Maple launches formal $3.8 billion hostile bid for TMX
TORONTO (Reuters) ? A Canadian consortium of banks and pension funds has taken its $3.8 billion (C$3.7 billion) takeover offer directly to TMX Group shareholders, touting the proposal as the best way to keep the country's exchanges out of foreign hands. Maple Group Acquisition Corp launched the hostile bid on Monday through a takeover circular that outlines an alternative to London Stock Exchange Group's friendly $3.5 billion bid for TMX, the operator of the Toronto Stock Exchange.
Government set to speed up criminal "mega-trials"
OTTAWA (Reuters) - The government proposed legislation on Monday to speed up complex criminal trials involving large numbers of accused, aiming to reduce mistrials in cases related to organized crime and terrorism. The governing Conservatives reintroduced legislation that they say will reduce excessive delays in so-called mega-trials, which often get bogged down in lengthy investigations, numerous witnesses and repetitive proceedings against several people.
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.
CP Rail stresses long-term view after weather woes
VANCOUVER (Reuters) - Canadian Pacific Railway will have to work to earn back customer confidence lost because of recent weather woes, but it expects any drop in market share is temporary, its chief executive said on Monday. Flooding and other weather disruptions on CP's network in Western Canada and the U.S. Midwest have hit earnings so far this year, but the carrier told analysts in New York that shipping volumes are recovering.
Manitoba to fight changes to Canadian Wheat Board
WINNIPEG, Manitoba (Reuters) - The province of Manitoba will lead an advertising 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. The government plans to introduce legislation this autumn to end the Wheat Board's marketing monopoly on wheat, durum and barley by August 2012.
Talisman looks for more acres in Texas shale field
CALGARY, Alberta (Reuters) - Talisman Energy Inc says it may buy more land in the oil-rich Eagle Ford shale field in Texas, but only if the price is right. John Manzoni, the company's chief executive, told reporters on Monday that Talisman, Canada's No. 4 independent oil producer, would look for an incremental expansion of its holdings in the Eagle Ford play in south Texas and stay clear of the big-ticket deals done recently.
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.
Wetness to push Manitoba unplanted acres to record
WINNIPEG, Manitoba (Reuters) - Unplanted crop acres in the western Canadian province of Manitoba will likely reach a record high this year due to excessive wetness, a provincial government official told Reuters on Monday. The province is working to calculate an estimate, and it appears Manitoba will exceed the record of nearly 1.4 million unplanted acres set in 2005, said David Koroscil, manager of insurance projects and sales for the Manitoba Agricultural Services Corp.
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.
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