Credit card firm accuses Eaton's of violating agreement

Article Abstract:

T Eaton Company Ltd has been accused by National Retail Credit Services Co, which manages the former's credit card business, of violating terms of their deal in light of Eaton's dealing with Sears Canada Inc. Sears is poised to acquire as many as 13 Eaton's outlets and all its shares for C$50 million. Eaton wants that its protection under the Bankruptcy and Insolvency Act be shifted under the Companies' Creditors Arrangement Act to comply with a term of the Sears agreement.

Government regulation (cont), Data Processing Services, Credit Card DP Services, Department Store Chains, Credit card processing, T. Eaton Company Ltd.

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Hudson's Bay slashes dividend in half

Article Abstract:

Hudson's Bay Co, the Toronto, Ontario-based retail giant, has halved its quarterly dividend to C$0.09 cents a share as its Bay division continues to reel from weak profits and sales. The company reported a profit of almost C$40 million for 1998, but has decided to slash its dividend to preserve cash. Company president George Heller described the 1998 financial results as generally disappointing.

Sales, profits & dividends, Hudson's Bay Co.

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