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Reuters Canada Business Summary

12/05/08

RIM's new BlackBerry Bold targets business market

TORONTO (Reuters) - Research In Motion Ltd is launching a new high-end version of the BlackBerry aimed at its core base of business users, but it hopes the sleek device will also catch on in the broad retail market. The BlackBerry Bold, as the new smartphone is called, is the first BlackBerry to support high-speed HSDPA cellular networks and comes with integrated GPS, Wi-Fi and a host of multimedia features.

EnCana to split in two with oil at record highs

CALGARY, Alberta (Reuters) - EnCana Corp , Canada's biggest energy company, said on Sunday it plans to split into two separate oil and natural gas firms in an effort to wring out more value with crude prices at record highs. EnCana, a $65 billion gas and oil sands producer formed in a merger six years ago, said the move should help investors better gauge the parts of its business and remove a discount it says it suffers in the stock market.

Oil steady above $126

PERTH (Reuters) - Oil hovered close to record levels above $126 a barrel on Monday as violence in the Middle East heightened worries of supply disruptions in the world's largest crude producing region. U.S. light crude for June delivery rose 18 cents to $126.14 a barrel by 2359 GMT. It closed $2.27 higher at $125.96 a barrel on Friday, before rising to a record $126.27 in late post-settlement trade.

Stocks sag on economic uncertainty

SINGAPORE (Reuters) - Stocks fell on Monday, weighed down by uncertainty over the health of the U.S. economy and surging oil and commodity prices, while Japanese exporters felt the pinch from a stronger yen. The dollar held steady but remained on the defensive after a sharp fall on Friday following news that American International Group , the world's biggest insurer, posted its largest ever quarterly loss and said it planned to raise $12.5 billion in fresh capital.

Toronto stocks hit by profit-taking despite oil

TORONTO (Reuters) - The Toronto Stock Exchange's main index finished in the red on Friday as profit-taking cooled the energy sector even though oil prices hit another record high. The S&P/TSX composite index <.GSPTSE> dropped 86.80 points, or 0.59 percent, to close at 14,521.19.

Canadian dollar up over a cent, bonds rally

TORONTO (Reuters) - The Canadian dollar rose more than a cent against the U.S. dollar on Friday, a move attributed to technical factors as well as domestic jobs data, against a positive backdrop of record-setting oil prices. Domestic bond prices rallied, playing catch-up with the larger U.S. market.

Data shows some cracks in solid Canadian economy

OTTAWA (Reuters) - Reports on Canada's employment and trade performance on Friday appeared to showcase the economy's resilience to the U.S. slowdown, but some less encouraging trends emerged in the details. Statistics Canada said the economy created 19,200 jobs in April, more than the 10,000 forecast, while the unemployment rate ticked up to 6.1 percent from 6.0 percent in March as more people entered the work force.

ACE launches C$500 mln buyback as net income falls

CALGARY, Alberta (Reuters) - ACE Aviation Holdings Inc , parent of Air Canada , took another step toward winding up operations on Friday, announcing it will buy back about 42 percent of its stock as it posted a first-quarter net loss due to one-time charges. ACE also said that surging jet fuel prices and weak North American airline industry conditions are complicating matters as it weighs its options for its 75 percent stake in Air Canada, the country's dominant carrier.

Canada blocks Alliant Tech's satellite purchase

OTTAWA (Reuters) - Canada confirmed on Friday it would block the proposed $1.33 billion sale of sensitive Canadian satellite technology to U.S. rocket-maker Alliant Techsystems Inc . Canada initially halted the deal a month ago -- in part because it feared it might lose control over top-secret images -- but gave Alliant Tech a month to appeal.

Pizza Hut rolling out all-natural pizza

LOS ANGELES (Reuters) - YUM ! Brands Inc's Pizza Hut said on Friday it is responding to consumer demand for healthier food options by rolling out a new pizza made with all-natural ingredients. The move comes as Yum is expanding menus at its domestic Pizza Hut, Taco Bell and Kentucky Fried Chicken restaurants to better compete with rival fast-food companies.

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