Technology: SNC-Lavalin shares shoot up after Liberal election win - - PressFrom - Canada
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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.

MONTREAL -- 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 against the engineering firm. The beleaguered company's shares closed up nearly 14 per cent or .44 at .12, buoyed by investor

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

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

Federal election campaign to officially kick off Wednesday

Federal election campaign to officially kick off Wednesday Prime Minister Justin Trudeau will officially kick off the federal election campaign with a visit to Rideau Hall at 10 a.m. ET Wednesday, Liberal sources have told CBC News. Trudeau will formally ask Gov.-Gen. Julie Payette to dissolve Parliament, setting the stage for Canada's 43rd general election on Oct. 21. The Liberals are seeking a second four-year mandate, citing the party's accomplishments on child poverty, job creation and Indigenous relations while beating back criticism over the SNC-Lavalin ethics breach.

MONTREAL — 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 .24 to .92 in early-afternoon trading

MONTREAL — 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 .24 to .92 in early-afternoon trading

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.

Five things to watch for in the Canadian business world in the coming week .
Five things to watch for in the Canadian business world in the coming week :Aimia update Aimia Inc. will release its third-quarter results after the close of trading on Monday and hold a conference call with investors on Tuesday morning. Mittleman Brothers LLC — Aimia's largest investor — recently expressed tentative support for board nominees put forward by a group of dissident shareholders amid an ongoing fight with the loyalty company.RBI earningsRestaurant Brands International Inc. will report third-quarter results and hold an investor conference call on Monday.

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