U.S., Canada to set security deal at White House
(Reuters) ? The United States and Canada are scheduled to announce a new security agreement next Wednesday designed to lower obstacles between the two nations while ensuring the perimeter around them is secure. President Barack Obama and Prime Minister Stephen Harper are set to unveil the agreement after a meeting at the White House on Wednesday afternoon.
Expanding oil exports top priority: Canadian minister
TORONTO (Reuters) - Canada believes the United States will ultimately approve TransCanada Corp's proposed Keystone XL pipeline, which Washington put on hold last month amid fierce environmental opposition, Natural Resources Minister Joe Oliver said on Friday. The $7 billion oil pipeline to Texas from Alberta, as well as a new pipeline to Canada's West Coast, are crucial to preventing a costly bottleneck in export capacity over the next four to seven years as oil sands production jumps, Oliver said.
Enbridge gets first aboriginal partner for Gateway
CALGARY, Alberta (Reuters) - The Gitxsan First Nation said on Friday it has agreed to become the first aboriginal partner for Enbridge Inc's C$5.5 billion ($5.42 billion) Northern Gateway oil pipeline, one day after other native groups in British Columbia pledged to block the project. Elmer Derrick, a hereditary chief of the Gitxsan, said in a statement that the group had decided to take an equity stake in the line. Enbridge will finance the purchase.
Enbridge sees native support for Gateway pipeline
TORONTO (Reuters) - Enbridge Inc expects to win support for its C$5.5 billion ($5.4 billion) Northern Gateway oil pipeline from a majority of native communities along the proposed route based on current negotiations, an executive said on Friday. The company has signed deals with some aboriginal groups for an overall 10 percent equity stake in the project, which would carry oil sands-derived crude to the West Coast from Alberta, Enbridge Vice-President Janet Holder said during a conference call to discuss one agreement.
Jobless rate unexpectedly rises in November
OTTAWA (Reuters) - Canada's economy unexpectedly lost jobs for a second straight month in November, raising concern that weakness in other countries may do lasting harm to an economy that has so far been surprisingly robust. Net job losses totaled 18,600 jobs in the month following a hefty 54,000 drop in October, Statistics Canada said on Friday, pointing to a poor economic performance in the final quarter of the year.
RIM caps dismal year with another profit warning
TORONTO (Reuters) - Research in Motion booked a huge charge to write down inventories of its unloved PlayBook tablet on Friday, capping a dismal year with a steep profit warning that sent its shares tumbling almost 10 percent. Waterloo, Ontario-based RIM, the company whose now ubiquitous BlackBerry created the concept of on-the-go email, said it no longer expects to meet its full-year earnings forecast due to weak sales, the PlayBook writedown and a charge related to a damaging service outage in October.
RIM is "national jewel" worthy of support: minister
NEW YORK (Reuters) - BlackBerry smartphone maker Research In Motion is a national "jewel" worthy of support, Canada's industry minister said on Friday, insisting that Canada is open to foreign investment even though it blocked a $39 billion potash deal last year. "RIM is a Canadian jewel," Christian Paradis told Reuters in an interview in New York on Friday, speaking in his native French. "I think we have to support companies like RIM."
Natives to oppose West Coast oil pipelines
(Reuters) - Aboriginal groups in the Canadian Pacific province of British Columbia said on Thursday they had formed a united front to oppose all exports of crude oil from the Alberta tar sands through their territories. The declaration is another political blow to the Canadian energy sector and Canada's right-of-center Conservative government after Washington decided last month to delay approving a pipeline carrying oil sands crude to the Gulf Coast.
RBC PMI shows slower manufacturing growth
TORONTO (Reuters) - Canadian manufacturing growth slowed in November to the weakest level in four months as worsening global economic conditions took a toll on the domestic environment, data on Thursday showed. The RBC Canadian Manufacturing Purchasing Managers' Index came in at 53.31 in November, above the level of 50 that separates expansion from contraction.
TSX ends lower but posts big weekly gain
TORONTO (Reuters) - Toronto's main stock index closed lower on Friday as investors booked some profits after the TSX notched its biggest weekly gain in more than two years on optimism that steps were being taken to resolve Europe's debt crisis. The mining-heavy materials sector dragged the index lower, as shares of gold miners slid despite spot gold edging higher to post its largest weekly gain in more than a month.
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