Business Canada

  • TORONTO, Sept 27- Canadian miner Teck Resources Ltd wants to regain its investment-grade credit rating but expects it will need to reduce its debt by some $1.5 billion to $2 billion to achieve that goal, Chief Financial Officer Ron Millos said on Tuesday. The company has been working to reduce its debt, which stood at $6.97 billion at the end of June, down from $9.6...

  • MONTREAL— Efforts to reach the world's first climate deal governing the aviation sector got under way at a conference in Montreal. Delegates to the U.N. International Civil Aviation Organization general assembly are being asked to approve, in two weeks, a program for the industry to become carbon neutral after 2020 and to halve net emissions by 2050 compared to...

  • TORONTO, Sept 27- Canadian money manager West Face Capital is looking to raise $1.5 billion for a new private equity fund, according to a person familiar with the situation on Tuesday. The Toronto- based hedge fund is targeting both U.S. and Canadian investors with the new fund, the source said on condition of anonymity as the matter is not public.

  • TORONTO, Sept 27- Ontario will scale back its purchase of renewable power in a move expected to result in savings of up to$ C3.8 billion from a 2013 forecast, the provincial government said on Tuesday. It's not clear consumers will benefit directly, though the province's Energy Minister Glenn Thibeault told a news conference a residential household can expect to...

  • DETROIT— DTE Energy Co. plans to spend $1.3 billion for natural gas assets in Pennsylvania and West Virginia. The Detroit- based company announced Monday that an agreement calls for DTE to purchase all of Appalachia Gathering System in Pennsylvania and West Virginia and 40 percent of Stonewall Gas Gathering in West Virginia from energy company M3 Midstream.

  • RAMAT GAN, Israel, Sept 27- In early 2013, a young Israeli businessman registered a web domain in London for a company called NRGbinary.com. While it was initially registered in Britain, NRGbinary was run from Israel and sold its products to clients in the Middle East, Canada and South Africa. Israeli regulators say they never looked at the company, or others like it,...

  • MONTREAL, Sept 27- Fast-growing aviation powerhouse India is not ready to join the world's first climate deal to curb pollution from commercial flights because it fears that talks beginning on Tuesday may not lead to a fair agreement, its civil aviation minister said. The proposed landmark deal, backed by the United States and China, aims to limit rising airline...

  • ROCHESTER, Mass.— All is not well in cranberry country this harvesting season, the 200th anniversary of the world's first known commercial cultivation. In the birthplace of the industry, many Massachusetts growers whose families have tended bogs for generations are in "dire straits," facing challenges that include rising production costs, decreasing crop...

  • BELLINGHAM, Wash., Sept 26- Central banks may find it more challenging to maintain inflation targets as the world economy becomes more integrated with increased international trade, the head of the Bank of Canada said on Monday. Policymakers need to acknowledge the risks from these changes and consider how to blunt their potential impact on monetary policy...

  • TORONTO, Sept 26- Canadian fashion retailer Aritzia Inc priced its initial public offering at C $16 a share on Monday, at the very top end of the range it marketed the deal, according to three sources with knowledge of the matter.

  • TORONTO, Sept 26- Canadian policymakers are facing increased pressure to support the country's lackluster economy as infrastructure spending takes time to kick in and record high debt loads dampen the impact of stimulus checks. Weak oil prices, disappointing growth in non-energy exports and a wildfire in Alberta that cut oil production have all weighed on...

  • TORONTO, Sept 26- Rogers Communications Inc will incur third-quarter losses of between C $100 million to C $140 million as its joint-venture Shomi video streaming service is shut down, the Canadian company said on Monday. Rogers said in a statement that Shomi, a venture whose plans it announced in August 2014 with fellow Canadian company Shaw Communications...

  • OTTAWA, Sept 26- Canadian economic growth this year is less than the government initially expected, Finance Minister Bill Morneau said on Monday, in a sign Ottawa could run budget deficits for longer than planned. The government typically provides a fiscal update to the budget in November or December and Morneau indicated Ottawa might provide a further boost...

  • TORONTO, Sept 26- BlackBerry Ltd Chief Executive John Chen said on Monday he was two-thirds of the way toward achieving his goal of turning the Canadian technology company's fortunes around. "We have made investment over a billion-plus, all in software, all in security, and now we need to execute it," Chen said at an event in Toronto two days before the company will...

  • "We have made investment over a billion-plus, all in software, all in security, and now we need to execute it," John Chen said at an event in Toronto, two days before the company will report its second-quarter earnings.

  • OTTAWA, Sept 26- The Canadian government will look at what more it can do to help the economy if needed, with economic growth less than had been forecast in the budget released earlier this year, Finance Minister Bill Morneau said on Monday. The budget also included a C $6 billion adjustment for risk in each year's deficit figures. The recent acceleration in home...

  • *Turkey downgrade, OPEC meeting hurt risk sentiment. NEW YORK, Sept 26- The dollar fell against the safe-haven yen on Monday after comments from a top Bank of Japan official reinforced views that the central bank was unable to weaken the yen, while an impending U.S. presidential debate stoked uncertainty. "The BOJ is saying we'll continue on the current path," said...

  • TORONTO/ ASMARA, Sept 26- Bemnet Negash never got to say a proper goodbye to his family. In February 2006, government officials arrived at his school in the highlands of Eritrea and put him and his classmates on a bus to a military training camp. Bemnet, who slipped out of Eritrea in 2011, did not work just for the government when he was a conscript: In his legal filing he...

  • TORONTO, Sept 25- Canada's Unifor union has ratified a deal with General Motors Co worth C $554 million, the labor group said on Sunday as it prepares for related talks with Fiat Chrysler Automobiles NV. Unifor has said it will negotiate next with Fiat Chrysler, and has set a tentative strike deadline of midnight Oct. 10. Unifor President Jerry Dias said the union...

  • MONDAY, SEPTEMBER 26 BELLINGHAM, United States- Bank of Canada Governor Stephen Poloz gives a speech at Western Washington University- 2300 GMT. MINNEAPOLIS, United States- Federal Reserve Bank of Minneapolis President Neel Kashkari gives welcome remarks before the fourth "Ending Too Big to Fail" symposium- 1330 GMT. BRUSSELS- European Central Bank President...