Business staffing plans for Wednesday, July 22
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[July 22, 2009]

Business staffing plans for Wednesday, July 22

(Canadian Press DataFile Via Acquire Media NewsEdge) BUSINESS EDITORS:@ Here are CP Business staffing plans as of 4:30 p.m. ET. Plans may change as circumstances warrant.

Queries should be addressed to business editor John Valorzi at 416-507-2146 or David Paddon on the business desk at 416-507-2138 or Craig Wong at 613-231-8631. To contact CP Business by email, send messages to business(at)thecanadianpress.com.



___@ In addition to the following, a story slugged BC-Canada-U.S.-Protectionism will move General (G) and Business (B). A story slugged BC-Via-Strike will also move G and B. Please guard against duplication.

___@ TORONTO _ Research In Motion (TSX:RIM) is remaining steadfast in its pursuit of Nortel Networks' wireless business, despite not submitting a bid before the auction closed, but the BlackBerry maker is really after several key patents that aren't included in the deal, and could help secure its future as a mobile phone technology leader. 700 words. By David Friend. BC-Nortel-RIM. Moved. Will be Updated.



___@ MONTREAL@ _ Cable TV operator Videotron, which is setting up a wireless phone network, has negotiated a deal with Rogers Communications Inc. (TSX:RCI.B) so Videotron can roam exclusively on the Rogers network in Canada. The deal, announced Wednesday, will help provide future Videotron wireless customers outside the Quebec company's coverage area access to a national wireless network so they can make cellphone calls from anywhere in Canada. 550 words. By LuAnn LaSalle. BC-Videotron-Rogers, 2nd Writethru. Unbudgeted story moved.

___ MONTREAL _ Mega Brands (TSX:MB) new Battle Strikers toy has topped Hamleys list of must-have toys for next Christmas. It marks the first time that the struggling Canadian toy maker has made the influential British toy retailer's holiday list. 550 words. By Ross Marowits. BC-Christmas-Toys, 1st Writethru. Unbudgeted story moved.

___@ OTTAWA _ Canadians started buying again in May, an indication of a growing confidence the economy was improving. But there was also the first sign that the federal government's stimulus package _ in particular, the $3-billion home renovation tax credit _ was influencing Canadian behaviour. 600 words. By Julian Beltrame. BC-Retail-Economy. Moves Business (B) and General (G).

___@ TORONTO _ New Statistics Canada retail data showing that auto-related sales increased by 8.3 per cent month over month in May indicate that the auto sales slump is slowly but surely starting to reverse itself, industry experts say. It could still be years before sales return to where they were before the global recession began, but the new numbers provide hope that the worst is over. 700 words. By Kristine Owram. BC-Auto-Recovery, 1st Writethru. Moved.

___@ TORONTO _ Shoppers Drug Mart Corp. (TSX: SC) boosted its second-quarter profits by 7.5 per cent, helped by an increase in prescription sales and the expansion of its store space, the countrys largest pharmacy chain announced Wednesday. Canada's largest drug store operator said its net income grew to $136 million in the second quarter from $127 million a year ago, as sales edged up 8.5 per cent to nearly $2.3 billion. 600 words. By Maria Babbage. BC-Shoppers-Drug, 1st Writethru. Unbudgeted story moved.

___@ CALGARY _ Suncor Energy Inc. (TSX:SU), days away from becoming Canada's biggest energy company, said low oil prices were the main factor behind its $51 million second-quarter loss. 600 words. By Lauren Krugel. BC-Suncor-Earnings, 1st Writethru@ ___@ CALGARY _ Paramount Energy Trust (TSX:PMT.UN) says it's curtailing production in response to the downturn in natural gas prices. The trust said Wednesday it has voluntarily shut in, or is about to shut in, production totalling about 35 million cubic feet per day. 500 words. By Lauren Krugel, BC-Paramount-Energy, 2nd Writethru. Moved.@ ___@ VANCOUVER - West Fraser Timber Co. Ltd. (TSX:WFT) said it will keep cutting costs and production as it enters the fourth year of what its CEO called "the most severe depression in the wood products industry since the 1930s." 650 words. By Brenda Bouw West-Fraser-Timber. Moved. Will be Updated@ ___@ BERLIN@ _ Germany said Wednesday that it still favours a consortium led by Canada's Magna International Inc. (TSX:MG.A) to take over General Motors Co.'s Opel unit. The German government said it hoped for an agreement over the next week with the U.S. auto maker. 650 words. By Geir Moulson. BC-Magna-Opel, 2nd Writethru. Moved.

