RIM extends buyout offer as Certicom fights back

Research In Motion Ltd. said Wednesday it would extend the deadline for its bid to take over Certicom Corp. as the corporate fight between the two Canadian technology companies heads to court.

RIM, maker of the popular BlackBerry mobile communications device, said it will push the expiry date for its $1.50-a-share offer for Certicom until Jan. 27. The original bid was scheduled to lapse on Jan. 12.

Certicom, however, launched a legal action in Ontario Superior Court to stop the takeover. That proceeding is scheduled to be heard on Jan. 9.

RIM extends buyout offer as Certicom fights back

Research In Motion Ltd. said Wednesday it would extend the deadline for its bid to take over Certicom Corp. as the corporate fight between the two Canadian technology companies heads to court.

RIM, maker of the popular BlackBerry mobile communications device, said it will push the expiry date for its $1.50-a-share offer for Certicom until Jan. 27. The original bid was scheduled to lapse on Jan. 12.

Certicom, however, launched a legal action in Ontario Superior Court to stop the takeover. That proceeding is scheduled to be heard on Jan. 9.

RIM extends buyout offer as Certicom fights back

Research In Motion Ltd. said Wednesday it would extend the deadline for its bid to take over Certicom Corp. as the corporate fight between the two Canadian technology companies heads to court.

RIM, maker of the popular BlackBerry mobile communications device, said it will push the expiry date for its $1.50-a-share offer for Certicom until Jan. 27. The original bid was scheduled to lapse on Jan. 12.

Certicom, however, launched a legal action in Ontario Superior Court to stop the takeover. That proceeding is scheduled to be heard on Jan. 9.

The year in Money

Oilexco shares wilt as subsidiary faces insolvency

Shares of Oilexco Inc., already battered as the price of oil has fallen, dropped 75 per cent in Wednesday morning trading on the TSX after the company said its main subsidiary is insolvent.

Oilexco shares were off 67 cents at 22 cents. The stock had a one-year high in June of $19.50.

The Calgary-based company said early Wednesday that its wholly owned subsidiary, Oilexco North Sea Limited, intends to file petitions for administration — a form of creditor protection — in the High Court in the United Kingdom. Oilexco said the filing could be made as soon as early next week.

CN, CPR told to pay $68M for exceeding revenue caps

Since 2000, Ottawa has limited what CN and CPR can earn from moving western grain to port.(CBC)

Canada's two main railway companies have been ordered to pay about $68 million after taking in too much revenue moving western grain.

U.S. jobless claims plunge unexpectedly

The number of Americans filing for unemployment benefits fell below 500,000 for the first time since November, according to new figures released Wednesday, a positive economic sign for the United States that has some analysts scratching their heads.

The initial jobless claims for the week ended Dec. 27 across the U.S. plunged by 94,000 to 492,000. That drop was far larger than the 11,000 reduction economists had predicted.

The number of people asking for public unemployment benefits has generally risen since the last time the figure was less than 500,000, the week ended Nov. 1, and has been viewed as a sign of the deteriorating economy in the U.S.