Canada blasts foreign "radicals" opposing pipeline
OTTAWA (Reuters) ? On the eve of public hearings into a proposed oil pipeline from Alberta's tar sands to the Pacific Coast, the Canadian government lashed out on Monday at what it said were foreign-funded radical groups opposing the project. The comments by Natural Resources Minister Joe Oliver were another sign of the pressures mounting against Enbridge Inc's proposed C$5.5 billion ($5.4 billion) Northern Gateway pipeline.
Canada to speed up pace of some spending cuts: report
OTTAWA (Reuters) - The government plans to double the pace of spending cuts in some major ministries as part of its plans to eliminate the federal deficit, the Canadian Broadcasting Corp said on Monday. Ottawa has already told government departments and agencies to come up with two scenarios, one that cuts costs by 5 percent and another by 10 percent over four years. Officials said late last year the 10 percent scenario was the most likely.
Bank of Canada survey shows hiring intentions rise
OTTAWA (Reuters) - Canadian companies plan to hire more staff in the coming year, particularly in the West, but an increasing number of firms are pessimistic about the rate of sales growth, the Bank of Canada's winter business survey showed on Monday. "The global economic outlook and concerns about demand continue to weigh on firms' expectations for business activity," the report said.
Ottawa may face C$15 billion suit over Wheat Board
(Reuters) - A Saskatchewan lawyer said on Monday that he will file a C$15.4 billion ($15 billion) class action lawsuit against the Canadian government over the dismantling of the Wheat Board's grain marketing monopoly. But Agriculture Minister Gerry Ritz called the proposed legal action "baseless" and said it would not affect Ottawa's moves to overhaul the Wheat Board and create an open grain market in Western Canada.
Investor to launch proxy battle versus Canadian Pacific
TORONTO (Reuters) - William Ackman's Pershing Square Capital Management is putting together a slate of proposed directors to replace the board of Canadian Pacific Railway Ltd, the activist investor said on Monday. Ackman's plan to launch a proxy battle to replace CP's board was revealed hours after CP's chairman publicly threw the firm's full weight behind Chief Executive Fred Green and his plan to improve its operating performance.
Body found in Ivory Coast may be missing reporter
PARIS (Reuters) - Investigators in Ivory Coast have unearthed a body which they say may belong to Franco-Canadian journalist Guy-Andre Kieffer, who went missing in country's economic capital Abidjan in 2004, his brother told France 3 television on Friday. The team of French and Ivorian investigators have sent samples from the body, exhumed in the Issia region several hundred kilometers (miles) to the northeast of Abidjan, to France for genetic identification tests.
17,500 jobs added in December, but jobless rate up
OTTAWA (Reuters) - Canada gained 17,500 jobs in December, but the jobless rate rose and the new positions were all part time, further evidence its post-recession hiring surge has ended even as U.S. jobs growth finally picks up the pace. Statistics Canada data on Friday showed that the new jobs were not enough to offset the previous two months of declines.
Economy seen growing, but global risks loom
TORONTO (Reuters) - Canada will likely see a second year of modest economic growth in 2012, but is highly vulnerable to turmoil in Europe, the United States and elsewhere, some of Canada's top economists predicted on Thursday. The country, which fared better than most major Western economies in the global financial crisis, could also lag U.S. growth for the first time since the recession.
Lululemon founder to step down
TORONTO (Reuters) - Yogawear retailer Lululemon Athletica Inc said on Friday that its charismatic founder Chip Wilson will step down from his executive position. Wilson, who founded Lululemon in 1998, will leave his post as chief innovation and branding officer for the Vancouver-based chain effective January 29, and stay on as chairman of the board.
RIM close to stripping CEOs of chairmanship: report
TORONTO (Reuters) - Research In Motion is close to a decision on stripping its co-chief executives of their other shared role as chairman of the board, a newspaper said on Tuesday, a change that could meet a key demand from angry and disillusioned investors. The National Post newspaper, citing "sources familiar with events," said Barbara Stymiest, currently an independent member of RIM's board, is leading the race to replace Mike Lazaridis and Jim Balsillie in the chairmanship.
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