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August 18, 1989 | From Reuters
A sweeping revamp of the Toronto stock exchange's rules was proposed Thursday, designed to attract more trade to the exchange--the same exchange that Wednesday was halted for an embarrassing three hours because of multiple computer failures. Stock exchange Vice President Jim Gallagher, speaking after a news conference to announce the proposals, was at pains to categorize the computer crash as an isolated incident.
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BUSINESS
June 10, 2013 | By Tiffany Hsu
Lululemon Athletica Inc.'s black yoga pants may have made a comeback after being recalled for being too sheer, but the same can't be said for the company's chief executive, Christine Day. Five and a half years after taking over the helm at the Vancouver, Canada, yoga wear brand, Day will step down once a replacement is found, Lululemon said in a statement Monday. Board members formed a search committee to find Day's successor but decided to announce her departure to ensure “a healthy transition period,” the company said.
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BUSINESS
January 24, 1991 | From Times Wire Services
The Toronto Stock Exchange closed down this morning as a result of a general power failure in the building where the market operates. Rose Roberts, a spokeswoman for the exchange, said the electricity was off between 10:48 and 11:02 a.m. Roberts said that details of the power failure were sketchy but that both the TSE and the Toronto Futures Exchange were closed. The TSE had opened down 0.4 points at 3,190.2 in active trading.
BUSINESS
May 27, 2013 | By E. Scott Reckard
Valeant Pharmaceuticals International Inc., Canada's largest publicly traded drug maker, is continuing an acquisition spree with an agreement to buy eye-care giant Bausch & Lomb Holdings Inc. for $4.5 billion. The Montreal company, which announced the deal Monday, said it also would pay $4.2 billion in debt owed by privately held Bausch & Lomb, a major manufacturer of contact lenses.   Calling Bausch & Lomb a “world-renowned brand,” Valeant's chairman and chief executive, J. Michael Pearson, said the deal would “transform Valeant into a global leader in eye health.” GALLERY: Biggest Southern California companies Valeant said it expects to squeeze out $800 million in annual cost savings by the end 2014 after merging Bausch & Lomb, which is based in Rochester, N.Y., with Valeant's much smaller eye-care operations.
BUSINESS
June 10, 2013 | By Tiffany Hsu
Lululemon Athletica Inc.'s black yoga pants may have made a comeback after being recalled for being too sheer, but the same can't be said for the company's chief executive, Christine Day. Five and a half years after taking over the helm at the Vancouver, Canada, yoga wear brand, Day will step down once a replacement is found, Lululemon said in a statement Monday. Board members formed a search committee to find Day's successor but decided to announce her departure to ensure “a healthy transition period,” the company said.
BUSINESS
July 26, 1991 | From Times Staff and Wire Reports
Quotron Target of Suits: Two Canadian stock exchanges filed lawsuits accusing Quotron Systems Inc., a major distributor of financial information, of misusing data provided by the exchanges. The Toronto Stock Exchange and Montreal Stock Exchange sought a total of $53 million in damages and restitution for alleged breach of contract and fraud in use of market data from 1985 to 1989.
BUSINESS
March 28, 1997 | From Times Wire Services
Canada's Toronto stock market, the country's largest, posted its biggest intra-day drop in almost a decade Thursday as shares in former market darling Bre-X Minerals Ltd. took a beating. The Toronto Stock Exchange's key 300 composite index plummeted 191.21 points to 5,931.63, its biggest loss since October 20, 1987, the day after so-called Black Monday, when it lost 220.90 points.
BUSINESS
April 1, 1997
Canadian mining company Bre-X Minerals Ltd. asked the Toronto Stock Exchange to halt trading of its shares until further tests resolve the furor over its claims about a huge gold discovery in Indonesia. A class-action lawsuit was filed in New York on behalf of Bre-X investors, alleging that its executives sold shares before serious questions over the gold find sent the stock into a nose dive. . . . Republic Industries Inc. said Chairman H.
BUSINESS
May 20, 1995 | From Times Staff and Wire Reports
Labatt Seeks White Knight to Fight Takeover: The Canadian brewing company vowed to fend off a hostile $1.7-billion takeover by conglomerate Onex Corp., saying it is talking to several parties and expects a better offer to emerge. John Labatt Ltd.'s board was huddled in Toronto, kicking off what analysts believe is a frantic search for a white knight.
BUSINESS
December 26, 1989 | From Times Wire Services
U.S. trading in the stock of Campeau Corp., which was halted Friday, did not resume today because the Toronto Stock Exchange was closed for a holiday, an official at the National Assn. of Securities Dealers said. Toronto-based Campeau disclosed Friday that its bankers believe it has technically defaulted on $2.34 billion in debt. The retailer's stock is traded on the Toronto exchange as well as on the U.S. over-the-counter market.
