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Financial crisis

Twas the week before Christmas … a poetic year in review by the company whose motto is ‘Be boring. Make money’

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Calgary headquartered Mawer Investment Management, is known for many things: it was founded more than 40 years ago, it manages more than $30 billion of client assets, it is home to 40 employees, it now has offices in two other cities, Toronto and Singapore and is a regular winner of …

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Centerra Gold shares slide after Kyrgyzstan halts talks over Kumtor project

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BISHKEK/TORONTO — Kyrgyzstan’s government said on Tuesday it had stopped talks with Canada’s Centerra Gold on restructuring their joint Kumtor project because the current agreement “ran counter to the country’s national interests.” The decision, the latest twist in a drawn-out tussle over the mine’s fate, sent shares in Centerra sliding …

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Perpetual Energy Inc shares plunge as Alberta Securities Commission rules in favour of its rights offering

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CALGARY – Perpetual Energy Inc.’s share price plunged more than 20 per cent Thursday after securities regulators ruled in favour the company’s planned $25 million rights offering. Lawyers for Perpetual argued at an Alberta Securities Commission hearing Tuesday and Wednesday that an application to cease trade the offering would have …

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Long Run Exploration convert holders ask: Who is looking out for us? Where is our full value?

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Judging from the response to a recent column, Long Run Exploration, which this week agreed to a takeover offer from an unnamed Chinese investor, is in trouble with holders of its convertible debentures. In that takeover, which comes with a $770 million value, the debenture holders are being offered $750 …

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Paying down debt remains top priority, but many Canadians making little headway, poll finds

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TORONTO — Paying down debt remains the top financial priority of Canadians, but it’s a goal many appear to be having difficulty meeting, according to a new poll conducted for CIBC (TSX:CM). The poll found that 26 per cent of respondents named debt reduction as their key financial goal for …

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China Investment Corp retreats from Canada after mining, energy investments sour

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After a string of bad investments, China Investment Corp. (CIC) has shut down its Toronto office and is opening a new one in New York, part of a quiet retreat from Canadian natural resources by China’s state-controlled entities. Fortune Lost: The short, brutal and costly ride of China Investment Corp. …

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World’s worst carry trade found in Brazil as 2016 outlook dims

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Investors who bet on Brazil’s local bonds this year were saddled with the biggest losses among major economies. The outlook for 2016 isn’t much better. Borrowing dollars at the end of 2014 and buying reais, a practice known as the carry trade, left investors with losses of 22 per cent …

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

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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 …

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

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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 …

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

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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 …

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