Business Canada

  • WASHINGTON, Oct 31- A U.S. free trade agreement with Panama went into force on Wednesday, five years after it was originally negotiated, opening the way for increased U.S. exports as the Central American country continues its canal expansion project.

  • WASHINGTON, Oct 31- The Pentagon on Wednesday said it would continue to support ``large numbers'' of BlackBerry phones made by Research in Motion Ltd even as it moves forward with plans that would allow the U.S. military to begin using Apple Inc's iPhone and other devices.

  • JERUSALEM/ WINNIPEG, Manitoba, Oct 31- Potash Corp, the world's No. 1 fertilizer producer, is ramping up efforts to buy Israel Chemicals Ltd so it can shore up its leverage with China and India, top consuming countries that are expected to drive much of the industry's growth.

  • OTTAWA, Oct 31- Bank of Canada Governor Mark Carney, on the heels of telling markets that an interest rate hike was not imminent, offered several reasons on Wednesday for why the central bank has kept rates exceptionally low.

  • OTTAWA, Oct 31- Canada is likely to extend its review of the $15.1 billion bid by China's CNOOC Ltd for oil producer Nexen Inc beyond next week's deadline to allow more time for the government to formulate a broad framework on foreign investment, two sources close to the matter said on Wednesday.

  • *Plaintiffs filed lawsuits in Canada and Brazil this year. QUITO/ BUENOS AIRES, Oct 31- Ecuadorean plaintiffs plan to sue Chevron in Argentina and Colombia to collect a $19 billion award for pollution in the Amazon that has become one of the world's most high-profile environmental cases against an oil company.

  • TORONTO, Oct 31- Research In Motion said on Wednesday it has begun carrier testing of its new line of BlackBerry 10 devices, a crucial step ahead of next year's launch of the make-or-break line of smartphones.

  • NEW YORK, Oct 31- The euro drifted higher against the dollar and yen on Wednesday and posted its third straight month of gains, but uncertainty about the heavily indebted euro-zone economies could limit further strength.

  • *Lumber futures rise the $10 daily limit. *Home Depot shares rise on expected rebuilding. Trade sources said the home-rebuilding process in the northeastern United States, which bore the brunt of Sandy, could stretch well into 2013, keeping demand for lumber robust.

  • *Hess 70,000 bpd Port Reading plant still powerless; Ontario back. *EPA grants diesel fuel standard waiver for New Jersey. Oct 31- East Coast fuel supplies seemed set to remain tight into next week, as spotty electrical power and flooding damage stymied the recovery of two New Jersey refineries after Hurricane Sandy.

  • *Lumber futures rise the $10 daily limit. Trade sources said the home-rebuilding process in the northeastern United States, which bore the brunt of Sandy, could stretch well into 2013, keeping demand for lumber robust.

  • HOUSTON, Oct 31- Increased access to cheaper crude oil from the United States and Canada boosted Phillips 66' s quarterly profits above analyst expectations after the U.S. refining company spun off from ConocoPhillips earlier this year, the company reported on Wednesday.

  • *Cleveland Clinic compiles annual list of top innovations. Oct 31- The best medical innovations for next year include an almond-size device implanted in the mouth to relieve severe headaches and a handheld scanner resembling a blow dryer that detects skin cancer, the Cleveland Clinic said on Wednesday.

  • JERUSALEM, Oct 31- Potash Corp, the world's No. 1 fertilizer maker, is ramping up efforts to buy Israel Chemicals Ltd, appealing directly to Israel's prime minister to back a deal that would rank as the largest foreign takeover of an Israeli company.

  • *Bank of Canada seen on hold for longer. OTTAWA, Oct 31- The Canadian economy shrank in August for the first time in six months, an unexpected contraction that pointed to a sharp slowdown in third-quarter growth and reinforced the Bank of Canada's message that interest rate hikes are less imminent.

  • OTTAWA, Oct 31- Canada is likely to extend its review of the $15.1 billion bid by China's CNOOC Ltd for oil producer Nexen Inc beyond next week's deadline to allow more time for the government to formulate a broad framework on foreign investment, two sources close to the matter said on Wednesday.

  • WASHINGTON-- Amtrak says it plans to restore some service on Friday to and from New York City, which has been without intercity train service since it was walloped by superstorm Sandy.

  • *Plaintiffs filed lawsuits in Canada and Brazil this year. QUITO, Oct 31- Ecuadorean plaintiffs plan to file a lawsuit against Chevron in Argentina, their third legal attempt outside the Andean country to enforce a $19 billion ruling against the U.S. oil company for pollution in the Amazon, a source with direct knowledge of the case said.

  • Gains in equity markets early in the day had lifted the euro above $1.30, but momentum faded as Wall Street turned negative and uncertainty remained about how to keep Greece afloat and when Spain may ask for a bailout.

  • Oct 31- Astral Media Inc reported a higher quarterly profit on Wednesday as revenue rose across its business segments. BCE Inc, Bell Canada's parent, agreed in March to buy Astral, its largest content provider. On Wednesday afternoon, Astral shares were down 1.3 percent at C $41.30 on the Toronto Stock Exchange.