The country’s broadcast regulator has approved the sale of BCE Inc. to a consortium of Canadian and U.S. buyers, but investors continue to express doubt the $52 billion transaction will be completed.The Canadian Radio-television and Telecommunications Commission said yesterday after the markets closed that it has approved, with conditions, the takeover of the Bell Canada [...]
The Toronto stock market pulled back following a strong, five-day winning streak as financials stepped back on warnings of turmoil in the U.S. financial sector and investors fretted about the fate of the buyout of telecom giant BCE Inc. New York indexes moved [...]
LONDON–Looks great, doesn’t work very well. That was the verdict on Heathrow Airport’s new Terminal 5 building early Friday, as embarrassed British Airways officials said flight cancellations may extend into Saturday. The new building, praised as a solution to Heathrow’s chronic congestion, has been hit by severe baggage handling problems since it opened Thursday [...]
SEOUL%26ndash;Samsung Electronics Co. trimmed its sales forecast for this year on global economic woes, but said profit will be up because of growth in key areas such as memory chips, flat-panel displays and mobile hand sets. Global economic uncertainty will continue this [...]
Oracle Corp., the world’s third- largest software maker, fell as much as 10 percent in late trading after customers delayed orders for business applications on concern that the U.S. economy is slowing.
A collapse in the subprime lending market and record home foreclosures have contributed to more than $200 billion in bank writedowns and credit losses. [...]
Australia’s largest department store chain, said first-half profit rose 52 percent on Christmas demand for clothing and lower interest payments.
Net income rose to A$79 million ($73 million) in the six months ended Jan. 26 from A$52 million a year earlier, Melbourne-based Myer said in an e-mailed statement today. The closely held retailer is controlled by [...]
COLUMBUS, Ohio —
A federal jury on Wednesday convicted the founder of a failed health care company of trying to bribe a witness in an upcoming $1.9 billion fraud trial.The jury took one day to deliver its decision against Lance Poulsen, former chief executive officer of National Century Financial Enterprises, described as the nation’s largest [...]
LOS ANGELES —
Bankrupt mortgage lender New Century Financial Corp. used improper accounting practices while making risky loans, creating “a ticking time bomb” that led to the company’s rapid downfall, a court examiner said in a report released Wednesday.Michael J. Missal concluded that New Century engaged in at least seven improper accounting practices that led [...]
MGIC Investment Corp. has priced its planned common stock offering of 37.3 million shares at $11.25 per share, which would raise nearly $420 million in capital.
The Milwaukee-based mortgage insurer said Tuesday that the gross proceeds would be 20 percent more than MGIC’s previously announced expectations of raising $350 million. The company said Monday that chairman [...]
RBC Dominion Securities has quietly snagged a London-based team from CIBC to focus on finding money for highly indebted companies, another illustration of how the country’s two biggest investment banks are moving in different directions.
The leveraged finance business has been hammered by the credit crunch — investors are leery of lending even to top-notch companies [...]
