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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

Lightstream Survives 'Painful' Restructuring With $1.3 Billion Deal

After struggling to pay its debts while oil prices tumbled, Calgary’s Lightstream Resources Ltd. emerged from a “painful” restructuring with a $1.35-billion deal that will clear the way for new production in 2017, the company says, The Calgary Herald ...

Daily Headline - global.abi.org - 11/25/2016 - 01:03 - 0 comments

Canada’s Housing Agency Warns of Rising Household Debt

Elevated house prices and record-high debt levels are contributing to worries about Canada’s future economic growth, the head of the country’s national housing agency says, The Wall Street Journal reported. Speaking at the Bank of England on Friday, ...

Daily Headline - global.abi.org - 11/20/2016 - 19:22 - 0 comments

Stress Test Indicates Canada Housing Prices Could Drop Precipitously

to rise about 9.0% between 2017 and 2021, it said several extreme situations could result in price ...

Daily Headline - global.abi.org - 11/17/2016 - 21:40 - 0 comments

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