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Technology SNC-Lavalin shares shoot up after Liberal election win

09:20  23 october  2019
09:20  23 october  2019 Source:   globalnews.ca

2 Montreal companies admit to making $115,000 in illegal donations to Liberals, Conservatives

2 Montreal companies admit to making $115,000 in illegal donations to Liberals, Conservatives Two Montréal-based companies have admitted to making illegal donations to the federal Liberal and Conservative parties totalling more than $115,000. The two firms, Group AXOR Inc. and Axor Experts-Conseils Inc., entered into compliance agreements with the commissioner of Canada Elections for having made the donations between 2004 and 2009. The firms were found to have donated $67,418.65 to the Liberal Party of Canada and $48,540.00 to the Conservative Party of Canada.

SNC - Lavalin Group Inc. shares shot up Tuesday after the Liberal election win left open the possibility of a plea deal on fraud and corruption The beleaguered company saw shares climb 13 per cent or .24 to .92 in early-afternoon trading, buoyed by investor hopes that the Liberal refusal to

SNC - Lavalin shares shot up 14 per cent the day after an Oct. 21 Liberal election win , which left open the possibility of a deferred prosecution agreement that would head off 1:02 Federal Election 2019: Trudeau says he’ll ‘always stand up for Canadian jobs’ on SNC - Lavalin issue. WATCH (Sept.

a person sitting on a bench in front of a sign: The beleaguered company saw shares climb 13 per cent or $2.24 to $19.92 in early-afternoon trading.© THE CANADIAN PRESS/Paul Chiasson The beleaguered company saw shares climb 13 per cent or $2.24 to $19.92 in early-afternoon trading.

SNC-Lavalin Group Inc. shares shot up Tuesday after the Liberal election win left open the possibility of a plea deal on fraud and corruption charges facing the engineering firm.

The beleaguered company saw shares climb 13 per cent or $2.24 to $19.92 in early-afternoon trading, buoyed by investor hopes that the Liberal refusal to close the door on a deferred prosecution agreement will play out to SNC's advantage ahead of a criminal trial.

READ MORE: Quebec premier says Bill 21 ‘must be respected’ as Trudeau Liberals form minority

Liberal election plane damaged in Victoria after media bus drives under wing

Liberal election plane damaged in Victoria after media bus drives under wing VICTORIA — Liberal Leader Justin Trudeau's election plane sustained some damage in Victoria after a media bus drove under one of its wings Wednesday night. The plane had just landed in the British Columbia capital after transporting Trudeau, his team and several journalists travelling with the campaign across the country for Day 1 of the federal election race. A bus was parked close to the plane to transport the journalists from the tarmac. As it departed, it drove under the wing of the plane, making a loud scraping sound as the top of the bus slowly dragged under the wing. Trudeau has a busy flight schedule planned for Thursday with stops in Kamloops, B.C.

The SNC - Lavalin affair was a political scandal involving attempted political interference with the justice system by the Prime Minister of Canada, Justin Trudeau, and the Prime Minister's Office (PMO).

Shares of SNC - Lavalin Group Inc. surged amid optimism Justin Trudeau’s election win may pave the way forward for the embattled engineering firm. 10, after Prime Minister Trudeau’s Liberal Party won a second term to lead Canada with a minority government. The company found itself in the middle of

Prof. Karl Moore of McGill University's Desautels Faculty of Management says the return of a Liberal government to Ottawa, albeit a minority, is "good" for SNC-Lavalin.

Analyst Chris Murray of Altacorp Capital says a resurgent Bloc Québécois, which more than tripled its seat count to 32, could fan hopes the new Parliament might work to help the Montreal-based multinational.

READ MORE: Trudeau takes selfies with commuters in Papineau after Liberal election victory

Attorney General David Lametti has refused to shut down the possibility of a remediation agreement with SNC. The company has seen its market value fall by roughly 60 per cent since January amid a political scandal in Ottawa, and faces an upcoming trial on charges of fraud under the Criminal Code and bribery under anti-corruption legislation.

SNC-Lavalin declined to discuss the government's intentions or comment on the ongoing court case.

Former SNC-Lavalin executive found guilty on Libya corruption charges .
A jury convicted former SNC-Lavalin executive Sami Bebawi, 73, on all five counts he was facing, which included fraud, corruption of foreign officials and laundering proceeds of crime. Crown prosecutors had alleged that Bebawi pocketed around $26 million as part of an elaborate scheme to bribe senior officials in dictator Moammar Gadhafi's regime. Bebawi's trial centred in particular on his interactions with Gadhafi's son, Saadi, who helped SNC-Lavalin secure lucrative contracts before the regime collapsed in 2011.More to come.

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