Gold stocks lift TSX to 19-month high; financials slip
TORONTO (Reuters) - Canada's main stock index closed up on Tuesday and hit a 19-month high earlier in the day as gold shares made strong gains on the highest bullion price in nearly two weeks, helping offset worries about the European economy and weakness in financials. The price of gold climbed more than 1 percent after a top European Central Bank official said the euro zone crisis was not over, which enhanced gold's safe-haven attraction.
Analysis: Experts see risks from Canada's fixation on balanced budget
OTTAWA (Reuters) - The government's steely determination to balance Canada's budget by 2015 could brake an economy that is already showing signs of strain, as Ottawa seeks to rebuild a reputation for prudence that made it the envy of the industrialized world. The 2013-14 federal budget, due later this month, is set to reinforce the government's message that the deficit will be eliminated by 2015, an election year, and it will include what Finance Minister Jim Flaherty called "more sacrifices" from various ministries in the form of spending cuts.
Air Canada wins extension on cap on special pension payments
OTTAWA (Reuters) - Air Canada
MetroPCS defends T-Mobile USA deal, FCC approves it
NEW YORK (Reuters) - MetroPCS Communications Inc
Alamos CEO says likely to drop Aurizon bid if it loses regulatory ruling
(Reuters) - Alamos Gold Inc
Credit Suisse reverses cautious stand on equities
NEW YORK (Reuters) - One month after turning cautious on global stock investing, the investment committee of Credit Suisse Group's
Chesapeake noteholders, BNY Mellon escalate bond battle
(Reuters) - Chesapeake Energy Corp
Chevron projects on target for 25 percent growth by 2017
NEW YORK (Reuters) - Chevron Corp
Alberta regulator plans massive fee boost for well reclamation
CALGARY, Alberta (Reuters) - Industry fees for an oil-well reclamation program in Alberta, the biggest oil exporter to the United States in the world, will rise more than 20-fold, the Canadian province's energy regulator said on Tuesday after undertaking the first review of the program in seven years. The Energy Conservation Review Board said it will require 248 companies to post financial deposits totaling of C$297 million ($290 million) to ensure that the costs of well abandonment and reclamation are covered by the oil industry.
Euro woes not over, says crisis-wary Bundesbank
FRANKFURT (Reuters) - A wary German central bank said on Tuesday it had set aside billions more euros against what it deems risky European Central Bank moves, and criticized France directly for "floundering" in its reform drives. Presenting Bundesbank 2012 results, Jens Weidmann, the bank's chief, said the euro zone crisis, which has eased as a result of ECB funding promises, was not over. He urged governments to tackle the roots of their troubles with reforms.