CA-CANADA Summary

Exxon oil spill cleanup ongoing in Arkansas, pipeline shut

MAYFLOWER, Ark./HOUSTON (Reuters) - Exxon Mobil Corp continued efforts on Monday to clean up thousands of barrels of heavy Canadian crude oil spilled from a near 65-year-old pipeline in Arkansas, as a debate raged about the safety of transporting rising volumes of the fuel into the United States. The Pegasus pipeline, which ruptured in a housing development near the town of Mayflower on Friday, spewing oil across lawns and down residential streets, remained shut and a company spokesman declined to speculate about when it would be fixed and restarted.

Hockey helps Canada's economy grow again in January

OTTAWA (Reuters) - Canada's economy bounced back from a year-end slump in January thanks to factories, mines and the return of professional ice hockey, but growth still looks too weak to match the central bank's upbeat outlook and interest rates are unlikely to budge until 2014. Gross domestic product expanded by 0.2 percent in the month, Statistics Canada said on Thursday, following the weakest two quarters since the 2008-09 recession and a 0.2 percent contraction in December.

Canadian Pacific oil spill cleanup to last two days

(Reuters) - Recovery efforts were underway on Thursday to clean up an oil spill in western Minnesota, a day after a mile-long Canadian Pacific Railway train derailed, rupturing three tankers and leaking around 15,000 gallons of fuel. The cleanup was expected to take another day or two, officials said, after 14 cars on a 94-car train heading for the Chicago area left the tracks on Wednesday about 150 miles northwest of Minneapolis near the town of Parkers Prairie.

Canada inflation jumps, rate change still seen far off

OTTAWA (Reuters) - Canada's annual inflation rate jumped more than expected in February, but analysts said the spike was unlikely to pressure the Bank of Canada to raise interest rates any time soon. The year-on-year rate rose to 1.2 percent from a three-year-low of 0.5 percent in January on higher gas and auto prices, Statistics Canada said on Wednesday.

Alberta wants securities regulation to stay with provinces

TORONTO (Reuters) - Alberta wants individual provinces to retain their authority over Canadian securities regulation, a position that makes federal attempts to create a single, national body more difficult, although Alberta is willing to make some adjustments in the current system. The province's finance minister, Doug Horner, said Alberta was happy to discuss greater cooperation with Ottawa, especially in the realm of systemic risk. But the energy-rich province, which is seen as a key player in creating the critical mass of support that would pave the way for a national regulator, is not about to dismantle its own financial watchdog.

Canada's Suncor says "negligible" impact from waste water spill

(Reuters) - The spillage of industrial waste water at Suncor Energy Inc's main oil sands project had a limited impact on the local river, Canada's No. 1 oil producer said. Waste water from Suncor's oil sands operation north of Fort McMurray, Alberta, escaped on Monday morning when a pipe broke after freezing.

Canadian regulator slashes tolls for TransCanada mainline

CALGARY, Alberta (Reuters) - Canada's National Energy Board on Thursday agreed to cut fixed tolls on TransCanada Corp's mainline, a cross-country natural gas pipeline network, which the regulator says will help keep the system competitive and profitable despite increasing supplies from U.S. shale gas producers. Canada's National Energy Board on Thursday agreed to cut fixed tolls on TransCanada Corp's mainline, a cross-country natural gas pipeline network, which the regulator says will help keep the system profitable amid increasing competition from U.S. shale gas supplies.

Canadian and U.S. natives vow to block oil pipelines

OTTAWA (Reuters) - An alliance of Canadian and U.S. aboriginal groups vowed on Wednesday to block three multibillion-dollar oil pipelines that are planned to transport oil from the Alberta tar sands, saying they are prepared to take physical action to stop them. The Canadian government, faced with falling revenues due to pipeline bottlenecks and a glut that has cut the price for Alberta oil, say the projects are a national priority and will help diversify exports away from the U.S. market.

Police confirm second Canadian linked to Algeria gas plant attack

TORONTO (Reuters) - Canadian police said on Saturday that they had identified a second Canadian among the dead suspects in a January attack and hostage-taking at an Algerian gas plant. Around 70 people died when Algerian troops stormed the Tigantourine desert gas plant near the town of In Amenas and ended the siege. Algerian Prime Minister Abdelmalek Sellal said at the time that a Canadian gunman had coordinated the operation.

Canada vows balanced budget in 2015 without "slash and burn"

OTTAWA (Reuters) - Canada's Conservative government pledged on Thursday to close tax loopholes and curb spending to erase its budget deficit in time for the 2015 election, even as it committed funds to infrastructure, manufacturing and job training. The projected deficit in the fiscal year ending March 31 is roughly in line with Ottawa's previous forecast in November, at C$25.9 billion ($25.4 billion). The deficit would be about 1.4 percent of the size of the economy, compared with about 5.6 percent for the U.S. deficit.

Source: http://news.yahoo.com/ca-canada-summary-155440020.html

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