Canada

Nokia Siemens Networks says it will hang onto about 800 Canadian employees of Nortel Networks Corp. as part of the plan to buy a major portion of the former technology giant's wireless business, The Canadian Press reported. Simon Beresford-Wylie, ch ...

Daily Headline - global.abi.org - 06/23/2009 - 08:53 - 0 comments

Nortel Networks, once a technology giant, has decided to sell itself off in pieces rather than attempt to emerge from bankruptcy as a restructured company, the Associated Press reported. Nokia Siemens Networks agreed to buy some wireless operations of Ca ...

Daily Headline - global.abi.org - 06/22/2009 - 09:08 - 0 comments

The federal government could have prevented the liquidation of Nortel Networks Corp. with a massive bailout, but instead Ottawa has decided that the best way to salvage something from the biggest corporate bust in Canadian history is to help fund a fore ...

Daily Headline - global.abi.org - 06/22/2009 - 09:05 - 0 comments

Fraser Papers Inc. and its subsidiaries have initiated a court-supervised restructuring under Canada’s Companies' Creditors Arrangement Act and will seek similar relief pursuant to Chapter 15 of the U.S. Bankruptcy Code, Dow Jones Newswires reported ...

Daily Headline - global.abi.org - 06/19/2009 - 07:56 - 0 comments

Nortel Networks Corp. sought financial aid from the Canadian government to avoid filing for bankruptcy protection but was refused, Nortel President and Chief Executive Mike Zafirovski told a parliamentary committee Thursday. The telecommunications-equipm ...

Daily Headline - global.abi.org - 06/19/2009 - 07:53 - 0 comments

Air Canada has bought itself some breathing room after hammering out tentative agreements on pension funding with its employees, but observers say it still may not be enough to keep the country's largest airline out of bankruptcy protection, the T ...

Daily Headline - global.abi.org - 06/17/2009 - 10:08 - 0 comments

The Canadian Press reports that Canwest Global Communications newspapers' unions were asked discuss concessions as the company faces restructuring to cope with debt of C$3.9 billion. In a copy of a provided to the Canadian Press by the company, Canw ...

Daily Headline - global.abi.org - 06/17/2009 - 10:05 - 0 comments

The Grand Caravans, 300s and Chargers could be rolling off the assembly lines at Chrysler Canada plants within three weeks as the company's parent pulls away from bankruptcy protection with a new partner following a two-month shutdown, the Toronto ...

Daily Headline - global.abi.org - 06/12/2009 - 08:06 - 0 comments

Air Canada's five unions could acquire a 10-per-cent stake in the airline as management tries to repair its strained labour relations, avoid a strike and preserve cash to survive the recession, The Globe and Mail reported. Under a tentative deal ...

Daily Headline - global.abi.org - 06/11/2009 - 08:47 - 0 comments

The Toronto Stock Exchange (TSX) has requested that EarthFirst Canada Inc., a leading developer of renewable wind energy, voluntarily suspend trading of its common shares and common share warrants on the TSX, Energy Current reported on a company pres ...

Daily Headline - global.abi.org - 06/08/2009 - 08:56 - 0 comments