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CRTC Approves BCE Acquisition by Teachers’ Group

The Canadian Radio-television and Telecommunications Commission (CRTC) has approved, subject to certain conditions, the purchase of BCE by a group led by the Ontario Teachers’ Pension Plan. “The application under review proposed to privatize the country’s largest communications company and included significant foreign interest,” says Konrad von Finckenstein, the CRTC’s chairman. “Consistent with previous decisions, […]

  • March 27, 2008 September 13, 2019
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JPMorgan to Purchase Nordea Custody Portfolio

JPMorgan Worldwide Securities Services will acquire the institutional global custody portfolio of Nordea, a firm with approximately €200 billion in assets under custody. As a result of the purchase, JPMorgan also intends to offer local depository services to in-country mutual funds through the establishment of new branches in Norway, Denmark and Finland together with an […]

  • March 27, 2008 September 13, 2019
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Ontario Budget Positive for Employers’ Benefits Programs

The 2008 Ontario Budget could have a positive impact on employers offering benefits programs to their workers in that province, says an Aon Consulting InfoFlash. As part of the government’s illness prevention and cancer screening program, the budget proposes that the provincial healthcare plan will cover the cost of prostate-specific antigen (PSA) tests used to […]

  • March 26, 2008 September 13, 2019
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Employers Most Concerned About Talent Shortage

A shortage of skilled and talented workers is the most pressing concern among American employers, displacing the perennial leading problem—rising healthcare costs—according to a survey. The 14th annual Top Five Total Rewards Priorities survey, conducted by Deloitte Consulting LLP and the International Society of Certified Employee Benefit Specialists, finds that nearly three-quarters of human resources […]

  • March 26, 2008 September 13, 2019
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CN Faces Overtime Suit

Canadian National Railway is facing an overtime class action lawsuit alleging that some employees worked overtime hours without getting paid. Law firms Sack Goldblatt Mitchell LLP and Roy Elliot O’Connor—co-lead counsel on the CIBC and Scotiabank unpaid class actions—say the suit covers more than 1,000 present and former CN first line supervisors across the country. […]

  • March 25, 2008 September 13, 2019
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ABCP Value Drops, RBC Says

The value of some third-party asset-backed commercial paper (ABCP) has dropped significantly, according to a research note from RBC Dominion Securities. The note cites JPMorgan Chase’s recently released report on the restructuring that says leveraged super senior (LSS) swaps transactions were worth approximately 30%. Those transactions comprise $17.2 billion out of the approximately $33 billion […]

  • March 24, 2008 September 13, 2019
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ABCP Restructuring Vote Set for April

Investors that hold third-party asset-backed commercial paper (ABCP) will have the opportunity to vote on the restructuring plan on April 25, according to a statement released on Thursday evening. The Ontario Superior Court of Justice recently granted an application by the Pan-Canadian Investors Committee for Third-Party Structured ABCP under the provisions of the Companies’ Creditors […]

  • March 24, 2008 September 13, 2019
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JPMorgan Ups Bid for Bear Stearns

JPMorgan Chase has raised its bid for Bear Stearns to US$1.2 billion, up from last week’s offer of $232 million. Under the revised terms, each share of Bear Stearns would be exchanged for 0.21753 shares of JPMorgan Chase, reflecting an implied value of approximately $10 per share of Bear Stearns. In addition, the two companies […]

  • March 24, 2008 September 13, 2019
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Investor Confidence Rises

Institutional investors are more confident this month, according to the State Street Investor Confidence Index. Global investor confidence rose 4.8 points to 77.4 from 72.6 in February. Amongst North American investors, confidence rose 5.4 points to 83.5 and risk appetite in other regions complemented this, with European investor confidence rising to 88.6 from 84.0 and […]

  • March 19, 2008 September 13, 2019
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Court Approves Process for Third-Party ABCP Restructuring Plan

The Ontario Superior Court of Justice has granted an application by The Pan-Canadian Investors Committee for Third-Party Structured asset-backed commercial paper (ABCP) under the provisions of the Companies’ Creditors Arrangement Act (CCAA) establishing a procedure for noteholder approval of the restructuring plan. The plan must now be approved by noteholders at a meeting that is […]

  • March 18, 2008 September 13, 2019
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