Hudson’s Bay Co., Canada’s oldest company, is trying to free itself of more than C$225 million ($226 million) in rent payments left over from the sale of store leases to Target Corp. as it prepares to raise about C$400 million in an initial public offering.
Opposition from some of Canada’s biggest financial firms shows that concerns are mounting to the proposed sale of the Toronto Stock Exchange to the London Stock Exchange Group Plc, a banking lobby group said.
The Supreme Court of Canada said that Finance Minister Jim Flaherty’s proposal to create a national securities regulator is unconstitutional, arguing that the federal government overstepped its authority into provincial jurisdiction.
Executives at Research In Motion Ltd. have refrained from buying the company’s shares for the longest period in at least six years. Now investors are wondering if the mobile-device maker famous for its ubiquitous BlackBerry phones is skittish about its own prospects.
Canadian stocks rose for a fourth day as Teck Resources Ltd. jumped after reinstating its dividend and an index of gold companies gained on demand for the precious metal amid the fiscal crisis in Europe.
Toronto-Dominion Bank and other Canadian lenders are apprehensive about the proposed sale of TMX Group Inc. to London Stock Exchange Group Plc because the country will cede regulatory control of its main stock exchange.
Canadian stocks fell a second day, paring a weekly gain in the main stock index, as energy and copper producers fell with commodity prices on concern that Europe’s debt crisis will curb demand for raw materials.