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Reuters Canada Business Summary

Wednesday, March 1, 2006 07:03 EST

Talisman Energy profit rises on robust oil prices

CALGARY, Alberta (Reuters) - Talisman Energy Inc. said on Wednesday fourth-quarter profit rose sharply on robust oil and natural gas prices and said production momentum would stay strong through this year. The Calgary-based company, which operates in Canada, the United States, southeast Asia and the North Sea, said net income rose to C$533 million ($468 million), or C$1.42 a share, up from C$121 million, or 31 Canadian cents a share, in the year-earlier quarter.

AEterna returns to profit in fourth quarter

TORONTO (Reuters) - AEterna Zentaris Inc. reported a fourth-quarter profit on Wednesday helped by a jump in revenue. The Quebec-based health company said it earned $936,000, or 2 cents a share for the period ended December 31, compared with a loss of $2 million, or 4 cents a share for the same period a year earlier.

Oil turmoils test Chinese buyers' risk appetite

SINGAPORE/HONG KONG (Reuters) - Chinese oil firms may have snared large foreign assets at fair prices, fanning their reputation as non-aggressive buyers, but their investments are being tested by turmoil in some of the countries. Major delays in the projects sparked by attacks or violent protests could wipe hundreds of millions of dollars off the present value of the Chinese acquisitions, analysts said.

Dollar sets 14-yr high; bonds firm

TORONTO (Reuters) - The Canadian dollar jumped to a 14-year high against the U.S. dollar on Tuesday, supported by sturdy economic growth figures while the greenback stumbled after weaker-than-expected U.S. regional data. Bond prices held firm, despite the gross domestic product data, which was not expected to deter the Bank of Canada from raising interest rates again next week.

Canada provinces still split on softwood: minister

OTTAWA (Reuters) - Canada's lumber-producing provinces have yet to agree on a common position to take into negotiations with the United States on the softwood lumber trade dispute between the two countries, Trade Minister David Emerson said on Tuesday. "The provinces are continuing to work collaboratively and whether they have converged on something you could begin to call consensus, I think it's a little early to say that," Emerson told Reuters in an interview.

Intrawest eyes deals to boost stock price

VANCOUVER, British Columbia (Reuters) - Intrawest Corp. , one of the world's biggest ski resort operators, signaled on Tuesday it was willing to consider a merger or other deals as it faces pressure to boost its share price. The company, which is set to play a big role in the 2010 Winter Olympics in Vancouver, said it is evaluating its options and that it has been approached by equity and leisure industry players.

Dollar sinks to 14-year lows vs Canadian dollar

NEW YORK (Reuters) - The dollar fell to 14-year lows against the Canadian dollar on Tuesday, with speculative sellers overcoming earlier bids from U.S. investment banks. The dollar sank to a low of C$1.1353 , according to Reuters data, down 0.4 percent from late Monday.

Google CFO warns of slow growth

NEW YORK (Reuters) - Google Inc. Chief Financial Officer George Reyes said on Tuesday that advertising revenue growth is bound to slow, sparking a sell-off of as much as 13 percent in the Web search leader's volatile stock. However, late in the day on Tuesday, the company issued a statement to reaffirm that it still sees plenty of room to improve on how it makes money selling advertising alongside its popular Web search results.

Toronto stocks end lower despite late energy rally

TORONTO (Reuters) - Toronto stocks closed slightly lower on Tuesday as the volatile energy sector staged a late rally on strengthening crude prices, but couldn't completely offset a sharp decline early in the day. The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed 18.13 points lower, or 0.15 percent, at 11,688.34, its lowest level in two weeks.

MDA Q4 profit rises 43.6 pct

TORONTO (Reuters) - Profit rose 43.6 percent at MacDonald, Dettwiler and Associates Ltd. in the fourth quarter, the aerospace technology and information firm said on Tuesday. MDA, which developed the robotic arm technology used on the NASA space shuttle, said it earned C$20 million ($17.5 million), or 49 Canadian cents a share, in the quarter, compared with C$14 million, or 35 Canadian cents a share, in the same period the previous year.

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