BlackBerry Ltd.’s withering smartphone business means potential acquirers will pick over its more alluring assets, including software and patents, which together may be worth about $5 billion, roughly in line with the company’s current market value.
Byron Capital Markets Ltd. hired Dev Bhangui as a research analyst to cover disruptive technologies from his previous position at Fraser Mackenzie Ltd., according to Vlaad & Co., a Toronto-based financial services recruiting firm.
CGI Group Inc. founder Serge Godin said the “stars were aligned” when he capitalized on a strong Canadian dollar and depressed European economy to buy Logica Plc for $2.6 billion last year. That constellation has spurred a surge in shares of CGI and made Godin a billionaire.
Canadian life insurance stocks led by Manulife Financial Corp. are outperforming banks by the most in more than two decades as they gain from business abroad while lenders face slower consumer borrowing.
Plunging commodity stocks led by Iamgold Corp. are overshadowing gains by seven out of 10 industry groups in Canada’s top equity index as companies from Valeant Pharmaceuticals International Inc. to Telus Corp. benefit from better prospects for earnings and dividend growth.
Royal Bank of Canada, the country’s largest lender, and Canadian Imperial Bank of Commerce posted higher second-quarter profits amid gains in domestic consumer lending and a decline in provisions for bad loans.
Canadian Imperial Bank of Commerce, the country’s fifth-largest bank, named Tom Woods vice chairman and promoted Laura Dottori-Attanasio to chief risk officer to replace Woods, according to Vlaad and Co., a Toronto-based financial services recruiting firm.