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Tag Archives: Capital

GMP Capital Inc to cut 97 jobs, suspend dividend, exit U.K. and Australia

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Independent Canadian investment dealer GMP Capital Inc. is pulling out of the United Kingdom and Australia and suspending its quarterly common share dividend to deal with the effects of weak commodity prices and increasing regulation. Offices in London, Perth and Sydney will be closed, and 97 jobs will be cut, …

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Mackie Research Capital learns what happens when you hit the Send button too quickly

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The next time a company’s chief executive decides to send a missive to employees, it’s probably best to check with an assistant to find out if it’s been done correctly. As oilpatch layoffs mount, downsizing with dignity is becoming a challenge There’s no good way to lose your job, but …

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Penn West Petroleum Ltd’s 2016 capital budget down 90% from last year, production to fall

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CALGARY — Penn West Petroleum Ltd. is cutting its capital budget for 2016 to only one-tenth of what it spent last year as the conventional oil and gas producer lowers its average daily output, shuts in wells and works to reduce expenses. The Calgary-based company says its 2016 budget capital …

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Canadian capital markets expect P3 financing windfall from Ottawa’s stimulus spending

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As the federal government prepares to spend billions of dollars on infrastructure projects to help stimulate the floundering economy, Canadian capital markets are expecting a corresponding bonanza in financing opportunities for public-private partnerships. During the election, the Liberals committed to spending $125 billion on infrastructure during the next decade. It’s …

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Two days, two deals: Can Barclays Capital Canada complete the hat trick on Wednesday?

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The second week of February 2016 has been very rewarding for Barclays Capital Canada, a unit of Barclays Bank plc. On Tuesday, the day Fortis announced that it had agreed to offer US$6.9 billion to acquire U.S. power transmission company ITC Holdings Corp., tucked away in the bottom of the …

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Pivot’s nemesis Torrent Capital presents alternative plan that would benefit all shareholders

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The war of words between Torrent Capital, a major shareholder in Pivot Technology Solutions, and the company about how best to proceed in light of a proposed going private transaction continues. Torrent fired the latest salvo this week – the third it has made since Pivot announced its share exchange …

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Home Capital earnings lower than expected, but company says it’s making progress reviewing suspect mortgages

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Home Capital Group said it continues to make progress in reviewing its portfolio of mortgages generated by 45 brokers suspended for fraud last year, with the value of suspect mortgages dropping by roughly $200 million in the fourth quarter. The Toronto-based mortgage lender announced Wednesday that it has now reviewed …

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Home Capital Group CEO Gerald Soloway to step down after 30 years with mortgage lender

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Home Capital Group Inc. chief executive Gerald Soloway is stepping down after almost 30 years at the helm of the mortgage lender. He will hand the reins to company president Martin K. Reid at the company’s annual meeting on May 11. Soloway will remain a director of Home Capital and …

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