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Manulife Financial Corp faces more challenges ahead


The collapse in oil prices has already taken a toll on Manulife Financial Corp., but one analyst is warning that more pain may be coming and analysts’ fourth-quarter earnings estimates don’t appear achievable. Gabriel Dechaine at Canaccord Genuity noted that Manulife recorded zero investment gains in 2015, compared to its …

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China Investment Corp retreats from Canada after mining, energy investments sour


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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Why Potash Corp should take a run at Intrepid Potash…in a year


Potash Corp. of Saskatchewan Inc. should consider a takeover of Intrepid Potash Inc. even though the analyst recommending such a deal doesn’t think it will happen for a year. Ben Isaacson at Scotiabank noted that Potash Corp.’s failed acquisition of Germany-based K+S AG was about both consolidation and accretion. However, …

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TransCanada Corp launches US$15-billion lawsuit against U.S. government for rejecting Keystone XL


CALGARY – TransCanada Corp. said Wednesday it intends to file a challenge under the North American Free Trade Agreement (NAFTA) seeking US$15-billion in damages from the United States government over President Barack Obama’s denial of the Keystone XL pipeline. In addition, the Calgary-based company filed a lawsuit in U.S. Federal …

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Dundee Corp listened and responded with better proposal on amending its preferred shares


The people have spoken and the people, in this case holders of Series 4 preferred shares issued by Dundee Corp. who responded negatively to an initial proposal, have emerged victorious. But they only won because Dundee listened and changed a plan that seemed destined to be shot down at a …

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Eldorado Gold Corp shares plunge 19% after company suspends most activities in Greece


Over several years, Eldorado Gold Corp. earned a reputation for getting mines built in challenging countries where its rivals struggled. But in Greece, that reputation is being seriously tested. The Vancouver-based miner’s stock plunged 19 per cent to $3.53 on Tuesday after it announced the suspension of most of its …

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Eldorado Gold Corp suspends much of its mine construction in Greece as permit delays continue


Canadian miner Eldorado Gold Corp on Monday said it was suspending much of its mine construction and development in Greece after a year of confrontations with the Greek government that included permits being revoked and delayed by the state. Eldorado said it would suspend construction at its Skouries project and …

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TransAlta Corp cuts dividend by more than a third to save money for shift away from coal


TransAlta Corp, the Alberta power generator, cut its quarterly dividend by more than a third to save money as it transitions toward gas and renewable power generation and away from coal. The quarterly dividend was cut to 4 cents a share from 18 cents previously, the company said in a …

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Potash Corp of Saskatchewan to shutter New Brunswick mine at cost of 430 jobs


Potash Corp. of Saskatchewan Inc.’s decision to shut its New Brunswick operations reflects the fact that potash demand hasn’t met the fertilizer industry’s hopes for the better part of a decade. The move effectively nullifies a $2 billion investment that was first approved in 2007, and will result in up …

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After Keystone XL rejection, TransCanada Corp looks to beef up U.S. Gulf Coast presence


With its ambitious Keystone XL project rejected by U.S. President Barack Obama, TransCanada Corp. is pursuing more modest developments in the U.S. Gulf Coast to make inroads in the oil refinery complex. TransCanada launches US$15B lawsuit against U.S. government for rejecting Keystone XL TransCanada Corp. said Wednesday it intends to …

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