CA-BUSINESS Summary

TSX hits near one-month high as data buoys resources

TORONTO (Reuters) - Canada's main stock index hit a near one-month high on Wednesday as positive data out of China and Germany lifted hopes for a strong global economic recovery and boosted commodities shares. China's exports and imports grew more than expected in April, offering the possibility of a better outlook for the world's second-largest economy, while German industrial output unexpectedly jumped in March.

Canada housing starts slip in April, latest sign of cooling

TORONTO (Reuters) - Canadian housing starts slipped in April from March, led in part by a pullback in Ontario condo-building, Canada Mortgage and Housing Corp said on Wednesday, in the latest report to indicate the country's once hot housing market is cooling. The seasonally adjusted annualized rate of housing starts was 174,858 units in April, down from 181,146 in March. The March figure was revised down from the 184,028 units reported a month earlier.

Canada says it may take EU to WTO over oil sands dispute

BRUSSELS (Reuters) - Canada threatened on Wednesday to take the European Union to the World Trade Organization over its plans to label Canadian oil sands as dirty, but promised not to delay a bilateral trade pact. The issue has overshadowed relations as Canada and the EU try to deepen economic ties through a trade deal that could generate $28 billion a year in new business and commerce.

Chesapeake wins bond dispute with Bank of NY Mellon

(Reuters) - Chesapeake Energy Corp won the right to redeem $1.3 billion of notes early, as a federal judge rejected an argument by the notes' trustee, Bank of New York Mellon Corp , that the company waited too long to tell investors of its plans. Chesapeake, the No. 2 U.S. natural gas company, said it intends to refinance the notes, and that Wednesday's decision by U.S. District Judge Paul Engelmayer in Manhattan will save it more than $100 million in interest payments.

C$ seen weakening as domestic economy struggles: Reuters poll

TORONTO (Reuters) - The Canadian dollar is expected to weaken against the greenback in the year ahead, a Reuters poll showed on Wednesday, with some forecasters citing concern about the economy's slow rate of growth compared to that of the United States. The median forecast in the poll of 51 economists and foreign exchange strategists saw the Canadian dollar trading at C$1.01 to the U.S. dollar in one and six months from now.

Intact Financial shares slide as results miss estimates

TORONTO (Reuters) - Intact Financial Corp said on Wednesday its first-quarter profit was essentially unchanged from the year-before period, missing expectations, as a rise in winter-related insurance claims offset stronger premiums. Shares of Canada's largest property and casualty insurer hit a 14-month low following the release of its results. By mid-morning the stock was down 2 percent at C$58.99, the weakest performance among Toronto-listed financial companies.

Enbridge concedes pipeline expansion plans may face opposition

(Reuters) - Enbridge Inc , Canada's largest pipeline company, said on Wednesday it is still hoping for speedy regulatory approval for a planned expansion of an oil pipeline to the United States despite the prolonged delays faced by the rival Keystone XL line. The company, which said its first-quarter operating profit rose nearly a third, is seeking an amended presidential permit for its plan to double the size of its 400,000 barrel per day Alberta Clipper pipeline, which takes oil sands crude from Alberta to Superior, Wisconsin.

Delta to restart dividend, launch share buyback program

(Reuters) - Delta Air Lines Inc plans to return $1 billion to shareholders over the next three years, starting with its first dividend in a decade and a $500 million share buyback program, the company said on Wednesday. The initiatives are part of a five-year plan that seeks to generate as much as $5 billion in value for investors, the carrier said in a statement.

Paint job but no 'rollout' party for newest Airbus jet

LONDON (Reuters) - Airbus has started painting the A350, a sign it is approaching a maiden flight, but has bowed to the industry's increasingly pragmatic mood by deciding against a traditional "rollout" for its newest jet. Eight years after European leaders witnessed a spectacle worthy of stadium opera to launch the A380 superjumbo, Europe's latest aeronautical venture will prepare to leave the nest with less fanfare in an industry sobered by delays and technical mishaps.

U.S. regulators close inquiries into Ford, Chrysler vehicles

DETROIT (Reuters) - U.S. auto safety regulators closed two separate probes into vehicles made by Ford Motor Co and Chrysler Group LLC after the two U.S. automakers conducted safety recalls this year to fix glitches in some models. The U.S. National Highway Traffic Safety Administration closed both investigations in early May, according to documents filed on the agency's website late on Tuesday.

Source: http://news.yahoo.com/ca-business-summary-000836369.html

Sam Champion Hulk Hogan sex tape orioles Sarah Jones chicago marathon Johnny Depp Dead college football rankings