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Transat A.T. set to become a single share class company on Monday


Transat A.T. Inc., the Montreal-baser international tour operator, has announced plans to become a single share class company. As of Monday the company’s Class A shares variable voting shares (which trade under the symbol (TRZ.A) and its voting shares (TRZ.B) will trade under a single ticker TRZ on the Toronto …

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World awash with oil as record 3 billion barrels stockpiled — and it’s only getting worse, IEA says


The world is awash with oil having built record stockpiles of almost 3 billion barrels in recent months and slowing demand growth combined with resilient non-OPEC supply could worsen the glut well into next year, the International Energy Agency (IEA) said on Friday. How OPEC has earned itself a permanent …

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So much gold is being flushed down the drain in London, its sewers rival a working mine


Precious metals, primarily gold, worth 13-million pounds ($26.3 million) is being flushed away through sewers every year, it has been claimed. Analysis by Thames Water found that the level of gold in sewerage systems was comparable to that found in working mines. Hazel Prichard, a Cardiff University geologist, has been …

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Food sales lift the bottom lines of Loblaw Companies Ltd and Metro Inc


Metro Inc. and rival Loblaw Cos. Ltd. beat industry analysts’ projections for quarterly earnings Wednesday as the large grocery retailers benefited from stronger food sales, though the latter warned drug regulatory changes will weigh on its pharmacy business for the remainder of the year. Both retailers saw their shares rise …

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Target Corp oversold – J.P. Morgan


For the first time since chief executive Brian Cornell took over in August 2014, Target Corp. failed to beat earnings expectations and reported a year-over-year decline in gross margins. This has investors wondering whether the retail giant’s upward earnings revision cycle is running out of steam, and if its turnaround …

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How a former Lehman banker and his twin brother’s credit crisis experiences helped shape Mogo


Painful personal experiences at opposite sides of the credit crisis brought twin brothers Dave and Greg Feller together at Mogo Finance Technology Inc., one of a handful of online alternative lenders tapping those who can’t or don’t want to deal with a bank. Greg, Vancouver-based Mogo’s chief financial officer, was …

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Why 2015 will go down as a year to forget for North American coal miners


Plenty of coal industry insiders have spoken out about the collapse of the business in the United States. But nobody does it with quite the same fervor as Robert Murray. Canadian miner Lucara finds 1,111-carat diamond — believed to be second-largest ever The gigantic diamond, found in Botswana, is so …

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Sleep Country back with $185M secondary offering, within 180 days of going public


Less than five months back, the existing shareholders at the about-to-go public Sleep Country Holdings Canada, entered into a lock up agreement limiting their ability to sell shares for a period time in the future. As stated in the final prospectus, “the Company, the Existing Shareholders and each of the …

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Enbridge may be high water mark for bought deals that go awry


Most of the time a bought deal – a Canadian-invented system of raising capital for issuers – runs smoothly: a deal is announced, buyers rush in to participate and within a couple of weeks the company gets the net proceeds. Every so often a deal doesn’t work out: either the …

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‘Intensely competitive’ winter ahead for airlines serving sun destinations


It’s shaping up to be an “intensely competitive” winter for Canadian airlines and tour operators serving sun destinations, leading analysts at National Bank to lower their price targets for WestJet Airlines Ltd. and Transat AT Inc. The bank’s analysis of the sun destination leisure market found that total capacity from …

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