Business Canada

  • Oct 11- New home prices in Canada rose 0.2 percent in August from the previous month, following a 0.1 percent month-on-month increase in July, Statistics Canada said on Thursday. In the combined metropolitan region of Toronto and Oshawa, market conditions drove up prices, which contributed to the overall gain. Following are the percentage changes:.

  • Oct 11- Canada's main stock index looked set to open higher on Thursday, on expectations that Spain would be pressured to seek a sovereign bailout after S&P downgraded it to just one notch above junk. *The IMF backed giving debt-burdened Greece and Spain more time to reduce their budget deficits, cautioning that cutting too far, too fast would do more harm than good.

  • *A Canadian naval intelligence officer pleaded guilty to spying for Russia, a public admission of an embarrassing espionage scandal that has damaged Canada's reputation among allies and will likely reverberate for years.

  • NEW YORK-- The McGraw-Hill Companies Inc. said Thursday that its Platts division is buying Swiss analytics firm Kingsman SA for an undisclosed price. Founded in 1990 and based in Lausanne, Switzerland, Kingsman employs analysts, researchers and report writers in several markets, including London, Montreal, New Delhi and Sao Paulo.

  • NEW YORK-- Safeway Inc. is betting that its investment in a new customer loyalty program will eventually pay off, as the supermarket operator looks to fend off big-box retailers and other competitors that are expanding their grocery aisles.

  • Home prices have soared in Canada, raising concerns of a market crash, and making the housing market a key risk to the country's financial outlook. Statistics Canada data shows that new home prices in Canada were up 0.2 percent in August for a 17th straight month-on-month increase.

  • NEW YORK-- The NHL and the players' association resumed meetings Thursday to try to end the monthlong lockout. Although it has been a week since the NHL called off the first two weeks of the regular season, that sting will be felt full force Thursday when what should have been opening day passes without a puck hitting the ice.

  • *ING's first deal in Asia asset sell-off. HONG KONG/ AMSTERDAM, Oct 11- Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.

  • OTTAWA, Oct 10- Canada should allow China's state-owned CNOOC Ltd to buy Canadian oil company Nexen Inc, a former central bank chief said on Wednesday, brushing aside arguments that oil is a "strategic" resource off-limits to foreigners.

  • *ING's first deal in Asia asset sell-off. HONG KONG/ AMSTERDAM, Oct 11- Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.

  • SPOKANE, Wash.-- A federal judge in Yakima will decide whether a Canadian mining company must pay to clean up pollution that for decades crossed the border into Lake Roosevelt in Washington. U.S. District Court Judge Lonny Suko heard motions on the lawsuit Wednesday and said he will issue a decision later this year.

  • AMSTERDAM, Oct 11- ING said it has agreed to sell its Malaysian insurance unit to pan-Asian insurer AIA Group Ltd for 1.3 billion euros in cash, kicking off the Dutch group's long-awaited divestment of Asian assets.

  • AMSTERDAM, Oct 11- ING said it has agreed to sell its Malaysian insurance unit to pan-Asian insurer AIA Group Ltd for 1.3 billion euros in cash, kicking off the Dutch group's long-awaited divestment of Asian assets.

  • VANCOUVER, Oct 10- Enbridge Inc needs to do a better job of communicating to most British Columbians and other Canadians the merits of its contentious Northern Gateway oil pipeline planned for the Western Canadian province, a senior company official said on Wednesday.

  • --The Carlyle Group is acquiring Landmark Aviation for $625 million, funded mostly with debt. --We are assigning our' B-' corporate credit rating to LM U.S. Member LLC. On Oct. 10, 2012, Standard& Poor's Ratings Services assigned its' B-' corporate credit rating to LM U.S. Member LLC (along with co-borrower LM U.S. Corp Acquisition Inc.).

  • MONTREAL, OTTAWA, Oct 10- Quebec's new government on Wednesday abandoned a controversial plan to hike taxes on capital gains and dividends and softened its proposed new tax regime for the rich, keeping income tax rates below 50 percent after a public outcry.

  • TORONTO, Oct 10- Canada's main stock index hit its lowest closing level in nearly five weeks on Wednesday, driven downward by falling financial and energy shares after the start of the U.S. earnings season flashed mixed signals for the global economy. posting a quarterly net loss and a weaker consumption outlook for China, while Chevron's.

  • Those wildly contrasting conclusions were offered to the New Jersey Sports and Exposition Authority on Wednesday by the two warring parties in the bitter dispute, the New York Giants and Triple Five Group, the developer that took over the troubled project last year.

  • TORONTO, Oct 10- Canada's main stock index hit its lowest closing level in nearly five weeks on Wednesday, driven downward by falling financial and energy shares after the start of the U.S. earnings season flashed mixed signals for the global economy. The Toronto Stock Exchange's S&P/TSX composite index.

  • WASHINGTON, Oct 10- At least 130 projects that capture and store carbon emissions at coal power and industrial plants must come online by 2020 if the world is to stay on course to keeping the rise in global temperatures below a threshold deemed dangerous by scientists, a new report released Wednesday said.