Canada’s Jeff Skinner (from left), Jay Bouwmeester, John Tavares, Kyle Quincey and Ryan Nugent-Hopkins following …

As hard as it to believe, a hockey team led by Jay Bouwmeester and Dion Phaneuf lost today to one led by Zdeno Chara.

Joking aside, the sensation experienced by waking up to news Canada was sent packing from the IIHF world championship after losing 4-3 in the quarter-final to Slovakia is exactly the same as when the mighty U.S. basketball team got its comeuppance from Greece in the worlds in the summer of 2006.

That’s not a comment on the opponent. Slovakia went toe-to-toe with Canada two years ago at the Vancouver Olympics, losing 3-2 in the semifinal. The shock might speak more to how Canada is going about the world championship and the attitude the country at large has taken toward the tournament since Sidney Crosby’s golden goal.

It’s fine to say it doesn’t matter when it’s not a best-on-best tourney. However, the worlds are not a nothing tourney. Witness Alex Ovechkin and Alex Semin playing today for Russia in its quarter-final only five days after their Washington Capitals were ousted from the NHL playoffs. Team USA used to regularly give the worlds a lick and a promise, but its attitude has changed even though it also deals with having top players occupied by the Stanley Cup playoffs.

Before anyone goes into a panic about what this means for Canada’s chances at the Olympics in two years, presuming the NHLers play in Sochi, some perspective needs to be shared. The same goes for the position that this really doesn’t matter, that’s it’s just one of those upsets. Ryan Getzlaf took a major penalty in the final three minutes, Slovakia scored off the enusing faceoff; move along, nothing to see here.

It is tough to buy the latter argument, though, when you look at the bigger picture. Three consecutive years without making the medal round is glaring for a country that claims to be the best at the sport.

More to the point, the result validates questions of why Hockey Canada turned the team over to executives of the perpetually rebuilding Edmonton Oilers. Well before the event, hockey bloggers such as Tyler Dellow argued that if Canada was serious about winning, Team Canada GM and Oilers president Kevin Lowe would not have put 18-year-old NHL draft prospect Ryan Murray on the roster ahead of a seasoned NHLer. Murray made for a good story, but normally only smaller nations with a lack of depth have to use a junior-aged player in the worlds.

No room for Spezza

The NHL’s fourth-leading scorer, Ottawa Senators centre Jason Spezza, was reportedly told there was no spot for him on the team. Yet young Oilers Jordan Eberle and Ryan Nugent-Hopkins, who are young pups at 22 and 19 years old, were there. Now you know why the Oilers are bad.

This is also adds to unease about Canada’s ability to adapt to the big international ice surface, which it will have to do in Sochi. Even if a few top NHLers — Sidney Crosby, Jordan Staal, Marc-Andre Fleury, Daniel Briere, Scott Hartnell, Roberto Luongo, et al.— opted out of playing, there should be enough depth to at least reach the semifinal. It cannot be called a developmental team, not with Getzlaf and Corey Perry on the roster. It’s true Canada sent its youngest team ever to the tournament, but it also sent a very young team in 2007, the last time it won the worlds.

There’s nothing wrong with skipping the hand-wringing and saying this is no big deal. This was just the way it goes sometimes. Slovakia has been known to punch above its weight in hockey, plus they had Chara playing half the game on the blueline. The world championship is also a wide-open tournament. The absence of top NHLers who are still playing for the Stanley Cup gives nations such as Norway, Germany and Slovakia more of a chance.

Still, laughing it off as Canadian perspective is shortsighted. The legacy of the 2010 gold medal, Crosby’s goal, should have been to make us engage more with the wider hockey world. We can’t pick and choose when being on top is important. This is a major tournament to much of the hockey world and it should be for us.

Neate Sager is a writer for Yahoo! Canada Sports. Contact him at neatesager@yahoo.ca and follow him on Twitter @neatebuzzthenet.

Article source: http://sports.yahoo.com/blogs/eh-game/canada-hockey-loss-slovakia-cause-concern-151819481.html

Canada Pension Plan Investment Board,
the country’s second-biggest public pension manager, posted a
return of 6.6 percent in the latest fiscal year, led by real
estate, bonds and infrastructure investments.

