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In light of Sunshine Oilsands' quarterly loss, John Zahary, President and CEO, says the company's projects are in pre-production stage and revenue will start coming in soon.
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*Labeling program ruled unfair to Canada, Mexico meat. The WTO ruled on June 29 that the U.S. country-of-origin labeling program, known as COOL, unfairly discriminated against Canada and Mexico because it gave less favorable treatment to beef and pork imported from those countries, which brought the case, than to U.S. meat.
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CALGARY, Alberta, Dec 4- Progress Energy Resources Corp's chief executive said on Tuesday that he hopes for a decision from Ottawa on the C $5.2 billion takeover of his company by Malaysia's Petronas this year.
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OTTAWA, Dec 4- Canada's central bank was unwavering on Tuesday in its view that it may need to hike interest rates, not cut them, even as the country's economy shows signs of slowing and uncertainty over the U.S. fiscal cliff shakes North American economic confidence.
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OTTAWA, Dec 4- The Bank of Canada held interest rates steady on Tuesday and said it would likely need to hike rates "over time", repeating the formula it used in October despite weaker-than-expected growth, soft inflation and worries about the U.S. fiscal cliff.
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Dec 4- Bank of Montreal's quarterly profit rose 41 percent, topping estimates, as wholesale banking income doubled and loan-loss provisions plunged. Midwest, earned C $1.1 billion, or C $1.59 a share in the fourth quarter ended Oct 31. BMO paid $4.1 billion for M&I, which it combined with its Chicago- based Harris Bank.
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Dec 4- Bank of Montreal's fourth-quarter profit rose 41 percent, topping estimates, as a sharp jump in wholesale banking income more than offset a weaker performance from its U.S. lending unit, the bank said on Tuesday. Midwest, earned C $1.1 billion, or C $1.59 a share. That compared with a year-before profit of C $768 million, or C $1.11 a share.
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*Current COO Gary Goldberg named new chief executive. Dec 3- Newmont Mining Corp on Monday said Chief Executive Richard O'Brien will step down, making it the third major gold miner this year to replace its top manager as the industry seeks to boost dwindling production and control mushrooming costs.
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*Company may sell Norsk Hydro stake, non-core assets. RIO DE JANEIRO, Dec 3- Brazil's Vale SA, the world's second-largest mining company, cut estimated 2013 capital spending by 24 percent after a global slowdown and a drop in iron ore prices led the company to rethink its outlook for expansion.
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*Shares fall 2.2 percent to $46.06 on NYSE. Dec 3- Newmont Mining Corp said on Monday Chief Executive Richard O'Brien will step down on March 1, making Newmont the third major gold miner to announce the departure of its CEO this year.
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*Shares fall 2.2 percent to $46.06 on NYSE. Dec 3- Newmont Mining Corp said on Monday Chief Executive Richard O'Brien will step down on March 1, making Newmont the third major gold miner to announce the departure of its CEO this year.
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*Railway says will not extend line into Wyoming, Montana. TORONTO, Dec 3- Canadian Pacific Railway will take a C $180 million charge to abandon plans to expand into the Powder River coal-mining region in the U.S. states of Wyoming and Montana, citing weakness in the thermal coal market.
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*Shares of both Dean Foods and Saputo rise. Dec 3- Saputo Inc will buy Dean Foods Co's Morningstar division for $1.45 billion to widen its product range and increase its U.S. presence, the Canadian dairy products maker said on Monday.
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Dec 3- Canadian dairy products maker Saputo Inc said it had agreed to buy Dean Foods Co's Morningstar dairy division for $1.45 billion to widen its manufacturing and distribution footprint and product offerings in the United States.
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BEIJING, Dec 3- Dalian Wanda Group, the world's biggest owner of movie theaters, is in talks with leading Hollywood studios to co-produce films and is looking to buy and build hotels in major U.S. cities as the Chinese firm eyes a $10 billion' soft power' spending spree.
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The deal adds to a stable of assets that span some of the trickiest territories in the world- Sudan, Iran, Iraq, Syria and Libya among them- accumulated as parent Oil and Natural Gas Corporation struggled with domestic output. Oil supplies have become more urgent as Western sanctions over nuclear projects squeeze Iran, once India's second-biggest supplier.
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HONG KONG, Dec 3- Hong Kong shares could start December testing 2012 highs on Monday, helped by official data showing headline manufacturing activity in China rose to a 7- month high of 50.6 in November from 50.2 in October.
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The deal adds to a stable of assets that span some of the trickiest territories in the world- Sudan, Iran, Iraq, Syria and Libya among them- accumulated as parent Oil and Natural Gas Corporation struggled with domestic output. Oil supplies have become more urgent as Western sanctions over nuclear projects squeeze Iran, once India's second-biggest supplier.
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*Europe, emerging market slowdown provide poor backdrop. WASHINGTON, Dec 2- The global economy is on edge- and that's without the U.S. " India is likely to log its weakest growth in a decade this year and Brazil's economy is also sputtering.
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REUTERS BUSINESS SCHEDULE AT 2:30PM ET/ 1930 GMT. Treasury Secretary Timothy Geithner pushes Republicans to offer specific ideas to cut the deficit, and predicts that they will agree to raise tax rates on the rich to obtain a year-end deal and avoid possible economic doom ( USA- FISCAL/, moving shortly, by Aruna Viswanatha and Thomas Ferraro, 800 words).