Business

Crude’s collapse sends shockwaves across global markets

Investors have gone from contemplating the prospect of oil at US$100 to sub-US$50 in less than two months. No wonder global markets are playing catch-up.From stocks and bonds to currencies, assets worldwide are gripped by a crude awakening. Monday saw oil’s largest one-day drop in three years, securing its longest losing streak on record.Early trading…

Terence Corcoran: Is corporate social responsibility killing Alberta oil?

For some time — decades, in fact — corporate governance gurus have been dragging Canadian business into an ideological swamp. Instead of simply pursuing profits for shareholders, it is now taken for granted that bankers, CEOs, directors, C-suite executives and institutional investors must champion corporations as centres of social and political agit-prop. Profits may be…

In EV era, Brookfield and Caisse place $13-billion bet on conventional car battery maker

The rapid growth of the electric vehicle industry may be drawing headlines, but when it comes to drawing major investments, the internal combustion engine remains on solid footing.In a deal that highlights the breadth of the traditional automotive industry, two Canadian investment funds on Tuesday announced a US$13.2-billion deal to purchase the leading global manufacturer…

How your company can wind up on the hook for your support obligations

A corporation is a separate legal entity, generally immune from the personal responsibilities of its shareholders. However, in rare circumstances, the veil that protects the corporation can be pierced and the corporation may find itself liable for the debts of its shareholders. That is precisely what happened in the 2018 case of Slater v. Slater,…

UK and EU negotiators have agreed on a Brexit deal

LONDON — UK and EU negotiating teams have agreed on a Brexit withdrawal deal which Prime Minister Theresa May will present to her Cabinet on Wednesday. The UK government confirmed reports that May’s most senior ministers would read the details of the draft agreement on Tuesday evening before a special Cabinet meeting at 2 p.m.…

Canada gets it right on cannabis, wrong on oil, GMP Capital CEO says

The roll-out of legal cannabis is a prime example of how Canada can get things right. Energy shows how the country sometimes gets it wrong.That’s the view of GMP Capital Inc.’s Harris Fricker, who is seeing deal-making in marijuana and blockchain eclipsing the traditional industries of energy and mining that were once bread-and-butter businesses for…

Brookfield and the Caisse buy automotive battery business from Johnson Controls in $13.2 billion deal

MONTREAL — Brookfield Business Partners LP and the Caisse de depot et placement du Quebec, together with a group of institutional partners, have signed a deal to buy Johnson Controls’ power solutions business for US$13.2 billion in one of the biggest leveraged buyouts this year.The business produces batteries for automakers and aftermarket distributors and retailers.The…

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