Flaherty tells Europe to fight crisis with own money
NEW YORK (Reuters) ? European leaders should not expect outside help until euro zone countries have put up more of their own resources to try to stem their financial crisis, Canada's finance minister said on Wednesday. Finance Minister Jim Flaherty said it was not the right time for euro zone countries to turn to the International Monetary Fund for help.
Harper welcomes Q3 GDP, concerned about Europe
(Reuters) - Prime Minister Stephen Harper on Wednesday welcomed strong third-quarter economic growth figures but expressed concern about the European debt crisis. The Canadian economy grew by a faster-than-expected 3.5 percent, annualized, in the third quarter, according to Statistics Canada data released earlier on Wednesday.
Canada natives sue Shell over oil sands funding
TORONTO (Reuters) - A Canadian native group is suing Royal Dutch Shell Plc for what it said was a failure by the oil major to live up to environmental funding agreements tied to Shell's massive northern Alberta oil sands developments. The Athabasca Chipewyan First Nation seeks C$1.5 million ($1.47 million) from Shell for allegedly blocking requests for money to be used for sustainable development and education initiatives in the community under agreements made in 2003 and 2006.
TSX has biggest jump in more than 2 years
TORONTO (Reuters) - Toronto's main stock index jumped more than 4 percent on Wednesday in its biggest single-day gain in more than two years, pushed up by an agreement by global central banks to tackle the euro-zone debt crisis and by a move by China to ease credit. The move by the TSX index mirrored hefty gains on other global markets as central banks from the world's leading economies, including the Bank of Canada, the U.S. Federal Reserve and the European Central Bank, agreed to lower the cost of dollar swap lines by 50 basis points, as well other measures.
Toronto Stock Exchange hit by trading glitch
TORONTO (Reuters) - TMX Group said on Wednesday that trading has resumed in all shares on the Toronto Stock Exchange after an unexplained glitch froze trading of companies whose symbols started with the letters M to Z. The operator of Canada's largest stock exchange said it was still investigating the cause of the technical failure, but it ruled out hacking.
Ottawa raises "serious concerns" about TMX-Maple deal
TORONTO (Reuters) - Canada's competition regulator has "serious concerns" about a C$3.8 billion ($3.7 billion) proposal to take over TMX Group, a deal that would bring most of the country's financial exchanges under one roof. Maple Group's bid would unite the Toronto Stock Exchange and the TSX Venture Exchange for small-cap stocks with their largest competitor, Alpha Group, a so-called alternative trading system. Maple is also seeking to put the exchanges under the same umbrella as CDS, which clears and settles all trades in Canada.
Hackers jailbreak RIM's PlayBook
TORONTO (Reuters) - Three hackers say they have exploited a vulnerability in Research In Motion's PlayBook tablet to gain root access to the device, a claim that could damage the BlackBerry maker's hard-won reputation for security. Root access means a user has permission to alter any file or program on a device and can control hardware functions.
Oil sands opponents turn focus to Enbridge project
CALGARY, Alberta (Reuters) - Enbridge Inc's proposed C$5.5 billion ($5.3 billion) pipeline to British Columbia poses a raft of environmental risks, according to a new report that signals the project will become the next battleground over the future of Canada's oil sands. The study by a trio of environmental groups, released on Tuesday, comes on the heels of a U.S. decision to push back approval of TransCanada Corp's Alberta-to-Texas Keystone XL pipeline by more than a year.
Cenovus say research proves Weyburn CO2 project safe
(Reuters) - Cenovus Energy Inc said on Tuesday studies have confirmed that carbon dioxide sequestered underground at its Weyburn, Saskatchewan, field has not been leaking or causing high concentration of the gas at a neighboring property. The company said independent research proved that carbon dioxide injected into its oil field to boost production and remove the gas from the atmosphere was not escaping.
Canada mum on telecom spectrum rules, ownership
TORONTO (Reuters) - Canada has yet to decide whether it will loosen foreign ownership restrictions in the telecom sector, Industry Minister Christian Paradis said on Tuesday. Nor has the Conservative government decided if it will set aside airwaves for recent wireless entrants in next year's spectrum auction as a way to boost competition, Paradis said.
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