canada

Target Going Canadian

It's official, Target is expanding north of the border, and has agreed to pay C$1.825 billion to purchase the leases of up to 220 stores currently...

Canadian Banks Find the U.S. Market Hard to Resist

Canadian banks fared well during the financial crisis and global recession thanks to their prudent management and the country's prudent regulations. But in a saturated market, what can they do with all the capital they've accumulated? Expand south of the border into the U.S., of course.

Canada Rejects Takeover Bid for Potash

In a surprise decision by a government that has historically favored foreign investment, Canada has rejected a $38.6 billion foreign takeover bid for Saskatchewan-based Potash Corp.

GM Says Employees Can Buy IPO Shares

General Motors is offering some 600,000 employees, retirees and dealers the chance to purchase stock in the resurgent company as the auto giant moves forward with its initial public offering, slated for next month.

BHP Will Lodge Motion to Remove Legal Obstacle to Potash Bid

BHP Billiton (BHP) will lodge a motion intended to remove a legal obstacle to its $39 billion hostile takeover bid for Potash Corp (POT). BHP said it plans to file a motion challenging a lawsuit filed by Potash Corp., which alleges that BHP misrepresented material facts related to the bid.

Green Mountain Coffee Roasters to Buy Van Houtte for $891 Million

Green Mountain Coffee Roasters Inc. (GMCR) will buy gourmet coffee roaster Van Houtte for C$915 million ($891 million). Van Houtte is currently owned by investment fund Littlejohn & Co., which took the company private in a deal worth about C$600 million in 2007.

Enbridge Closes Another Oil Pipeline

Enbridge Inc. (ENB) closed another pipeline after spotting a possible leak in New York. It%u2019s the third pipeline Enbridge has closed since July, following leaks in Illinois and Michigan, The Associated Press reported.

Enbridge Says It Recovered Most of the Oil From Damaged Pipe

The 34-inch pipe in Romeoville, Ill., 30 miles southwest of Chicago, is still shut, with no indication of when it will reopen. Enbridge said it collected about 6,050 of the 6,100 barrels that leaked. The 34-inch pipe in Romeoville, Illinois, 30 miles southwest of Chicago, is still shut, with no indication of when it will re-open, Bloomberg News reported. The company said it collected about 6,050 of the 6,100 barrels that leaked.

UPS Launches Marketing Campaign to Promote Logistics Business

Package-delivery company United Parcel Service (UPS) is launching its largest ever marketing campaign to promote its logistic business to small and medium- sized companies looking to export their products. Print, TV and digital-media ads in the U.S., China, Mexico and the UK will promote UPS logistics with the slogan "We [Heart] Logistics" The Wall Street Journal reported.

Goldcorp to Buy Andean Resources for $3.4 Billion

Goldcorp Inc. (GG) will purchase Andean Resources Limited (AND) for about C$3.6 billion ($3.4 billion). Andean%u2019s principal asset is its Cerro Negro gold project in Argentina, the companies said in a statement. Cerro Negro currently has reported indicated resources of 2.54 million ounces of gold and 23.56 million ounces of silver.

Potash Had Contact With Brazil's Vale, China's Sinochem

Potash Corp. (POT) had contact with China%u2019s Sinochem Group and Brazil%u2019s Vale (VALE) as the Canadian company looks for alternatives to a hostile takeover bid from BHP Billiton Ltd (BHP). Vale and Sinochem both made contact late last week, Bloomberg News reported without naming its sources. Neither company has held formal talks with the world%u2019s biggest fertilizer company.

GM Recalls 243,403 Vehicles for Safety Belt Buckle Problem

General Motors is recalling 243,403 vehicles because of a potential safety problem where safety belts could appear to be properly latched when they are not. The recall affects 2009-2010 models of the Chevrolet Traverse, Buick Enclave, GMC Acadia and Saturn Outlook, GM said today in a statement. Most of the vehicles are in the United States, with several thousand exported vehicles in countries such as Canada and Mexico also affected.

Kinross Gold to Buy Red Back Mining for $7.1 Billion

Kinross Gold Corp. (KGC) will buy the 91% of shares in Red Back Mining (RBIFF) that it doesn%u2019t already own. Kinross will pay $7.1 billion for the shares. The price represents a value of C$30.50 ($29.77) per Red Back share, The International Business Times reported. That%u2019s a premium of 17% over the price of Red Back shares at close of trading on the Toronto Stock Exchange on Friday.

When Americans Stop Shopping, the World Suffers

With the U.S. consumer economy in the doldrums, the impact is being felt globally. From China to Germany and Canada to Japan, America's major trading partners are struggling to adapt to a sudden decline in U.S. imports.

Fear of Higher Taxes Sends More Americans Abroad

Three times as many Americans renounced their citizenship in 2009 as in 2008, and so many are eager to do so for tax reasons, that in some U.S. embassies there's a waiting list to escape from the clutches of Uncle Sam.

Pharma Firms Biovail, Valeant Announce Merger

Valeant Pharmaceuticals International and Canadian drugmaker Biovail announced Monday they have agreed to merge. Upon the completion of the merger this year, Biovail stockholders will own 50.5% of the combined company and Valeant stockholders will own 49.5%.

U.S. Issues G-20 Travel Alert for Americans

Canada is footing a huge bill to host the G-8 and G-20 summits in Huntsville, Ontario and Toronto on June 25-27. Still, the U.S. has issued a travel alert for Americans traveling to Toronto, angering Canadians across the country.