Business
Payment technology company Nuvei signs deal valued at US$1.3B to buy Paya
By The Canadian Press on January 9th, 2023
MONTREAL – Payment technology company Nuvei Corp. has signed a deal to buy U.S. company Paya Holdings Inc. valued at US$1.3 billion. Under the agreement, Montreal-based Nuvei will pay US$9.75 per share in cash. The purchase price is a 25 per cent premium to Paya’s closing price on Friday of US$7.79. Atlanta-based Paya is a ... Read More »
Be the first to comment!Lululemon raises revenue guidance, but lowers expectations for gross margins
By The Canadian Press on January 9th, 2023
VANCOUVER – Lululemon Athletica Inc. raised its revenue guidance for its fourth quarter, but lowered its expectations for its gross margins. The company, which keeps its books in U.S. dollars, says it expects net revenue for the quarter will be in a range of US$2.66 billion to US$2.7 billion, compared with its earlier guidance for ... Read More »
Be the first to comment!Cannabis company Tilray Brands reports Q2 loss, revenue down from year ago
By The Canadian Press on January 9th, 2023
LEAMINGTON, Ont. – Tilray Brands Inc. reported a second-quarter net loss of US$61.6 million compared with net income of nearly US$5.8 million in the same quarter a year earlier. The cannabis company, which keeps its books in U.S. dollars, says the loss amounted to 11 cents per diluted share for the three months ended Nov. ... Read More »
Be the first to comment!Management-led group makes takeover bid for Canaccord Genuity
By The Canadian Press on January 9th, 2023
TORONTO – A management-led group of Canaccord Genuity Group Inc. employees has made a takeover bid for the company valued at $1.127 billion. The employee group is offering $11.25 per share for the financial services firm. Canaccord Genuity shares closed at $8.61 on the Toronto Stock Exchange on Friday. The employee group making the offer ... Read More »
Be the first to comment!Canadian Press NewsAlert: Management group makes takeover bid for Canaccord Genuity
By The Canadian Press on January 9th, 2023
TORONTO – A management-led group of Canaccord Genuity Group Inc. executives has made a takeover bid for the company valued at $1.127 billion. More coming. Companies in this story: (TSX:CF)... Read More »
Be the first to comment!Energy price volatility to continue in 2023 amid geopolitical uncertainty: Deloitte
By The Canadian Press on January 9th, 2023
TORONTO – Deloitte says energy prices will likely be volatile in the first quarter of 2023 as geopolitical uncertainty continues. The firm’s energy, oil and gas price forecast released Monday says global factors including the war in Ukraine and China’s rocky COVID reopening will continue to contribute to tension between supply and demand. After breaching ... Read More »
Be the first to comment!As ‘Three Amigos’ meet in Mexico, experts call on leaders for North American vision
By James McCarten, The Canadian Press on January 9th, 2023
WASHINGTON – From the frosty throes of a Canadian winter, the land of conquistadors and Frida Kahlo can seem a million miles away. But that’s not the way North American diplomats, trade experts and business leaders see it – and they hope the continent’s leaders have a similar vision as the so-called “Three Amigos” gather ... Read More »
Be the first to comment!Czech ex-Premier Babis acquitted in EU funds fraud case
By The Associated Press on January 9th, 2023
PRAGUE (AP) – A Prague court on Monday acquitted former Prime Minister Andrej Babis of fraud charges in a $2 million case involving European Union subsidies. A prosecutor requested a three-year suspended sentence and a fine of 10 million Czech koruna ($440,000) for the populist billionaire. Babis pleaded not guilty and repeatedly said the charges ... Read More »
Be the first to comment!Homebuyers hope ‘patience pays off’ as prices drop, recession predictions loom
By Tara Deschamps, The Canadian Press on January 8th, 2023
TORONTO – Andrew Hamilton and his wife bid farewell to their home in Toronto’s Junction neighbourhood roughly a year and a half ago, when housing prices were soaring, but finding a new abode proved tricky. With no available homes meeting their needs or price range, the couple opted to temporarily use the equity they got ... Read More »
Be the first to comment!‘Three Amigos’ gather this week in Mexico City to talk North American excellence
By James McCarten, The Canadian Press on January 8th, 2023
WASHINGTON – Familiar North American irritants – U.S. protectionism, intransigence on continental trade, irregular migration – return to the fore this week as the so-called “Three Amigos” meet for a trilateral summit in Mexico City. Canada had an automotive axe to grind with the U.S. the last time Prime Minister Justin Trudeau, President Joe Biden ... Read More »
Be the first to comment!S&P/TSX composite gains 300 points Friday, U.S. markets up more than 2 per cent
By Rosa Saba, The Canadian Press on January 6th, 2023
TORONTO – Canada’s main stock index rose 1.58 per cent Friday on broad-based gains while U.S. markets were all up by more than two per cent. The S&P/TSX composite index was up 307.67 points at 19,814.51. In New York, the Dow Jones industrial average was up 700.53 points, or 2.13 per cent, at 33,630.61. The ... Read More »
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