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RBC loses bid to overturn US$76 million judgment over sale of ambulance company Rural/Metro

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The Delaware Supreme Court upheld on Monday a ruling that RBC Capital Markets is liable for US$76 million for its role in the 2011 sale of ambulance company Rural/Metro, which was found to have shortchanged investors. The case has been closely watched on Wall Street because the 2014 ruling by …

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How the oilpatch is learning to live within its means as it braces for shrinking cash flow

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CALGARY – With the oil price rout showing no signs of letting up thanks largely to OPEC’s decision Friday to keep pumping, pressure is building on Canadian oil and gas companies to spend within their shrinking cash flow projections for 2016. Secret deal on carbon emissions has driven a rift …

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Children can now talk to their toys — and marketers, hackers are trying to listen in

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Your daughter rips open the wrapping paper and screams with excitement – it’s Talk To Me Tammy! After connecting the doll to your home’s wireless network through a smartphone app, she and Tammy start chatting. Tammy tells her jokes, quizzes her on some math questions and says her favourite colour …

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Norfolk Southern Railway snubs Canadian Pacific’s $28-billion offer as ‘grossly inadequate’

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Norfolk Southern Corp. has rejected Canadian Pacific Railway Ltd.’s US$28.4-billion takeover proposal, calling it “grossly inadequate” and emphasizing that it’s unlikely to receive regulatory approval at any price. But CP chief executive Hunter Harrison is not one to give up easily, and analysts said he’s now likely to sidestep the …

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British Columbia gets access to China’s Panda bond program

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British Columbia, which has been building financial ties with China for many years and in the process establishing a series of Canadian firsts, is set to make another innovation with investors from the world’s largest country. This week the AAA-rated province received approval from the Peoples’ Bank of China to …

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Appeal of Joe Groia’s ‘incivility’ ruling goes to Ontario Court of Appeal on Dec. 14

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Joe Groia of Groia and Co., the Toronto lawyer found guilty of “incivility” charges by the Law Society of Upper Canada, will seek to have his one-month suspension overturned at a three-day hearing commencing Dec. 14 in the Ontario Court of Appeal. The charges centre on Groia’s accusations of prosecutorial …

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From Arizona to Florida, U.S. destinations feeling chill from low loonie, weakened Canadian economy

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The American sunbelt is expected to feel a chill this winter from Canada’s weakened economy and a loonie that’s lost more than a quarter of its value in the past couple of years. Overnight cross-border travel was down about nine per cent in the first nine months of the year …

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Loonie on track for second-biggest decline ever as pressures pile up

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The Canadian dollar is on track to experience its second-biggest decline on record against the U.S. dollar, and analysts forecast the currency could go lower before it bounces back next year. The loonie is now down nearly 17 per cent against the greenback for 2015, the biggest drop since 2008, …

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Suncor and CP Rail’s takeover bids get exotic

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It’s a rare week in Canada when two terms — contingent value rights, or CVR, and warrants – become part of the public lexicon as two high-profile takeovers are being discussed. It was such a week: In a bid to win the hearts and minds of the board of Norfolk …

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Butter shortage forces Canada’s dairy commission to import 8.8-million pounds of butter as cream supply dries up

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During the recent debate over Canada signing the Trans-Pacific Partnership trade agreement, the dairy industry here rolled out a public relations campaign aimed at fighting to keep out imported products and convincing Canadians to cherish instead the bounty of milk, cream and butter that come from our home and native …

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