Employment edges lower in November
(Reuters) ? The Canadian economy lost 18,600 jobs in November, Statistics Canada said on Friday. The loss of 53,300 part-time jobs was partially offset by a gain of 34,600 in full-time employment. The unemployment rate rose slightly to 7.4 percent in the month.
RIM won't meet targets after PlayBook charge
TORONTO (Reuters) - Research in Motion warned on Friday it would fall short of its financial targets after taking a huge charge to write down the value of its PlayBook tablet, and the BlackBerry maker's shares tumbled. Aiming to drive up anemic sales of the PlayBook, RIM last month began to offer the tablet computer at sharp markdowns, forcing it to book a $360 million after-tax writedown.
Natives to oppose West Coast oil pipelines
(Reuters) - Aboriginal groups in the Canadian Pacific province of British Columbia said on Thursday they had formed a united front to oppose all exports of crude oil from the Alberta tar sands through their territories. The declaration is another political blow to the Canadian energy sector and Canada's right-of-center Conservative government after Washington decided last month to delay approving a pipeline carrying oil sands crude to the Gulf Coast.
RBC PMI shows slower manufacturing growth
TORONTO (Reuters) - Canadian manufacturing growth slowed in November to the weakest level in four months as worsening global economic conditions took a toll on the domestic environment, data on Thursday showed. The RBC Canadian Manufacturing Purchasing Managers' Index came in at 53.31 in November, above the level of 50 that separates expansion from contraction.
TSX rises on U.S. jobs data, Europe optimism
TORONTO (Reuters) - Toronto's main stock index opened sharply higher on Friday, on track to post its biggest weekly gain since July 2009 after encouraging U.S. jobs numbers and talk of more action to ease the euro zone debt crisis lifted investor confidence. The Toronto Stock Exchange's S&P/TSX composite index was up 116.61 points, or 0.96 pct, to 12,229.90, shortly after the open.
Supreme Court to hear corn syrup price-fixing
(Reuters) - Canada's Supreme Court said on Thursday it will hear a case that alleges producers of high-fructose corn syrup, including U.S. agribusiness giants Cargill Inc and Archer Daniels Midland Co, conspired to fix the sweetener's price. The case involves efforts to set up a class action lawsuit. It was brought by Sun-Rype Products Ltd, a Canadian juice and fruit-snack company based in British Columbia, and by a consumer representing potential individual claimants.
GM Canada market share hits historical low, analyst
TORONTO (Reuters) - General Motors market share in Canada hit an historical low in November, an analyst said, as figures on Thursday showed its sales fell 14.2 percent. Ford Motor Co's Canadian sales also fell but it remained the top-selling brand in the country.
RIM, Nokia deny use of Carrier IQ software
TORONTO (Reuters) - Research In Motion does not install, nor authorize, its carrier partners to install "Carrier IQ" monitoring software on its BlackBerry smartphones, the company said on Thursday. RIM made the statement after a security researcher said the "Carrier IQ" application, which can monitor what device users are doing, has been installed on mobile devices from multiple vendors without the knowledge or consent of customers.
Maple says TMX deal could give OSC a pricing role
TORONTO (Reuters) - The Canadian consortium seeking to buy TMX Group, operator of the Toronto Stock Exchange, said on Thursday it could give regulators the right to supervise clearing and settlement prices in order to gain approval of the C$3.8 billion (C$3.76 billion) takeover deal. Under its TMX takeover proposal, the Maple Group consortium of Canadian financial services companies wants to also buy Canadian Depository for Securities (CDS), which clears and settles trades in Canada. This aspect of the deal has spurred fears of an unfair monopoly, and Maple said it is ready to compromise to get the deal done.
Flaherty tells Europe to fight crisis with own money
NEW YORK (Reuters) - European leaders should not expect outside help until euro zone countries have put up more of their own resources to try to stem their financial crisis, Canada's finance minister said on Wednesday. Finance Minister Jim Flaherty said it was not the right time for euro zone countries to turn to the International Monetary Fund for help.
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