0 comments - 0 attachments

Canadians Walking A Tightrope As Debt Climbs Alongside Worth

Canadians are walking a tightrope between bulking up on their savings but also on their debts, The Globe and Mail reported. The key measure of consumer debt burden touched a new high in the third quarter. The ratio of debt to disposable income rose t ...

Daily Headline - global.abi.org - 12/14/2016 - 22:42 - 0 comments

Ontario Steelmaker Stelco Seeks Court OK For Moving Ahead With Restructuring

Southern Ontario steelmaker Stelco is seeking court approval to move forward with its restructuring following an agreement with Bedrock Industries, CTV News reported on a Canadian Press story. Ontario Finance Minister Charles Sousa said in a statement Fr ...

Daily Headline - global.abi.org - 12/11/2016 - 22:18 - 0 comments

Nortel Takes Another Step Toward Wrapping Up Bankruptcy Case

Judges in Canada and the U.S. on Thursday approved materials explaining Nortel Networks Corp.’s creditor-repayment plan, inaugurating the beginning of the end of one of the priciest bankruptcies on record, The Wall Street Journal reported. Thursday’s ...

Daily Headline - global.abi.org - 12/01/2016 - 22:25 - 0 comments

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