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Business Budget lines for Oct. 22(Canadian Press DataFile Via Acquire Media NewsEdge) BUSINESS EDITORS: Here are The Canadian Press Business Budget lines at 9:30 p.m. ET. In addition to the following, a story slugged BC-BoC-Economy-Outlook, 4th Writethru has moved General (G) and Business (B). Please guard against duplication. TORONTO _ Corus Entertainment Inc. (TSX: CJR.B) posts fourth quarter profit of $18.7 million or 23 cents a share, up from $17.4 million or 21 cents a share last year. Revenue increased to $195.2 million from $185.8 million as an increase from television more than offset a decline from radio. By David Friend. BC-Corus-Entertainment. Moved. TORONTO -- Retirement is taking on a whole new definition as more Canadians face the possibility they will need to support their aging parents, even as they wrap up their final years in the workforce, and put the finishing touches on their own financial future. 700 words.. By David Friend. BC-Money-Monitor. Moved. MONTREAL _ Canada is lagging on telecommunications spending which will be a key component of the global economic recovery, Quebecor (TSX:QBR.B) CEO Pierre Karl Peladeau said Thursday. Europe and the United States are spending billions of dollars on telecommunications infrastructure, with spending in Britain and France, for example, some three times greater than in Canada, he said. 500 words. By Ross Marowits. BC-Business-Future, 3rd Writethru. Moved. MONTREAL _ Bombardier (TSX:BBD.B) may be forced to cut business jet production and jobs next year because of a slow intake of new orders, an industry analyst said Thursday. 550 words. By Ross Marowits. BC-Bombardier. Moved. Will be Updated. TORONTO _ A recent uptick in high-profile hostile merger and acquisition activity indicates that rebounding financial markets may be creating a disconnect between the value bidders assign to their targets and how those targets value themselves. 700 words. By Kristine Owram. BC-Hostile-M&A. Moved. TORONTO _ Electronics manufacturer Celestica Inc. (TSX:CLS) generated a small third-quarter loss, reversing a year-earlier profit, as the recession helped cut revenues 20 per cent and the company booked higher restructuring costs from earlier job cuts. By Kristine Owram. BC-Celestica, 3rd Writethru Budget. Moved. TORONTO _ Things appear to be looking up for federally regulated private pension plans in Canada, according to the Office of the Superintendent of Financial Institutions. 600 words. By. B.H. McKenna. BC-OSFI-Pension-Plans, Budget. Moved. Will be Updated. CALGARY _ The future of Harvest Energy Trust's (TSX:HTE.UN) troubled refinery in Come By Chance, N.L., is looking much brighter after the state-owned Korea National Oil Corp. offered to buy the Calgary-based company for $4.1 billion in cash and debt, the firm's chief executive said Thursday. 950 words. By Lauren Krugel. AS-SKorea-Oil-Deal, 5th Writethru. Moved. CALGARY _ Precision Drilling Trust (TSX:PD.UN) saw its third-quarter profit fall to $72 million, a 13 per cent decline from the same time last year attributed to slow drilling activity throughout the North American energy industry. 600 words. By Lauren Krugel. Precision-Drilling, 3rd Writethru. Moved. CALGARY _ Preliminary work on the first phase of Husky Energy Inc.'s (TSX:HSE) Sunrise oilsands project is about 60 per cent complete to date, and the Calgary-based company expects its board of directors to give the development the final green light sometime next year. 500 words. By Lauren Krugel. BC-Husky-Energy, 2nd Writethru. Moved. UNDATED _ Continuing caution among buyers around the world pushed down third-quarter profits by nearly 80 per cent at Potash Corporation of Saskatchewan Inc. (TSX:POT) as fertilizer sales fell from their pre-recession heights. 650 words. By LuAnn LaSalle. BC-PotashCorp-Earnings, 4th Writethru. Moved. WASHINGTON _ U.S. federal regulators have taken an important step toward prohibiting broadband providers from discriminating against certain kinds of Internet traffic in a move that came just a day after Canadian regulators decided to allow the practice known as throttling. By Joelle Tessler. BC-US-TEC-Internet-Rules, 2nd Writethru Budget. Moved WASHINGTON _ Don't expect the government's decision to slash the pay of top executives at bailed-out companies to kill Wall Street's culture of excess. For now, it's not even clear how long the pay curbs will last or whether the companies might be able to bypass or reject them. By Martin Crutsinger and Stevenson Jacobs. See AP Photo. BC-Obama-Executive-Pay. Moved CHICAGO _ McDonald's Corp. profit climbed almost 6 percent in the third quarter, as U.S. customers gobbled up its newest, more expensive Angus burgers, the company said Thursday. But the company rattled investors when it said its strong domestic performance could finally falter in October because of the recession. 500 words. By Ashley M. Heher. BC-APFN-US-Earns-McDonald's, Bgt, 2nd Writethru. Moved. NEW YORK _ Sparked by a cold snap in the northeast, retail costs for home heating fuels are climbing even though supplies are well above normal for this time of year. Natural gas surged over $5 per 1,000 cubic feet and heating oil jumped above $2 a gallon in the past week. By Chris Kahn. BC-Oil-Prices, 2nd Writethru. Moved. NEW YORK _ A private forecast of economic activity rises for the sixth straight month in September, a sign the economy may keep growing early next year despite rising unemployment. By Tali Arbel. BC-US-Economy. Moved. NEW YORK _ American Express Co. (NYSE:APX) reported its eighth straight quarter of falling profits on Thursday as consumers spent and borrowed less. However, while the New York-based credit card company reported a 22 per cent drop in earnings, it said there are signs that the decline in spending could be stabilizing and the rise in loan losses easing. 