Transportation, Retail and Markets Correspondent, Canada
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Dec 11, 2012

Bank of Canada-Household debt could spur higher rates

TORONTO, Dec 11 (Reuters) – The Bank of Canada may need to
raise interest rates higher than would be normal in order to
curb household debt, although its talk of higher rates has
already encouraged more prudent borrowing, Governor Mark Carney
said on Tuesday.

In his first speech since being appointed as the next Bank
of England governor, Carney repeated the bank’s mildly hawkish
line on the likelihood of a modest withdrawal of stimulus
measures. That stance, maintained since April, has made Canada’s
central bank an outlier among the central banks of developed

Dec 11, 2012

More Canadian employers seen hiring in 2013 1st qtr -Manpower

TORONTO, Dec 11 (Reuters) – Canadian employers have a
brighter outlook for adding jobs in the new year, with
transportation and public utility companies the most bullish,
but a cautious mood on the economy still prevails, according to
a survey released on Tuesday.

In a quarterly survey of more than 1,900 Canadian employers
by staffing firm Manpower Inc, a net 13 percent expected
to add new jobs in the first quarter of 2013.

Dec 6, 2012

Canada’s Ivey PMI index unexpectedly fell in November

TORONTO, Dec 6 (Reuters) – Purchasing activity in Canada
unexpectedly fell in November, according to Ivey Purchasing
Managers Index data released on Thursday, the latest report to
suggest economic weakness has carried into the fourth quarter.

The seasonally adjusted index fell to 47.5 in November from
58.3 in October. Analysts polled by Reuters had expected an
adjusted reading of 58.6.

Dec 3, 2012

Canada’s OSC takes Ernst & Young to task on Sino-Forest

TORONTO, Dec 3 (Reuters) – Canadian regulators said on
Monday Ernst & Young had conducted improper audits of
Sino-Forest Corp in the years before fraud allegations brought
down its client, and the accounting firm said it reached a
settlement in a class-action suit by Sino shareholders.

Dimitri Lascaris, a partner at Siskinds LLP and co-lead
counsel for the investor class action, said he believes the
auditor settlement, at C$117 million ($118 million), was the
biggest of its kind in Canadian history.

Nov 16, 2012

C$ ends stronger following U.S. fiscal talks

TORONTO, Nov 16 (Reuters) – The Canadian dollar notched a
modest gain against the U.S. currency on Friday after touching a
3-1/2-month low earlier in the session, bolstered by a White
House meeting on the “fiscal cliff” that congressional leaders
said was constructive.

Democrats and Republicans emerged from a meeting with
President Barack Obama on Friday vowing to find common ground on
taxes and spending that would allow them to head off a looming
“fiscal cliff” that could push the economy back into

Nov 16, 2012

C$ pared losses after constructive fiscal meeting

TORONTO, Nov 16 (Reuters) – The Canadian dollar pared losses
against the U.S. dollar on Friday after touching a 3/12 month
low late in the morning, following a White House meeting on the
“fiscal cliff” that congressional leaders said was constructive.

Top Republicans emerged from a meeting at the White House on
Friday saying they are prepared to agree to additional revenue
to avert harsh automatic year-end tax increases and spending
cuts, as long as there are also reductions in spending.

Nov 16, 2012

C$ firms ahead of White House meeting

TORONTO, Nov 16 (Reuters) – The Canadian dollar strengthened
to near parity with the U.S. dollar on Friday ahead of a meeting
between U.S. President Barack Obama and congressional leaders to
discuss the U.S. fiscal crisis.

Market sentiment was slightly more hopeful that the United
States would be able to defuse the “fiscal cliff” crisis
following a Wall Street Journal report that said White House
officials were in advanced internal discussions that could
indicate increased flexibility on reaching a deal with
Republican leaders.

Nov 14, 2012

Canada’s TMX sees regulation driving any M&A

TORONTO, Nov 14 (Reuters) – TMX Group Ltd (X.TO: Quote, Profile, Research) will look
closely at any regulatory changes that the United States or
other jurisdictions put into place as it sizes up acquisitions
during and after the exchange industry’s current rough patch,
TMX’s chief executive said on Wednesday.

“There could be significant regulatory changes in terms of
how multi-marketplace environments continue to operate that
could very much sway us one way or another as we look at other
markets to operate exchanges in,” said Tom Kloet, CEO of TMX,
the Toronto Stock Exchange’s parent.

Nov 9, 2012

Canada’s TMX posts profit, first results post-takeover

TORONTO, Nov 9 (Reuters) – Canada’s TMX Group Ltd
will focus on paying down C$1.5 billion ($1.50 billion) in
loans, even as it looks for chances to expand its business
through acquisitions, the operator of the Toronto Stock Exchange
(TSX) said on Friday.

TMX reported a third-quarter profit in its first quarterly
statement since it was taken over by a consortium of major
Canadian financial institutions, but said earnings were hurt by
a slowdown in capital markets activity and uncertain
macroeconomic conditions.

Oct 25, 2012

TSX halts 4-day skid, gold miners soar on results

TORONTO, Oct 25 (Reuters) – Canada’s main stock index
finished sharply higher on Thursday as strong results from
miners Goldcorp Inc and Agnico Eagle Mines Ltd,
as well as encouraging global economic data, helped lift stocks
across most sectors.

Goldcorp, Canada’s second-biggest gold miner, posted a 48
percent rise in quarterly profit, sending its shares surging
6.89 percent to C$43.60. It was the most heavily weighted riser
on the index.

    • About Solarina

      "I am a Canadian transportation, retail and markets correspondent. I occasionally moonlight in entertainment and lifestyle news. I was formerly a homepage editor for, and an online news editor for, and .ca. Life before Reuters included working in China and freelancing in California."
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