___ CHICAGO@ _ Airplane maker Boeing says its second-quarter earnings rose 17 per cent to beat analyst expectations amid robust defense sales and higher operating profit for its commercial aircraft division. Chicago-based Boeing earned US$998 million, or $1.41 per share. 600 words. By Daniel Lovering. BC-Boeing, 1st Writethru. Moved.

___ NEW YORK _ Oil prices dipped Wednesday after a government report showed U.S. fuel supplies are growing, with American consumers buying less gas even at a huge discounts to last year. 450 words. By Chris Kahn. BC-Oil Prices, 1st Writethru. Moved ___@ The Canadian Press is also following:@ TORONTO _ The Toronto stock market was slightly higher mid-afternoon Wednesday as Canadian bank stocks advanced and investors got over a disappointing earnings report from Suncor Inc. (TSX:SU). By Malcolm Morrison. BC-Dollar-Markets, 4th Writethru. Moved. Will be Updated.

___@ ST. JOHN'S, NL. _ Power producer and distributor Fortis Inc. (TSX:FTS) says it has raised its stake in Bermuda-based Caribbean Utilities Company Ltd. (TSX:CUP.U) to 59.5 per cent. BC-Fortis. Moved.

___@ HALIFAX _ Nova Scotia Power Inc.'s ability to meet renewable energy targets was thrown in question Wednesday after the province's regulator rejected its request to approve a proposal that would see the utility burn waste wood to create electricity, By Keith Doucette. BC-NS-Biomass-Ruling, 2nd Writethru Bgt. Moved.

___@ HALIFAX@ _ Gammon Gold Inc. (TSX:GAM) says it will lower its 2009 production guidance by about 19 per cent due to a seven-week strike at one of its mines in Mexico but will keep its 2010 guidance intact. The gold and silver producer said Wednesday it is expecting to produce 150,000 to 170,000 ounces of gold instead of its earlier forecast of 185,000 to 205,000 ounces. 222 words. BC-Gammon-Gold.

___ MONTREAL@ _ Semafo Inc. (TSX:SMF), a Montreal-based miner, says it has acquired from Etruscan Resources Inc. (TSX:EET) their minority interest in the Samira Hill mine in the West African country of Niger. Semafo now holds an 80 per cent stake in the mine with, with the rest held by the Niger government. 298 words. BC-Semafo-Samira-Hill. Moved.

___ MONTREAL@ _ Golden Goose Resources Inc. (TSXV:GGR), a junior Montreal miner, says it has struck a deal to sell its Montauban properties in Quebec to Excel Gold Mining for $150,000 and a royalty on future production. The Montauban properties are located 100 kilometres northeast of Shawinigan, Que. and include a past producing mine. 76 words. BC-Golden-Goose.

___ OTTAWA@ _ The environmental impact of the proposed Hebron oil and gas project off Newfoundland's coast will continue to be assessed through a comprehensive study, Environment Minister Jim Prentice said Wednesday. That means the project can no longer be referred to mediator or review panel, according to the ministry. 211 words. BC-Prentice-Hebron, 1st Writethru. Moved ___ OTTAWA@ _ Retail sales rose 1.2 per cent in May to $34 billion, more than offsetting a modest decline in April. Statistics Canada reports sales increased in seven of eight sectors, led by a 2.4 per cent increase in the automotive sector. 244 words. Moves (B) Business) and (G) General. BC-StatsCan-Retail.

___ TORONTO@ _ Restaurant operator Priszm Income Fund (TSX:QRS.UN) said Wednesday it was slashing its monthly cash distribution by 80 per cent as restaurant sales flagged during the second quarter. The Toronto-based fund, which gets royalties on sales at more than 400 KFC, Taco Bell and Pizza Hut restaurants across Canada, reported net earnings of $1.8 million for the quarter ended June 14. The results represented a decline from year-earlier profits of $2.8 million. 155 words. BC-Priszm.

___ TORONTO@ _ Timminco Ltd. (TSX:TIM) said Wednesday it plans to lay off up to 60 employees amid weak second-quarter demand for its upgraded metallurgical silicon, used in making solar energy cells. The Toronto-based miner said it unloaded just 14 per cent of its quarterly inventory, shipping just 34 of the 243 metric tons produced during the period. Timminco was already operating at reduced capacity, running three of the seven available purification lines at its operations. 251 words. BC-Timminco.

