TORONTO, Feb. 22, 2012 /PRNewswire via COMTEX/ –
As the airline industry continues to face the headwinds of rising fuel prices, challenging competition and an uncertain economy, Air Canada is redoubling its use of integrated data warehousing as a means to compete effectively. Canada’s largest airline has purchased a new Teradata Data Warehouse Appliance that runs the powerful and agile Teradata Database and renewed its Teradata managed services agreement. With the new system in place, Air Canada will be able to decommission legacy independent data marts currently used to support revenue and operational management and migrate these applications to the Teradata integrated data platform.

The decision to make the upgrade and move towards a more fully integrated data environment was based on Air Canada’s experience with its current Teradata Data Warehouse Appliance and with Teradata Professional Services in the day-to-day management of the integrated data warehouse.

“The combination of the performance and stability of the platform and the quality of Teradata’s professional services, gave us the confidence that Teradata is our best choice to continue our data mart consolidation and migrate more of our strategic data over to the new Data Warehouse Appliance,” said Marc Constantineau, manager, Data Management Center, Air Canada.

The new platform is a continuation of the airline’s strategic approach to move from independent data marts to an enterprise data warehouse (EDW). Information quality, speed of delivery and reduced costs were essential to Air Canada’s decision, said Constantineau. As the company evolves its analytics platform to an EDW, it will add more data sources to its existing revenue and yield management data, such as incorporating ticket data and operational flight information. Air Canada is leveraging the Teradata Travel Industry Logical Data Model as a framework to guide the integration of information, thus reducing development time and costs.

“Air Canada has an exciting vision for its business, and that in turn fuels its dependence on expanded analytics. What started as an initiative for a single business department user has grown to encompass multiple business functions now and represents a strategic collaboration with IT. Teradata has proven that the business can have improved analytics, while IT has reduced costs, and both can have confidence in scalability of their data warehouse to add more data and new applications in the years ahead,” said Industry Marketing and Solutions leader for the travel industry at Teradata, Peeter Kivestu.

About Teradata

Teradata Corporation


/quotes/zigman/480716/quotes/nls/tdc TDC
+1.13%



is the world’s leading analytic data solutions company, focused on integrated data warehousing, big data analytics, and business applications. Teradata’s innovative products and services deliver data integration and business insight to empower organizations to make the best decisions possible and achieve competitive advantage. Visit teradata.com for details.

Get to know Teradata:Twitter:
https://twitter.com/teradatanews Facebook:
http://www.facebook.com/Teradata YouTube:
http://www.youtube.com/user/teradata LinkedIn:

http://www.linkedin.com/company/teradata/products

Teradata is a trademark or registered trademark of Teradata Corporation in the United States and other countries.

SOURCE Teradata Corporation

Copyright (C) 2012 PR Newswire. All rights reserved

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Add TDC to portfolio

TDC

Article source: http://www.marketwatch.com/story/air-canada-will-again-extend-its-business-insights-with-teradata-2012-02-22

Wed Feb 22, 2012 8:33am EST

Feb 22 (Reuters) – Toronto’s main stock index was set
for a slightly lower open on Wednesday, tracking global markets,
as weak economic data from Europe and China stoked fears about
global growth.

FACTORS TO WATCH

* Canadian equity futures pointed to a slightly
lower open.

* U.S. stock index futures slipped, indicating the SP 500
may snap a three-day winning streak after weaker-than-expected
euro zone data and ahead of a report on the U.S. housing market.

* European share prices slipped further from their recent
seven-month high as downbeat economic data from the euro zone
fuelled worries about recession, and concern continued about
Greece even after it secured a bailout.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global
commodities benchmark, fell 0.22 percent in early trade.

* Oil eased slightly from a nine-month high as weak economic
data in Europe and China cast doubt on the outlook for global
growth and prospects for fuel demand.

* Gold prices retreated from an earlier two-week high in
Europe as persistent concerns over Europe’s finances hurt the
euro and weighed on stock markets, while supply upsets in major
producer South Africa lifted platinum to a five-month high.

* Copper prices fell, reversing the previous session’s sharp
gains, with confidence rattled by weak export data from top
consumer China and doubt over Greece’s ability to implement
tough reforms aimed at cutting its debt.

