Business News Advisory – CP

Source: The Canadian Press
Oct 15, 2015

THURSDAY, OCT. 15, 2015

BUSINESS NEWS ADVISORY

Here are the CP Business Department’s early plans for today. All
times Eastern unless otherwise stated. Entries are subject to change
as news develops. If you have any questions, please don’t hesitate
to email Business Editor Lee-Anne Goodman at
lee-anne.goodman?thecanadianpress.com, or the department at
business?thecanadianpress.com. We can also be reached at
416-507-2138.

COVERING

Craig Wong in Ottawa will have story on the CREA housing market stats

Ross Marowits in Montreal will have more on Valeant being subpoenaed over patient assistance program, distribution and pricing in the U.S.

David Paddon in Toronto will more on the Linamar making a play for French counterpart Montupet SA in a friendly takeover offer valued at C$1.16 billion.

TOP NEWS

Valeant subpoenaed over patient assistance program, pricing

Valeant-Investigated

NEW YORK _ Valeant Pharmaceuticals says that U.S. federal prosecutors in two states are seeking information on its drug pricing, distribution and patient assistance program. The Quebec-based company _ Canada’s largest publicly traded drug maker _ said late Wednesday that it had recently received subpoenas from the U.S. Attorney’s offices in Massachusetts and New York. Will be updated.

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Linamar bids to take over Montupet

Linamar-Montupet-Takeover

GUELPH _ One of Canada’s largest autoparts companies is making a play for French counterpart Montupet SA in a friendly takeover offer valued at C$1.16 billion.Linamar Corp. of Guelph, Ont. says the acquisition would be a significant step in its strategy of becoming a global leader in making aluminum components for the automotive sector. Will be updated.

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Finance watching shadow lenders: documents

Unregulated-Mortgage-Lenders

TORONTO _ Government documents obtained by The Canadian Press suggest the Finance Department is keeping close tabs on shadow mortgage lenders, a fast-growing segment of the market that could threaten the country’s financial stability if left unregulated. Documents obtained through an Access to Information request indicate the unregulated mortgage market was among the topics discussed at a November meeting between Finance officials, the Bank of Canada, the Canada Mortgage and Housing Corporation and other key players. 450 words. By Alexandra Posadzki. Moved at 4 a.m.

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CBDC releases Diversity 50 list for 2015

Diversity-Corporate-Boards

TORONTO _ A leading voice in the fight to get more women and minorities on corporate boards in Canada has published its latest list of what it describes as “highly qualified candidates.” The Canadian Board Diversity Council says its “2015 Diversity 50 cohort” includes eight men and 42 women, six of whom currently serve on FP500 or Fortune 500 corporate boards. Moved Business and National. Moved at 4 a.m.

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Consider more than just mortgage rate

Money-Monitor

OTTAWA _ Mortgage rates are near record lows, but brokers want you to look beyond the rate you’re being offered when shopping around for a loan to buy your home and understand how much it will cost you to break your mortgage.Divorce, a desire for a new and bigger home or an opportunity to move to a new city for a new job, all may prompt you to want to end a five-year mortgage early and the penalty you must pay can vary depending on the kind of mortgage you have and your lender. By Craig Wong. 550 words. Moving shortly.

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Canadian dollar, index futures up slightly

Dollar-Markets

TORONTO _ The Canadian dollar and U.S. index futures were slightly positive before the North American stock market open. The loonie was up 0.01 of a cent at 77.40 cents US. Will be updated.

CALENDAR

OTTAWA _ Telecom equipment supplier DragonWave Inc. holds a second-quarter earnings conference call. Dial 1-877-312-9202 FREE or go to http://investor.dragonwaveinc.com/events.cfm for the webcast. (8:30 a.m.)

OTTAWA _ Statistics Canada releases investment in non-residential building construction (third quarter), trends in offences against the administration of justice for 2013 and a study on social assistance receipt among refugee claimants in Canada (1999 to 2013). (8:30 a.m. at www.statcan.gc.ca)

ESSEX, Ont. _ Unifor National Economist Jim Stanford holds an open forum on the impacts of the Trans-Pacific Partnership on Canada’s auto sector. (1:30 p.m. at 60 Fairview Avenue West, Shaheen Community Room)

CALGARY _ Philanthropist and entrepreneur W. Brett Wilson will receive an honorary Bachelor of Science degree during the convocation ceremonies at SAIT. (1 p.m. at SAIT Polytechnic)

PRINCE GEORGE, B.C. _ The provincial government is holding a series of regional meetings to get feedback on a plan to preserve the unique ecosystems of the Ancient Forest. (4:30 p.m. at Prince George Civic Centre, 808 Canada Games Way)

VANCOUVER _ 2015 International LNG in BC Conference; “Clean Energy. Reliable Partner.” Keynote speeches from Woodside Energy CEO Peter Coleman and Natural Gas Development Minister Rich Coleman (9 a.m.-9:45 a.m.). Other speakers include Jobs Minister Shirley Bond (1:45 p.m.), Aboriginal Relations and Reconciliation Minister John Rustad and Fort St. John Mayor Lori Ackerman. Go to http://lngconference.ca/speakers/ for a full list of speakers. Through Oct. 16. (Vancouver Convention Centre, 1055 Canada

THE CANADIAN PRESS

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