Wednesday, March 27, 2013

CA-BUSINESS Summary

Banks, energy shares lift TSX on U.S. data optimism

TORONTO (Reuters) - Canada's main stock index advanced on Tuesday, led by the energy and financial sectors, as positive economic data from the United States buoyed investor sentiment. Gains were kept in check as gold shares weakened as an easing of worries over Cyprus lessened the appeal of gold as a safe haven and weighed on bullion prices.

Bank of Canada says to oversee SwapClear due to systemic risk

OTTAWA (Reuters) - The Bank of Canada said on Tuesday it would formally regulate SwapClear, the dominant global system for centrally clearing over-the-counter interest rate swaps, because it has the potential to pose systemic risk to the Canadian financial system. The announcement came the same day Canada's banking watchdog designated the country's top six banks as being of systemic importance.

Canada ups financial oversight, tags "too big to fail" banks

TORONTO (Reuters) - Canadian authorities on Tuesday designated the country's top six banks as "systemically important" to the domestic economy and increased oversight of a widely used global derivatives clearing system in an effort to reduce banking system risk. The so-called too big to fail designation was widely expected by the market and means the six banks will have to keep more capital on hand than required by the Basel Committee on Banking Supervision after the 2008 financial crisis.

EADS vote signals resurrection as "normal company"

PARIS (Reuters) - Airbus parent EADS faces the most far-reaching changes in its history as shareholders seek to balance French and German state shareholdings with tough new safeguards against political meddling. Europe's largest aerospace group has been haunted by political pressures since its inception as an industrial counterpart to the euro currency in 2000, but is re-inventing itself to try to secure greater independence.

Boeing 787 faces new risk: limits on extended range: sources

WASHINGTON/TOKYO (Reuters) - As Boeing works to regain permission for its 787 Dreamliner to resume flights, the company faces what could be a costly new challenge: a temporary ban on some of the long-distance, trans-ocean journeys that the jet was intended to fly. Aviation experts and government officials say the Federal Aviation Administration may shorten the permitted flying time of the 787 on certain routes when it approves a revamped battery system. The plane was grounded worldwide two months ago after lithium-ion batteries overheated on two separate aircraft.

Air Canada pension deficit estimate falls on higher plan returns

TORONTO (Reuters) - Air Canada said a preliminary estimate of its pension solvency deficit has dropped to C$3.7 billion ($3.6 billion) from C$4.2 billion a year ago, reflecting a better-than-expected 14 percent return on plan assets. Canada's largest carrier said in a recently filed annual information form that the estimate, as of January 1, 2013, was hurt by a decrease in the solvency discount rate to 3 percent from 3.3 percent. Valuations to determine the actual deficit will be completed in the first half of 2013.

Cyprus readies capital controls to avert bank run

NICOSIA (Reuters) - Cyprus is expected to complete capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders. Cypriots have taken to the streets of Nicosia in their thousands to protest at a bailout deal that they fear will push their country into an economic slump and cost many their jobs. European leaders said the deal averted a chaotic national bankruptcy that might have forced Cyprus out of the euro.

Monsanto, DuPont strike $1.75 billion licensing deal, end lawsuits

(Reuters) - DuPont Co

will pay Monsanto Co at least $1.75 billion in a new licensing deal and both companies have agreed to dissolve their bitter legal battles over rights to technology for genetically modified seeds, the world's top seed companies said on Tuesday. The companies agreed to drop antitrust and patent claims against each other while forging the new collaboration, and agreed to toss out a $1 billion jury verdict DuPont was ordered to pay Monsanto last August.

Bank of Canada officials urges more central clearing of repos

MONTREAL (Reuters) - Bank of Canada Deputy Governor Agathe Cote made no mention of monetary policy in a speech on Tuesday that focused on ways Canadian authorities are strengthening financial markets infrastructure to lessen the risk of future crises. Cote said Canada needed to make more progress in clearing repos, or repurchase transactions, centrally through the Canadian Derivatives Clearing Corporation (CDCS).

Exclusive: Linux users file EU complaint against Microsoft

MADRID (Reuters) - A Spanish association representing open-source software users has filed a complaint against Microsoft Corp to the European Commission, in a new challenge to the Windows developer following a hefty fine earlier this month. The 8,000-member Hispalinux, which represents users and developers of the Linux operating system in Spain, said Microsoft had made it difficult for users of computers sold with its Windows 8 platform to switch to Linux and other operating systems.

Source: http://news.yahoo.com/ca-business-summary-000757996--finance.html

roger federer Olga Korbut Usain Bolt 2012 Olympics Katie Ledecky Aaron Ross Sikh temple Nastia Liukin

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.