Here are five things you need to know this morning
Barrick explores spinoff: It looks like more major changes are on the way for gold giant Barrick Mining. The Toronto-based company is exploring an initial public offering of its North American gold assets. If it goes ahead, the spinoff would be anchored by Barrick’s mines in Nevada and the Dominican Republic, and Barrick would retain a majority interest in the spinoff. The move comes amid reports Barrick is being pressured by investors to shake up the company. Barrick has had setbacks such as rising costs in North America, losing control of a key mine in Mali that was seized by the military junta and the sudden departure of Mark Bristow as chief executive officer in September. Interim CEO Mark Hill is already bringing changes — shaking up management and the regional operating model — in a bid to improve performance.
Bitcoin falls again: The price of bitcoin is under pressure again today, bringing new momentum to a wide-ranging selloff of cryptocurrencies that appeared to have settled. Bitcoin fell by more than four per cent in early trading, falling below US$85,000. The crypto market has faced weeks of selling that began when about US$19 billion in levered bets were wiped out in October, just days after bitcoin set an all-time high. The original cryptocurrency shed nearly 17 per cent of its value in November but it started regaining ground last week.
Péladeau seeks shakeup at Air Transat: One of the biggest names in Quebec business is pushing for changes at Air Transat. Financière Outremont, a firm held by Pierre Karl Péladeau, has requested a special meeting of Transat’s holders, at which it intends to call for the board to be reduced to six directors and to nominate three new members. Peladeau’s firm is calling for restructuring of the company’s balance sheet and for initiation of review including an assessment of strategic direction, capital allocation, senior management, cost structure, investments and financing, strategic partnerships and strategic alternatives. Outremont says its proposals to improve the company have been “consistently rebuffed” by the board. Péladeau holds investment of about 9.5 per cent economic and voting interest in Transat.
Allied Properties slashes distribution: Allied Properties REIT has cut its monthly distribution to unit holders by 60 per cent. The Toronto-based office space developer says it has reduced its debt within the last two years with the sale of non-core assets —a process that will continue into 2026. Debts incurred were in part from completing the last of its development projects.
Trouble at Airbus: Airbus has disclosed a quality issue on some fuselage panels on its A320 airliner that require inspections — two days after flagging a software glitch on about 6,000 jets that needed emergency upgrades. The Paris-based company says the source of the latest issue has been identified and contained, and newly produced panels conform to all requirements.
