Canada's Silicon Valley is seeing a boom of start-ups after BlackBerry's meltdown. More than 450 were created last year—four times the 2009 amount.» Read More
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LONDON- Bank of England will release the minutes of April Monetary Policy Committee meeting- 0830 GMT. HELSINKI- Finnish Prime Minister Jyrki Katainen, Finance Minister Jutta Urpilainen and The Finns Party leader Timo Soini participate in a election debate- 1300 GMT.
Canadian Pacific Railway Ltd and Canadian National Railway Co have come under enormous pressure to clear the backlog, which resulted from a record harvest last year and subsequent disruptions of service caused by a frigid winter.
April 22- At any given time, the acquisitive chief executive of Valeant Pharmaceuticals Inc is brokering multiple deal discussions and eyeing as many as 50 buying opportunities. Pearson's latest target, with help from activist investor Bill Ackman, is Allergan Inc, maker of anti-wrinkle treatment Botox.
Both Calgary, Alberta- based CP and Canada's largest railway, Canadian National Railway Co, have been under enormous pressure to clear the backlog, which resulted from a record harvest last year and from subsequent service impairments caused by a frigid winter.
Federal Reserve Chairman Ben Bernanke said he could have done a better job in helping people understand the action the central bank took during the financial crisis.
*Quarterly earnings per share C $1.44 vs C $1.41 estimate. CP shares jumped 6 percent to C $173.83 on the Toronto Stock Exchange in early morning trading.
*To restart Pend Oreille zinc mine at a cost of C $45 mln. Teck also said it plans to resume production at its Pend Oreille underground zinc mine, which has been idle since 2009. The company said zinc has the best outlook of the base metals. The capital cost of restarting Pend Oreille is pegged at about $41 million.
April 22- Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has partnered with activist investor Bill Ackman in an unsolicited $47 billion bid to buy Botox maker Allergan Inc in a move to eventually become one of the world's five biggest drug companies.
April 22- Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has offered to buy Botox maker Allergan Inc for roughly $47 billion in a move to expand its skin and eye-care portfolio. Bill Ackman's Pershing Square, Allergan's largest shareholder with a 9.7 percent stake, disclosed in a filing on Monday that it is supporting the bid.
*First-quarter earnings per share C $1.44 vs est C $1.41. Canada's second-largest railroad said net earning rose to C $254 million, or C $1.44 per share, in the quarter ended March 31, from C $217 million, or C $1.24 per share, a year earlier. Analysts on average had expected earnings of C $1.41 per share on revenue of C $1.51 billion, according to Thomson Reuters I/B/E/S.
April 22- Diversified Canadian miner Teck Resources Ltd said it would cut about 600 jobs, or 5 percent of its global workforce, after a sharp fall in earnings and revenue in the first quarter.
April 22- Diversified Canadian miner Teck Resources Ltd said it would defer the reopening of its Quintette coal mine in British Columbia and cut 600 jobs, or 5 percent of its global workforce, after a 78.4 percent fall first-quarter net profit.
NEW YORK— Valeant Pharmaceuticals and activist investor Bill Ackman have unveiled details of their offer to buy Botox maker Allergan, proposing a cash-and-stock deal that could be worth about $45.6 billion. Each Allergan share would be exchanged for $48.30 in cash and 0.83 shares of Valeant Pharmaceuticals International Inc. common stock.
Crotty also said that while "there is substance" to the defendant's argument that the SEC had overreached by tying up too many assets, the regulator's action could be justified on "equitable" grounds. In a court filing on Saturday, Babikian, through his lawyers, declined to address some SEC claims, invoking his right against self-incrimination under the U.S.
Federal Reserve, Ben Bernanke, will give a speech entitled "Eight Years of Crisis Management at the Federal Reserve and the Way Forward"- 1545 GMT. HALIFAX, Canada- Canadian Finance Minister Joe Oliver will speak at a Halifax Chamber of Commerce lunch in Nova Scotia- 1545 GMT.
CSX Corp and Norfolk Southern Corp are both trading 15 percent or more below their warranted share price, according to a measure of "intrinsic valuation" tracked by Thomson Reuters StarMine.
CALGARY/ VANCOUVER April 21- Six years after applying to build the Keystone XL pipeline, Canada's frustrated oil industry appears steadfast in its support of the plan even though Washington has again delayed a decision on whether to approve the politically charged project.
TORONTO, April 21- Canadian cable, telecommunications and media company Rogers Communications Inc reported a 13 percent drop in first-quarter profit on Monday, as a move to more customer-friendly pricing led to a slip in earnings at its major wireless phone arm.
NEW YORK— Valeant Pharmaceuticals has teamed up with activist investor Bill Ackman to make a bid for Botox maker Allergan that could be worth about $40 billion. Valeant said Monday that it intends to propose a merger with Allergan using a combination of Valeant stock and cash.