BUSINESS
June 29, 2011 | Reuters
The London and Toronto stock exchanges have abandoned plans for a $3.4-billion tie-up, leaving both in play in a world facing a wave of exchange consolidation. The failure of the bid from the London Stock Exchange for TMX Group opens the door to a hostile offer for the operator of the Toronto Stock Exchange from Canada's Maple Group consortium, a made-in-Canada alternative to a takeover that would have put a big domestic asset in foreign hands. It also turns the spotlight on the London Stock Exchange as a target as exchanges consolidate to grow and broaden their geographic reach, as well as to fight off rivals and new market entrants.
BUSINESS
January 15, 2009 | Associated Press
Nortel Networks Corp. spent years ringing up multiple rounds of layoffs as it tried to fix big problems in its business. But it couldn't ward off the recession. The telecommunications equipment maker filed for bankruptcy protection in Canada and the U.S. on Wednesday, becoming the first major technology company to take that step in this global downturn. The filing came a day before Nortel was due to make a debt payment of $107 million.
BUSINESS
October 26, 2000 | Bloomberg News
Canada's stock market had been the world's biggest star for much of this year. But the plunge in Nortel Networks shares Wednesday showed the dark side of buying into that market. Nortel, which late Tuesday reported slower-than-expected revenue growth in its fiber-optics business, lost nearly 30% of its market value Wednesday. And because Nortel had accounted for just under one-third of the Toronto Stock Exchange 300 index's total value, the plunge wreaked havoc with the Canadian market.
BUSINESS
July 13, 2000 | From Times Staff and Wire Reports
The hottest of the world's major stock markets this year is in a country better known for ice. The Toronto Stock Exchange's 300-share index surged 222.58 points, or 2.2%, to a record 10,572.85 on Wednesday, lifting its year-to-date gain to 25.7%. That dwarfs the gains recorded so far this year in other major world markets. Indeed, in the United States, the Nasdaq composite index on Wednesday just climbed back into positive territory for the year.
BUSINESS
April 20, 1999 | Bloomberg News
* The Nasdaq Stock Market may extend trading hours to 9 p.m. Eastern time as early as this summer, a spokesman for the screen-based market said Monday. Nasdaq trading hours for most stocks now start at 9:30 a.m. and end at 4 p.m. EST. Nasdaq's governing body formed a subcommittee last week that will create a proposal for expanded hours. The committee is scheduled to submit the proposal May 27 to the board of Nasdaq's parent, the National Assn. of Securities Dealers. The U.S.
BUSINESS
October 30, 1997 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
Wall Street on Wednesday took a well-earned breather from triple-digit market moves, as the Dow Jones industrial average rose a modest 8.35 points and trading volume ebbed by more than a third from Tuesday's overheated levels. But the modest overall move obscured the truth of what was, in fact, a highly volatile trading session, with the Dow industrials seesawing between a gain of nearly 123 points in the first hours of trading and a loss of 41.
BUSINESS
July 13, 2000 | From Times Staff and Wire Reports
The hottest of the world's major stock markets this year is in a country better known for ice. The Toronto Stock Exchange's 300-share index surged 222.58 points, or 2.2%, to a record 10,572.85 on Wednesday, lifting its year-to-date gain to 25.7%. That dwarfs the gains recorded so far this year in other major world markets. Indeed, in the United States, the Nasdaq composite index on Wednesday just climbed back into positive territory for the year.
BUSINESS
January 30, 1986 | MICHAEL A. HILTZIK
After a lengthy search with the aid of an executive headhunting firm, the American Stock Exchange said Wednesday that it has filled the eight-month vacancy in its presidency--by promoting from within. The Amex's new president is Kenneth R. Leibler, 36, who was previously the exchange's senior executive vice president for marketing, operations and finance. He succeeds Robert Birnbaum, who left last year to become president of the New York Stock Exchange.
BUSINESS
April 15, 1997 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Chevron closed at 63 7/8 on Monday, up 1 5/8, and Microsoft rose 2 3/8 to 97 3/8. If that sentence doesn't strike you as odd, blame the Spanish Empire. Almost alone in the world, U.S. stock exchanges quote stock prices in eighths. Just about everybody else uses the decimal system. Historians say the eccentric U.S. practice is a holdover from the 1700s, when Spanish gold was America's leading currency and you made change by physically breaking a dollar coin into eight equal slices, like a pie.
BUSINESS
April 1, 1997
Canadian mining company Bre-X Minerals Ltd. asked the Toronto Stock Exchange to halt trading of its shares until further tests resolve the furor over its claims about a huge gold discovery in Indonesia. A class-action lawsuit was filed in New York on behalf of Bre-X investors, alleging that its executives sold shares before serious questions over the gold find sent the stock into a nose dive. . . . Republic Industries Inc. said Chairman H.
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