Investment income for the year ended March 31 was C$9.9
billion ($9.8 billion), the Toronto-based fund manager said
today in a statement. Assets rose to a record C$161.6 billion
from C$148.2 billion a year earlier.

“This was a 12-month period that had some particular
challenges in the global equity markets,” Chief Executive
Officer David Denison told reporters today in a briefing in
Toronto. “But it was a very strong year of growth.”

Canada Pension’s results beat the 3.2 percent median return
of the country’s pension funds over the 12 months, according to
RBC Dexia Investor Services. The manager posted gains in U.S.
and other developed-market equities as well as in bonds. It also
realized gains from private funds such as real estate and
infrastructure holdings. Returns were held down by losses in
Canadian stocks and emerging-market equities.

Canada Pension had a five-year annualized return of 2.2
percent as of the end of March, and a 10-year annualized return
of 6.2 percent. In fiscal 2011, Canada Pension returned 12
percent. The fund includes investment earnings and contributions
not needed to pay current pensions. Contributions last year
amounted to C$3.9 billion.

Real Estate Returns

Real estate and infrastructure, which represent more than
16 percent of the fund’s investments, both returned about 13
percent in fiscal 2012, outperforming returns from equities,
which account for half the fund’s portfolio.

The pension plan’s bond portfolio, which includes money-
market securities, also lifted investment income, returning 9.5
percent last year, up from 5.3 percent in 2011. Canada Pension
said non-marketable bonds returned 14 percent last year, more
than triple that of 2011, and inflation-linked bonds returned
about 16 percent, up from 10 percent.

The fund lost 11 percent on Canadian stocks, compared with
a 20 percent return the prior year, as Canada’s benchmark
Standard Poor’s/TSX Composite Index fell 9.8 percent in the
year ended March 31, including dividends. Canadian private
equities returned 8.1 percent last year, about half the return
of 2011.

Foreign Stocks

Public foreign developed market equities had a 3.6 percent
return, down from 9.1 percent the year earlier, while private
foreign developed market equities returned 12 percent, down from
19 percent, Canada Pension said. The MSCI World Index gained 1.2
percent in the period.

Public emerging market equities lost 7.9 percent, compared
with an 11 percent return in 2011, the fund said. Private
emerging market equities rose 6.6 percent, compared with 17
percent the prior year.

Denison, who has been CEO of the fund since January 2005,
retires next month. He’ll be succeeded by Mark Wiseman,
currently executive vice president of investments for the
pension.

Canada Pension covers every Canadian province except
Quebec. Caisse de Depot et Placement du Quebec, Canada’s largest
pension fund, said Feb. 23 it posted a 4 percent return on
investments for the year ended Dec. 31. Ontario Teachers’
Pension Plan, the third-biggest retirement-fund manager, also
advanced 11 percent last year.

To contact the reporter on this story:
Doug Alexander in Toronto at
dalexander3@bloomberg.net

To contact the editor responsible for this story:
Christian Baumgaertel at
cbaumgaertel@bloomberg.net

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Article source: http://www.bloomberg.com/news/2012-05-17/canada-pension-posts-6-6-return-on-real-estate-bonds.html

TORONTO (Reuters) – Canada’s dollar hit a four-month low against the U.S. dollar on Thursday as investors were gripped by worries about European banks and the prospect of Greece leaving the euro zone

Uninspiring U.S. and Canadian economic data added to the gloom.

Fears about Spain’s banks resurfaced after a newspaper report that customers at Bankia , the partly nationalized lender, had withdrawn more than 1 billion euros from their accounts in the past week. The Spanish government said there had been no exit of deposits.

The report followed suggestions that customers of Greek banks were moving funds in expectation of the country’s exit from the euro, adding to broader anxiety about the region’s debt crisis.

“To me, at the top of the list (of concerns) is banking … particularly bank runs and the signs of bank runs, that’s a new chapter that’s being opened in Europe and that is behind the considerably elevated worries,” said Adam Button, currency analyst at ForexLive in Montreal.

