Results for Canada
- National Bank Of Canada Cuts 600 Jobs In Restructuring
National Bank of Canada said on Thursday it will cut 600 jobs as part of a restructuring and take a charge of C$175 million ($131 million) in the fourth quarter. Canada's sixth biggest lender said the charge included severance payments to employees ...
Daily Headline - global.abi.org - 10/27/2016 - 21:07 - 0 comments
- Nortel Settles Fight To Divvy Up $7.3 Billion From Liquidation
Former telecommunications equipment giant Nortel Networks Ltd reached an agreement on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, clearing the way for pensioners and bondholders to get paid after a seven-year wait, ...
Daily Headline - global.abi.org - 10/12/2016 - 21:05 - 0 comments
- Canada Takes New Measures to Cool Housing Markets
Canada took a series of steps aimed at cooling housing markets in the country’s biggest cities, including addressing concerns about foreign investors’ influence in driving up home prices to frothy levels, The Wall Street Journal reported. The moves f ...
Daily Headline - global.abi.org - 10/03/2016 - 19:03 - 0 comments
- GM Canada Vows to Wipe Out Pension Shortfall; Workers Ratify Deal
General Motors of Canada Co. has pledged to eliminate the $2.6-billion deficit in the pension plans for its unionized workers and retirees as part of a new contract negotiated between the company and Unifor, The Globe and Mail reported yesterday. The ...
Daily Headline - abi_admin - 09/27/2016 - 13:29 - 0 comments
- What We Know And What We Don't About The Possible U.S. Steel Canada Deal
After more than two years in court-supervised bankruptcy protection, private equity investment firm called Bedrock Industries Group —a fund that buys distressed companies and restructures them —moved into prime position to buy U.S. Steel Canada, CBC.ca r ...
Daily Headline - global.abi.org - 09/22/2016 - 23:12 - 0 comments
- Foreign Buying Plummets in Vancouver After New Property Tax
Foreign investors dropped out of Vancouver’s property market last month after the provincial government imposed a 15 percent surcharge to stem a surge in home prices, Bloomberg News reported. Overseas buyers accounted for less than 1 percent of the C$6.5 ...
Daily Headline - global.abi.org - 09/22/2016 - 23:13 - 0 comments
- Tervita’s Debt Woes Reach Tipping Point With $2-Billion Restructuring
Lost in last week’s news of more Canadian megamergers, Calgary’s Tervita Corp. unveiled a major restructuring that capped off the company’s near decade-long march toward a broken balance sheet, The Globe and Mail reported. As part of the complicated ...
Daily Headline - global.abi.org - 09/19/2016 - 20:46 - 0 comments
- Tervita in Restructuring Deal to Cut Debt by $1.5 Billion
Tervita Corp., the Canadian oilfield services company focused on waste management, is planning a debt-for-equity swap to reduce its total leverage by about C$2 billion ($1.5 billion), Bloomberg News reported. Holders of 63 percent of its senior unsecured ...
Daily Headline - global.abi.org - 09/14/2016 - 23:19 - 0 comments
- Lightstream Boosted Bonuses As Share Price Slid To Pennies
Lightstream Resources increased 2015 cash bonuses for three executives months before the Canadian oil producer proposed a debt-for-equity swap to stay afloat as its stock was down to pennies, the Chicago Tribune reported. Chief Financial Officer Pete ...
Daily Headline - global.abi.org - 09/13/2016 - 21:47 - 0 comments
- Canada's Postmedia Wins Investor Approval For Restructuring
Debt and equity investors in Canada's largest newspaper publisher have approved a restructuring plan that will give creditors nearly all of its equity and slash its debt obligations, Postmedia Network Canada Corp said on Wednesday. Postmedia, which ...
Daily Headline - global.abi.org - 09/07/2016 - 21:49 - 0 comments