Canada sees U.S. approving Keystone pipeline
TORONTO (Reuters) ? Canada believes the United States will ultimately approve TransCanada's proposed Keystone XL pipeline, which Washington put on hold last month for more than a year, Natural Resources Minister Joe Oliver said on Friday. Oliver said the project - which would carry crude from Alberta's oil sands to the Gulf of Mexico coast - still makes enormous economic sense for the United States.
Jobless rate unexpectedly rises in November
OTTAWA (Reuters) - Canada's economy unexpectedly lost jobs for a second straight month in November, raising concern that weakness in other countries may do lasting harm to an economy that has so far been surprisingly robust. Net job losses totaled 18,600 jobs in the month following a hefty 54,000 drop in October, Statistics Canada said on Friday, pointing to a poor economic performance in the final quarter of the year.
RIM caps dismal year with another profit warning
TORONTO (Reuters) - Research in Motion booked a huge charge to write down inventories of its underwhelming PlayBook tablet on Friday, capping a dismal year with a steep profit warning that sent its shares tumbling more than 8 percent. Waterloo, Ontario-based RIM, the company whose now ubiquitous BlackBerry created the concept of on-the-go email, said it now no longer expects to meet its full-year earnings forecast, due to weak sales, the PlayBook writedown and a charge related to a damaging service outage in October.
Natives to oppose West Coast oil pipelines
(Reuters) - Aboriginal groups in the Canadian Pacific province of British Columbia said on Thursday they had formed a united front to oppose all exports of crude oil from the Alberta tar sands through their territories. The declaration is another political blow to the Canadian energy sector and Canada's right-of-center Conservative government after Washington decided last month to delay approving a pipeline carrying oil sands crude to the Gulf Coast.
RBC PMI shows slower manufacturing growth
TORONTO (Reuters) - Canadian manufacturing growth slowed in November to the weakest level in four months as worsening global economic conditions took a toll on the domestic environment, data on Thursday showed. The RBC Canadian Manufacturing Purchasing Managers' Index came in at 53.31 in November, above the level of 50 that separates expansion from contraction.
TSX climbs on banks, Europe hopes
TORONTO (Reuters) - Toronto's main stock index was higher on Friday morning, on track to post its biggest weekly gain in more than two years, pushed up by strong bank earnings, encouraging U.S. jobs data and talk of more action to ease Europe's debt. Royal Bank of Canada was the most heavily weighted gainer, up 3.8 percent at C$48.80, after Canada's biggest lender reported a quarterly profit that beat expectations, helped by solid growth in mortgages and business loans, which overshadowed weak capital markets-related income.
Supreme Court to hear corn syrup price-fixing
(Reuters) - Canada's Supreme Court said on Thursday it will hear a case that alleges producers of high-fructose corn syrup, including U.S. agribusiness giants Cargill Inc and Archer Daniels Midland Co, conspired to fix the sweetener's price. The case involves efforts to set up a class action lawsuit. It was brought by Sun-Rype Products Ltd, a Canadian juice and fruit-snack company based in British Columbia, and by a consumer representing potential individual claimants.
GM Canada market share hits historical low, analyst
TORONTO (Reuters) - General Motors market share in Canada hit an historical low in November, an analyst said, as figures on Thursday showed its sales fell 14.2 percent. Ford Motor Co's Canadian sales also fell but it remained the top-selling brand in the country.
RIM, Nokia deny use of Carrier IQ software
TORONTO (Reuters) - Research In Motion does not install, nor authorize, its carrier partners to install "Carrier IQ" monitoring software on its BlackBerry smartphones, the company said on Thursday. RIM made the statement after a security researcher said the "Carrier IQ" application, which can monitor what device users are doing, has been installed on mobile devices from multiple vendors without the knowledge or consent of customers.
Maple says TMX deal could give OSC a pricing role
TORONTO (Reuters) - The Canadian consortium seeking to buy TMX Group, operator of the Toronto Stock Exchange, said on Thursday it could give regulators the right to supervise clearing and settlement prices in order to gain approval of the C$3.8 billion (C$3.76 billion) takeover deal. Under its TMX takeover proposal, the Maple Group consortium of Canadian financial services companies wants to also buy Canadian Depository for Securities (CDS), which clears and settles trades in Canada. This aspect of the deal has spurred fears of an unfair monopoly, and Maple said it is ready to compromise to get the deal done.
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