Montreal | Reuters — Flooding in towns across Quebec has forced hundreds of residents from their homes, and public security officials fear water levels will rise further with forecasters expecting rain Friday, local media reported on Wednesday. Heavy rains early this week have flooded towns in several areas across the predominately French-language province, including two […] Read more
Quebec flooding forces hundreds from homes
German minister expects to win vote on CETA
Montreal | Reuters –– Germany’s economy minister said Thursday he expected the country’s Social Democrats, a junior partner in the ruling coalition, to vote in favour of a free-trade agreement between Canada and the European Union at a party meeting on Sept. 19. “We will get a majority vote,” German Vice-Chancellor and Economic Affairs Minister […] Read more
Ackman exits CP, freeing up cash for next bet
Boston/Montreal | Reuters — Billionaire U.S. investor William Ackman has exited his hedge fund’s investment in Canadian Pacific Railway, freeing up roughly US$1.5 billion in cash to make other future investments. Pershing Square Capital Management and CP on Wednesday said the New York-based hedge fund had sold its remaining 9.8 million shares in the Canadian […] Read more
CP mulls litigation over opposition to Norfolk Southern deal
Reuters — Canadian Pacific Railway (CP) said Wednesday it is looking at all legal options in response to what it described as concerted efforts by certain U.S. railroads to block its proposed merger with Norfolk Southern. “It is unfortunate that CP must consider the use of litigation to ensure a level playing field and protect […] Read more
CP revises hostile bid for Norfolk Southern, again
Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board […] Read more
CP revises offer for Norfolk Southern, rebuffed again
Reuters — Canadian Pacific Railway (CP) on Tuesday revised its bid to buy U.S. railroad operator Norfolk Southern Corp, less than a week after its prior $28.4 billion proposal was rejected but the new offer was promptly rejected again. Calgary-based CP said it was now offering $32.86 in cash and 0.451 of a share in […] Read more
Dairy farmers milk politics of Pacific trade pact
Reuters — New Zealand dairy farmers have a message for their Canadian counterparts, who worry a Pacific trade deal will throw them on the mercy of world markets and devastate their industry: It’s not so bad. But heavily protected Canadian farmers have reason for skepticism. A deadlock over dairy has emerged as one of the […] Read more
Railway audit inadequate before Lac-Megantic disaster, TSB says
Lac-Megantic, Quebec | Reuters –– The Canadian government did not adequately audit the railroad company at the center of the Lac-Mégantic crude tanker disaster, which last year killed 47 people, an independent federal agency said on Tuesday, as it called for tougher scrutiny of the rail industry. The Transportation Safety Board of Canada, which issued […] Read more
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