704 words. By Sara Lepro. BC-US-Earns-American-Express, Budget. SHANGHAI _ Lavish government spending and bank lending helped China's growth rate accelerate to an 8.9 percent pace in the third quarter, far outstripping expansions elsewhere around the globe and raising questions about whether the rapid rebound can be sustained. By Elaine Kurtenbach. See AP Photos. BC-AS-China-Economy, 1st Writethru. Moved. The Canadian Press is also following: MONTREAL _ CAE Inc. (TSX:CAE) announced Thursday it was awarded a series of military contracts totalling more than $75 million. The Montreal-based company which makes pilot simulators and provides aviation training, said it would be providing services to support military and homeland security programs in Canada and the United Kingdom. BC-CAE-Contracts. Moved. MONTREAL _ Alcoholic beverage company Diageo said Thursday it will be closing a bottling plant in Quebec and moving its production to Ontario, a move that will impact 65 workers. BC-Diageo-Shutdown, 1st Writethru. Moved Datafile only OTTAWA _ Retail sales rose 0.8 per cent in August to $34.5 billion, offsetting July's decline. Statistics Canada reports the bulk of the increase came from higher sales at gasoline stations and new car dealers, without which sales were flat. BC-StatsCan-Retail. Moved (B) Business and (G) General. OTTAWA _ Shaw Communications Inc. (TSX:SJR.B) has received CRTC approval to make its first foray outside Western Canada, with the purchase of Mountain Cablevision in Hamilton. BC-Shaw-Mountain-Cable, 1st Writethru. Moved. TORONTO _ The Toronto stock market closed higher Thursday, led by gains in consumer discretionary and bank stocks. By Malcolm Morrison. BC-Dollar-Markets, 6th Writethru. Moved. TORONTO _ A syndicate of underwriters will pay about $250 million for nearly 17.55 million shares of Detour Gold Corp. (TSX:DGC), which will use proceeds to advance its Detour gold project in northern Ontario. BC-Detour-Gold. TORONTO _ When it comes to how well Canadians are handling their cash these days, the consensus isn't all that clear. An Ipsos Reid poll done for RBC Financial suggests many Canadians are letting their saving habits slide. BC-Spending-Polls. Moved General and Business (B) TORONTO _ Canwest Global Communications receives approval from CRTC to expand its descriptive video programming commitments to include both variety, and general entertainment and human interest programming. BC-Canwest. GUELPH, Ont. _ Electronics company Hammond Manufacturing Co. Ltd. (TSX:HMM.A) swung to a loss in the third quarter as the Canadian dollar strengthened and as it lost $124,000 from operations. BC-Hammond-Manufacturing, 1st Writethru. Moved. WINNIPEG _ Cangene Corp. (TSX:CNJ) has booked its highest ever annual net income, helped by a dramatic increase in deliveries on U.S. government contracts, the biopharmaceutical company said Thursday. BC-Cangene, 3rd Writethru Moved. WINNIPEG _ Lanesborough Real Estate Investment Trust (TSX:LRT.UN) says it has struck a deal to sell apartment properties in Saskatchewan and Alberta for $27.1 million. BC-Lanesborough, 1st Writethru. Moved. CALGARY _ Viterra Inc. (TSX:VT) says its president and chief executive Mayo Schmidt has been named CEO of the year by Canadian Business Magazine. BC-Viterra-CEO, 1st Writethru. Moved CALGARY _ Canexus Income Fund (TSX:CUS.UN) reported net income of $38.4 million for the third quarter ended Sept. 30. That compared to net income of $4.8 million for the same quarter last year. Sales were $114.9 million compared to $130.4 million in the same period last year. BC-Canexus. Moved EDMONTON _ Athabasca Minerals Inc. (TSXV:ABM) recovered from a year-earlier loss in the third quarter, reporting a modest profit and higher revenues. Athabasca reported Thursday that its net profit was $763,000 or three cents a share for the quarter ending Aug. 31, up from a loss of $283,481 or one cent a share in 2008. BC-Athabasca-Minerals, 1st Writethru. Moved. VANCOUVER _ TimberWest Forest Corp. (TSX:TWF.UN) trimmed its third quarter losses compared to last year as log sales dipped but real estate revenues rose. The Vancouver-based forest company reported a net loss of $26 million or 33 cents per unit for the quarter ended Sept. 30, compared to a loss of $29.6 million of 38 cents per unit last year. 324 words. BC-Timberwest, 1st Writethru. VANCOUVER _ International Forest Products Ltd. (TSX: IFP.A) swung to a profit in the third quarter thanks to a gain on the sale of its Queensboro site, but sales slipped compared to last year. The Vancouver-based company, known as Interfor, reported net earnings of $9.7 million or 21 cents per share for the quarter ended Sept. 30. 194 words. BC-Interfor, 1st Writethru. VANCOUVER _ NovaGold Resources Inc. (TSX:NG) says a proposed Ontario class action lawsuit against the company and certain directors and officers has not yet been filed, and that it disputes all claims. The Vancouver-based mining company was responding Thursday to shareholder litigation announced last week against the company seeking more than $100 million in damages. 363 words. BC-NovaGold-Litigation, 1st Writethru. VANCOUVER _ Magma Energy Corp. (TSX:MXY) said it has successfully raised $21.5 million in a private placement, proceeds of which will be used to finance its purchase of an interest in the Icelandic geothermal company HS Orka. Vancouver-based Magma, headed by mining financier Ross Beaty, said it raised the funds by issuing 11.6 million shares at $1.85 per share. 180 words. BC-Magma-Energy, 1st Writethru. THE CANADIAN PRESS (c) 2009 The Canadian Press |