Several German investors in K+S AG are increasingly losing patience with the management’s rejection of a takeover approach from rival Potash Corp. of Saskatchewan, as the recent drop in commodity prices makes a deal more appealing.
CIBC downgraded automate submission distribution-parts giant Magna International to sector perform from sector outperform and cut its target price to $52 from $62.50 in the wake of the Volkswagen emissions scandal. CIBC notes that while Magna doesn’t make diesel engines, it does make parts used in some Volkswagen vehicles and any slowdown in the car-maker’s sales could slow earnings growth for Magna.
Hillary Clinton on Tuesday said she opposes TransCanada’s long-disputed Keystone XL pipeline and sees it as a “distraction from the important work we have to do to combat climate change.” TransCanada didn’t specifically reply to the Democratic presidential candidate’s comments, but said: “Our focus remains on securing a permit to build Keystone XL.”
WestJet Airlines said it has named Harry Taylor as chief financial officer. It said Mr. Taylor joins the company from retailer Canadian Tire, where he was most recently senior vice-president, finance.