CANADIAN STOCKS TO WATCH

* Rogers Communications : The wireless
telecommunication company posted a 2.8 percent rise in its
fourth-quarter operating profit, driven by growth in both its
cable and wireless businesses.

* Sears Canada Inc. : The retailer posted a lower
fourth-quarter profit as sales at its established stores fell.

* Chorus Aviation’s : The company’s bigger and more
diversified fleet will help it defend its turf against WestJet
Airline’s planned regional airline in Canada, Chorus’s
CEO said on Tuesday.

* Connacher Oil and Gas Ltd. : The company brought
back Peter Sametz as interim CEO, just weeks after he was fired
as chief operating officer by the former CEO.

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian
companies reported by Reuters.

* Anderson Energy : National Bank Financial cuts to
underperform from sector perform

* Chorus Aviation : TD Securities cuts to buy from
action list buy

* Fortis Inc : CIBC raises price target to C$35.50
from C$35

* Gran Tierra Energy Inc : CIBC cuts price target to
C$6.90 from C$7

* Interfor : RBC raises price target to C$6 from
C$5.50, rating outperform

* Novadaq Technologies : TD Securities raises price
target to C$5.50 from C$4

* Orvana Minerals : Stonecap cuts price target to
C$2.25 from C$2.40

* Quadra FNX Mining Ltd : CIBC cuts to sector
underperformer from sector performer

Article source: http://www.reuters.com/article/2012/02/22/markets-canada-stocks-idUSL4E8DM6L520120222

Shoppers walk past the main Sears store in downtown Vancouver, British Columbia in this Feb. 23, 2011, photo.

ANDY CLARK/REUTERS

Sales at one of Canada’s largest department store chains continued to slide over the key holiday sales period while profits shrank.

Sears Canada, which cut both staff and prices after the quarter, said sales fell 6.4 per cent during the three months ended Jan. 28 compared to the year earlier period.

Sales at stores open more than a year, considered a key retail measure, were down 7.4 per cent.

Profit fell by more than half to $38.7 million, or 36 cents a share, from $82.7 million, or 77 cents the previous year.

For the year, sales were down 6.5 per cent to $4.6 billion, while the company reported a net loss of $60.1 million, or 58 cents a share, compared to profit of $115.2 million or $1.07 per share a year earlier.

“While we are disappointed with our performance for 2011, including the fourth quarter, we believe we have begun to stabilize the business and create a foundation for returning the business to historical performance levels,” said Calvin McDonald, Sears president and chief executive officer.

McDonald, who joined Sears last August, noted the retailer ended the year with higher cash flow and a cleaner inventory position because of its actions to reduce unproductive inventory.

McDonald said the company plans to take steps to improve its performance.

Sears recently cut 400 jobs, mainly at head office and in food service, and also lowered prices on 5,000 items in its stores by as much as 30 per cent.

Article source: http://www.thestar.com/business/article/1134891--sears-canada-sales-profits-plunge-during-holiday-season?bn=1

TORONTO, ONTARIO–(Marketwire -02/21/12)- The winners of this year’s Canada’s Best Diversity Employers competition, sponsored by BMO Financial Group, were announced today, recognizing 50 organizations that lead the nation in creating diverse and inclusive workplaces.

Each year, the editorial team at Canada’s Top 100 Employers reviews the top employer pool to identify the leading organizations that have developed a wide range of initiatives, including programs for: women, visible minorities, persons with disabilities, aboriginal peoples, and lesbian, gay, bisexual and transgender (LGBT) peoples.

“We are seeing a significant expansion in the range of inclusiveness initiatives that leading employers offer,” says Richard Yerema, Managing Editor of the Canada’s Top 100 Employers project at Mediacorp Canada Inc., which oversees the selection process. “Employers with well-established diversity programs are moving beyond the groups that traditionally have been covered.”

“As a founding partner of the competition, it’s our hope that we can encourage all Canadian organizations to be Diversity Champions,” said Lynn Roger, Senior Vice President, Talent Strategies and Executive Resourcing at BMO Financial Group. “It’s encouraging to see that employers are working harder to see Canadians’ talents instead of their differences, and accept their credentials instead of hiding behind preconceptions. In the end, all of us in our business community must work to ensure that all Canadians get the opportunity to prove themselves. Only through their participation and success will the barriers fall away.

