Canada

Financial News

Carney Says Recent Data Doesn't Alter Profile of Canada's Economic Rebound Governor Mark Carney said today there’s nothing in recent Canadian economic data that would change the “profile” of the Bank of Canada’s projections, even though they may suggest a “softer” recovery.

Canada Loses 43,200 Jobs in October, Unemployment Rate Increases to 8.6% Canadian employers unexpectedly fired workers in October and the unemployment rate rose more than forecast, suggesting the U.S.’s largest trading partner hasn’t fully recovered from the recession that began last year.

Suncor to Sell Up to $3.7 Billion in Assets, Tighten Focus on Oil Sands Suncor Energy Inc., which bought Petro-Canada in August, plans to sell as much as C$4 billion ($3.7 billion) in assets to focus on developing northeastern Alberta’s oil sands.

Magna Surges Most Since 1991 After Profit Bucks Analysts' Loss Estimates Magna International Inc., the auto- parts supplier that tried to buy a majority stake in General Motors Co.’s Opel unit, rose the most since 1991 in Toronto after reporting an unexpected third-quarter profit.

Gold Tops $1,100 on Increasing Speculation Low Rates to Drive Down Dollar Gold futures jumped to a record, topping $1,100 an ounce, on mounting speculation that low U.S. borrowing costs will drive down the dollar, boosting the appeal of the precious metal as an alternative investment.

Telus Profit Beats Estimates as Customers Spend More on Internet, E-Mail Telus Corp., the Vancouver-based wireless carrier, said third-quarter profit fell as its customers made fewer calls from their mobile phones.

Canadian Stocks Rise, Led by Metals Producers, as Gold Rallies to Record Canadian stocks rose for a fourth day, led by gold producers, as bullion prices rallied to a record and Magna International Inc. reported a surprise quarterly profit.

Canada's Dollar Tumbles as Employers Unexpectedly Cut Payrolls in October Canada’s dollar fell after employers unexpectedly cut jobs in October and a report in Washington showed the U.S. unemployment rate rose to a 26-year high, casting doubt on the economic recovery’s strength.

Scotia Capital Expects `Active' Year for Mining Mergers, New Stock Sales Global mining companies will be “extremely active” making acquisitions next year, helping drive an increase in new stock sales, said Adam Waterous, Scotia Capital’s global head of investment banking.

GM, Ford Parts Supplies to Resume in Oakville as Rico Strike Ends in India General Motors Co. and Ford Motor Co. will receive normal supplies of auto components from an Indian vendor starting next week after a 45-day strike at the producer ended.

General News

Toronto Wins Right to Host 2015 Pan American Games, Beating Lima, Bogota Toronto won the right to host the 2015 Pan American Games, beating out bids from Lima and Bogota in the first round of voting.

Grmovsek to Be Sentenced to 39 Months in Jail for Insider Trading Scheme Stan Grmovsek, a former Canadian stock trader, will be sentenced to 39 months for illegally using inside information on pending mergers and acquisitions, a judge said. It will be the longest term ever imposed for insider trading in Canada.

Two NATO-Led Troops Missing in Afghanistan; Taliban Claims to Have Bodies Two members of NATO’s International Security Assistance Force went missing while on patrol in western Afghanistan, ISAF said today.

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