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Business Canada

  • *New York, Philadelphia, Washington, Boston in its path. NEW YORK/ REHOBOTH BEACH, Del., Oct 29- Hurricane Sandy began battering the U.S. East Coast on Monday with fierce winds and driving rain, as the monster storm shut down transportation, shuttered businesses and sent thousands scrambling for higher ground hours before the worst was due to strike.

  • Some Aging Nations Look to Immigration to Avert Economic Squeeze

    “The European countries realize they need more workers,” said one demographic expert. "“It lowers potential [economic] growth rates. Where it becomes very problematic is the impact it has on social spending.”

  • MUMBAI, Oct 29- Essar Energy plans to refinance up to $1.5 billion worth of its rupee debt overseas within six months, its chief executive said on Monday, as the India- focused group concentrates on improving its balance sheet after a turbulent period of heavy capital spending and regulatory setbacks.

  • *First hr2 store to open near Montreal next March. TORONTO, Oct 29- Holt Renfrew, a Canadian luxury department store operator, said on Monday it would launch a lower-priced chain called hr2 in the spring, months before U.S. luxury retailer Nordstrom Inc plans to open north of the border.

  • NEW YORK- Hurricane Sandy, the monster storm bearing down on the U.S. East Coast, strengthens after hundreds of thousands move to higher ground, public transport shuts down and the U.S. stock market suffers its first weather-related closure in 27 years (STORM-SANDY/ moved, pix, tv, graphic, by Daniel Trotta, 910 words). Politics puts Italy, Spain back in market focus.

  • 1530,1930 GMT- Franklin Paul, Chris Kaufman +1 646 223 6200.

  • LONDON, Oct 29- Brent crude oil steadied around $110 a barrel on Monday as Hurricane Sandy, which forecasters said could be the largest storm ever to hit the North American mainland, approached the U.S.

  • *Petronas-Progress extend closing by 30 days to Nov. 30. KUALA LUMPUR, Oct 29- Malaysian state oil firm Petronas said on Monday it has extended the closing date on its bid for Canadian gas producer Progress Energy Resources until Nov. 30, as it works to overturn the Canadian government's rejection of the proposed deal.

  • *Resource stock performance tied to China, commodities.

  • *U.S. East Coast refineries cut output ahead of hurricane. LONDON, Oct 29- Brent crude oil fell towards $109 a barrel on Monday as U.S. East Coast refineries shut ahead of the approach of Hurricane Sandy, reducing crude use in the world's largest oil consumer.

  • The Reuters business schedule runs at the following times: 0230,0630 GMT- Mathew Veedon +65 6870-3827 0830,1230 GMT- Malcolm Davidson +44 20 7542 6958 1530,1930 GMT- Franklin Paul, Chris Kaufman +1 646 223 6200.

  • Canada blocked Petronas' bid for Progress this month after Industry Minister Christian Paradis said it was not likely to bring a ``net benefit'' to the country.

  • SUDBURY, Ontario, Oct 28- In an office trailer parked outside a mine shaft in northern Ontario, operator Carolyn St-Jean leans back in her chair and monitors a machine loading nickel-rich ore into rail cars deep underground.

  • TORONTO, Oct 28- Workers at Lear Corp's Whitby, Ontario plant, which supplies car seats to General Motors Co in Canada, went on strike on Sunday with employees and management far apart on a range of issues, the Canadian Auto Workers union said. The Whitby factory makes seats for vehicles at the GM plant in Oshawa, Ontario.

  • *Resource stock performance tied to China, commodities.

  • SUDBURY, Ontario, Oct 28- In an office trailer parked outside a mine shaft in northern Ontario, operator Carolyn St-Jean leans back in her chair and monitors a machine loading nickel-rich ore into rail cars deep underground.

  • OCTOBER 2012- Archer Daniels Midland bids $2.8 billion for Australia's GrainCorp in a deal that could give it a platform to supply Asia. MARCH 2012- Glencore agreed to buy Canada's largest grain handler Viterra in a $6.2 billion deal to provide the world's top commodities trader with a powerful position in both the Canadian and Australian markets.

  • WASHINGTON-- The storm that is threatening 60 million Americans in the eastern third of the nation in just a couple of days with high winds, drenching rains, extreme tides, flooding and probably snow is much more than just an ordinary weather system. Start with Sandy, an ordinary late summer hurricane from the tropics, moving north up the East Coast.

  • NEW YORK/ TORONTO, Oct 26- Moody's Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row.

  • Oct 26- Individual donors to U.S. presidential candidates can contribute up to $2,500 for the state-by-state party nominating contests and another $2,500 for the general election.