“Through our own deep experience we know that diversity and inclusion is a ‘must have’ that leads to stronger corporate performance, more successful and engaged employees, and the delivery of relevant products, services and advice to our customers. BMO has been developing innovative diversity programs since 1989. Our Pre-Employment Training program for people with disabilities and the Ron Jamieson Aboriginal Scholarship and Internship program are just two very successful examples of how we reach out to groups that are under-represented in Canada’s workforce. Finding new and innovative ways to help integrate Canadians and their skills into our operations is just the way we do things – it’s how we help all of our employees reach their full potential,” added Ms. Roger.

“The diversity conversation is changing,” says Trevor Wilson, President of TWI Inc., the consulting firm that pioneered a diversity measurement methodology called The Equity Continuum and a founding partner of the competition. “Employers are realizing that inclusiveness starts with the individual, and extends beyond designated groups – real diversity initiatives aim to optimize the human capital each of us brings to an organization, based on our own unique backgrounds, abilities and life experiences.”

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $501 billion as at October 31, 2011 under IFRS, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

BMO Financial Group funds the costs of managing the competition and, as a sponsor, is not considered for the award. BMO and TWI did not take part in the selection of winners. Mediacorp editors do this on the basis of the applications reviewed.

The editors’ full reasons for why each of the 2012 winners was selected can be found at: http://CanadasTop100.com/diversity.

In alphabetical order:

 

Agrium Inc.                             Newalta CorporationAmex Canada Inc.                        Northwestel Inc.BC Hydro                                Ontario Public ServiceBoeing Canada Operations Limited        Ottawa, City ofBombardier Aerospace                    Public Works and Government Services                                        CanadaBusiness Development Bank of Canada     Saskatchewan Government InsuranceCameco Corporation                      Saskatoon, City ofCanadian Imperial Bank of Commerce      SaskPowerCapital District Health Authority       SaskTelCentre for Addiction and Mental Health  Seneca College of Applied Arts                                         TechnologyCorus Entertainment Inc.                Shell Canada LimitedDeloitte  Touche LLP                   Stantec Consulting Ltd.Ernst  Young LLP                       Statistics CanadaFraser Milner Casgrain LLP              Stikeman Elliott LLPHealth Canada-Sante Canada              TD Bank GroupHewlett-Packard Canada Co.              Telus CorporationHome Depot Canada, The                  TransCanada CorporationHuman Resources  Skills Develop.       University of British ColumbiaCanadaInformation Services Corporation / ISC  University of TorontoJazz Aviation LP                        University of VictoriaKPMG LLP                                Vancouver, City ofLoblaw Companies Limited                Workers' Compensation Board of                                        ManitobaManitoba Hydro                          Xerox Canada Inc.Manitoba, Government of                 YMCA of Greater TorontoMount Sinai HospitalNational Bank Financial Group

For Media Inquiries:
Canada’s Top 100 Employers
Tony Meehan, Publisher
(416) 964-6069 x9179
BMO Financial Group
Ralph Marranca, Director, Media Public Relations
(416) 867-3996
TWI Inc.
Trevor Wilson, President
(416) 368-1968 x400

Article source: http://finance.yahoo.com/news/winners-canadas-best-diversity-employers-140000749.html

AMMAN (Reuters) – Syrian President Bashar al-Assad’s forces, trying to hammer the city of Homs into submission, on Wednesday killed 19 more people including two Western journalists in an onslaught that has caused an international outcry for intervention to end the bloodshed. Hundreds of people have been killed in daily …

Article source: http://news.yahoo.com/sears-canada-profit-falls-lower-sales-140717916.html

By Allison Jones, The Canadian Press

TORONTO – A well-known outerwear manufacturer billing itself as a “Canadian success story” is suing a retailer over trademark infringement, accusing it of making shoddy replicas of the distinctive Canada Goose parkas.

International Clothiers Inc. has intentionally designed a logo and positioned it on jackets to mimic the Canada Goose Arctic Program design trademark, it’s alleged in the lawsuit.

Canada Goose Inc. filed a statement of claim late last month asking the Federal Court to stop International Clothiers from using its Canada Weather Gear and Super Triple Goose logos, “or any confusingly similar mark.”

That circular logo is what distinguishes a Canada Goose jacket from others, the company says.

“Canada Goose prides itself on, and has become known for, designing and manufacturing its clothing products in Canada, and ensuring that they are of the highest quality,” it writes in the statement of claim.

International Clothiers has been selling such coats since December 2009 with not only a similar logo to Canada Goose and positioned on the same upper-right portion of the sleeve, but several other features such as the look of the pockets, Canada Goose alleges.

“All of which make it highly reminiscent of a Canada Goose jackets, but of inferior quality,” the company writes in its lawsuit.

While Canada Goose is a “Canadian success story,” it says, International Clothiers “is a manufacturer and retailer of low to mid-quality clothing products,” most of which aren’t made in Canada, the outerwear company alleges.

The allegations have not been proven in court. A statement of defence has not yet been filed, but International Clothiers could not be reached for comment.

Canada Goose isn’t yet claiming a specific amount in damages, as it writes in the lawsuit that so far only International Clothiers knows how much money has been made from the alleged infringement.

Canada Goose itself has sold more than $225 million in coats and accessories — more than 600,000 items — across Canada since 2005, it writes in the court documents. The products are sold in more than 200 retail outlets across the country. It also revealed it has spent $2 million since 2005 marketing Canada Goose products in North America.

International Clothiers has been aware that Canada Goose objects to its Super Triple Goose jacket, but hasn’t stopped any of its “deceptive trade practices,” Canada Goose alleges.

The company has also sometimes published print ads promoting its jackets as Canada Goose products, but has done nothing more than apologize and doesn’t dissuade customers from thinking they are buying Canada Goose coats, it’s alleged in the lawsuit.

In addition, Canada Goose alleges that International Clothiers’ Super Triple Goose jacket is in itself a misnomer. An independent laboratory analyzed the filling and found that goose feathers and down constitute about one per cent of the material, the bulk of which was actually duck feathers and down.

The lawsuit was filed on International Clothiers on Jan. 31 and they have 30 days to file a statement of defence.

International Clothiers is owned by Fairweather Ltd., which recently reached a deal with American chain Target Corp. to stop using the Target name.

Target (NYSE:TGT – News) had filed a trademark infringement claim against Toronto-based Fairweather, which also operates a group of clothing outlets in Canada under the name Target Apparel.

Target, known for offering designer fashion collaborations at discount chain prices, plans to open its first Canadian stores in 2013. Fairweather also owns department stores Les Ailes De La Mode in Quebec.

Article source: http://ca.finance.yahoo.com/news/canada-goose-sues-international-clothiers-090009558.html

The papers emerged after a freedom of information request to see EU documents related to tar sands – also known as oil sands – was lodged by Transport and Environment, an environmental organisation. 

But the documents were only released in heavily censored form by the EU Ombudsman P. Nikiforos Diamandouros because full disclosure “would seriously affect the current trade negotiations and Canada’s relations with the EU,” Diamandouros said in a statement.

Negotiations between Ottawa and Brussels on an EU-Canada Comprehensive Economic and Trade Agreement worth as much as $20 billion have been ongoing since 2009.

The Trade Commissioner Karel de Gucht has described them as the EU’s “most ambitious [free trade negotiations] so far.”

But one EU ‘steering brief’ about a June 2010 meeting between the Climate Action Commissioner Connie Hedegaard and Isabelle Muller, secretary-general of the oil refining association Europia, revealed how the two issues had become intertwined.

“Canada has been lobbying the Commission and Member States intensively to avoid a separate default value for fuel derived from tar sands,” the document says. “It has raised the issue in the context of EU-Canada negotiations on a Free Trade Agreement.”

Deleted paragraphs

Key deleted paragraphs in other documents “reveal the tensions that the commission’s proposals regarding oil sands have generated among the Canadian authorities and make reference to the measures those authorities are envisaging to adopt, in case their interests are negatively affected by the outcome of the oil sands issue,” Diamandouros said.

Nusa Urbancic, of Transport and Environment, described such revelations as “the tip of the iceberg”. 

Another document released in the batch, dated 5 July 2010, sourced to an EU Commissioner and titled ‘Agenda point: Fuel Quality Directive Article 7a methodology – Canadian oil sands’, outlines EU strategies for dealing with a Canadian case brought to the World Trade Organisation (WTO).

