Business News as of 9 a.m. ET
(Canadian Press DataFile Via Acquire Media NewsEdge) WEDNESDAY, DECEMBER 11, 2013 at@@ 9 a.m. ET
BUSINESS NEWS ADVISORY
Here are the top Business News stories from The Canadian Press as of 9 a.m. ET. All times are 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@
Hudson's Bay reports bigger Q3 loss
TORONTO _ Hudson's Bay Co. (TSX:HBC) reported a larger net loss in its latest quarter, mostly due to costs related to its acquisition of Saks Inc. last month, and despite seeing strong sales across various departments and over e-commerce,The national retailer reported a net loss of $124.2 million, or $1.04 per share for the period ended Nov. 2, compared with $14.4 million, or 14 cents per share, a year earlier. Will be updated
Odds improving for CPP enhancement
OTTAWA _ Advocates for enhancing the Canada Pension Plan say they are approaching the consensus required to press ahead with reform that would see both premiums and benefits rise in the future. Expansion of the pension plan will be the No. 1 item under consideration at the annual end-of-year meetings of federal and provincial finance ministers, which take place Sunday and Monday in Ottawa, and some see momentum building for an agreement in principle. Moves Business and National
RE/Max sees 'exceptionally healthy' market
MISSISSAUGA _ Canada can expect an "exceptionally healthy" housing market in 2014 thanks to improvements in the overall economy that helped produce a surge in the latter half of this year, a leading real estate group said Wednesday.Re/Max says that nationally, home sales are expected to climb two per cent to 475,000 units next year after a three per cent increase to well over 453,000 projected for 2013 when all the numbers are in. Moves Business and National
Encana to grow natural gas production by 30%
CALGARY _ Encana Corp. (TSX:ECA) says it wants to increase its production of natural gas liquids by 30 per cent next year, as it focuses on growing in five resource areas across North America.The natural gas giant said it will focus 75 per cent of a planned $2.4 billion to $2.5 billion capital investment in 2014 in the liquid-rich regions of Montney, Duvernay, DJ Basin, San Juan Basin and the Tuscaloosa Marine Shale.
TSX to open lower, HBC posts larger net loss
TORONTO _ The Toronto stock market looked set for a slightly lower open Wednesday amid lower commodity prices and earnings from Canada's oldest company.Hudson's Bay Co. (TSX:HBC) reported a larger net loss in its latest quarter, mostly due to costs related to its acquisition of U.S. retailer Saks Inc. last month. The retailer reported a net loss of $124.2 million, or $1.04 per share, compared with $14.4 million, or 14 cents per share, a year earlier. Ex-items, earnings were seven cents a share compared with a loss of $300,000 or zero cents per share in the third quarter of 2012. will be updated
Canadian dollar rises for third day in a row
TORONTO _ The Canadian dollar gained ground for a third day Wednesday amid generally lower commodities and an improving global economy.The loonie rose 0.39 of a cent to 94.32 cents US. will be updated
ALSO IN THE NEWS
'Responsible' overused on LinkedIn profiles
MONTREAL _ In this case, being responsible is overrated.It's the No. 1 most overused buzzword on LinkedIn profiles in Canada, and globally, in 2013.
Cyprus takes steps to bring down joblessness
NICOSIA _ Cyprus has earmarked 340 million euros ($467.5 million) to help combat joblessness, which is expected to peak next year at over 19 per cent in the bailed-out country.President Nicos Anastasiades says 300 million euros _ half of which will come from the European Investment Bank _ will be channeled to commercial banks for low-interest loans to small- and medium-sized businesses. APNewsNow.
Pay gains for young women; inequality still seen
WASHINGTON _ About 75 per cent of young women believe the U.S. needs to do more to bring about equality in the workplace, a new study finds, despite a narrowing pay gap and steady employment gains for women at higher levels of business and government. Those women remain as pessimistic as their mothers and grandmothers regarding gender equality in the workplace, according to the report released Wednesday by the Pew Research Center. PHOTO.
GM to stop making cars in Australia by 2017
CANBERRA _ General Motors Co. said Wednesday it will stop making cars and engines in Australia by the end of 2017, with nearly 2,900 jobs to be lost, because of high production costs and competition .The decision could spell the end of car manufacturing in Australia as the industry will be too small for supporting businesses such as parts makers to remain economic. Toyota Motor Corp. announced it is reassessing its future in Australia. A union said 50,000 jobs in the auto industry are in jeopardy. PHOTO.
(c) 2013 The Canadian Press
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