Business Canada

  • NEW YORK-- The owner of Olive Garden and Red Lobster restaurants is putting more workers on part-time status in a test aimed at limiting costs from President Barack Obama's health care law. Darden Restaurants Inc. declined to give details but said the test is only in four markets across the country.

  • MUMBAI, Oct 9- A film based on Salman Rushdie's novel "Midnight's Children" is set to be screened in India, its distributor said, a month after the movie's director said she feared "insecure politicians" could prevent it from being shown.

  • TORONTO, Oct 9- The Bank of Canada said on Tuesday it plans to sell C $2.1 billion of 23- day treasury bills in a cash management auction on Oct. 10.

  • TORONTO, Oct 9- Canada's main stock index opened lower on Tuesday, following U.S. markets lower as investors were cautious about the upcoming earnings season and prospects for global growth. The Toronto Stock Exchange's S&P/TSX composite index. opened down 3.31 points to 12,415.68, before moderately extending losses to 12,381.06.

  • --Canada- based in-store media company Mood Media Corp. is proposing to issue $350 million of senior unsecured notes. --We understand that Mood Media will use the proceeds to prepay some of its outstanding debt as well as to fund acquisitions.

  • *Says has acquired savage bmw/mini of Ontario, located in Ontario, California. Penske Automotive Group, Inc., an international automotive retailer, today announced that the Company has acquired Savage BMW/MINI of Ontario, located in Ontario, California.

  • *The euro zone economy faces a long, uphill road to recovery and the bloc is still suffering from a crisis of confidence, European Central Bank President Mario Draghi said. *Euro zone finance ministers believe that Spain's budget cuts should take into account its weak economy, Spain's economy minister said, adding Madrid would work to limit economic recession.

  • TORONTO, Oct 9- Canadian housing starts slowed in September as multiple urban starts slumped, particularly in Ontario, in line with expectations that housing construction will ease as the year progresses, Canada Mortgage and Housing Corp said on Tuesday.

  • TORONTO, Oct 9- Canadian housing starts slowed in September as multiple urban starts slumped, particularly in Ontario, in line with expectations that housing construction will ease as the year progresses, Canada Mortgage and Housing Corp said on Tuesday.

  • HOFFMAN ESTATES, Ill.-- Sears expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoff of its Hometown and Outlet stores. Sears Holdings Corp. had signaled in February that it would split off the companies as a separate publicly traded entity.

  • TORONTO, Oct 9- Canadian housing starts slowed in September as multiple urban starts slumped, particularly in Ontario, in line with expectations that housing construction will ease as the year progresses, Canada Mortgage and Housing Corp said on Tuesday.

  • Oct 9- Novus Energy Inc:. *Announces an increase to its credit facilities and an update on its Alberta viking oil land position. *Says its current credit facility of $65 million is being expanded to $85 million.

  • Oct 9- Green Mountain Coffee Roasters Inc. The Snapple K-Cup pack iced teas will be available in the United States and Canada in spring 2013, with Vue packs to follow, the companies said in a joint statement on Tuesday. Single-serve coffee pods are expected to reach $959.1 million in retail sales this year, up 32 percent, according to Euromonitor International.

  • *To build shell's quest carbon capture facility in Canada. *Says booked the undisclosed contract value in the third quarter. *Will provide full epc services for a 1.1 million tonne-per-year carbon capture facility.

  • PHILADELPHIA-- Destination Maternity said Tuesday that its fiscal fourth-quarter revenue dipped slightly, but the results still managed to beat Wall Street's expectations. Destination Maternity said that its quarterly revenue fell less than 1 percent to $128.5 million.

  • CHICAGO, Oct 9- Narayana Kocherlakota surprised economists around the world last month when he called on the U.S. central bank to hold interest rates near zero, possibly for several years to come.

  • HOFFMAN ESTATES, Ill.-- Sears anticipates that it will receive about $346.5 million in gross proceeds from a rights offering related to the spinoff of its Hometown and Outlet stores. Sears Holdings Corp. had signaled in February that it would split off the companies as a separate publicly traded entity.

  • *Corporate tax revenue coming in to Ottawa was up slightly last year, even as the Conservative government was in the midst of an aggressive plan to lower the corporate tax rate.

  • ROME-- The United Nations said Tuesday its 2009 headline-grabbing announcement that 1 billion people in the world were hungry was off-target and that the number is actually more like 870 million.

  • Shares in French movie studio EuropaCorp surge 13 percent after Liam Neeson thriller "Taken 2", which it co-produced, captures the No. 1 spot on movie box office charts over the weekend.