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  • Oct 20- Mitel Networks Corp, a provider of business communications services, offered to buy smaller U.S. peer ShoreTel Inc for about $540 million as part of efforts to expand in the United States. Kanata, Ontario- based Mitel's cash offer of $8.10 per share represents a 24 percent premium to ShoreTel stock's closing price on Friday. Sunnyvale, California- based...

  • Adrift Russian ship towed safely to Canadian port Monday, 20 Oct 2014 | 8:13 AM ET

    PRINCE RUPERT, British Columbia— The Russian container ship that had been drifting powerlessly off the British Columbia coast, raising fears of a fuel spill, is now safe at a Canadian port. The Joint Rescue Coordination Center in Victoria says the vessel was towed into the port city of Prince Rupert at 3 a.m. Monday. It was headed from Everett, Washington, to Russia...

  • Oct 20- Canadian Pacific Railway Ltd said on Monday that it had ended talks to buy CSX Corp and that the two companies planned no further discussions, sending shares of the No. 3 U.S. railroad operator down more than 3 percent. Neither side had confirmed the talks, initially reported by the Wall Street Journal a week ago. However, analysts had said service problems...

  • Oct 20- Canada's Valeant Pharmaceuticals International Inc, embroiled in a bitter fight to take over Botox maker Allergan Inc, posted a better-than-expected quarterly profit, driven by demand for its skin, neuro and eye drugs. The company also raised its full-year adjusted earnings forecast to $8.22- $8.32 per share from $7.90- $8.10 per share to reflect its...

  • New England raking in millions from leaf peepers Sunday, 19 Oct 2014 | 12:14 PM ET

    Money really does grow on trees in autumn in New England, and all six states are raking it in. "We wanted to get out in the fresh air and see the colors while it's still warm," said Christopher LeBeau, who drove from Connecticut to hike Mount Monadnock. Lingering warm weather is causing leaves to stay on the trees longer in New England.

  • HAMILTON, Bermuda, Oct 18- Bermuda suffered extensive power outages on Saturday after Hurricane Gonzalo pummeled the tiny island chain with rain and howling winds, but the tourist destination dodged catastrophic damage and death despite the direct hit. Only minor injuries were reported, Bermuda officials said. By mid Saturday, weather on the island had...

  • HAMILTON, Bermuda, Oct 18- Power was out for nearly 30,000 customers in Bermuda, and many roads were impassable on Saturday after Hurricane Gonzalo pummeled the island with rain and howling winds through the night, but there were no reports of serious injuries or deaths. The strongest storm to sweep the subtropical British territory in a decade whipped Bermuda...

  • HAMILTON, Bermuda, Oct 18- Power was out for tens of thousands in Bermuda on Saturday morning after Hurricane Gonzalo pummeled the island with torrential rain and howling winds through the night, but there have been no reports of serious injuries. Damage from the storm was believed to be widespread in Bermuda, a tourist destination and affluent insurance...

  • Container ship towed away from Canadian coast Saturday, 18 Oct 2014 | 12:20 AM ET

    Greg Menzies said a tow line from the Coast Guard ship Gordon Reid got detached, but he noted that the Russian vessel is now 24 nautical miles away from shore. The Canadian Coast Guard vessel Sir Wilfrid Laurier and the U.S. Coast Guard cutter Spar were also on hand to assist if needed, while an ocean-going tugboat was expected to arrive in the area late Saturday or...

  • DIARY- Top Economic Events to Oct 31 Friday, 17 Oct 2014 | 8:01 PM ET

    BOSTON- Federal Reserve Bank of Boston President Eric Rosengren speaks before the "Inequality of Economic Opportunity in the United States" conference in Boston- 1230 GMT. LONDON- Bank of England Deputy Governor Jon Cunliffe and ECB Vice President Vitor Constancio discuss bank regulation- 1045 GMT. WASHINGTON- Federal Reserve Board Governor Jerome Powell...

  • Oct 17- Cliffs Natural Resources Inc said it would write down the value of its coal and iron ore assets by $6 billion due to weak prices, putting it in breach of debt covenants and sending its shares down as much as 6.8 percent. We believe this will result in higher interest rate on revolver borrowings going forward, " FBR Capital Markets analysts wrote in a note.

  • OTTAWA, Oct 17- Canadian inflation settled exactly at the Bank of Canada's target of 2.0 percent in September, with the core rate staying at 2.1 percent, according to Statistics Canada data released on Friday. Bank of Canada Governor Stephen Poloz has said some recent price increases were temporary and so should be ignored, suggesting a lower underlying rate, but...

  • NEW YORK, Oct 16- The U.S. dollar recovered against the euro and yen on Thursday after stronger U.S. economic data reinforced the view that Wednesday's selloff in the greenback was overdone. "The data today was very important in that it provided reassurance that the U.S. economic outlook hasn't changed drastically," said Camilla Sutton, chief currency strategist...

  • Oct 16- Chicago grain and soybean futures rose on Thursday on technical buying, rebounding from losses in the previous session that were due to forecasts for favorable harvest weather in the week ahead. The CBOE volatility index, the fear gauge of financial markets, hit its highest level since November 2011 and the S&P 500 and Nasdaq briefly fell into negative...

  • Oct 16- U.S. farmers are cutting back on spreading fertilizer this autumn in response to a drop in crop prices to multi-year lows and a delayed harvest, dealers say, warning of a pullback that will be felt from grain markets to Canadian potash mines. Reductions in fertilizer use of an estimated 10 to 50 percent by volume could hit profits of producers such as Potash...

  • "The market is unwinding some of the moves that we saw yesterday as we come to the conclusion that, even if a Fed liftoff comes a bit later, that still means the U.S. dollar continues to have an advantage relative to most measures," said Martin Schwerdtfeger, currency strategist at TD Securities in Toronto. While consumer inflation at 0.3 percent was unchanged from...

  • *Faltering euro zone economy, slower growth in China pose biggest risks. Indeed, the biggest danger for the world economy in the coming year is deflation or another recession in the euro zone, followed closely by the risk of slower growth in China, according to polls conducted globally over the past week. "Especially, the recent weakening of growth in emerging...

  • TORONTO, Oct 16- Two Canadian paper and pulp producers on Thursday urged the federal government to put pressure on China to overturn the country's anti-dumping duties on dissolving pulp, a cellulosic material used to produce rayon. Vancouver, British Columbia- based Fortress Paper said on Thursday that it had been asking the Canadian government to petition...

  • OneTouch Direct cuts ribbon on New York location Thursday, 16 Oct 2014 | 6:07 AM ET

    ORCHARD PARK, N.Y.— Marketing company OneTouch Direct has begun construction of a new call center in western New York and says it will immediately begin hiring 150 people. The Tampa, Florida- based company will receive up to $1.25 million in tax credits from New York in exchange for its commitment to create jobs at the center in the Buffalo suburb of Orchard Park.

  • DIARY - Top Economic Events to Oct 29 Wednesday, 15 Oct 2014 | 8:01 PM ET

    CHELSEA, United States- Federal Reserve Chair Janet Yellen tours the CONNECT facility and meets consortium leaders and local residents to hear about conditions in the local economy and the impact of CONNECT for residents entering or re-entering the workforce- 1645 GMT. LONDON- Bank of England Deputy Governor Jon Cunliffe takes part in a panel discussion at...