Correspondent, Toronto, Canada
Alastair's Feed
Mar 11, 2015

Canada alleges Pakistani man plotted bombing U.S. consulate in Toronto

TORONTO (Reuters) – A Pakistani man inspired by Islamic State planned to attack the U.S. consulate in Toronto and other targets in the city’s financial district but was caught when he shared his plan with an undercover police officer, Canada’s immigration authorities said on Wednesday.

Jahanzeb Malik, 33, was arrested on Monday after an undercover Royal Canadian Mounted Police officer befriended him as part of a long investigation into the former student, who has a record of travel to Pakistan and allegedly underwent combat training in Libya.

Mar 11, 2015

TSX firms as higher Brent crude helps energy stocks

TORONTO, March 11 (Reuters) – Canada’s main stock index won
back marginal gains on Wednesday, with oil and gas stocks
bouncing back in line with a rise in the price of Brent crude

The index had lost more than 3 percent in the prior three
sessions as investors’ bets on a Federal Reserve interest rate
hike boosted the U.S. dollar and hit commodity prices. Canada is
a major exporter of commodities such as oil and lumber.

Mar 6, 2015

Canada raises C$2.11 bln in wireless airwaves auction

TORONTO, March 6 (Reuters) – Canadian wireless operators led
by Telus Corp paid C$2.11 billion ($1.68 billion) in a
government auction of airwaves this week, with small operators
paying far less than established players under a plan to spur

In announcing the results on Friday, Industry Minister James
Moore said the country’s biggest wireless operator, Rogers
Communications Inc, did not win any spectrum. Small
new-entrant Wind Mobile paid the minimum C$56.4 million for
spectrum in populous British Columbia, Alberta and southern
Ontario after its struggling rival Mobilicity did not bid.

Mar 5, 2015

TSX ekes out gain as ECB rally fades; energy earnings help

TORONTO, March 5 (Reuters) – Canada’s main stock index rose
in a broad but shallow rally on Thursday, led by a 5 percent
jump in shares of Canadian Natural Resources Ltd after
the major oil and gas producer surprised investors with strong
quarterly results.

While the index notched a small gain after a two-day slip,
investors appeared to only cautiously embrace some resource
stocks as the price of oil stabilizes at
historically low levels.

Mar 3, 2015

TSX slips as banks weigh; energy a lone bright spot

TORONTO, March 3 (Reuters) – Canada’s main stock exchange
retreated on Tuesday in a broad decline led by financial stocks
including Bank of Nova Scotia, which reported a
lower-than-expected quarterly profit.

The energy sector, which has fallen in recent months as the
price of crude oil has sunk, was the only one of
10 main groups on the index to make a positive move on the day.

Mar 3, 2015

Canada GDP data shows economy heading in right direction -Oliver

TORONTO, March 3 (Reuters) – Canada’s stronger-than-expected
growth figures for the fourth quarter show the economy is
heading in the right direction, Finance Minister Joe Oliver told
Reuters on Tuesday.

Oliver, speaking on the sidelines of an event in Toronto,
also repeated a promise to balance the budget in 2015/16 despite
an oil-price slump that has cut government revenues.

Feb 25, 2015

TSX higher on Hudson’s Bay surge, banks gain too

TORONTO, Feb 25 (Reuters) – Canada’s main stock index gained
on Wednesday as Hudson’s Bay Co surged on a plan to
carve out its real estate assets and banking stocks rose after
Royal Bank of Canada and National Bank of Canada
posted solid earnings.

HBC said it will form two real estate joint ventures that
will bring in about C$1.1 billion ($890 million) in cash. The
stock shot up 19.7 percent to C$26.57.

Feb 25, 2015

Toronto police baffled by mystery tunnel with rosary nailed to wall

TORONTO (Reuters) – A mysterious tunnel discovered in Toronto near one of the venues for this summer’s Pan American Games contained a rosary with a crucifix and poppy, and did not appear to be linked to criminal activity, police said on Tuesday.

Police said they had no idea who built the tunnel or why, saying “there’s nothing illegal about digging a hole” as they appealed for information from the public.

Feb 24, 2015

Toronto mystery tunnel had rosary nailed to wall, police say

TORONTO (Reuters) – A mysterious tunnel discovered in Toronto near one of the venues for this summer’s Pan American Games contained a rosary with a crucifix and poppy, and there is nothing to suggest the tunnel was linked to criminal activity, police said on Tuesday.

The hand-dug tunnel, which ran for about 10 meters (33 feet) and was large enough for an adult to stand in, was discovered Jan. 14 in a wooded area near Rexall Centre, a tennis stadium at York University that will be used for the Pan Am games in July.

Feb 18, 2015

Oil price fall leads to first TSX slip in 6 sessions

TORONTO, Feb 18 (Reuters) – Canada’s main stock index
slipped on Wednesday, its first decline in six sessions, as
shares of oil and gas companies were weighed down by the
stalling momentum of a recent rally in the price of oil.

Investors took some comfort from the minutes of the U.S.
Federal Reserve’s last meeting, which showed policymakers were
concerned about raising interest rates too quickly.

    • About Alastair

      "Canada tech, media and telecoms reporter based in Toronto, with emphasis on Research In Motion and including coverage of Rogers, Bell Canada, Telus, the new mobile entrants and the tech companies filling in the gaps. Previously spent two years in Cairo bureau chasing Orascom Telecom's Naguib Sawiris. Prior to that, spent a year learning the ropes in London."
      Joined Reuters:
      English, Arabic
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