Report on Business - The Globe and Mail

Friday’s analyst upgrades and downgrades

Mining

Barrick eyes hostile bid as Newmont set to become No. 1 gold producer

Under the potential terms of the deal, Barrick would keep Newmont’s Nevada and African mines, while Australia’s Newcrest Mining would take over its Australian operations, which are worth billions

Barrick CEO Bristow stands to earn as much as $18-million if targets are met

Pay would exceed US$17-million paid to John Thornton in 2012

Dinner and a golden proposal: How Goldcorp and Newmont came together

The mid-December dinner had been on their schedules for some time, and was planned simply to build the rapport between the two senior gold mining companies

retail

Hudson’s Bay Company to close all Home Outfitters stores and some Saks Off 5th locations

Analyst says focusing on a smaller number of chains should better position the company for improved profitability

Hudson’s Bay CEO working hard and fast on fixing the fundamentals

After five years of acquiring bright, shiny objects – Saks, the European retailer Galeria Kaufhof and the Gilt.com flash-sale site – HBC under Helena Foulkes is unravelling its complex structure, selling divisions, closing stores and getting back to basics

Lord & Taylor closes flagship store in New York

The venerable department store famed for its animated holiday windows closed down Wednesday afternoon, ending a blowout sale that left whole floors empty

HBC stock climbs after exec purchases about 18 million of the retailer’s shares

Hudson’s Bay Co.’s stock was up almost 16 per cent

earnings

RBC kicks off big bank results with a dividend boost and higher profit

Fourth-quarter earnings rise 2 per cent to $3.17-billion

Home Capital profit rises on increased mortgage originations

The alternative mortgage lender says it earned $35.8 million or 46 cents per share for the quarter ended Dec. 31

Magna raises dividend as profit beats estimates on strength in vehicle assembly unit

Fourth-quarter earnings fall to $456-million from $559-million a year ago

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Featured

Tax Matters Changes in 2018 that may affect your tax filings Tim Cestnick

Tim Cestnick

Friday’s Insider Report: Vice-chair sells nearly $6-million in this rising security yielding over 5%

File #: 8373881 Stock chart Market Analyze on lcd screen pen pointing at a business graph Credit: iStockphoto (Royalty-Free) Keywords: Graph, Moving Down, Stock Market Data, Financial Occupation, Stock Market, Chart, Moving Up, Finance

Caisse CEO Michael Sabia strongly defends long-term value of SNC-Lavalin despite current legal woes

Saputo gains foothold in U.K. market with $1.7-billion Dairy Crest deal

For The Globe and Mail

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Brookfield Financial loses two top partners in New York and London The departures of New York-based Dan McNulty and Jonathan Milich in London come after BFIN parted ways with one of its Canadian deal makers, Leonard Abramsky

Lexpert: Cryptocurrency may be today’s darling, but regulators are struggling to keep up with their evolution Quite apart from its wide fluctuations in value, bitcoin has so far not been able to shake off the simple reality that the technology is slow

Sun Life hires long-time TD executive Rowena Chan will become president of Sun Life Financial Distributors, overseeing the insurer’s 4,000-adviser network

JLL’s Montreal capital markets team signs on with rival CBRE According to CBRE Quebec’s managing director Avi Krispine, the five-person team is significant because three of the former JLL employees are deal-makers

Windfall shrinks at Economical Insurance IPO Policy-holders see charity and changing rules turn $1-million windfall into $300,000

Outgoing Suncor CEO Steve Williams speaks frankly on government meddling in energy Williams had a wild ride as CEO of Suncor. Now, as he gets ready to retire after seven years at the top, he reflects on oil prices, climate change, Doug Ford and the future of energy production (hint: it’s not oil)

Power Outage: Inside the epic battle between Doug Ford and Hydro One Doug Ford vowed that if he were elected Ontario Premier, it would be lights out for Hydro One CEO Mayo Schmidt. So why didn’t an experienced operator like Schmidt see what was coming?

