Prem Watsa News
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Resolute Forest Products Inc. Chief Executive Officer Richard Garneau says the world’s largest newsprint maker will consider acquisitions as lower borrowing costs aid a push into more lucrative products.
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Fairfax Financial Holdings Ltd. Chief Executive Officer Prem Watsa said he wants to boost his company’s stake in an insurance venture with India’s ICICI Bank Ltd. when rules allow for increased foreign ownership.
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Fairfax Financial Holdings Ltd., which has largely bet against financial companies since 2003, plans to maintain its holdings in Wells Fargo & Co. and U.S. Bancorp, Chief Executive Officer Prem Watsa said.
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Research In Motion Ltd. shareholder Fairfax Financial Holdings Ltd. almost doubled its stake in the BlackBerry maker, making it RIM’s biggest investor and offering a vote of confidence to the ailing Canadian company.
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Investors are showing more confidence in Fairfax Financial Holdings Ltd. ’s debt than they have in at least six years after Chief Executive Officer Prem Watsa ’s bets against U.S. financial companies made it the most profitable insurer in Canada.
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Fairfax Financial Holdings Ltd., with seven of eight hedge funds it accused of spreading false rumors out of a lawsuit, may see the $24 billion case shrink again with a judge poised to rule whether racketeering counts allowing triple damages should be tossed.
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Goldman Sachs Group Inc. may be better off cutting its losses instead of fighting what it terms “unfounded” fraud claims, say professors of securities law who have examined the U.S. Securities and Exchange Commission’s lawsuit against the bank.
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SandRidge Energy Inc., the oil company that lost more than one-fourth of its market value this year, adopted a shareholder rights plan after two of its major owners called for a sale of the company.
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Research In Motion Ltd.’s Barbara Stymiest, a week into leading a board that had faced investor criticism for being ineffective, said she plans further changes to the director lineup to help revive the BlackBerry maker.
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Donald Yacktman, whose $19 billion mutual-fund firm has outperformed peers by picking undervalued stocks, is leading a rush of investors betting Research In Motion Ltd. and its BlackBerry smartphone can recover.
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