Magna International

Are the Russian Oligarchs Running Out of Cash?

The Wealth Report (Free subscription) | 10/06/2008

If there was a silver lining in the financial crisis it was the Blingsheviks–the billionaire Russians who could be counted on to overpay and flash their cash even as the rest of the world crashed. They bought big real-estate spreads in the U.S. and Europe, built the biggest yachts , hosted the most expensive parties and scooped up the trendiest art . If conspicuous consumption was on its last legs...

CANADA: Lender calls in 20m Magna shares

Just Auto (Free subscription) | 10/06/2008

A lender to a wholly-owned subsidiary of Magna International shareholder Russian Machines has sold the 20m Magna shares pledged as security for the finance obtained by Russian Machines for its 20 September, 2007 investment in Magna.

Financial headlines: VW may want part of federal loans

Detroit Free Press (Free subscription) | 10/04/2008

Volkswagen AG, the German automaker building an assembly plant in Tennessee, may seek access to the $25 billion in low-interest federal loans approved by Congress last week. ALSO: Delphi replaces CFO as Dellinger leaves; GM to close Ohio plant a year early; Russian must yield stake in Magna; AIG to sell off several units to repay loan; Exports, deliveries strong in September.

Crisis takes toll on oligarch Deripaska

Financial Time (Free subscription) | 10/04/2008

Oleg Deripaska became the first Russian oligarch to be publicly hit by the global financial crisis yesterday after he was forced to divest his 20 per cent stake in...

Russian magnate dumps Magna shares to pay debt

CBC.ca (Free subscription) | 10/04/2008

Russia's wealthiest man has been forced to dump his 20 per cent stake in Magna International after creditors squeezed his cash-strapped car-making subsidiary, Magna said Friday.

• Russian investor Deripaska backs out of Magna - The Earth Times Online Newspaper
• Crisis takes toll on Deripaska - Financial Time
• See the 11 articles on the same subject

Credit crisis hits Russian markets, Dutch bank

CBC.ca (Free subscription) | 10/03/2008

The Dutch government took over a major bank Friday, while Russian markets ended a chaotic week with big losses and halts ordered by regulators.

• Credit crisis hits Russian markets, Dutch bank - Russia News Net

Friday Options Update: MGA, WB, C, WFC, JPM, NWA, AMT

Seeking Alpha (Free subscription) | 10/03/2008

Rebecca Engmann Darst contributed to this report Magna International (MGA) –Shares in this auto-parts supplier are lower by 10.75% at $40.75 and today we’re showing volume above the typical daily average. Some 17,445 lots are in play and focused at the December 45 and 55 strike puts. The story is interesting at the very least. Today news of the abandonment of a $1.54 billion investment by a Russian...

Russian Mogul Gives Up Magna Stake

Law Blog - WSJ.com (Free subscription) | 10/03/2008

Russian businessman Oleg Deripaska has been forced to sell a 20% stake in Canadian car-parts maker Magna International to creditors.

MI Developments announces resignation of Director

PR News Wire (Free subscription) | 09/29/2008

AURORA, ON, Sept. 29 /PRNewswire-FirstCall/ - MI Developments Inc. (MID) (TSX: MIM.A, MIM.B; NYSE: MIM) today announced that Mr. John Barnett has resigned from its Board of Directors, effective immediately. Mr. Barnett stated, "I have enjoyed my association with MI Developments, but must now turn my attention to ensuring the orderly integration of Rothmans Canada with Philip Morris given the recently-announced...

MBF Financial: Analyst Reports for AmerisourceBergen Corporation, Medco Health Solutions Inc., Magna International Inc. and Compañía de Minas Buenaventura S.A.A.

Market Wire - Investment Opinion (Free subscription) | 09/17/2008

LONDON (MARKET WIRE) MaybachFinancial.com is one of the fastest growing independent and unbiased research firms in the world. Through our numerous partnerships with many of the top investment minds in the world, we provide research on companies making a move in the markets. Investors seeking genuine analyst opinions on their investments for AmerisourceBergen Corporation (NYSE: ABC), Medco Health Solutions...

Loans tighten reins on racetrack firm

atHome Top Story (Free subscription) | 09/16/2008

Magna Entertainment Corp. has bought more time again so it can find money or reorganize to stay alive.

North American Palladium Ltd.: North American Palladium Announces New CEO

Market Wire (Free subscription) | 09/15/2008

TORONTO, ONTARIO (MARKET WIRE) North American Palladium Ltd. (TSX: PDL)(TSX: PDL.WT)(AMEX: PAL)(AMEX: PAL.WS) today announced that its Board of Directors has named William J. Biggar as the Company's President and Chief Executive Officer effective October 1, 2008. Mr. Biggar will also join the Company's Board of Directors.

Maxim’s hottest politicians: Ruby Dhalla 3rd, Belinda Stronach 6th (Jerad Gallinger)

Progressive Bloggers (Free subscription) | 09/11/2008

This is almost as bad as that time I linked to Us Magazine. Brampton–Springdale MP Ruby Dhalla has been ranked third by Maxim Magazine in its list of the hottest women politicians in the world. Dhalla’s top-three showing places her just behind upstart hottie and Republican VP nominee Sarah Palin. Here’s Dhalla’s write-up: 3. Ruby Dhalla, Canada Position: Member [...]

Fiat 500 convertible exposed

SAMAR (Free subscription) | 09/10/2008

These are some spy shots of the soon-to-be-launched Fiat 500 convertible. The new version of the Italian company’s hot-selling runabout is expected to hit showrooms next year.

AXMIN Inc.: AXMIN Appoints Alex Dann Chief Financial Officer

Market Wire (Free subscription) | 09/08/2008

TORONTO, ONTARIO (MARKET WIRE) AXMIN Inc. (TSX VENTURE: AXM) announces the appointment of Mr. Alex Dann as Vice-President, Finance and Chief Financial Officer of the Company.