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GM Canada executive leaves for Manulife (National Post)
The most public face of General Motors Corp. in Canada is leaving the company just as it steers into a potential bankruptcy protection filing. Canada posts surprise 2.7% drop in factory sales (National Post)
Manufacturing sales fell unexpectedly in March, led by declines in durable goods, aerospace products and motor vehicle parts, Statistics Canada reported Friday. Factory sales were down 2.7% to $41.4-billion during the month from $42.6-billion in February. Canada: Cos Overpay Taxes To Get High Interest Rate On Return (Nasdaq)
OTTAWA (AFP)--Companies in Canada are routinely overpaying their taxes to collect higher-than-market interest on the balance from the taxman, the auditor general said Tuesday. Top Petro-Canada supporter against Suncor deal (National Post)
Daniel Brosseau, president of Letko Brosseau & Associates, a Montreal money manager with about 2.1% of Petro-Can’s stock or 10.4 million shares, said under the deal Petro-Canada shareholders will receive only 38% of the new entity, while Suncor’s will receive 62% ING Canada posts first-quarter loss (National Post)
Home and auto insurer ING Canada Inc. posted a first-quarter loss as weak equity markets led to investment losses. EU stumbles on Canada's internal barriers (National Post)
The historic free-trade negotiations between Canada and the European Union were launched to much fanfare this month, but reaching a deal between the 27-country economic bloc and the provincially dominated federation of Canada will not be a walk in the park. Parks Canada looks to dump Wasagaming (CJOB News First)
The federal parks department is looking to unload Wasagaming from its responsibilities. The restort town on Clear Lake in Riding Mountain National Park is managed by Parks Canada, which costs Ottawa 1.5 million dollars a year. Total sees 10% of output from Canada, Venezuela in 15 years (National Post)
Total SA, Europe’s third-largest oil company, said heavy oil from Canada and Venezuela will make up about 10% of its output and 15% of reserves within 15 years. BMO sees Canada M&A activity picking up (National Post)
Merger and acquisition activity in Canada is likely to pick up toward the end of the year as companies shift their focus from survival to growth, said Daniel Barclay, head of Canadian M&A at BMO Capital Markets Canada won't back GM without sacrifices by all: PM (Reuters via Yahoo! News)
Prime Minister Stephen Harper said on Friday taxpayer support for General Motors Corp's Canadian operations hinges on all stakeholders making sacrifices, even as the head of the Canadian Auto Workers said GM was expecting too much from concession talks.
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