DG Trade, the EU’s trade directorate, “does not believe that the WTO would find in Canada’s favour,” the document says, but only if the commission could:

• Demonstrate that the proposed [greenhouse gas emissions] value [for tar sands] is based on solid technical and scientific ground;
• Show that other sources of high greenhouse gas crude oils (for example, Estonian oil shale) are similarly treated;
• Show that there was clear environmental logic for any groupings of sources of crude oils;
• Undertake to update and add to the default values.

These conditions were met in the EU’s directive but environmentalists claim that DG Trade’s positioning later changed, under pressure from Ottawa over the Free Trade agreement.

“We know that Canada has been very active towards DG Trade,” the Dutch Green MEP Bas Eickhout told EurActiv. “They suddenly became very active on the issue and it was clear that they were being pushed by Canada.”

Fuel quality vote

News of the Canadian trade threats comes as experts in the EU’s fuel quality committee prepare to vote on a Fuel Quality Directive on 23 February. The directive would assign fuel from tar sands a higher greenhouse gas ranking than crude oil, reflecting the greater damage that scientists say its production causes the environment.

“Being addicted to oil is bad enough, but as easy-to-find oil starts to run out, this legislation prevents us getting addicted to ever dirtier forms of oil,” Urbancic said.

“To throw this important and smartly designed law in the bin for the sake of a trade agreement with one country would be incredibly irresponsible. Member states can not let that happen,” she said.

Observers currently expect deadlock in the fuel quality committee vote, which would push the issue back to EU ministers in the European Council.

Diplomatic démarche

An intense Canadian diplomatic démarche has apparently not been repelled by powerful member states with domestic and international oil interests, such as Britain, the Netherlands, Poland and France. 

EurActiv has seen several letters sent to European ministers this winter explaining Ottawa’s case – that the EU legislation unfairly singles out tar sands in comparison to other crude oils on which, it says, there has not been as much disclosure about their lifecycle greenhouse gas emissions.

Canada’s natural resources minister, Joe Oliver, sent a missive to EU Energy Commissioner Günther Oettinger warning that the directive was “discriminatory and potentially violates the European Union’s international trade obligations.”

But the lobbying has not all been one way. On 16 February, eight Nobel peace laureates, including Archbishop Desmond Tutu, sent a letter urging the EU to “do the right thing” and “keep highly polluting tar sands oil out of Europe.” 

A Canadian government representative did not respond to requests for comment.

Article source: http://www.euractiv.com/climate-environment/canada-threatens-eu-tar-sands-news-510951

TORONTO, ONTARIO — The winners of this year’s Canada’s Best Diversity Employers competition, sponsored by BMO Financial Group, were announced today, recognizing 50 organizations that lead the nation in creating diverse and inclusive workplaces.

Each year, the editorial team at Canada’s Top 100 Employers reviews the top employer pool to identify the leading organizations that have developed a wide range of initiatives, including programs for: women, visible minorities, persons with disabilities, aboriginal peoples, and lesbian, gay, bisexual and transgender (LGBT) peoples.

“We are seeing a significant expansion in the range of inclusiveness initiatives that leading employers offer,” says Richard Yerema, Managing Editor of the Canada’s Top 100 Employers project at Mediacorp Canada Inc., which oversees the selection process. “Employers with well-established diversity programs are moving beyond the groups that traditionally have been covered.”

“As a founding partner of the competition, it’s our hope that we can encourage all Canadian organizations to be Diversity Champions,” said Lynn Roger, Senior Vice President, Talent Strategies and Executive Resourcing at BMO Financial Group. “It’s encouraging to see that employers are working harder to see Canadians’ talents instead of their differences, and accept their credentials instead of hiding behind preconceptions. In the end, all of us in our business community must work to ensure that all Canadians get the opportunity to prove themselves. Only through their participation and success will the barriers fall away.

“Through our own deep experience we know that diversity and inclusion is a ‘must have’ that leads to stronger corporate performance, more successful and engaged employees, and the delivery of relevant products, services and advice to our customers. BMO has been developing innovative diversity programs since 1989. Our Pre-Employment Training program for people with disabilities and the Ron Jamieson Aboriginal Scholarship and Internship program are just two very successful examples of how we reach out to groups that are under-represented in Canada’s workforce. Finding new and innovative ways to help integrate Canadians and their skills into our operations is just the way we do things – it’s how we help all of our employees reach their full potential,” added Ms. Roger.

