Reuters Canada Business Summary

Tag : Composite Fertilizer

Bank of Canada sees inflation spike to 4.3 pct
OTTAWA (Reuters) - Soaring oil prices will push Canada's inflationhigher until it peaks at 4.3 percent in early 2009, the Bank ofCanada said on Thursday, while this year's second-quarter economicgrowth is expected to come in at 0.8 percent, stronger thanpreviously thought. The central bank, in an update to its AprilMonetary Policy Report, also said it is not poised to raiseinterest rates, saying the current 3.0 percent overnight rateremains appropriate.
Barrick to buy Cadence Energy for C$410 million
TORONTO (Reuters) - Barrick Gold Corp offered C$410 million on Thursday for Cadence Energy Inc , winning quick approval from Cadence, which turned away from arival offer from Daylight Resources Trust . Barrick's C$6.75 per share cash bid trumps Daylight's offer of0.47 of a Daylight share -- which valued Cadence at C$5.99 pershare. It is also higher than the C$6 a share that Barrick said onMonday that it would offer.
Hudson's Bay names Ralph Lauren executive as CEO
TORONTO (Reuters) - Hudson's Bay Co named Jeffrey Sherman as itsnew chief executive on Thursday, a day after the iconic Canadianretailer was snapped up by a U.S.-based private equity firm.Sherman will take over at HBC immediately and will be responsiblefor The Bay, Zellers, Home Outfitters and Fields banners.
Potash Corp to boost capacity at mines by 2012
WINNIPEG, Manitoba (Reuters) - Potash Corp. of Saskatchewan , the world's largest fertilizer company, said on Thursday it wouldexpand three of its mines to add 2.7 million tonnes of capacity by2012. The expansion will cost $1.6 billion and will increase thecompany's total potash capacity to 18 million tonnes, Potash said.
Oil slips, demand worries in focus
NEW YORK (Reuters) - Oil prices slipped on Thursday, adding to adecline of more than $10 this week, on worries over U.S. demand andeasing political tensions between Iran and the West over itsnuclear program. Thursday's losses were limited, however, by freshsupply disruptions in Nigeria and Canada that together pullednearly 200,000 barrels per day off the market.
Canada exporters' confidence tumbles on U.S. woes
OTTAWA (Reuters) - Fears of a worsening U.S. economy have draggeddown confidence among Canadian exporters to the lowest level onrecord, Canada's federal export agency said on Thursday. The tradeconfidence index, which monitors exporters' mood on a variety oftrade and economic indicators, sank to 66.1 from 67.4 in January,the lowest level in the eight-year history of the semi-annualsurvey by Export Development Canada.
Lundin shares jump on Portugal copper-zinc find
TORONTO (Reuters) - Lundin Mining Corp said on Thursday that a high-grade copper-zinc discovery at itsNeves-Corvo mine in southern Portugal puts the mine in the sameleague as some of the world's top copper-zinc mines. Lundin sharesrose almost 8 percent on the Toronto Stock Exchange after thecompany's announcement.
Toronto stocks dip as energy shares weigh
TORONTO (Reuters) - The Toronto Stock Exchange's main indexretreated into negative territory after posting strong gains onThursday morning as the energy group slipped further amid soft oilprices. The S&P/TSX composite index <.GSPTSE> was down 9.32points at 13,494.48 at midday.
Air show marks end of order boom
FARNBOROUGH (Reuters) - A $40 billion spree by Gulf oil statesprevented aircraft orders from going into freefall at this week'sFarnborough Airshow but left little for Airbus and Boeing to scrapover for the rest of the year. Airbus, the planemaking unit ofEurope aerospace group EADS squeezed out a handful of final orders on day four of a show thatexposed a yawning divide between the industry's rich and poor asoil prices approach $150 a barrel.
TD Ameritrade beats expectations, boosts outlook
NEW YORK (Reuters) - Online brokerage TD Ameritrade Holding Corp beat expectations on Thursday with a 29 percent rise inthird-quarter profit, helped by brisk trading, and increased itsoutlook for the year. The company's stock rose 7 percent after itboosted the midpoint of its 2008 profit forecast by two cents ashare, crediting its strong financial performance despite the"challenging economic environment."
© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, includingframing or similar means, is expressly prohibited without the priorwritten consent of Reuters. Reuters shall not be liable for anyerrors or delays in the content, or for any actions taken inreliance thereon.