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report on business
Stronachs resolve five-year court battle over alleged mismanagement of fortune
Magna Chairman Frank Stronach speaks at his final AGM in Markham, Ont. on Wednesday, May 4, 2011.The granddaughter of billionaire businessman Stronach is asking an Ontario court to order the family business to disclose any documents that might exist related to complaints of sexual misconduct against him and settlements involving complainants. THE CANADIAN PRESS/Frank Gunn
report on business
Magna International cuts sales outlook as carmakers scale back EV plans
Magna International Inc. logo is seen prior to the company's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
opinion
I had sex with Frank Stronach when I was 19. I’ve wrestled with its meaning ever since
Jane Boon
report on business
Auto parts maker Magna International signs strategic partnership with Sanctuary AI
A Magna logo is shown in Milton, Ont. on Saturday, March 24, 2023. THE CANADIAN PRESS/Staff
international business
GM, Magna and Wipro team up to create automotive software marketplace
FILE PHOTO: The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo
report on business
Auto parts company Magna International announces share buyback plan
FILE PHOTO: Magna logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay/File Photo
inside the market
Nine Canadian fund managers offer their top picks and portfolio advice for 2024
Despite a down year a sign board displays the TSX's upbeat close on the final day of the year, in Toronto's financial district on Monday, Dec. 31, 2018. THE CANADIAN PRESS/Frank Gunn
report on business
Canadian companies diverge on diversity disclosures, with no fix in sight
Partner and corporate governance chair, Gordon G. Raman, poses for a photograph at Fasken offices in Toronto, Wednesday Nov. 29, 2023. (Christopher Katsarov/The Globe and Mail)
report on business
Unifor, Magna resume bargaining after strike at seating plant in Windsor, Ont.
A Magna logo is shown in Milton, Ont. on Saturday, March 24, 2023. THE CANADIAN PRESS/Staff
report on business
Magna CEO says U.S. auto workers’ strike cost the company US$310-million in sales
Magna International Inc. logo is seen prior to the company's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
report on business
Magna joint venture in Michigan lays off 650 workers as UAW strike widens
Electric vehicle battery trays are milled while at Magna's Heart Lake production facility, where they are currently manufacturing battery enclosures for Ford F-150s, in Brampton, Ont., Thursday Aug. 3, 2023. (Christopher Katsarov/The Globe and Mail)
report on business
Magna raises full-year sales forecast for fiscal 2025 on back of sustained demand
Magna International Inc. logo is seen prior to the company's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
report on business
Magna reverses loss in second quarter, hikes forecasts as global auto production rebounds
FILE PHOTO: Magna logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay/File Photo/File Photo
report on business
Magna to invest more than US$790-million to build three new facilities for electric parts
A general view of Magna's annual general meeting in Toronto on May 10, 2013.
rob magazine
Why Martinrea looks shiny next to its much larger auto parts rivals
An engine block on display at the Martinrea International head office in Vaughan, Ont., is photographed on Wednesday, April 14, 2021.
inside the market
Monday’s analyst upgrades and downgrades
Employees at Magna Closures Dortec Industries in Markham Feb 19, 2013. in one word: China. The Magna International Inc. plant in Newmarket, Ont., had been around since 1985, making door latches for cars, trucks and minivans. Latches take a lot of work to put together, they're easy to package and can be easily shipped anywhere around the world, so Magna's customers wanted the Canadian auto parts giant to open a plant in China to keep costs in check. Magna complied with the requests and opened a latch plant in Kunshan in 2001. But it kept Dortec open as well. The boom in North American auto production in the first half of the 2000s ensured there was enough work to go around, and the plant was even able to generate higher profits than the average Magna factory. By 2006, however, the business was being battered by soaring commodity prices and demands by the auto makers for price cuts. Executives at Magna Closures Inc., which oversees both the Newmarket and China operations, turned for help to a retired Toyota Motor Corp. vice-president to teach the company how to develop a first-rate manufacturing system. Seven years later, Dortec is at the head of the class. It is also defying the notion that low-cost countries have sounded the death knell for manufacturing in Canada - so much so that side-door latches assembled in Newmarket are shipped from "high-cost" Canada to auto makers in China, Thailand and other low-cost regions.(Moe Doiron/The Globe and Mail)
report on business
Magna International reports Q1 profit down from year ago, sales up 11 per cent
General view of Magna's annual general meeting in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
opinion
Magna executives pay no price for Russian misadventure
David Milstead
report on business
Magna CEO’s compensation grows to US$28-million owing to ‘transformational’ stock grant
Magna Names Seetarama (Swamy) Kotagiri Chief Executive Officer
report on business
Magna to invest more than $470-million to expand operations across Ontario
A general view of Magna's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette