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Business staffing plans for Friday, April 11, 2008
(Canadian Press (delayed) Via Thomson Dialog NewsEdge) BUSINESS EDITORS: Here are Canadian Press Business staffing plans as of 4:45 p.m. ET. Plans may change as circumstances warrant.
Queries should be addressed to business editor John Valorzi at 416-507-2146 or to David Paddon on the business desk at 416-507-2138 or Craig Wong at 613-231-8631. To contact Canadian Press Business by e-mail, send messages to business(at)thecanadianpress.com.
WINNIPEG _ CanWest Global Communications Corp. (TSX:CGS) has reported a nine per cent rise in quarterly revenue to $702 million but a net loss of $34 million, hit by long-term liabilities, foreign currency items and restructuring costs. 600 words. BC-CanWest, 2nd Writethru. Moved
CALGARY _ Shaw Communications Inc.'s (TSX:SJR.B) chief executive said Friday he sees a possible growth opportunity in the cellphone business as the Calgary-based cable-TV company said it pulled in an 11 per cent rise in quarterly revenue. Shaw will be among companies bidding in the federal government's wireless spectrum auction, set to begin on May 27. 600 words. By Lauren Krugel. BC-Shaw-Communications, 2nd Writethru. Moved
MONTREAL _ The credit crunch on world markets is having a negative effect on Cogeco Cable's (TSX:CCA) acquisition plans in eastern Europe, company president Louis Audet said Friday. By Donald McKenzie. BC-Cogeco.
UNDATED _ News reports say Scotiabank (TSX:BNS) may be interested in acquiring at least part of troubled U.S. bank National City Corp., but analysts say the acquisition would be rife with pitfalls for the Canadian bank. 800 words. By Craig Wong. BC-Scotiabank, 3rd Writethru Bgt. Moved.
ST. HUBERT, Que. _ Industry Minister Jim Prentice has given his clearest statement to date on how he will review foreign takeovers in the future, saying Friday that Canada must retain control of technologies vital to the country's industry and policy objectives. BC-Prentice-MDA-Takeovers. Moved Business (B) and General (G). Will be Updated
WASHINGTON _ The world's leading banking figures take seats in the epicentre of American political power to talk about ways to prevent another financial crisis like the mortgage and credit slumps that have sent tremors around the globe. By Jeannine Aversa. See Photos. BC-Credit-Crisis. Moved
HARTFORD, Conn. _ Normally reliable General Electric Co. shocked investors with a nearly 6 percent decline in its first-quarter profit and slashed its earnings forecast for the full year, sending its own shares down 10 percent and the broader market sharply lower on fresh worries about the weakening economy. 750 words. By Stephen Singer. BC-General-Electric, 2nd Writetrhru. Moved.
NEW YORK _ U.S. retail gas and diesel prices jumped to yet another record Friday, piling on the costs for motorists as well as consumers reliant on trucks, trains and ships to deliver goods to market. 650 words. By Adam Schreck. BC-Oil-Prices, Bgt, 2nd Writethru. Moved.
DENVER _ Frontier Airlines sought bankruptcy protection Friday, the fourth U.S. carrier to do so over the past several weeks as exorbitant fuel prices eat into earnings and a weak U.S. economy keeps more people grounded. 800 words. By Catherine Tsai. BC-Frontier-Airlines-Bankruptcy, 1st Writethru, Bgt. Moved
LONDON _ Shareholders in Cadbury Schweppes PLC voted overwhelmingly Friday in favor of spinning off the candy company's North American beverage business, whose brands include Snapple and Dr Pepper. 600 words. By Jane Wardell. BC-Cadbury-Schweppes, Bgt, 1st Writethru. Moved.
WESTON, Colo. _ A hamlet near here of wooded gulches, rocky outcrops and views of the snowy tops of southern Colorado's Sangre de Cristo mountains is the perfect escape for retirees and telecommuters who've settled in. 800 words. By Judith Kohler. BC-US-Energy-Boom-Blues, Bgt. Moved Datafile only.
