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Feb 19, 2013

British Columbia projects surplus ahead of May election

VICTORIA, British Columbia, Feb 19 (Reuters) – British
Columbia will return to a budget surplus in the next fiscal year
by clamping down on spending, hiking taxes and selling assets,
its finance minister projected on Tuesday in a lean budget that
is seen as make-or-break for the Liberals ahead of a May
election.

The Canadian province’s annual budget projected a small
surplus of C$197 million ($194.69 million) in the coming fiscal
year, after a revised deficit of C$1.2 billion in 2012-13.

Nov 30, 2012

Canada finance minister vows to stay in job till 2015

VICTORIA, British Columbia, Nov 30 (Reuters) – Canadian
Finance Minister Jim Flaherty said on Friday he intends to stay
in his job until the federal budget is balanced, a goal set for
2015, shrugging off speculation that he might step down next
year.

Flaherty, 62, has been finance minister since 2006, making
him the longest-serving cabinet minister in the Conservative
government of Prime Minister Stephen Harper.

Oct 15, 2012

Bank of Canada head sees fallout from global woes

NANAIMO, British Columbia, Oct 15 (Reuters) – The Bank of
Canada will take whatever action is necessary to keep inflation
on target, and its economic forecasts next week will reflect the
fallout from extreme global uncertainty, central bank chief Mark
Carney said on Monday.

Carney also said there were some signs the country’s once
hot housing market was easing, but warned that the data could be
volatile as the effect of fiscal and regulatory changes designed
to curb the mortgage market took effect.

Oct 15, 2012

Bank of Canada-Will take “whatever action is appropriate”

NANAIMO, British Columbia, Oct 15 (Reuters) – Bank of Canada
Governor Mark Carney said on Monday the central bank would do
whatever is necessary to stick to its 2 percent inflation target
in the face of extreme global uncertainty but made no mention of
possible interest rate hikes.

Since April Carney – alone among his Group of Seven peers -
has regularly talked about the possible need to raise rates from
near-record lows as the economy recovers, even as data showed
Canada was being hurt by challenges in Europe and the United
States.

Jul 31, 2012

Canadian investing regulator raps RIM critic Alboini

TORONTO, July 31 (Reuters) – A shareholder in Research In
Motion who has been a vocal and persistent
critic of the BlackBerry maker has been found by Canada’s
investment industry watchdog to have engaged in improper and
risky trading.

In a decision released late on Monday, the Investment
Industry Regulatory Organization of Canada (IIROC) said that
between August and November 2008, investment bank Northern
Securities Inc Chief Executive Victor Alboini “engaged in a
trading practice which improperly obtained access to credit” for
his client, Jaguar Financial Corp, of which Alboini is also
president and CEO, and in doing so risked the capital of
Northern.

Jul 27, 2012

TMX profit hit by takeover costs, market uncertainty

TORONTO, July 27 (Reuters) – TMX Group Inc, operator
of the Toronto Stock Exchange, reported a drop in quarterly
profit on Friday, hit by a substantial charge related to an
im m inent C$3.8 billion ($3.76 billion) takeover by the Maple
Group consortium of Canadian financial institutions.

Maple, a consortium of 12 big banks, pension funds and
insurers, recently won approvals from provincial regulators and
the federal Competition Bureau to buy TMX. Maple will put TMX
and TMX’s biggest domestic rival, Alpha Group, under the same
umbrella along with clearing house Canadian Depository for
Securities Ltd.

Jul 16, 2012

Canada home prices slip in June from May

TORONTO, July 16 (Reuters) – Sales of existing homes in
Canada slipped 1.3 percent in June from May, the Canadian Real
Estate Association (CREA) said on Monday, in another sign the
country’s long real estate boom is starting to cool down.

Sales were also down 4.4 percent from a year earlier, the
first year-over-year decline since April 2011, the industry
group for Canadian real estate agents said.

Jul 13, 2012

Canada’s TMX looks to U.S. as next step in expansion

TORONTO/NEW YORK (Reuters) – Final approval of a bid for the operator of the Toronto Stock Exchange opens the door to a bigger role for the new entity in the global exchange industry, with expanding into U.S. markets apparently first on the agenda.

TMX Group, which will control some 85 percent of Canadian stock trading after the C$3.8 billion takeover by the Maple Group, is already in talks to buy Direct Edge Holdings LLC, the No. 4 U.S. stock exchange, for up to $500 million, according to people familiar with the matter.

Jul 13, 2012

Analysis: Canada’s TMX looks to U.S. as next step in expansion

TORONTO/NEW YORK (Reuters) – Final approval of a bid for the operator of the Toronto Stock Exchange opens the door to a bigger role for the new entity in the global exchange industry, with expanding into U.S. markets apparently first on the agenda.

TMX Group (X.TO: Quote, Profile, Research), which will control some 85 percent of Canadian stock trading after the C$3.8 billion (2.41 billion pounds) takeover by the Maple Group, is already in talks to buy Direct Edge Holdings LLC, the No. 4 U.S. stock exchange, for up to $500 million, according to people familiar with the matter.

Jul 12, 2012

Canadian exchange deal wins final clearance

TORONTO (Reuters) – The C$3.8 billion ($3.72 billion) acquisition of Canada’s TMX Group cleared its final regulatory hurdles on Wednesday, allowing a financial consortium to take control of all of the country’s major securities exchanges and related businesses.

Concluding a drawn-out review process, regulators in the provinces of British Columbia and Alberta approved Maple Group’s acquisition of TMX – the operator of the Toronto Stock Exchange, TSX Venture Exchange for small-capitalization stocks, and the Montreal Exchange for derivatives, among others.

    • About Jennifer

      "Jennifer Kwan is a Toronto-based reporter on the market news and treasury team, and covers a broad mix of stories related to trading, exchanges and regulation. Previously worked as an editor for the company's online newsroom. Before joining Reuters, she worked at the Canadian Press, as well as the Toronto Star and Yukon News newspapers."
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