News from Reuters

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 eases towards $125 on stronger dollar

LONDON (Reuters) - Oil eased towards $125 a barrel on Monday, as a stronger dollar and profit-taking put the brakes on a rally that took it to record peaks last week. U.S. light crude for June delivery fell 69 cents to $125.27 a barrel by 5:19 a.m. EDT (0919 GMT), off Friday's new record high of $126.27 hit on supply concerns and a rush of speculator buying.

Global stocks rise after HSBC; dollar firmer

LONDON (Reuters) - World stocks rose on Monday, supported by better-than-expected first-quarter results from HSBC which eased concerns about the banking sector, while the dollar rose towards last week's two-month peak. Major financial markets were calm after China's southwest province of Sichuan was hit by a strong earthquake, which was felt across much of China and as far west as Bangkok. Shanghai stocks fell around 1 percent before closing up on the day, while the yuan slipped in offshore non-deliverable forwards against the U.S. dollar.

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.

© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.