Maple Group goes hostile for TMX
TORONTO (Reuters) – The banks and pension funds with a C$3.7 billion hostile offer for the Toronto Stock Exchange touted their offer directly to shareholders on Monday, denying that it would curb competition and urging shareholders to vote for the made-in-Canada solution. In its formal proposal for the stock market's parent, TMX Group, Maple Group said it was offering C$48 a share in cash for 70 percent of TMX shares, compared with 60 percent in the original proposal nearly a month ago.
Air Canada customer agents serve strike notice
VANCOUVER (Reuters) - The union representing customer service and ticket sales agents at Air Canada Inc on Friday gave the airline 72 hours notice of a strike after negotiators failed to agree on a new labor contract. The Canadian Auto Workers (CAW) union, which represents 3,800 employees at airports and call centers across Canada, said its members will walk off the job at 11:59 pm EDT on Monday unless an agreement can be reached before then.
Manitoba to fight changes to Canadian Wheat Board
WINNIPEG, Manitoba (Reuters) - The province of Manitoba will lead a campaign to stop the federal government from stripping the Canadian Wheat Board of its monopoly on the Western Canadian grain trade, the provincial government said on Monday. Canada's Conservative government plans to introduce legislation this autumn to end the Wheat Board's marketing monopoly on wheat, durum and barley by August 2012.
RIM investor seeks change; PlayBook going global
TORONTO (Reuters) - An investor in Research In Motion wants a shareholder vote on whether the company's two leaders can retain shared roles as chairmen of the board and chief executives, in the latest headwind to hit the BlackBerry maker ahead of next week's results. The call to limit the roles held by co-founder Mike Lazaridis and Jim Balsillie adds to RIM's woes as it struggles to present itself as a legitimate third option in a smartphone race increasingly dominated by tech giants Apple and Google.
Button wins rain-delayed Canadian thriller
MONTREAL (Reuters) - Jenson Button celebrated his greatest victory on Sunday after overtaking Red Bull's Formula One world champion Sebastian Vettel on the last lap of a rain-delayed Canadian Grand Prix thriller. Vettel, who skidded wide under relentless pressure just a few corners from the finish, recovered from his error to take second place ahead of Australian team mate Mark Webber.
Canada Post strike highlights mail's fading role
VANCOUVER (Reuters) - A rolling postal strike, followed by deep service cuts, has highlighted the fading role of Canada's mail service in the age of the Internet, with neither side likely to end up ahead. On one side of the dispute are postal workers who are looking for higher wages and more job security -- saying the company is ignoring their ideas to modernize as consumers increasingly pay bills online and use e-mail for letters.
Jobless rate falls, diverges from U.S. path
OTTAWA (Reuters) - The unemployment rate in Canada fell to the lowest level since January 2009 in May as the number of jobs increased by 22,300, an island of healthy data in a sea of recent figures showing tepid North American economic growth. Statistics Canada reported on Friday that the jobless rate dropped from 7.6 percent in April to 7.4 percent in May, a number last seen when Canada was falling into recession at the start of 2009.
GM recalls 50,500 Cadillac SRXs in North America
DETROIT (Reuters) - General Motors Co is recalling 50,500 Cadillac SRX luxury crossover vehicles because the performance of the front passenger airbag differs from the owner's manual. The recall, announced by GM on Friday, affects 47,401 vehicles in the United States and the rest in Canada and Mexico from the 2011 model year. The U.S. automaker said it knew of no crashes, injuries or complaints related to the issue.
Accident kills 2 at Vale's Sudbury mine
TORONTO (Reuters) - Two workers died after they were hit by waste debris being removed from Brazilian miner Vale's Stobie underground copper-nickel mine in Sudbury, Ontario, officials said on Thursday. The employees were working in a shaft about 1,000 metres below the surface on Wednesday evening when the accident occurred, and were dead when rescuers reached the scene, the company said.
Watchdog raps Canada for hiding G8 spending plans
OTTAWA (Reuters) - Canada's government misled legislators about funding an international summit in 2010, pumping millions of dollars into the electoral district of the cabinet minister now responsible for spending cuts, the federal auditor said on Thursday. In the latest in a series of often damning reports about spending practices of successive governments, the auditor general's office took aim at the ruling Conservatives over their handling of the Group of Eight summit in Huntsville, Ontario.
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