Former Enron CEO Jeffrey Skilling settles 17-year-old suit over company collapse

Former Enron CEO Jeffrey Skilling settles 17-year-old suit over company collapse

Less than two months after leaving prison, former Enron chief executive officer Jeffrey Skilling settled a 17-year-old lawsuit claiming he helped defraud a Canadian investment firm with the promotion of the defunct energy company’s securities as it headed toward collapse. SilverCreek Management Inc., a Toronto-based investment firm that bought Enron-issued bonds in October 2001, sued […]

HBC president Alison Coville to step down, company says

HBC president Alison Coville to step down, company says

Alison Coville, the president of iconic retailer Hudson’s Bay, is stepping down. Hudson’s Bay Co., its Toronto-based parent company which also owns Saks Fifth Avenue and Lord and Taylor stores, did not give a reason for Coville’s departure. A release from HBC says Coville’s exit will be effective Mar. 1 and that the company will […]

GTA Deciem stores reopen after company founder is ousted

GTA Deciem stores reopen after company founder is ousted

Deciem stores that had been shuttered for several days reopened on Saturday, after the founder of the so-called “Abnormal Beauty Company” was ousted by an Ontario court ruling. The stores were closed last week by decree of then-chief executive Brandon Truaxe, who announced on Instagram that all Deciem operations would be shutting down until further […]

Canadian hyperloop company threatens to relocate unless government supports innovation

Canadian hyperloop company threatens to relocate unless government supports innovation

By The Canadian Press Fri., June 29, 2018 MONTREAL—A Canadian hyperloop company is threatening to relocate its headquarters to Europe unless it gets political support at home for the implementation of its technology that would transport goods and passengers through tubes at airplane speeds. Transpod CEO and co-founder Sebastien Gendron says politicians need to step […]

Court monitor to review Sears Canada payout of dividends while company was in the red

Court monitor to review Sears Canada payout of dividends while company was in the red

Handsome dividends paid to Sears Canada shareholders even as the company was faltering and its employee pension fund was running a deficit are being reviewed by the court-appointed monitor handling the company’s insolvency. “The monitor is carrying out a review of certain material transactions,” according a new report on the insolvency by the monitor, FTI […]

U.S. drug company founder charged with bribing doctors to prescribe addictive opioid

U.S. drug company founder charged with bribing doctors to prescribe addictive opioid

The founder of U.S. drug company Insys Therapeutics has been charged with leading a nationwide conspiracy to bribe doctors and pharmacists to widely prescribe an opioid cancer pain drug for people who didn’t need it.  John N. Kapoor was charged along with group of his colleagues on Thursday with pushing prescriptions for the highly addictive drug. It was […]

Hudson’s Bay CEO Jerry Storch leaving company

Hudson’s Bay CEO Jerry Storch leaving company

Jerry Storch is stepping down as chief executive of Hudson’s Bay Co., the retailer announced after the close of stock markets on Friday. Storch will depart effective Nov. 1 and return to his firm, Storch Advisors, HBC said in a release. Richard Baker, HBC’s governor and executive chairman, who had previously served as CEO, will reassume the role […]