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Canada


Financial News

Carney Says Bank Dropping Inflation Wording Didn't Signal Shift in Risk The Bank of Canada was not signaling a shift in the balance of risks to its inflation forecast posed by the economic outlook when it dropped a reference to those risks in its March 2 interest rate announcement, Bank of Canada Governor Mark Carney said.

Thanachart, Backed by Scotiabank, to Pay $2.1 Billion for Siam City Bank Thanachart Bank Pcl, a Thai lender partly owned by Canada’s Bank of Nova Scotia, will pay about C$2.2 billion ($2.14 billion) for Siam City Bank Pcl in a two- step purchase to become Thailand’s fifth-biggest bank.

Prime Minister Harper Says Canada Economy Already Starting to Create Jobs Canadian Prime Minister Stephen Harper said the country’s economy has already started to create jobs, and pledged to extend stimulus measures until the recovery is firmly rooted.

Canada's Parliamentary Budget Officer Page Sees Slower Deficit Reduction Canada’s budget deficit will narrow at a slower pace than projected by Finance Minister Jim Flaherty as growth of corporate income tax revenue lags and higher interest rates increase the cost of servicing debt, the country’s budget office said.

Toronto to Sell 30-Year Bonds for First Time Since 1980s: Canada Credit Toronto, Canada’s largest city, plans to sell 30-year bonds for the first time since the 1980s to take advantage of federal government matching funds for infrastructure projects.

Carney Cites Importance of Central Bank Research and Rule-based Policies Bank of Canada Governor Mark Carney stressed the importance of economic research and principle-based policy frameworks a day after appointing a young academic as the bank’s next deputy governor.

Canadian Stocks Rise as Commodity Futures Rebound; RIM, Barrick Advance Canadian stocks gained for a second day, led by gold producers, as commodity prices rebounded from a one-week low.

Kinross Agrees to Buy All Underworld Resources Shares in Stock-Cash Deal Kinross Gold Corp., Canada’s third- largest producer of the metal, agreed to pay C$2.62 ($2.55) a share for full control of Underworld Resources Inc. to gain properties in the country’s Yukon Territory.

Valero Energy Plans to Build a 100,000 Barrel-a-Day Pipeline in Quebec Valero Energy Corp. plans to build a 100,000-barrel-a-day pipeline between its refinery near Quebec City and a fuel storage site on the island of Montreal, the company said.

Canada January Trade Surplus Is Wider Than Expected, Q4 Capacity Use Rises Canada posted a wider-than-expected trade surplus in January as exports rose and imports fell, while companies’ use of their production capacity increased in the fourth quarter.

General News

U.S. Agency Criticized in Toyota Recall Had Funding Shortage, Dingell Says The U.S. National Highway Traffic Safety Administration, faulted for its handling of Toyota Motor Corp.’s vehicle defects, “suffered years of stagnation in funding,” Representative John Dingell said today.

Quake, Aftershocks Cripple Chilean President Pinera's Plan to Spur Economy Sebastian Pinera was inaugurated as Chile’s president today minutes after powerful earthquakes shook buildings in Santiago and Valparaiso, stirring memories of last month’s devastating 8.8-magnitude temblor.

Slim Overtakes Gates, Buffett to Top Forbes List of World's Richest People Mexico’s Carlos Slim beat Bill Gates and Warren Buffett for the top spot on Forbes magazine’s annual list of billionaires, becoming the first person from outside the U.S. to lead the rankings in 16 years.



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