“The diversity conversation is changing,” says Trevor Wilson, President of TWI Inc., the consulting firm that pioneered a diversity measurement methodology called The Equity Continuum and a founding partner of the competition. “Employers are realizing that inclusiveness starts with the individual, and extends beyond designated groups – real diversity initiatives aim to optimize the human capital each of us brings to an organization, based on our own unique backgrounds, abilities and life experiences.”

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $501 billion as at October 31, 2011 under IFRS, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

BMO Financial Group funds the costs of managing the competition and, as a sponsor, is not considered for the award. BMO and TWI did not take part in the selection of winners. Mediacorp editors do this on the basis of the applications reviewed.

The editors’ full reasons for why each of the 2012 winners was selected can be found at: http://CanadasTop100.com/diversity.

In alphabetical order:

Agrium Inc.                             Newalta Corporation
Amex Canada Inc.                        Northwestel Inc.
BC Hydro                                Ontario Public Service
Boeing Canada Operations Limited        Ottawa, City of
Bombardier Aerospace                    Public Works and Government Services
                                        Canada
Business Development Bank of Canada     Saskatchewan Government Insurance
Cameco Corporation                      Saskatoon, City of
Canadian Imperial Bank of Commerce      SaskPower
Capital District Health Authority       SaskTel
Centre for Addiction and Mental Health  Seneca College of Applied Arts
                                        Technology
Corus Entertainment Inc.                Shell Canada Limited
Deloitte  Touche LLP                   Stantec Consulting Ltd.
Ernst  Young LLP                       Statistics Canada
Fraser Milner Casgrain LLP              Stikeman Elliott LLP
Health Canada-Sante Canada              TD Bank Group
Hewlett-Packard Canada Co.              Telus Corporation
Home Depot Canada, The                  TransCanada Corporation
Human Resources  Skills Develop.       University of British Columbia
Canada
Information Services Corporation / ISC  University of Toronto
Jazz Aviation LP                        University of Victoria
KPMG LLP                                Vancouver, City of
Loblaw Companies Limited                Workers' Compensation Board of
                                        Manitoba
Manitoba Hydro                          Xerox Canada Inc.
Manitoba, Government of                 YMCA of Greater Toronto
Mount Sinai Hospital
National Bank Financial Group                                               

© Marketwire 2012

Article source: http://www.msnbc.msn.com/id/46464062

TORONTO — Canada has threatened to take Europe to the World Trade Organization if it singles out the country’s oil sands as dirty oil, but officials said Tuesday such action wouldn’t affect free trade negotiations with the European Union.

An EU committee is set to vote Thursday on a proposed fuel quality directive that labels Canada’s oil sands as more polluting than oil from other parts of the world. The directive aims to curb emissions from transport fuels by 10 percent. If approved, it will go to the full European parliament.

Canada’s western province of Alberta has the world’s third-largest oil reserves after Saudi Arabia and Venezuela, with more than 170 billion barrels.

Canada doesn’t sell oil to Europe, but government and industry officials fear the dirty oil label would set a bad precedent.

“It risks sullying our reputation in an unfair way and could hurt us in other markets,” Natural Resources Minister Joe Oliver said in a telephone interview with The Associated Press. “We will take action if necessary, but I’m hoping it won’t get passed.”

Oliver said a number of EU countries are opposed, including Britain and France, and they think there’s a reasonable chance the directive won’t get passed.

“Canada will not accept oil sands crude being singled out in the Fuel Quality Directive as an entirely separate feedstock from other crudes which are bundled together under a single default value,” Canada’s ambassador to the European Union, David Plunkett, said in a December letter to Connie Hadegaard, the EU’s commissioner for climate action. The letter was released Tuesday by a spokesman for Canadian Trade Minister Ed Fast.

“I want to again state that Canada will explore every avenue at its disposal to defend its interests, including at the World Trade Organization,” Plunkett wrote.

But Rudy Husny, the spokesman for the trade minister, said pulling out of ongoing fee trade talks with Europe is not an option.

“Minister Fast has and continues to raise Canada’s concerns with the EU regarding discriminatory fuel quality directive proposals. This matter is not linked to our commitment to productive free trade discussions with the European Union,” Fast said.

