Jun 11 2019 — Christopher Reynolds, The Canadian Press — The Canadian Press — MONTREAL — Neil Bruce's tenure as CEO of SNC-Lavalin Group Inc. came to an end Tuesday, capping off a near four-year stint marked by a 42 per cent plunge in share price and a political controversy tied to an ongoing corruption case. Bruce, 58, will be succeeded on an interim basis by chief operating officer Ian Edwards, effective immediately. […]
Jun 7 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — SNC-Lavalin Group Inc. is pushing back its decision on whether to opt for a trial by jury or by judge alone in a corruption case that has tripped up the engineering giant and ensnared it in a political controversy for months. "I need more time to make the choice. It has to be […]
May 29 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — A Quebec judge has ruled there is enough evidence to send SNC-Lavalin Group Inc. to trial on charges of fraud and corruption, surprising few and prompting a further tumble in the beleaguered firm's share price. "Given the threshold to be met by the prosecution at the stage of the preliminary inquiry, this outcome was expected," said SNC-Lavalin […]
May 25 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — It was 50 years ago today, John and Yoko told the band to play. The week-long bed-in that saw a pyjama-clad John Lennon and Yoko Ono host a parade of journalists, LSD gurus, counterculture luminaries and hangers-on in their Montreal hotel suite kicked off on May 25, 1969, and culminated in the on-site recording of […]
May 2 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — Shares in SNC-Lavalin Group Inc. hit a 10-year low Thursday after the company announced plans to wind down its operations in 15 countries and reported a $17-million loss in its latest quarter. The stock closed down $4.48, or 13.13 per cent, at $28.97 Thursday. "We will stop bidding on certain projects, certainly within the mining area," CEO […]
Apr 20 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — Canadian Armed Forces are deploying in three regions across Quebec, officials say, as rising water levels continue to wreak havoc on the province after claiming a life. About 200 soldiers were poised to start filling sandbags and carrying out evacuations in the Outaouais and Mauricie regions Saturday night, with 400 more troops set to […]
Apr 11 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — It was a sunny Wednesday in March, and Neil Bruce was making his case for why SNC-Lavalin Group Inc. deserved a negotiated settlement over corruption charges tied to alleged dealings in Libya. After spending six weeks in the eye of a political storm over the actions of top government officials who had pushed to […]
Apr 5 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — SNC-Lavalin Group Inc. has signed a deal to sell the bulk of its stake in Ontario's 407 toll highway operator for $3.25 billion, some of which will go toward a loan from Quebec's pension fund. The OMERS pension plan will buy a 10.01 per cent stake in 407 International Inc., reducing SNC-Lavalin's interest to 6.76 […]
Mar 14 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — Canada's largest airline was inundated with calls as travellers scrambled to rebook flights after Ottawa joined dozens of countries in grounding the Boeing 737 Max 8 aircraft Wednesday. Calls to Air Canada's customer service line Wednesday and Thursday prompted a recording that said call volume has temporarily exceeded the company's capacity to answer or […]
Mar 13 2019 — Christopher Reynolds, The Canadian Press — The Canadian Press — MONTREAL — Sunwing Airlines is temporarily grounding its four Boeing 737 Max 8 aircraft in the wake of the Ethiopian plane crash that killed all 157 people on board. The Canadian low-cost airline says in a statement Tuesday night that it made the decision for "evolving commercial reasons" unrelated to safety, including airspace restrictions being […]
Mar 11 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — Transport Minister Marc Garneau said he would board "without hesitation" the type of aircraft that crashed in the Ethiopian Airlines tragedy on Sunday, stressing his confidence in the new plane. Garneau's remarks came minutes after a statement from the Air Canada Pilots Association that called on the minister "to take proactive action to ensure the safety […]
Mar 7 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — As a scandal surrounding SNC-Lavalin Group Inc.'s lobbying efforts to avoid criminal charges continues to plague the federal government, it remains unclear exactly what a conviction would mean for the company. The engineering and construction giant is facing criminal prosecution over alleged bribes to Libyan government officials while pursuing business in that country. Under the current […]
Feb 13 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — The woes won't stop piling up for SNC-Lavalin Group Inc. Debt rating agency Standard & Poor's downgraded the company Tuesday, citing diplomatic tensions and criminal charges against the beleaguered engineering giant as among the financial headwinds buffeting a firm now swept up in a political firestorm. A pair of slashed profit forecasts from SNC-Lavalin in the past […]
Feb 12 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — Quebec prosecutors are working with the RCMP on the possibility of new criminal charges against SNC-Lavalin tied to a contract to refurbish Montreal's Jacques Cartier Bridge, court documents show. In December, Quebec court approved a request by prosecutors to retain until June thousands of documents seized by the RCMP in connection with an investigation […]
Jan 21 2019 — Christopher Reynolds, The Canadian Press — MONTREAL — The country's transportation ministers have agreed to develop an entry-level national training standard for semi-truck drivers. Federal Transport Minister Marc Garneau said the minimum bar to get behind the wheel of a semi truck will ensure truckers have the necessary skills, and will be in place by January 2020. "We are motivated by the need […]