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Tag Archives: Canadian

Canadian lawsuit names Bank of Nova Scotia in gold price manipulation

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TORONTO — Bank of Nova Scotia, embroiled in a lawsuit in the United States along with a handful of international banks over alleged manipulation of a key benchmark based on the gold price, is facing a fresh lawsuit filed in Canada. Lawyers at Sotos LLP, Koskie Minsky LLP and Camp …

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Canadian Natural Resources Ltd upgraded at Citigroup

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Canadian Natural Resources Ltd. was among several energy producers upgraded on Tuesday by Citigroup in anticipation of tides turning for the sector in 2016. Analyst Robert Morris raised his rating on CNRL to buy from neutral, along with EOG Resources Inc., Cimarex Energy Co. and Anadarko Petroleum Corp. Oasis Petroleum …

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

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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 …

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

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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 …

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Canadian crude — the world’s cheapest oil — falls to record low as slump deepens

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A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more production coming offline. Spot prices for Western Canadian Select fell to US$19.81 a barrel on Wednesday, the lowest since tracking …

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Slumping loonie holds silver lining for Canadian retailers as cross-border shopping expected to ‘all but die’

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The Canadian dollar’s plunge to a 12-year low is seen boosting sales for the country’s retailers in 2016 as fewer shoppers cross the border south, but profit growth will vary depending on their ability to control import costs and push through price increases. Canadian dollar touches fresh 12-year low, raising …

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Suncor Energy Inc’s $4.13B hostile takeover of Canadian Oil Sands Ltd teeters as Friday deadline looms

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Suncor Energy Inc.’s $4.13 billion takeover of Canadian Oil Sands Ltd. looks far from certain, with the target’s share price trading at a record gap to the bid just a day before expiring. Where did the potential buyers of Canadian Oil Sands disappear to? At a hearing before the Alberta …

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Two unions join chorus against Canadian Pacific Railway Ltd’s Norfolk Southern Corp bid

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Two trade unions representing workers at No. 4 U.S. railroad Norfolk Southern Corp have joined a growing chorus of opposition to an unsolicited bid from Canadian Pacific Railway Ltd, one in an unpublished letter sent to the U.S. rail regulator and the other in an interview with Reuters. The moves …

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Canadian dollar, crude oil plunge in tandem to lowest levels in 13 years

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CALGARY – Crude oil prices and the Canadian dollar nosedived in tandem on Tuesday, bringing Canadian stock prices down with them, with the S&P/TSX Composite Index falling to its lowest point since 2013, before recovering on the back of a late-day rally in bank stocks. Loonie set for unprecedented plunge …

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Investors can’t get enough of Canadian banks’ NVCCC preferreds as buffer to turbulent markets

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Bank issues on viable contingent capital in the form of rate reset preferred shares is the $2- billion plus flavor of the month for investors. Given that they all pay attractive yields and are relatively risk free, they are attractive to buy certainly when considered alongside the negativity affecting the …

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