Critics dislike the idea of tapping Canada’s oil sands, saying it requires huge amounts of energy and water, increases greenhouse gas emissions and threatens rivers and forests. Some projects are massive open-pit mines, and the process of separating oil from sand generates lake-sized pools of toxic sludge.

Travis Davies, a spokesman for the Canadian Association of Petroleum Producers, said the proposed EU directive unfairly singles out Alberta’s oil sands crude but not high-emission oil from places like Venezuela.

Davies said Canada’s oil industry has to continue to improve its environmental record so that it counteracts the dirty oil label.

Davies and Oliver both noted a recent report by Canadian scientist Dr. Andrew Weaver that said the impact of coal is far worse for the world’s climate than Canada’s oil sands.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article source: http://www.msnbc.msn.com/id/46473061

Tue Feb 21, 2012 4:54pm EST

* TSX ends up 165.06 pts, or 1.3 pct, at 12,623.36

* Highest close since Sept. 8, 2011

* Greek debt deal lifts risk appetite

* Domestic economic data mixed

By Jon Cook

TORONTO, Feb 21 (Reuters) – Canadian stocks surged to
a five-month high on Tuesday, with mining and oil shares leading
the way, as risk appetite grew after euro-zone finance ministers
sealed a bailout package for Greece.

The 130 billion euro ($172 billion) deal was finalized after
euro-zone officials forced Athens to commit to unpopular cuts
and as private bondholders agreed to accept deeper losses.
It means Greece will not default on 14.5 billion
euro in bond redemptions due next month.

“This is about taking the downside risk off the market, but
it doesn’t give you the upside part of the equation,” said
George Vasic, equity strategist and chief economist at UBS
Securities Canada. “It’s got to be sustained by good (global)
economic data.”

The Toronto Stock Exchange’s SP/TSX composite index
finished up 165.06 points, or 1.3 percent, at
12,623.36, its biggest one-day gain since Jan. 3 and its highest
level since Sept. 8, 2011.

Signs that Europe’s debt crisis is being stabilized and of
health in the U.S. recovery have rallied the TSX more than 5
percent so far this year.

In the United States, the Dow touched 13,000 on Tuesday for
the first time since just before the financial crisis took hold
in 2008.

Nearly all of the TSX index’s 10 main sectors were higher,
led by the heavily weighted materials group, which gained 3
percent.

Gold miners led the way, with Barrick Gold up 3
percent at C$48.25 as the world’s top gold miner rode higher
bullion prices. Goldcorp climbed 2.9 percent to
C$48.16 and Yamana Gold Inc jumped 4.5 percent to
C$17.13.

Base metal miners also rose as investor appetite for risky
assets such as industrial metals increased. Gains were
led by First Quantum Minerals, up 3.7 percent at
C$23.06, and Teck Resources, which rose 3 percent to
C$39.44.

Potash Corp, the world’s largest fertilizer
producer, climbed 2 percent to C$46.88 on hopes that a more
stable European economy would help global demand.

Oil and gas shares pushed up 1.4 percent as oil prices rose
on heightened euro zone optimism and on stricter sanctions
against Iran. Suncor Energy was the biggest
heavyweight gainer, rising 1.8 percent to C$34.74.

Oilfield services company Flint Energy spiked 66
percent to C$24.79 after U.S. engineering company URS Corp said
on Monday it will buy it for C$1.25 billion ($1.25 billion) in
cash.

Flint’s pending acquisition boosted shares in other Canadian
construction companies that are active in the oil and gas
sector. Aecon Group, for instance, jumped more than 8
percent to C$12.44.

Financial stocks lagged the TSX index’s gains, but still
climbed 1 percent. Royal Bank of Canada led the group,
rising 1.1 percent to C$53.72.

The Greek euphoria overshadowed some mixed Canadian data on
Tuesday. Retail sales dropped for the first time in five months
in December, though wholesale trade rose in the final month of
last year.

“These numbers look weak in relation to the first half of
2011, but we knew Canadian consumers have been a little more
prudent so it’s not entirely surprising,” said Carlos Leitao,
chief economist at Laurentian Bank Securities.

Article source: http://www.reuters.com/article/2012/02/21/markets-canada-stocks-idUSL2E8DLACT20120221