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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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Brookfield Asset Management Inc files for US$525M spinoff of private equity arm

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Brookfield Asset Management Inc., Canada’s biggest alternative asset manager, plans to pay a special dividend of about US$525 million from the spin out of its private equity arm, according to a regulatory filing, more than originally planned. Toronto-based Brookfield intends to issue 21 million limited partnership units in  Brookfield Business Partners …

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Canada’s incumbent airlines have little to fear from new startup NewLeaf Travel

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Canada’s incumbent airlines have little to fear from a new, ultra-cheap competitor that will begin flying next month, according to an analysis by National Bank. NewLeaf Travel Company Inc. on Wednesday opened its website for bookings, with its first flight planned for February 12. To keep prices low, the airline’s …

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Oil plunge spurs bold call that Bank of Canada will cut rates next week

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Oil’s plunge to below $31 Monday has spurred a bold call from one financial giant that the Bank of Canada will cut rates on Jan. 20. Things are falling apart, said Bank of America Merrill Lynch in a note to investors Monday. “Recent data suggest that economic weakness is spreading …

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