Burger King and Tim Hortons said their $11.5 billion merger is "moving forward as planned," as new rules on corporate tax inversions take effect.» Read More
BISMARCK, North Dakota, Sept 23- Hess Corp and other major North Dakota oil producers told the state's top energy regulators on Tuesday that existing field practices used to prepare Bakken crude for rail transport are safe, and tighter standards could do more harm than good.
*Action may deter Pfizer from returning to bid for AstraZeneca. WASHINGTON/ NEW YORK, Sept 23- Tough new U.S. rules on corporate "inversions" on Tuesday sent a chill through the market for the tax-avoidance deals, both pending and potential, with share prices falling sharply in nearly a dozen companies on both sides of the Atlantic.
*Action may deter Pfizer from returning to bid for AstraZeneca. Burger King, which is in the process of an inversion deal with Canada's Tim Horton's, said Tuesday it would proceed with its $11.5 billion deal despite the Treasury actions, saying the transaction was not about the tax benefits.
OTTAWA, Sept 22- The Canadian government is looking at extending the insurance burden for crude-by-rail disasters beyond just railways and is weighing the idea of a special fund similar to one once set up for maritime oil spills, a government official said.
VANCOUVER, Sept 22- A Quebec court has ruled that a C $900 million lawsuit by two Canadian aboriginal communities against a subsidiary of Rio Tinto can proceed.
OTTAWA, Sept 22- The Canadian government is looking at extending the insurance burden for crude-by-rail disasters beyond just railways and is weighing the idea of special fund similar to one once set up for maritime oil spills, a government official said.
WINNIPEG, Manitoba, Sept 22- Beer prices in North America may rise next year as brewers and maltsters face higher costs after cold, wet weather damaged Canadian barley crops and left farmers and tipplers crying in their beer. "Prices up means our costs go up and beer prices ultimately go up," said Neil Herbst, co-owner of Edmonton- based Alley Kat Brewery.
TORONTO, Sept 22- Interest rates may have to be about one-and-a-half percentage points lower than they have been historically in order for the Canadian economy to operate at full capacity, the Bank of Canada said on Monday.
Sept 22- Auxilium Pharmaceuticals Inc said its board had determined that Endo International Plc's $2.2 billion takeover offer "significantly undervalues" the company, but left the door open for talks on a possible deal.
Sept 22- Canadian drugmaker Tekmira Pharmaceuticals Corp said on Monday that U.S. and Canadian regulators have authorized the use of its Ebola treatment in patients who have confirmed or suspected infections from the deadly virus.
Sept 22- Auxilium Pharmaceuticals Inc said its board had determined that Endo International Plc's offer "significantly undervalues" the company. Auxilium said in June that it would buy QLT for $346 million, in a deal aimed at cutting its tax bill by moving its headquarters to lower-tax British Columbia, Canada.
WASHINGTON, Sept 22- President Barack Obama, stumping for the Democrats ahead of November's congressional elections, has twice invoked Ronald Reagan's seminal campaign question: "are you better off than you were four years ago?"
HONG KONG, Sept 22- Short-sellers who profit from stock price declines have resumed targeting Chinese companies after a three-year lull, but many of the researchers who instigate the strategy are now cloaked in anonymity, shielding themselves from angry companies and Beijing's counter-investigations.
KANSAS CITY- Federal Reserve Bank of Kansas City President Esther George gives welcome remarks at the Shift Innovation: Community Development Conference- 1330 GMT.
TORONTO, Sept 19- Canada's main stock index took its sharpest one-day hit in seven months on Friday as a broad array of stocks from banks to telecommunications and resource companies pushed it to a 1.7 percent decline for the week.
CALGARY, Alberta, Sept 19- Canada's oil sands industry is shrugging off declining world oil prices as some of the world's highest-cost producers find a cushion in strong demand and a weakened domestic currency.
*Scotland to stay in UK but pound falls on profit-taking. NEW YORK, Sept 19- The dollar gained against a basket of major currencies on Friday, posting its 10th consecutive week of gains, as investors bet U.S. interest rates would rise more quickly than had been expected.
TORONTO, Sept 19- Canadian precious metals miner Primero Mining Corp said on Friday an employee of one of its contractors was killed in an isolated underground accident at its flagship San Dimas mine in Mexico on Thursday night.
*Scotland to stay in UK, but pound down on profit-taking. NEW YORK, Sept 19- The dollar rose against a basket of major currencies on Friday, on track for its 10th consecutive week of gains, as investors bet U.S. interest rates would rise more quickly than expected.
OTTAWA, Sept 19- Canada's annual inflation rate remained above the Bank of Canada's 2.0 percent target in August for the fourth month in a row, putting pressure on the central bank to drop its neutral stance on interest rates.