The Canadian Press is also following:
TORONTO _ The Toronto stock market ended the day with a triple-digit loss Friday as disappointing earnings from usually reliable General Electric Co. cast a shadow over stock markets and made investors fret over the quality of upcoming quarterly results. By Romina Maurino. BC-Dollar-Markets, 6th Writethru. Moved.
HALIFAX _ Corridor Resources Inc. (TSX:CDH) said Friday it would seek interest from shippers on the Maritimes and Northeast Pipeline system for storage services at its proposed Salt Springs Storage facility near Sussex, N.B. BC-Corridor-Resources. Moved Datafile only.
QUEBEC _ David Mazzo has resigned as CEO of biopharmaceutical company Aeterna Zentaris Inc. (TSX:AEZ), to be replaced on an interim basis by chairman Juergen Ernst. BC-Aeterna-Zentaris. Moved.
QUEBEC _ CO2 Solution Inc. (TSXV:CST), a junior Quebec environmental cleanup company, says its 2007 deal with global giant The Babcock & Wilcox Co. for the option to license technology developed by CO2 for to capture carbon dioxide emissions from coal-fired power plants has been terminated. BC-CO2-Babcock.
QUEBEC _ H2O Innovation (2000) Inc. (TSXV:HEO) said Friday its H2O Innovation USA Inc. unit is buying Wastewater Technology Inc. of Monterey, Va., for US$2.7 million in cash. BC-H2O-Innovation. Moved Datafile only.
OTTAWA _ Growth in the cost of new housing slowed slightly in February, Statistics Canada says. New house prices were 6.2 per cent higher in February than a year earlier, but that was a smaller increase than the year-to-year jump of 6.5 per cent recorded in January. BC-Housing-Prices.
TORONTO _ Vector Aerospace Corp. (TSX:RNO) has agreed to pay a total of $6.3 million to two former executive officers whose employment was terminated about 4 1/2 years ago as part of a power struggle among shareholders. BC-Vector-Aero-Settlement.
TORONTO _ Royal Bank of Canada (TSX:RY) has named Jim Westlake, currently head of Canadian banking, as chief of its international banking and insurance operations. BC-RBC. Moved Datafile only.
TORONTO _ Arius Research Inc., (TSX:ARI), a Toronto biotechnology company developing antibody therapeutics, says it widened its net loss to the 2008 first fiscal quarter to nearly $2.5 million from $2.3 million, mainly because of higher research and development and other costs. BC-Arius-Research. Moved.
AURORA, Ont. _ MI Developments Inc. (TSX:MIM.A) says its controlling shareholder, Frank Stronach, will use his voting power to defeat a proposal by Greenlight Capital Inc., a New York investment firm that's calling for changes at the land development company. BC-MID-Stronach-Greenlight. Moved
MEDICINE HAT, Alta. _ Reece Energy Exploration Corp. (TSXV:RXR) has acquired more land in the Bakken area of southeast Saskatchewan. Reece said Friday that it and a 50 per cent partner took 21.7 square kilometres in this month's Crown land sale. Reece, which plans to drill its first Bakken well this spring, also said it has hired Elizabeth Troniak, formerly of Seneca Energy Canada, as senior land manager. BC-Reece-Bakken.
CALGARY _ AXQP Inc. (TSXV:PIV) said Friday a group of nine buyers, including several company insiders, have acquired a 64.6 per cent stake in the company. BC-AXQP. Moved Datafile only.
CALGARY _ Heritage Oil Ltd. (TSX:HOC) is buying into two exploration licences covering 9,300 square kilometres in Tanzania, mostly offshore. Under the deal with Petrodel Resources Ltd., Heritage can earn a 70 per cent interest in one area and 29.9 per cent of the other by funding initial exploration costs estimated at US$22.5 million to US$29.5 million. BC-Heritage-Oil.
