Home / colbyfinancial

colbyfinancial

Volkswagen faces billions in penalties as U.S. sues for environment violations

0104volkswagen.jpg

WASHINGTON — The U.S. Justice Department on Monday filed a civil lawsuit against Volkswagen AG  for allegedly violating the Clean Air Act by installing illegal devices to impair emission control systems in nearly 600,000 vehicles. The allegations against Volkswagen, along with its Audi and Porsche units, carry penalties that could …

Read More »

Brace for another year of slow growth and loonie below 70 cents, Canada’s top forecasters warn

economists.jpg

TORONTO — Canada is headed for a rocky year as low oil prices continue to drag on economic performance, the chief economists of some of Canada’s biggest banks said Tuesday. Bank of Montreal chief economist Douglas Porter told a morning gathering of leading economists that it’s going to be a …

Read More »

Weak loonie and U.S. ‘revival’ bump up Canadian exports, trim trade deficit

autoparts.jpg

OTTAWA — Canada’s exports grew for the first time in four months in November, cutting the trade deficit in a sign the country’s weak currency is helping manufacturers even as the price of oil slides. Statistics Canada said on Wednesday the deficit narrowed to $1.99 billion from C2.49 billion in …

Read More »

General Motors Co. invests $500 million in Lyft Inc, signalling new era of partnership between auto makers, Silicon Valley

lyft.jpg

General Motors Co. is investing US$500 million in ride-sharing company Lyft Inc. to create a network of on-demand, self-driving cars — another signal that traditional auto makers aren’t prepared to sit idly by while Silicon Valley eats their lunch. The move comes at a time of major flux in the …

Read More »

5 policy risks to watch in China after a year of living dangerously

china-risk.jpg

Economic policy missteps loomed large over China’s economy this year, ranging from a controversial stock market bailout, to a yuan devaluation that roiled global markets to a financing crunch for local governments triggered by fiscal reforms that had to be eased. Next year may be no different. “Policy continues to …

Read More »

Why Delta’s great deal on a Boeing 777 may not point to a ‘huge bubble’ in aircraft

0104boeing.jpg

The CEO of Delta Air Lines Inc. made waves in the aviation industry shortly before Christmas when he said he had signed a letter of intent to buy a used Boeing 777 for just US$7.7 million — a 97 per cent discount from the list price of a new one. …

Read More »

Where did the potential buyers of Canadian Oil Sands disappear to?

cos-suncor.jpg

Unless something dramatic happens between now and Friday, Suncor’s planned, albeit hostile, acquisition of Canadian Oil Sands is expected to play out as anticipated. While shareholders may not like the all-paper offer, they will support the transaction because the alternative of owning an independent company that trades lower – is …

Read More »

WestJet Airlines Ltd faces challenging 2016 thanks to high exposure to weak Alberta

0104westjet.jpg

The bloom came off the rose for Canadian airline stocks in 2015 despite plunging fuel costs, and 2016 could prove to be even more challenging as capacity additions continue to eclipse economic growth. The quotable Gregg Saretsky: WestJet CEO on Air Canada competition, unionization and more On Air Canada’s decision …

Read More »

Pension solvency dipped slightly in 2015, Mercer report shows

money1.jpg

The poor equity market performance, the continued decline in long-term bond yields and new mortality tables that reflect increased life expectancy, have all combined to cause a slight decline in the funded status of the country’s pension plans in 2015. The only good news: the funded status of the 611 …

Read More »

The stage seems set for regulators to get out of ruling on shareholder rights plans

0106suncor.jpg

This Friday, Jan. 8, the day that Suncor’s hostile $4.3-billion all-stock offer for Canadian Oil Sands is set to expire, may end up being a milestone. If Suncor succeeds in getting support from holders of two thirds of COS shares – one of its conditions — that takeover may be …

Read More »