Canada says it may take EU to WTO over oil sands dispute
BRUSSELS (Reuters) - Canada threatened on Wednesday to take the European Union to the World Trade Organization over its plans to label Canadian oil sands as dirty, but promised not to delay a bilateral trade pact. The issue has overshadowed relations as Canada and the EU try to deepen economic ties through a trade deal that could generate $28 billion a year in new business and commerce.
Quebec lays out plans to raise mining taxes
(Reuters) - The Quebec government has laid out plans to extract up to C$1.8 billion (US$1.8 billion) more in taxes from the mining sector over the next 12 years, with measures that include a minimum royalty, arguing that Quebecers need to see greater benefits from mining ventures in the province. The new taxation plan, less punishing than a scheme the separatist Parti Quebecois had promised in its 2012 election campaign, came as sagging demand and falling metal prices cut into already tight margins in the mining sector.
One in five Canadians are born abroad, survey shows
OTTAWA (Reuters) - Canada is more than ever a nation of immigrants, with one in five Canadians born outside the country, according to a 2011 survey released by Statistics Canada on Wednesday. That 20.6 percent proportion of people born abroad, up from 19.8 percent five years previously, is far bigger than in most other rich industrialized countries.
Thirty horses on way to slaughter die in New York trailer fire
(Reuters) - Thirty horses being taken to slaughter in Canada were burned alive when the tractor-trailer transporting them caught fire on an upstate New York highway, state police said on Tuesday. The horses were on their way to a rendering plant in Quebec on Monday evening when the incident occurred on Interstate 81 near the town of Lisle, about 55 miles south of Syracuse, police said.
Canada loses WTO appeal in renewable energy case
BRUSSELS (Reuters) - Canada lost an appeal at the World Trade Organization on Monday in a ruling on incentives offered to local companies, a case that has already led to legal challenges over suspicions of similar perks elsewhere. Japan and the European Union brought the case over a scheme intended to promote renewable energy in the province of Ontario.
Canadian minister takes fight for oil sands crude to Europe
OTTAWA (Reuters) - A European Union plan to label crude from the Alberta oil sands as dirty is unfair and could damage Canada's bid to find new export markets, the Canadian resources minister said at the start of a mission to lobby against the idea. As part of a plan to cut greenhouse gases from transport fuel, the EU's executive commission has developed a Fuel Quality Directive that would single out oil from Alberta's tar sands as more polluting than conventional crude.
Ontario unveils budget, opposition support not clear
TORONTO (Reuters) - Ontario's minority Liberal government unveiled a budget on Thursday that projected a narrower-than-expected 2013-14 deficit and included measures aimed at securing opposition support and preventing an early election for Premier Kathleen Wynne. However, it was not clear whether the budget will receive enough support to keep the Liberals in power, as opposition New Democratic Party leader Andrea Horwath said she would consult with voters before deciding what to.
Surprise Bank of Canada chief stands ready to nurture economy
OTTAWA (Reuters) - Canada tapped an outsider on Thursday to head its central bank, bringing in the well-respected head of the Canadian export credit agency, who immediately stressed the need to nurture a choppy economic recovery. Incoming Bank of Canada Governor Stephen Poloz, 57, worked at the central bank for 14 years earlier in his career. But he has spent the last 14 years at Export Development Canada.
Canada says new Bank of Canada governor to be named 'soon'
OTTAWA (Reuters) - Canadian Finance Minister Jim Flaherty said on Thursday the new Bank of Canada governor would be named "soon", a spokesman for the minister said. The replacement for Governor Mark Carney, who is stepping down on June 1 to head to the Bank of England, is widely expected to be named later on Thursday, possibly at 4 p.m. EDT.
Hedge fund faces challenge in Tim Hortons shakeup bid
TORONTO/NEW YORK (Reuters) - Highfields Capital, a U.S. hedge fund agitating for change at Tim Hortons Inc, may have a hard time convincing institutional investors that the chain that says it sells eight out of every 10 cups of coffee in Canada needs a wake-up call. The Boston-based activist investor, with an about 4 percent stake in the company, wants Tim Hortons to boost shareholder returns by taking on new debt to buy back its stock.
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