Allstream chief exits
The president of Allstream, the MTS division that operates a national business fibre-optics network, is stepping down.
Dean Prevost joined Allstream's predecessor company, AT&T Canada Enterprises in 1997 and held a variety of senior positions before becoming president.
Michael Strople, currently Allstream's chief operating officer, has been named the new president.
In a prepared statement, MTS CEO, Pierre Blouin said, "Dean has been a driving force behind Allstream's evolution to become a leader in the Canadian business."
He said Strople brings a "track record of success in both executive and operational roles across the telecommunications industry and has been a key player in Allstream's successful strategy over the past few years."
Big trust sells shares
MONTREAL -- The estate of Paul G. Desmarais and the Desmarais Family Residuary Trust reduced their stakes in Power Corp. of Canada on Tuesday, selling nearly 15.5 million shares in an estate-planning move.
The liquidators and trustees of the estate and the family trust said they sold 15,461,750 subordinate voting shares of Power Corp. of Canada and 87,318 shares of Great-West Lifeco Inc.
Based on the companies' share prices Tuesday, the sale would have totalled about $480 million.
The estate and trust still hold or control, directly and through wholly owned holding corporations, 48,603,392 participating preferred shares and 48,363,392 subordinate voting shares of Power Corp., representing 99.49 per cent and 11.76 per cent respectively, of each share class.
Ford CEO not leaving
DEARBORN, Mich. -- Alan Mulally is staying at Ford.
The CEO, who was rumoured to be in the running to become Microsoft's next leader, told The Associated Press Tuesday he won't leave the Dearborn, Mich., automaker before the end of 2014.
"I would like to end the Microsoft speculation because I have no other plans to do anything other than serve Ford," Mulally said in an interview. When asked if this should end investor concern about his departure, Mulally said, "You don't have to worry about me leaving."
$10-B app-sales record
NEW YORK -- Apple says people spent more than $10 billion in its app store last year, on apps such as Minecraft, Angry Birds Star Wars and the Sleep Cycle alarm clock.
December was the most successful month in the store's history, as customers spent $1 billion that month. Apple says the year's total was also a record.
-- from the news services