U.S.-traded shares in Waterloo, Ontario-based BlackBerry Ltd. ended Wednesday up 4 cents at $8.54. puts new restrictions for bars, restaurants, LIVE: Quebec Health Minister update on COVID-19. In addition to its equity stake, Fairfax has C$500 million ($459 million) in BlackBerry debentures, convertible at $10 a share into BlackBerry stock, after taking the lead in a debt offer after the buyout talks fell through. While Watsa is optimistic on BlackBerry, he takes a dim view of the stock market's prospects overall, maintaining hedges on Fairfax's equity holdings as he sees potential for the U.S. economy to fall into deflation, citing the country's huge debt load and the danger of a property collapse in China. BlackBerry's employees prepare the launch event for the company's new smartphones in London on Wednesday, Jan. 30, 2013. BlackBerry® Limited stock quote data provided is for informational purposes only, and is not intended to be relied on or used for trading, business or financial purposes. Fairfax head Prem Watsa has been one of BlackBerry's strongest supporters in recent months, leading the charge to drum up financial support and playing a role in the hire of Chen. It posted a net loss of $573 million last year as stock markets rallied. But Watsa maintains Fairfax is not geared to produce strong profits on a quarter-to-quarter basis, but is focused instead on long-term results. | High-quality Products, Charles Barkley, Shaquille O'Neil draw backlash for pushing back on Breonna Taylor outrage, Teen charged in Kenosha shootings fights extradition, Exotic dancers' PSA targeting Black male voters praised by activist: ‘It speaks volumes’, A must-read to learn and be inspired by example, Three men are accused of creating 'man cave' under Grand Central station, Global $21.61 Billion Geosynthetics Market Size, Share & Trends Analysis & Forecasts, 2016-2019 & 2020-2027, PHOTOS: Justice Ruth Bader Ginsburg — A look back, New Senior Living Apartments Near New York, 'America's Got Talent' Winner Brandon Leake Will Not Receive $1 Million, Eerie figure spotted in the background of woman’s TikTok video: 'You can see someone crawling', Bill Murray gets legal threat from Doobie Brothers for using song to sell 'ugly' shirts, Barbara Lagoa: 5 things to know about Trump's potential Supreme Court nominee, Ruth Bader Ginsburg’s trainer performs push-ups to pay homage to the Supreme Court justice, MPLX LP to Announce 2020 Third-Quarter Financial Results Nov. 2, Must Read Resources for Retailers & Restauranteurs, Louisville police major on antifa and BLM: 'They will be the ones washing our cars', Heroic Dad Gets Fired from 2 Jobs After Shielding His Kids in Bronx Car Dealership Shooting.
The CEO announced last month that BlackBerry is entering into a five-year partnership with Foxconn, the Taiwanese company that assembles products in vast factories in China. Canada's Most Trusted News. The move, announced Wednesday, comes after BlackBerry (TSX:BB) shares had a strong start to the year, gaining more than 15 per cent since the end of 2013. Fairfax Financial has withdrawn its $4.7-billion offer to buy BlackBerry Ltd., but is part of a new $1-billion investment plan for the troubled smartphone maker as it restructures. Fairfax President Paul Rivett told The Associated Press on Wednesday that the investment signals Fairfax's confidence in new chief executive John Chen, who took over in November in a management shake-up that coincided with Fairfax's increased investment. The insurance and investment firm invested $250 million as part of that initial deal, which gave it an option to make an extra $250 million investment before a Monday deadline.
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