TORONTO, Feb 8 (Reuters) – The Canadian government’s plan
to create a national securities regulator suffered a blow on
Tuesday, when British Columbia said it has urged the country’s
highest court to reject Ottawa’s proposal.
The Pacific Coast province filed a legal brief with the
Supreme Court of Canada in support of a lawsuit by Alberta and
Quebec, which argues the federal government’s current plan
would encroach on provincial jurisdiction.
TORONTO (Reuters) – Wal-Mart’s decision to open more supercentres in Canada, including its first in the province of Quebec, may help the world’s largest retailer counter Target’s long-anticipated debut north of the border.
The opening of 40 more Wal-Mart Supercentres, which feature a wider array of grocery items than the regular stores, could also put pressure on Canada’s smaller food retailers, especially those with a big presence in Quebec.
TORONTO (Reuters) – Canada’s economic expansion will slow this year, according to a Reuters poll, but a stronger corporate environment and a pick-up in the U.S. recovery is expected to help keep growth running at a healthy clip.
The median forecast of 21 economists polled over the past week predicts the Canadian economy will expand 2.4 percent this year, in line with predictions in a similar survey in October, when economists had predicted last year’s GDP growth at 3.0 percent.
TORONTO (Reuters) – U.S. retailer Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) on Thursday announced plans to enter the Canadian market, taking over leases for up to 220 Zellers stores owned by storied domestic retailer Hudson’s Bay Co.
In its first foray outside its U.S. home market, Target said it would pay Zellers Inc C$1.825 billion ($1.84 billion) for the leases and would run the stores under the Zellers brand for “a period of time.”
TORONTO, Jan 12 (Reuters) – Canada’s auction of five-year
bonds met with decent demand on Wednesday, even though
government bonds were weaker across the curve as strength in
global equity markets drew interest away from safe-haven debt.
The sale of C$3.2 billion ($3.24 billion) government bonds,
due June 1, 2016, produced an average yield of 2.674 percent,
up from 2.182 percent during the previous auction in November.
TORONTO, Jan 9 (Reuters) – Canadian stocks are expected to
rise for a third straight year in 2011, albeit at a slower
pace, as rising demand for many commodities and a solidifying
economic recovery boost energy and financial shares.
Many are counting on a rebound in the United States,
Canada’s largest export market, to help shares listed on the
Toronto Stock Exchange’s benchmark S&P/TSX composite index
.GSPTSE claw out further gains.
TORONTO, Dec 9 (Reuters) – Profit at Empire Co Ltd
(EMPa.TO: Quote, Profile, Research, Stock Buzz) jumped nearly 90 percent in the second quarter,
thanks largely to a big capital gain, the parent of Sobeys,
Canada’s second largest grocery chain, said on Thursday.
Empire saw a 1 percent deflation in retail food price this
quarter, however, predominantly driven by promotions.
TORONTO (Reuters) – Lululemon Athletica Inc (LLL.TO: Quote, Profile, Research, Stock Buzz) (LULU.O: Quote, Profile, Research, Stock Buzz), the Canadian retailer that has caught the eye of television host Oprah Winfrey, saw net profit nearly double in the third quarter amid stronger sales of its trendy yoga wear and predicted more growth ahead.
For the quarter ended October 31, Lululemon had net income of $25.7 million, or 36 cents a share, up from $14.1 million, or 20 cents a share, in the year-earlier quarter.
TORONTO, Dec 8 (Reuters) – Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz), Canada’s No.1
hardware distributor and home building supply retailer, said on
Wednesday it will begin paying a cash dividend on a semi-annual
Rona declared a cash dividend of 7 Canadian cents a share,
payable on March 25, to holders of record on March 10, 2011.
TORONTO (Reuters) – Canada’s main stock index is expected to see-saw higher next year as loose U.S. monetary policy and steady global growth entice investors to the resource-heavy market, a Reuters poll found.
The Toronto Stock Exchange’s S&P/TSX composite index was seen ending 2011 at 14,000, according to the median forecast of 26 analysts and fund managers in a poll taken over the past week.