News Column

Business News as of 3 p.m. ET

January 20, 2014

MONDAY, JAN. 20, 2014 , 3 p.m. ET BUSINESS NEWS ADVISORY Here are the top Business News stories from The Canadian Press as of 3 p.m. 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) . TOP BUSINESS NEWS THIS HOUR RBC rate cut small, but could set trend RBC-Mortgages TORONTO _ A move by Royal Bank to slightly decrease a number of fixed mortgage rates may prompt other banks to follow suit, but such changes shouldn't be a major consideration for homebuyers, a mortgage expert said Monday. ``From a mortgage broker's perspective and probably from a lot of homeowners' perspective, the real question is not necessarily interest rates,'' said Jason Scott , a mortgage broker with The Mortgage Group in Edmonton . BlackBerry shares move higher on optimism BlackBerry-Shares TORONTO _ BlackBerry (TSX:BB) shares rose more than nine per cent on Monday, after the smartphone company received a vote of confidence from the U.S. Department of Defense . The government agency says about 80,000 BlackBerrys will be deployed on its new mobile device management system by the end of this month. Will be updated. Weather caused billions in insurance payouts Severe-Weather-Insurance Ice, floods and thunderstorms made 2013 the worst year ever for insured losses in Canada . The Insurance Bureau of Canada (IBC) says the December ice storms in southern Ontario and eastern Canada caused more than $200 million worth of insured losses, pushing the total payouts to policy holders for the year to $3.2 billion . PHOTO. Will be writethru; Moves on both national and business wires; Guard against duplication. WestJet Encore going to Toronto in summer WestJet-Encore WestJet Airlines unveiled Monday details for the eastern expansion of its regional WestJet Encore service this summer. The Calgary -based airline said WestJet Encore will start June 27 with routes between Toronto and Thunder Bay, Ont. and between Thunder Bay and Winnipeg . PHOTO. Moves Business, National and Travel. Will be updated. 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 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 79.69 points to 13,967.9, adding to last week's one per cent gain, in a strong advance across all sectors. 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 Company drops tidal test site in Nova Scotia Tidal-Power-Berths HALIFAX _ One of the companies with a berth to test tidal turbines at a research site in the Bay of Fundy is opening up its spot to other bidders. The Nova Scotia government says Alstom has informed the province it is releasing its berth in order to focus on developing its technology in Scotland . Moves Atlantis and Business; please guard against duplication 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 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. PHOTO. British Airways ordered to make changes British-Airways-Bumping MONTREAL _ The Canadian Transportation Agency has ordered British Airways to improve its passenger compensation for disrupted flights, potentially by bringing the carrier in line with the changes it required Air Canada to make last year. The regulator said the London -based carrier must rewrite its policies governing the rights of passengers who are denied boarding or face flight delays or cancellations, as well as policies governing damaged and delayed baggage. Drabinsky granted full parole Drabinsky-Parole TORONTO _ Disgraced theatre mogul Garth Drabinsky has been granted full parole. Drabinsky, 64, thanked the two-member parole board panel after an emotional two-hour hearing during which he described the strain of living apart from his family after being convicted of fraud. Will be writethru 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 . Death of man at oilsands site not suspicious Suncor-Death FORT MCMURRAY _ RCMP say the death of a man found in a dumping area at the Suncor (TSX:SU) oilsands site in northern Alberta is not suspicious. Officers found the 40-year-old man from Fort McMurray after responding to a call about a missing person. Moves on west-regional and business wires. Guard against duplication THE CANADIAN PRESS ( The Canadian Press )

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Canadian Press Broadcast Wire (Canada)

Story Tools