MP switches parties, weakening opposition
OTTAWA (Reuters) ? A legislator quit Canada's main opposition New Democrats on Tuesday, adding to the problems of a left-leaning party that has failed to impress since a record-breaking performance in the May 2011 election. Lise St-Denis, a parliamentarian from Quebec, said she was defecting to the centrist Liberals because she preferred the Liberal positions on the economy and the environment.
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.
Housing starts jump in December
TORONTO (Reuters) - Canadian housing starts climbed more than expected in December, fueled by low mortgage rates and a boom in condo construction, even as analysts predicted the once-hot sector would cool further in 2012. Housing starts rose to a seasonally adjusted annualized rate of 200,200 units from an upwardly revised 185,600 units a month earlier, Canada Mortgage and Housing Corp said on Tuesday.
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.
Analysis: Canadian labor under fire as costs weigh
TORONTO/VANCOUVER (Reuters) - Canadian labor relations are getting ugly as companies look to cut costs inflated by a strong Canadian dollar and workers seek to reap rewards from a relatively strong domestic economy. The battle is in focus thanks to two high-profile lockouts by companies seeking concessions, including pay cuts, from unionized workers. It will broaden once talks start later this year in the auto sector as it extends its recovery from the 2009 bankruptcies of two of the U.S. Big Three automakers, with the potential for more disputes.
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.
Lululemon raises profit forecast, shares jump
TORONTO (Reuters) - Lululemon Athletica expects profit and sales in the current quarter to top earlier forecasts after holiday shoppers flocked to its shops to snap up the trendy yoga wear that have made the company a runaway retail success story. Shares of the Vancouver-based retailer jumped 15 percent on Tuesday after the fresh forecast, which validated the optimism of observers who had thought the company's earlier sales forecast was too conservative.
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