Obama set to reject Keystone oil pipeline: sources
WASHINGTON (Reuters) ? The Obama administration was poised on Wednesday to reject the Keystone crude oil pipeline, according to sources, a decision that would be welcomed by environmental groups but inflame the domestic energy industry. The administration could make its announcement on TransCanada's Keystone XL pipeline late on Wednesday or on Thursday, a source familiar with the matter told Reuters. TransCanada Corp. shares slid more than 3 percent after the news.
TransCanada could reapply with new pipeline route: source
WASHINGTON (Reuters) - TransCanada could reapply to build its Keystone XL crude oil pipeline from Canada to Texas after the Obama administration's expected decision to reject the conduit, a source familiar with the matter said on Wednesday. "They can always reapply," said the source, who spoke on condition of anonymity. "It (the expected rejection) doesn't predetermine future applications. That is always the case. They could always submit a new application with a revised route."
Farmers tiptoe into newly opened Canada wheat market
WINNIPEG, Manitoba (Reuters) - As some of the world's biggest grain traders fan out across Canada's Prairies to compete openly for farmers' wheat and barley for the first time since World War II, they're finding more farmers like Paul Balicki than Stephen Vandervalk. Balicki, from Saskatchewan, says he's been unimpressed with early offers to buy the spring wheat he plans to grow this year, which he's been required to sell to the Canadian Wheat Board since 1943. Like many of the region's 100,000 farmers, most of whom have no memory of a free-market system, change comes hard.
Analysis: Nortel case delay highlights Canada crime approach
TORONTO (Reuters) - The years-long delay in bringing three former Nortel Networks executives to trial for fraud has reinforced Canada's well-earned reputation as a laggard in markets enforcement, particularly when compared with the United States, its critics say. Jurisdictional issues, lack of personnel and a national police task force that has not produced results all contribute to what lawyers and academics say is Canada's dysfunctional approach to prosecuting white-collar crime.
Bank of Canada holds rates, sees faster recovery
OTTAWA (Reuters) - The Bank of Canada held its key policy rate at 1 percent on Tuesday, but forecast a faster Canadian recovery than expected despite an increasingly worrying outlook for the global economy. Governor Mark Carney has held the central bank's rate unchanged for 16 months, the longest period without a rate change since the bank began targeting the overnight rate in 1994. A below-inflation 1 percent rate is providing considerable stimulus to the domestic economy, it says.
Government ready to intervene on housing, but not now: Flaherty
OTTAWA (Reuters) - The Canadian government is watching the housing market closely and is ready to intervene if necessary, but is not about to do so now, Finance Minister Jim Flaherty said on Tuesday, noting he saw indications of softening in the market. He was speaking to reporters after the Bank of Canada said that very favorable credit conditions were expected to buttress housing activity, and that Canada's ratio of household debt to income was expected to rise further.
Canada "has allies' confidence" despite spy case
OTTAWA (Reuters) - Canada still enjoys the confidence of its allies despite the arrest of a Canadian naval intelligence officer charged with handing over secrets to an unnamed country, Defence Minister Peter MacKay said on Tuesday. Jeffrey Paul Delisle faces a charges of giving "a foreign entity" secret information between July 6, 2007 and Jan 13, 2012. He was arrested in Halifax, Nova Scotia and will stay in jail until his next hearing on Jan 25.
Provinces bristle at federal health "deal"
VICTORIA, British Columbia (Reuters) - The provinces unanimously believe the federal government's unilateral decision to impose a new formula for how it will help fund the public healthcare system "was both unprecedented and unacceptable," British Columbia Premier Christy Clark said Monday. Clark made the remarks after chairing a meeting of the provincial premiers, where the main topic was Finance Minister Jim Flaherty's announcement last month of how much federal health spending would go up for the next decade and beyond.
Reprise for Nortel debacle as Toronto trial opens
TORONTO (Reuters) - Three former executives at bankrupt Nortel Networks reached into the "cookie jar" a decade ago to enrich themselves, prosecutors said, opening a fraud trial that dredged up memories of one of the most spectacular casualties of the 1990's dot-com bubble. The trio - former Chief Executive Frank Dunn, former Chief Financial Officer Douglas Beatty and former Controller Michael Gollogly - misrepresented Nortel's financial results between 2000 and 2004 in a plan that brought them bonus payments while defrauding investors, prosecutor Robert Hubbard said on Monday.
Iran threat should prompt Keystone rethink: Harper
OTTAWA (Reuters) - Iran's threat to block the main oil shipping route out of the Gulf points to why the United States should approve the Keystone XL pipeline from Canada to Texas, Canadian Prime Minister Stephen Harper said on Monday. "I think it's pretty obvious what the right decision is ... not just from an economic and environmental standpoint, but from an energy security standpoint," Harper told CBC television.
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