News Column

Business News as of noon ET

January 20, 2014

MONDAY, JAN. 20, 2014 , NOON ET BUSINESS NEWS ADVISORY Here are the top Business News stories from The Canadian Press as of noon. All times Eastern unless otherwise stated. Coverage plans are included when available. Entries are subject to change as news develops. Queries should be addressed to the business desk at 416-507-2138. To reach CP Business by email, send messages to business(at) thecanadianpress.com . ____ TOP BUSINESS NEWS THIS HOUR RBC rate cut small, but could set trend RBC-Mortgages TORONTO _ A move by Royal Bank to slightly decrease its fixed mortgage rates may have would-be homeowners wondering whether other banks may follow suit. But one expert says that while that's a possibility, it's also not the most important question people should be asking. Will be Updated ___ WestJet says Encore going to Toronto WestJet-Encore CALGARY _ WestJet Airlines Ltd. says it will bring its new Encore service to Ontario with the addition routes of between Toronto and Thunder Bay, Ont. and between Thunder Bay and Winnipeg . The airline (TSX:WJA) didn't say when its Encore service to the two Ontario cities will begin. Moves Business and Travel ___ ABInBev repurchases Oriental Breweries EU-Belgium-InBev-Oriental-Breweries AMSTERDAM _ Belgium's AB InBev, the maker of Budweiser and Labatt beers, says it has agreed to repurchase South Korea's Oriental Breweries from private equity firms for US$5.8 billion . Oriental Breweries _ known for the Cass brand, South Korea's biggest seller _ was sold in 2009 to KKR and Affinity Equity Partners after the combination of InBev with U.S.-based Anheuser-Busch. PHOTO. APNewsNow. ALSO IN THE NEWS TSX advances amid weak Chinese economic data Dollar-Markets TORONTO _ The Toronto stock market registered a solid gain late morning Monday as investors largely brushed aside data that indicated China's economic growth rate has slowed slightly. The S&P/TSX composite index was ahead 89.26 points to 13,977.47, adding to last week's one per cent gain, with strength coming from miners and tech companies. PHOTO. will be updated ___ Loonie up ahead of rate announcement Loonie TORONTO _ The Canadian dollar was higher Monday, ahead of a mid-week announcement on interest rates and the economy from the Bank of Canada . The loonie was well off the highs of the session by late morning but still ahead 0.09 of a cent to 91.2 cents US on a relatively quiet day, with U.S. markets closed for the Martin Luther King holiday. PHOTO. will be updated ___ Osisko formally rejects Goldcorp takeover bid Goldcorp-Osisko MONTREAL _ Osisko Mining Corp. (TSX:OSK) said Monday that shareholders should give its board time to find an alternative to Goldcorp's hostile $2.6-billion takeover offer, which it called opportunistic and inadequate. The gold miner, which said it was working with its advisers including talks with third-parties regarding "strategic alternatives," urged its shareholders not to tender their stock to the Goldcorp bid. ___ Bombardier delivered 238 aircraft in 2013 Bombardier MONTREAL _ Bombardier Aerospace continued to feel the effects of a sluggish global economy last year as business jet deliveries missed company forecasts and net new orders fell dramatically. Bombardier Inc. (TSX:BBD.B) said Monday it delivered 238 aircraft in 2013, missing its own forecast on lower-than-expected business jet shipments, and received 19 per cent fewer orders during 2013. ___ TransCanada announces $190M asset sale TransCanada-Cancarb CALGARY _ TransCanada Corp. (TSX:TRP) says it has reached a deal to sell Cancarb Ltd. , a facility in Medicine Hat, Alta. , that uses super-heated natural gas to make material for industrial and automotive products. The pipeline and utility giant says Japan's Tokai Carbon Co. Ltd. is buying Cancarb for $190 million .


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Source: Canadian Press DataFile


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