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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.

December Canadian auto sales sag 21 percent

TORONTO (Reuters) - Canadian auto sales tumbled 21 percent in December from a year earlier, industry figures showed on Monday, as the worsening global economy undercut consumer confidence and credit was harder to come by. Canadians bought 94,423 vehicles last month compared with 119,894 in December 2007, according to figures from DesRosiers Automotive Consultants Inc.

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.

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.

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.

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.

Prosecutors seek to jail Madoff

NEW YORK/WASHINGTON (Reuters) - U.S. prosecutors asked a judge to jail accused swindler Bernard Madoff on Monday, saying he sent jewelry and other items worth more than $1 million to family and friends in violation of his bail. A lawyer for investment adviser Madoff, who made his first court appearance since his December 11 arrest on a charge of securities fraud in what could be Wall Street's biggest scam, said his client had already returned some of the items and argued that the 70-year-old was not a flight risk.

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).

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.

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.

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