CALGARY _ Crescent Point Energy Trust (TSX:CPG.UN) has acquired more than 4.1 million Class A shares of junior Painted Pony Petroleum Ltd. (TSXV:PPY), about 21.2 per cent of the smaller company. BC-Crescent-Point.
CALGARY _ Monroe Minerals Inc. (TSXV:MMX) has taken a $622,888 writedown of its mineral rights at the Cangandala diamond exploration program in Angola and plans to reorganize that part of its business while also expanding its uranium holdings. BC-Monroe-Minerals. Moved Datafile only.
VANCOUVER _ Seniors housing developer Amica Mature Lifestyles Inc. (TSX:ACC) reported Friday a third-quarter profit rises of $1.5 million, up from a year-before $752,000. BC-Amica-Mature. Moved Datafile only
VANCOUVER _ Visiphor Corp. (TSXV:VIS) annual net loss falls by 63 per cent to $2.5 million in 2007, compared with $6.7 million in 2006. Revenue fell by 33 per cent to $4.3 million from $6.4 million. BC-Visiphor.
FOR EDITORS PLANNING MONDAY BUSINESS SECTIONS TODAY, THE FOLLOWING WILL MOVE ON THE SUNDAY BUDGET:
TORONTO _ Cott Corp. (TSX:COT) shareholders will likely get an explanation about how the troubled company's new chief executive plans to cut costs at this week's annual meeting, said analysts who remain unconvinced any changes will boost its lagging stock. 600 words. By Romina Maurino. BC-Cott, Advance. Moved Friday in Advance. ADVANCE _ EMBARGOED until noon ET SUN April 13
TORONTO _ Investors will look to corporate earnings for signs of where the U.S. economy is headed after a losses Friday over disappointing earnings from usually reliable General Electric Co. 650 words. By Romina Maurino. BC-Dollar-Markets-Lookahead
MONDAY BUSINESS CALENDAR:
ST. JOHN'S, N.L. _ Rutter Inc., a technology outsourcer and automation systems provider, issues quarterly earnings. Conference call April 15.
GLASGOW, N.S. _ Office, retail and mixed property real estate investment trust Crombie holds annual meeting. (10 a.m. at Empire Studio 7 Cinemas, 610 East River )
MONTREAL _ Jeffrey Orr, president and CEO of Power Corp., speaks to the Canadian Club of Montreal on "Corporate Governance Regulation: Are We Missing The Mark?" (12 p.m. at Hilton Montreal Bonaventure Hotel, Salon Mont-Royal, 900, de la Gauchetiere West)
X-MONTREAL _ Astral Media second-quarter earnings conference call. Webcast at www.astralmedia.com (2:30 p.m.)
OTTAWA _ CRTC continues major broadcast policy review. Through April 20. (9 a.m. at Portage 4, Gatineau, Quebec)
OTTAWA _ Statistics Canada releases February new motor vehicle sales. (8:30 a.m. at www.statcan.ca)
OTTAWA _ Statistics Canada releases 2008 first-quarter investment in non-residential building construction. (8:30 a.m. at www.statcan.ca)
TORONTO _ The Ontario Securities Commission holds hearing in the matter of Gold-Quest International, Health and Harmoney, Iain Buchanan and Lisa Buchanan. (10 a.m. at 20 Queen St. West)
x-TORONTO _ Pan-Canadian Investors Committee for asset-back commerical paper holds conference call for noteholders to ask questions about the proposed restructuring of $32-billion worth of notes. 1-866-696-5910, passcode 3258189. (11 a.m.)
x-CALGARY _ Canadian Energy Research Institute hosts conference on the price of energy security. Through April 15. (8 a.m. at Fairmont Palliser)
CALGARY _ Lufthansa holds celebration to launch its Calgary-to-Frankfurt direct service. (11 a.m. at Calgary International Airport)
SASKATOON _ Officials with the Agrium potash mine in Vanscoy appear in court to face 10 workplace and mining offences after an accident cost a miner the use of his legs.
THE CANADIAN PRESS
Copyright ? 2008 The Canadian Press
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