TSX slides as mining, energy issues stumble
TORONTO (Reuters) - Canada's main stock market finished lower on Friday as natural resource stocks slumped and market sentiment soured following U.S. economic growth data that fell short of expectations. U.S. gross domestic product expanded at a 2.5 percent rate, an increase from the fourth quarter's dismal 0.4 percent pace but shy of the 3 percent growth analysts were hoping for. The weaker-than-expected data in Canada's biggest trading partner weighed on Canadian stocks.
Ethiopian Airlines first to fly 787 Dreamliner since grounding
ADDIS ABABA (Reuters) - Ethiopian Airlines on Saturday became the world's first carrier to resume flying Boeing Co's 787 Dreamliner passenger jets, landing the first commercial flight since the global fleet was grounded three months ago following incidents of overheating in the batteries providing auxiliary power. The flight from Addis Ababa to Nairobi was the first since regulators grounded all Dreamliners on January 16 after two lithium-ion battery meltdowns that occurred on two jets with other airlines within two weeks that month.
Italian court rejects Nomura seizure order: sources
SIENA, Italy (Reuters) - An Italian judge has rejected an order to seize around 1.8 billion euros ($2.3 billion) of assets from Nomura as part of a probe into suspected fraud involving troubled lender Monte dei Paschi di Siena , legal sources said on Saturday. Assets worth 140 million euros that were already seized from the Japanese bank have been released under the judge's ruling, which was made on Friday, the judicial source said.
Merger of drugmakers Valeant, Actavis on hold: source
(Reuters) - A proposed merger of Valeant Pharmaceuticals International Inc and Actavis Inc was put on hold after the two drugmakers failed to agree on terms of a deal that would have created a healthcare giant with a combined market value of $35 billion, a person familiar with the situation told Reuters on Saturday. Actavis spokesman David Belian and Valeant spokeswoman Laurie Little both declined to comment.
Vodafone investors want bigger bid or full takeover by Verizon
LONDON (Reuters) - Six major Vodafone investors said $100 billion was not enough for the British company's stake in its U.S. joint venture with Verizon Communications , and urged the latter to come up with an offer of at least $120 billion. Their comments followed a Reuters report on Wednesday that Verizon had hired advisers to prepare a possible $100 billion bid to buy Vodafone's 45 percent stake in their Verizon Wireless joint venture, likely to be structured as a roughly 50:50 cash and stock bid.
Renault hopes to have approval for Chinese plant by summer: CEO
PARIS (Reuters) - Renault-Nissan hopes to receive final approval from Beijing by the summer to build its first Renault plant in China, Chief Executive Carlos Ghosn said on Saturday. Ghosn had said last month he expected final government approval for the plant by the end of the year.
Volkswagen committed to European plants: CEO
VIENNA (Reuters) - German carmaker Volkswagen will keep its plants in Europe despite weak markets in the region that will require flexible manufacturing and could entail cuts to temporary staff, Chief Executive Martin Winterkorn said. Winterkorn had told shareholders in Europe's top carmaker on Thursday to brace for a tough year given faltering European consumer demand that is punishing the sector.
Boeing ready to build seven Dreamliners a month by mid-year
TOKYO (Reuters) - Boeing Co said on Saturday it is ready to build seven 787 Dreamliners a month from mid-year and is still on course for 10 per month by the end of the year. On Friday, Japanese authorities gave Japan Airlines and All Nippon Airways the green light to fly the grounded Dreamliner following U.S. approval.
TransCanada sees Keystone XL delayed till second-half 2015
CALGARY, Alberta (Reuters) - TransCanada Corp , Canada's No. 2 pipeline company, said on Friday the long wait for U.S. government approval of its controversial Keystone XL project will further delay completion of the pipeline and push its cost above the company's $5.3 billion estimate. TransCanada, which reported a 27 percent rise in first-quarter profit on Friday, is waiting for the Obama administration to issue a presidential permit for construction of the line, which is designed to carry 830,000 barrels a day of Canadian and U.S. crude oil to refineries on the Gulf of Mexico coast.
Exclusive: Brazil's Vale says signs accord to quit Argentine Potash project
RIO DE JANEIRO (Reuters) - Global miner Vale SA signed an agreement with the Argentine government on Friday that will allow the Brazilian company to leave the $6 billion Rio Colorado potash mining project, a company spokeswoman told Reuters on Friday. The agreement could put an end to months of uncertainty for Vale , which suspended work on the fertilizer project in December and announced its intention to pull out in March.
Source: http://news.yahoo.com/ca-business-summary-012012257.html
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