(Reuters) – Diversified retailer Canadian Tire Corp reported lower net income on Thursday, but adjusted earnings and revenue both rose, and the company boosted its dividend. The firm, which sells housewares, automotive products, sporting goods and apparel, said it would raise its quarterly dividend 17 percent to 35 Canadian cents a share. Net income fell to C$131.4 million ($132.0 million), or C$1.61 a share, from C$136.5 million, or C$1.67, a year earlier. Excluding a tax benefit in the prior year and other items, the company said earnings rose 3.5 percent. Revenue rose 4.6 percent to C$2. …
Canada dollar pares losses after North American data
TORONTO (Reuters) – The Canadian dollar pared early losses against the U.S. dollar on Thursday after North American economic data, which included rising exports in Canada and lower U.S. weekly jobless claims. The Canadian dollar traded at C$0.9964 to the U.S. dollar, or $1.0036, firmer than the C$0.9970, or $1.0030 it was trading at prior to the data. It was still marginally weaker than Wednesday’s North American close of C$0.9961, or $1.0039. (Reporting by Solarina Ho; Editing by Jeffrey Hodgson)
Canada trade deficit unexpectedly narrows as exports rise
OTTAWA (Reuters) – Canada’s trade deficit fell unexpectedly to C$826 million ($826 million) in September as exports increased by 1.9 percent while imports were unchanged, Statistics Canada data indicated on Thursday. Market operators had expected a C$1.50 billion deficit. Statscan revised August’s shortfall to C$1.52 billion from an initial C$1.06 billion to take into account new methods of calculating the data. …
Canada new home prices rise 0.2 percent in September
OTTAWA (Reuters) – Prices of new homes in Canada rose for the 18th consecutive month in September, increasing by 0.2 percent from August on continued stren gth in Toronto, the nation's largest city, Statistics Canada said on Thursday. The advance matched analysts' expectations. Prices for new homes in the combined Toronto-Oshawa metropolitan region, which accounts for 26.6 percent of the entire Canadian market, rose by 0.6 percent from August on market conditions and higher labor costs. Overall, new housing prices increased in eight metropolitan areas, were unchanged in eight and fell in five. … Air Canada operating profit rises as costs fall
(Reuters) – Air Canada reported a 56 percent rise in third-quarter operating profit from a year earlier, marking a turnaround from the second quarter when bookings slumped in the wake of wildcat str ikes and the collapse of its maintenance contractor. Air Canada and WestJet Airlines Ltd , its main rival, have been able to hike fares this year without scaring away passengers as both have kept a tight lid on capacity increases, even during the busy flying months over the summer. Air Canada said it planned to increase its system capacity by 1.5-3.0 percent for 2013. … Nice start, but not enough for corporates in India reform drive
GURGAON, India (Reuters) – India Inc. demanded simpler tax rules, faster project approvals and tougher rules on corruption at an economic summit on Thursday, as companies challenged the government to push for deeper economic fixes than a handful of recent reforms. Tempers frayed between frustrated executives and defensive ministers, and social activists took officials to task on a lack of action from the government, despite a much-trumpeted set of initiatives in response to slowing economic growth. …
Britain to reexamine ways to end Syrian conflict
LONDON (Reuters) – Britain wants to reexamine previously abandoned options in looking at ways to end the conflict in Syria, Prime Minister Dav id Cameron's office said on Thursday. An official declined to elaborate when asked whether those options included reviewing the EU arms embargo on Syria, which forbids sending weapons to the rebels, or imposing a no-fly zone, but said nothing would be ruled out. "The prime minister wants to come back and look at things that were on the table a year ago which we didn't want to do then. He wants to put them back on the table," the official said. … Syria conflict: Here come the weapons?
The Syrian conflict could be set for an influx of arms in the coming months, as Britain is reviewing its legal options for supplying weapons to the Syrian rebels despite an EU arms embargo on the conflict, and Turkey is in discussions with NATO to deploy Patriot missile interceptors along its southern border.
McDonald's same-store sales fall, first time in 9 years
(Reuters) – McDonald's Corp on Thursday reported a 1.8 percent drop in October sales at established restaurants around the world, its first month ly sales fall since March 2003, hurt by stiff competition in a weak economy. Analysts, on average, expected a 1.07 percent decline in sales at restaurants open at least 13 months, according to Consensus Metrix. The results came just weeks after the world's biggest hamburger chain posted its worst quarterly restaurant sales growth performance in nine years. October sales at restaurants open at least 13 months fell 2. … Suicide bomber kills 3 Pakistani troops in Karachi
A Taliban suicide bomber rammed a truck packed with explosives into a compound housing a paramilitary force in Pakistan's largest city on Thursday, killing three officers and wounding 20. Toronto police to give update on investigation into deadly BBQ shootout
TORONTO – Toronto’s police chief is set to give an update on the investigation into this summer’s deadly shooting at an east-end block party.
Bedsocks all the rage for cash-strapped BRRRRitons
LONDON (Reuters) – Cash-strapped consumers in austerity Britain trying to hold down rising heating bills are rushing out to buy socks designed to be worn in bed, according to UK manufacturer HJ Hall. HJ Hall said it would normally sell around 3,000 pairs of bedsocks a month between October and February, but this October sold more than 9,000 pairs. 86 percent of the people it polled said they were buying the socks to delay putting on the heating. …
Cameron warns of witch-hunt against gays in paedophile scandal
LONDON (Reuters) – British Prime Minister David Cameron warned on Thursday that speculation about the identity of an unidentified member of his ruling Conservative party accused of sexually abusing children could turn into a witch-hunt against gay people. Cameron, who leads a troubled two-party coalition, ordered an investigation this week after a victim of child sexual abuse in Wales said a prominent Conservative political figure had abused him during the 1970s. …
"Conflict-free" tags help revive Congo minerals trade
NYABIBWE, Democratic Republic of Congo (Reuters) – Miners clustered in a muddy riverbed in eastern Democratic Republic of Congo watch as a bag of tin ore is weighed on scales hung from a shovel and then sealed with a small plastic tag. The simple “bag and tag” initiative could allow mineral exports from Congo’s violent east to flow legally again for the first time since a U.S. law targeting conflict minerals largely brought the trade, a mainstay of the economy, to a standstill. The tag certifies the tin ore is conflict-free to ensure it will not fall foul of the Dodd Frank Law. …
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