November 28th, 2020

Business

Mercedes-Benz Canada names new CEO Eva Wiese, the first woman to hold the title

By The Canadian Press on November 16th, 2020

TORONTO – Mercedes-Benz Canada says Eva Wiese will become its new CEO in February 2021, becoming the first woman to hold the title. Wiese will replace Dimitris Psillakis, who will become head of marketing and sales at Mercedes-Benz Cars North America and chief executive of MBUSA. Between Psillakis and Wiese, Mercedes-Benz Canada Chief Financial Officer ... Read More »

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Canada home sales post best October on record, despite falling from September high

By Anita Balakrishnan, The Canadian Press on November 16th, 2020

The COVID-19 pandemic has primed the Canadian housing market for a particularly busy October, pushing sales to a monthly record in the off-season despite cooling weather and a second wave of infections. “(This year) continues to be a highly unusual year with high home sales volumes in the fall – a time that we typically ... Read More »

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Business group says lockdown loopholes hurt small retailers, benefit big box stores

By The Canadian Press on November 16th, 2020

The head of a business group says lockdown loopholes are emerging as parts of the country step up restrictions to combat COVID-19, allowing some stores to remain open while similar retailers are forced to close. Dan Kelly, president of the Canadian Federation of Independent Business, says only select retailers deemed essential were permitted to remain ... Read More »

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CPP Investments grow five per cent in second quarter with widespread positive returns

By The Canadian Press on November 16th, 2020

TORONTO – CPP Investments has a cautious outlook for the months ahead despite strong returns through the July-to-September period, with net assets up $22.3 billion or five per cent from the previous quarter. The independent investment manager for the Canada Pension Plan said Monday it had $456.7 billion in assets as of Sept. 30, up ... Read More »

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Transat executives take a hit from reduced value of sale to Air Canada: proxy

By The Canadian Press on November 16th, 2020

MONTREAL – Nearly two dozen Transat A.T. executives and directors will see their proceeds from the company’s sale to Air Canada drop following a dramatic reduction in the transaction’s value. They will split about $13 million for the shares of Air Transat’s parent company and other financial instruments they hold, according to a circular sent ... Read More »

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Endeavour Mining inks deal to buy Teranga Gold for $2.4 billion in shares

By The Canadian Press on November 16th, 2020

TORONTO – Endeavour Mining Corp. has signed a deal to buy Teranga Gold Corp. in an all-stock deal valued at about $2.4 billion. Under the plan, Teranga shareholders will receive 0.47 of an Endeavour share for each Teranga share they own. Existing Endeavour shareholders will own 66 per cent of the combined company, while Teranga ... Read More »

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Industry group says retailers reeling from new restrictions, confusion about closures

By The Canadian Press on November 16th, 2020

The head of a national retail industry group says tighter restrictions stemming from stricter public health measures are causing widespread confusion for retailers and consumers across the country. Diane Brisebois, Retail Council of Canada president and CEO, says the lack of clear, harmonized rules – even within the same province – is leaving shoppers unsure ... Read More »

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CPP Investments grows 5 per cent in Q2 with widespread positive returns

By The Canadian Press on November 16th, 2020

TORONTO – CPP Investments has a cautious outlook for the months ahead despite strong returns through the July-to-September period, with net assets up $22.3 billion or five per cent since the previous quarter. The independent investment manager for the Canada Pension Plan on Monday reported $456.7 billion in assets as of Sept. 30, up from ... Read More »

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SEC Chair Clayton leaving post as top financial regulator

By Marcy Gordon, The Associated Press on November 16th, 2020

WASHINGTON – Jay Clayton, a former Wall Street lawyer who has headed the Securities and Exchange Commission as the financial markets’ top regulator during the Trump administration, is leaving the position at year’s end, the SEC announced Monday. Clayton’s term runs through mid-2021. It is common practice for agency heads or Cabinet members appointed under ... Read More »

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Saudi Aramco to issue bonds as it seeks cash amid oil slump

By Aya Batrawy, The Associated Press on November 16th, 2020

DUBAI, United Arab Emirates – Saudi Arabia’s oil giant Aramco announced Monday it will issue international bonds as it seeks a cash infusion to help pay for billions of dollars in dividends the company promised shareholders before the global coronavirus pandemic sent oil prices plummeting. In a statement posted on the Saudi Tadawul stock exchange, ... Read More »

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Home Depot reunites with HD Supply in deal valued at $8B

By Michelle Chapman, The Associated Press on November 16th, 2020

Home Depot is reuniting with former subsidiary HD Supply, buying the company in a deal valued at about $8 billion. The acquisition will give Home Depot a stronger hand in the contractor and professional side of its business, which is booming during the pandemic, just like its more consumer facing, DIY sales. HD Supply is ... Read More »

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