Randall's Feed
Nov 29, 2012

Malaysian minister went to Canada over Petronas bid

OTTAWA, Nov 29 (Reuters) – A Malaysian minister flew to
Canada to discuss with federal officials the bid by Malaysian
state-owned oil company Petronas for Progress Energy
Resources Corp after Canada initially turned it down,
Canadian Industry Minister Christian Paradis said on Thursday.

Idris Jala, a minister without portfolio in the cabinet of
Malaysian Prime Minister Najib Razak, met Deputy Industry
Minister John Knubley and discussed the bid with Canadian
officials after Paradis’ rejection of it on Oct.
19.

Nov 28, 2012

Canada sticks to formula on CNOOC despite CFIUS refile

OTTAWA, Nov 28 (Reuters) – Canada said on Wednesday it would
decide soon on two big foreign takeover bids for domestic energy
companies, despite possible delays in approval by U.S.
regulatory authorities.

“We intend obviously to take decisions on a couple of
particular matters along with some more general guidance to the
marketplace. We intend to do that in the near future and that’s
all I’ll say about that,” Prime Minister Stephen Harper said.

Nov 27, 2012

Canada still examining options on foreign energy bids

OTTAWA, Nov 27 (Reuters) – With deadlines fast approaching,
Canada is still weighing two proposed foreign takeovers of
domestic energy companies, but a top minister offered no clues
on Tuesday as to when or how the government would announce the
hotly debated decisions.

The government says it will unveil new policy guidelines on
foreign investment at about the same time it announces verdicts
on the proposed takeovers: A bid by China’s CNOOC Ltd
for Nexen Inc and a bid by Malaysia’s Petronas
for Progress Energy Resources Corp.

Nov 27, 2012

Canada says still examining options on CNOOC bid

OTTAWA, Nov 27 (Reuters) – The Canadian government is still
mulling its options as deadlines near on two proposed foreign
takeovers of domestic energy companies, but an official offered
no clues on when or how Ottawa would announce the hotly debated
decisions.

Andrew MacDougall, spokesman for Prime Minister Stephen
Harper, did not comment on a report that the federal government
might want China’s CNOOC to sell the 7 percent stake
that takeover target Nexen Inc holds in the
large Syncrude oil sands joint venture, because fellow Chinese
company Sinopec has a 9 percent stake in it.

Nov 27, 2012

Canada’s Carney named as Bank of England chief

LONDON/OTTAWA (Reuters) – Britain named Canadian central bank chief Mark Carney on Monday to head the Bank of England, springing the surprise choice of a foreigner to push reform of its troubled financial system.

A former Goldman Sachs investment banker who at the Bank of Canada guided the Canadian economy through the global economic crisis, Carney will succeed Mervyn King who retires in July.

Nov 26, 2012

Carney’s deputy seen as favorite to take over at Bank of Canada

OTTAWA, Nov 26 (Reuters) – The Bank of Canada’s senior
deputy governor, Tiff Macklem, is the early favorite to replace
Mark Carney as the head of the central bank, pointing to a
steady-as-she-goes policy that points eventually to higher
interest rates.

The policy picture would be less clear, however, if an
outsider were brought in for the top Bank of Canada job,
something that the bank has done on the last two occasions.

Nov 26, 2012

Canada’s Carney named as surprise Bank of England chief

LONDON/OTTAWA, Nov 26 (Reuters) – Britain named Canadian
central bank chief Mark Carney on Monday to head the Bank of
England, springing the surprise choice of a foreigner to push
reform of its troubled financial system.

A former Goldman Sachs investment banker who at the Bank of
Canada guided the Canadian economy through the global economic
crisis, Carney will succeed Mervyn King who retires in July.

Nov 26, 2012

Bank of Canada’s Carney says British challenges greater

OTTAWA (Reuters) – Bank of Canada Governor Mark Carney said on Monday he would be taking on the biggest challenge going when he heads up the Bank of England next year, joining the institution as it wins a broader, bigger role.

“I’m going to where the challenges are greatest,” Carney told an Ottawa news conference, adding he would not be moving if he did not feel the Canadian financial system was in top shape.

Nov 20, 2012

Important issues remain on CNOOC bid for Nexen: source

OTTAWA (Reuters) – CNOOC Ltd still needs to reach agreement on critical issues with the Canadian government related to its $15.1 billion bid for oil firm Nexen in order to win approval of the deal, a source familiar with the negotiations said on Tuesday.

Differences center on commercial aspects of the deal, notably commitments on employment and capital expenditure, said the source, who declined to be identified due to the sensitivity of the issue. “There do remain important issues outstanding,” the source said, adding that talks were continuing.

Nov 19, 2012

Canada views state enterprises differently, PM says

OTTAWA, Nov 19 (Reuters) – Canadian Prime Minister Stephen
Harper signaled on Monday his government will treat state-owned
enterprises differently than private-sector companies when it
decides whether to approve foreign investments in Canada.

Ottawa is currently evaluating a $15.1 billion bid by
China’s state-owned CNOOC Ltd to take over Canadian
oil producer Nexen Inc as well as a $5.2
billion proposal by Malaysia’s Petronas to buy
Progress Resources Energy Corp. Decisions are expected
in the next few weeks.