___ MISSISSAUGA, Ont.@ _ Fuel-cell maker Hydrogenics Corp. (TSX:HYG) said Wednesday it has terminated a manufacturing and supply deal with American Power Conversion Corp., a move that sent the company's shares tumbling more than seven per cent. The agreement, signed three years ago, was for Hydrogenics to supply APC with up to 500 fuel cell power modules over a three-year period. 229 words. BC-Hydrogenics.

___ WINNIPEG _ Canwest Global Communications Corp. (TSX:CGS) says it will close local television stations CHEK-TV in Victoria and CHCA-TV in Red Deer, Alta., by Aug. 31. Canwest will keep CHBC-TV station in Kelowna, B.C., as a Global affiliate. BC-Canwest.

___@ CALGARY@ _ Precision Drilling Trust (TSX:PD.UN) said Wednesday a foreign exchange gain helped double profits during the second quarter, while revenues were boosted by the acquisition of U.S.-based driller Grey Wolf Inc. The Calgary-based trust reported net earnings of $57 million or 22 cents per unit for the quarter ended June 30, compared to profits of $22 million or 16 cents per unit. A $43 million increase in finance charges was offset by the foreign exchange gain, which totalled $74 million or 20 cents per unit. 298 words. BC-Precision-Drilling. Moved. Will be Updated after 2 p.m. ET conference call.

___ CALGARY@ _ A German company will own 70 per cent of the Breagh gas field in the U.K. North Sea, while Calgary-based Sterling Resources (TSXV:SLG) will continue to own 30 per cent after a pair of tranactions announced Wednesday. RWE Dea AG of Hamburg will pay C$130 million to buy a 15 per cent working interest in the field from Sterling and US$61.751 million to buy the 10 per cent stake that's held by Calgary-based Stratic Energy Corp. (TSXV:SE). 273 words. BC-Breagh-Gas-Field.

___ VEGREVILLE, Alta. _ TerraVest Income Fund (TI.UN) fell sharply Wednesday after the trust said that it would stop paying distributions to conserve cash and reduce debt. BC-TerraVest. Moved.

___@ CALGARY@ _ Husky Energy issues second-quarter results after markets close. Conference call to be held Thursday afternoon. BC-Husky.

___@ VANCOUVER _ Teck Resources reports financial results after stock markets close Wednesday. BC-Teck-Resources ___@ DUBAI, United Arab Emirates _ BlackBerry users in the Middle East business centres of Dubai and Abu Dhabi who were directed by their service provider to upgrade their phones were actually installing spy software that could allow outsiders to peer inside, according to the device's maker. By Adam Schreck. BC-ML-UAE-Blackberry-Spying. Moves World (W) and Business (B) ___@ THURSDAY BUSINESS CALENDAR: DENVER _ TSX-listed Newmont Mining Corp. will release its second-quarter earnings at 8 a.m. followed by a conference call at 10 a.m. Dial 1-888-469-2059 or go to http://www.newmont.com for webcast. (10 a.m.) MONTREAL _ Transportation and logistics company TransForce reports second-quarter earnings followed by a conference call. Dial 1-800-908-0783. (9 a.m.) OTTAWA _ Zarlink Semiconductor holds annual meeting. (10:30 a.m. at Zarlink corporate headquarters, 400 March Rd. ) x_OTTAWA _ Bank of Canada releases its latest economic outlook. Governor Mark Carney holds a news conference. 11:15 a.m. EDT TORONTO _ Investment Outlook and Opportunities Forum 2009. (12 p.m. at John Bassett Theatre, 255 Front St. West) X- TORONTO _ Finance Minister Jim Flaherty appears at a local event.

X-CALGARY _ Encana holds second-quarter results conference call. Go to http://www.encana.com for webcast. (11 a.m.) X-CALGARY _ Husky Energy holds conference call to discuss second-quarter results, released on Wednesday. Dial 1-800-597-1419 or go to http://www.huskyenergy.com for webcast. (2 p.m.) X-SASKATOON _ Potash Corp. of Saskatchewan will discuss second-quarter earnings on a conference call. Go to http://www.potashcorp.com for webcast.

X-VANCOUVER _ Teck Resources holds second-quarter earnings conference call. Go to http://www.teck.com for webcast. (8 a.m.) THE CANADIAN PRESS (c) 2009 The Canadian Press

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