Canadian mines have wreaked havoc in developing countries for decades. Finally, there’s hope for a solution In Guatemala, Indigenous communities have been collateral damage in the violence surrounding Canadian-owned resource projects. Now, they’re bringing the fight for justice here

Download the February 2019 edition of Report on Business magazine Read the full issue, exclusively for subscribers

How Cineplex Media president Salah Bachir made it to the top of Canada’s cinema scene The movie buff is also a prolific art collector and an international philanthropist for LGBTQ, health-care, educational and arts organizations

Invest Like a Legend: Aswath Damodaran

Latest Business news

Home Capital profit rises on increased mortgage originations February 22

Magna raises dividend as profit beats estimates on strength in vehicle assembly unit February 22 Updated

Asian shares tread water as investors watch U.S.-China trade talks February 21 Updated

Barrick eyes hostile bid as Newmont set to become No. 1 gold producer February 21 Updated

Huawei promises to keep intellectual property in Canada as it makes PR push amid security review February 21

Waterfront Toronto executives deny Liberal involvement in selecting Sidewalk Labs for smart-city proposal February 21 Updated

Streetwise Newsletter Streetwise newsletter: Brookfield Financial loses two top partners; the latest on Quadriga’s missing money February 21

Hudson’s Bay Company to close all Home Outfitters stores and some Saks Off 5th locations February 21

Business video

72-year-old Prabhat shares his story of coming to Canada and how retirement is all about giving back Advertising feature produced by Globe Content Studio. The Globe’s editorial department was not involved.

Back-to-work bill for Ontario power workers is a scare tactic: Horwath The Ontario government has introduced legislation aimed at preventing a strike at one of the province’s major utilities, Ontario Power Generation. NDP Leader Andrea Horwath says Premier Doug Ford "went straight to the biggest hammer available.”

Liftoff: David Saint-Jacques launches for the International Space Station The Soyuz rocket carrying Canadian David Saint-Jacques and two other astronauts successfully launched from Russia Monday morning, heading toward the International Space Station for a six-month mission.

Hustle in the oil patch: How large oil companies shed millions from their books A booming trade of unprofitable oil and gas wells in Western Canada is allowing companies to evade cleanup costs. Just a few years after the oil boom, energy companies are shedding distressed wells in Alberta, B.C. and Saskatchewan for next to nothing. And it’s going virtually unchecked by regulators. Who will pay to clean it up? Visit tgam.ca/wells for more (for subscribers).

Carrick Talks Money: It's okay to spend some savings during your healthiest retirement years The Globe's Rob Carrick has always stressed saving for retirement, but given the limited period of peak health after age 65 it's important to spend wisely and enjoy yourself.

Carrick Talks Money: What is F.I.R.E.? Be prepared to save your brains out Independent Financial Adviser, Darryl Brown, answers some reader questions with Rob Carrick on one of the newest retirement planning strategies called F.I.R.E., Financial Independence Retire Early.

How to manage your home equity line of credit Personal finance columnist Rob Carrick outlines the best ways to manage a home equity line of credit. Rob says that figures suggest too many Canadians are using a line of credit as an ATM to fund lifestyle purchases such as electronics.

In case you missed it

Small-cap stars on the rise: The little-known TSX Venture stocks with eye-popping returns

Friday’s small-cap stocks to watch

Ontario orders Hydro One to cap CEO compensation at $1.5-million

Business Briefing The Canadian dollar’s spindly legs could soon give out

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Report on Small Business Newsletter: Vegan food producer ordered to drop the word ‘cheese’ from its marketing

Small Business Resource Centre For small businesses, gaining media coverage takes a deft touch

Montreal developer pulls condo marketing campaign after Indigenous community protests

International Business

Huawei chair says company committed to Canadian investment, despite CFO’s arrest

Nike shares slip after Duke basketball star Zion Williamson’s sneaker rips

Nigeria hits oil majors with nearly $20-billion in back taxes

Vegan food producer ordered to drop the word ‘cheese’ from its marketing

Supporting female entrepreneurs begins with putting business sense before bias

Report on Small Business Newsletter: Financial tech firms hopeful federal reforms will force banks to share client data

Power Points Blackstone vice-chair’s three keys to success

Getty Images/iStockphoto

Leadership Lab Why your organization needs more ‘astronauts’

Business School Research How mindfulness can help business leaders become more positive

ROB Features

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