News from Reuters

CA-BUSINESS Summary

05/01/09

TD and National Bank move to boost capital positions

TORONTO (Reuters) - Two Canadian banks announced new preferred share offerings on Monday as they looked to boost their capital positions. Toronto-Dominion Bank , Canada's second-biggest bank, said it planned to raise about C$225 million ($189 million) in a preferred share offering.

Policy makers meet with banks on credit woes

OTTAWA (Reuters) - The finance minister and central bank chief met with the country's top bank executives on Monday to prod them to loosen up lending, officials said. A spokesman for Finance Minister Jim Flaherty confirmed the meeting took place early on Monday. Bank of Canada Governor Mark Carney also attended, according to his spokesman.

Oils help TSX rise for fifth straight day

TORONTO (Reuters) - Toronto's main stock index ended higher for a fifth straight session on Monday, supported by rising energy shares, which climbed along with oil prices, and by a rally in financials. The oil and gas sector climbed 3.3 percent as the price of crude rose above $48 a barrel, helped up by worries over the effects of Israel's attacks on Gaza and by Russia's dispute with Ukraine over natural gas prices.

Higher oil price helps boost dollar

TORONTO (Reuters) - The Canadian dollar firmed against the U.S. currency on Monday to close at its highest level in two weeks, helped by a rise in the price of oil as tension in the Middle East raised supply concerns. Bonds were lower across the curve as investors' appetite for risk returned, boosting the Toronto Stock Exchange <.GSPTSE> to a higher close after an early retreat.

Bombardier, Deutsche Bahn in $2.1 billion rail deal

TORONTO (Reuters) - Bombardier Inc. said on Monday it had signed contract worth up to $2.1 billion (C$2.5 billion) with German rail operator Deutsche Bahn AG for 800 train cars. The two companies signed a framework agreement for 800 double-deck coaches, the largest that DB has ever awarded to a single supplier, with a total value of up to 1.5 billion euros ($C2.5 billion).

Oil rises 5 percent as geopolitical concerns mount

NEW YORK (Reuters) - Oil prices rose 5 percent on Monday as Israel's deepening incursion into Gaza and a dispute between Russia and Ukraine over natural gas heightened fears of supply disruptions. U.S. crude gained $2.47 to settle at $48.81 a barrel, after touching a three-week high of $49.28. London Brent crude rose $2.71 to $49.62 a barrel.

Caisse de depot CEO Richard Guay to step down

TORONTO (Reuters) - Richard Guay, the head of the country's biggest pension-fund manager, Caisse de depot et placement du Quebec , is stepping down and becoming a strategic adviser, after being away on medical leave. Guay will resign effective January 7. He was appointed president and chief executive on September 5, 2008, and has been with the Caisse since 1995.

Ex-eBay CEO Whitman eyes run for California governor

SAN FRANCISCO (Reuters) - Former eBay Inc Chief Executive Meg Whitman has resigned from three corporate boards for personal reasons, a turn-of-the-year move that would free her to run for governor of California. Term limits mean Gov. Arnold Schwarzenegger, a Republican like Whitman, must leave the job in 2010, and high-profile figures in the Golden State from Democratic Senator Dianne Feinstein to former high technology executives are considering making a run.

U.S. seeks to revoke Madoff bail

NEW YORK (Reuters) - U.S. prosecutors asked a judge to revoke the bail terms for alleged swindler Bernard Madoff and detain him on Monday, claiming he was a flight risk. But the U.S. magistrate judge withheld his decision and requested both sides to present additional written materials this week.

Apple's Jobs reassures investors about his health

NEW YORK (Reuters) - Apple Inc Chief Executive Steve Jobs sought to soothe investor concerns about his health on Monday, saying his weight loss was caused by a hormone imbalance that is relatively simple to treat. Shares of Apple rose more than 5 percent in midday trade, as Jobs, a pancreatic cancer survivor, said he would remain CEO during his recovery and that his doctors expect him to regain his weight by late spring.

© 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.