The Canadian dollar ended the North American session at C$1.0191 versus the U.S. dollar, or 98.13 U.S. cents, down from Wednesday’s finish at C$1.0127 versus the U.S. dollar, or 98.75 U.S. cents. It was the currency’s fourth straight day of losses as hit its weakest level since January 16.

Button said the Canadian dollar could easily slip back to the C$1.04 area in the next month, particularly if the Bank of Canada begins to indicate that it is less eager to hike interest rates.

“The Bank of Canada will back down from its hawkish rhetoric. We’re seeing increasing signs of slowing growth in the U.S., in China and, of course, in Europe,” he said.

“Moreover, commodity prices are indicating a slowdown in worldwide growth and that’s the No. 1 concern for the Bank of Canada.”

The focus on global risks takes some of the pressure off domestic data in driving direction for the Bank of Canada, with investors cutting bets for a rate hike later this year.

Still, markets will be paying attention to Canadian inflation data for April on Friday. According to a Reuters poll, Canadian consumer prices likely remained subdued, suggesting price pressures are the least of the Bank of Canada’s worries.

“Negative risk-appetite in the market as concerns over Europe and Greece continue to be forefront in market sights here,” said Matt Perrier, director of foreign exchange sales at BMO Capital Markets.

A round of mostly disappointing North American economic data also weighed on sentiment.

A gauge of future U.S. economic activity fell in April for the first time in seven months and the Philadelphia Fed business conditions index hit its lowest since September.

In addition, the weekly U.S. claims for jobless benefits remained at levels that indicated the pace of hiring remains lackluster, increasing worries about the domestic recovery.

In Canada, while wholesale trade figures came in slightly better than expected, other data showed foreign investors reduced their holdings of Canadian securities for the second time in three months in March.

Canadian bond prices rallied across the curve, outperforming U.S. Treasuries in the rate-sensitive short end of the curve but lagging at the long end. The two-year government bond jumped 14 Canadian cents to yield 1.234 percent, while Canada’s 10-year bond gained 39 Canadian cents to yield 1.881 percent.

(Editing by Leslie Adler)

Article source: http://news.yahoo.com/canada-dollar-hits-4-month-low-chapter-europe-203232212--finance.html

Among the companies whose shares are making notable moves in Thursday’s session are Canadian Pacific Railway Ltd. (CP), Sears Canada Inc. (SCC.T), 5N Plus Inc. (VNP.T) and Gabriel Resources Ltd. (GBU.T).

Activist investor Bill Ackman’s proposed board slate for Canadian Pacific (C$76.97, C$1.11, 1.5%) has been voted in. CP conceded defeat before its annual …

Article source: http://online.wsj.com/article/BT-CO-20120517-710138.html

(AP)
–
4 hours ago 

HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. said Thursday it returned to a profit in the first quarter as it benefitted from a gain on the sale of underperforming stores. The troubled retailer also said it would spinoff a stake in its Canada unit to focus on turning around its U.S. business.

The Hoffman Estates, Ill., company, which runs Sears, Kmart and Lands’ End, said it earned $189 million, or $1.78 per share, for the period ended April 28. It lost $170 million, or $1.58 per share, a year ago.

The current quarter included a $233 million gain on the sale of 11 U.S. stores, three Canadian stores and leasehold interest.

Excluding store closing costs and other items, Sears lost 31 cents per share from continuing operations. That was better than the loss of 67 cents per share analysts had expected. Shares of Sears rose $4.37, or about 9 percent, to $55.24.

Earlier this year, Sears also announced that it was spinning off its smaller Hometown and Outlet stores as well as some hardware stores in a deal expected to raise $400 million to $500 million. That transaction is still expected to close in the third quarter, Sears said Thursday.

Sears Chief Financial Officer Rob Schriesheim said in a statement that the company anticipates that it will generate $1.6 billion to $1.7 billion in capital this year through a number of actions, including the Hometown and Outlet spinoffs, previously announced cost reductions and moves taken to lower cash invested in inventory, and the sale of certain stores in the U.S. and Canada.

“They’re selling their branches to raise working capital,” said Michael Cipriani, executive vice president of Rosenthal Rosenthal, which buys merchandise from suppliers and then collects the money from the retailer once the goods are sold. “All these are good signs. I believe they’re on the road to recovery.”

Still, the company has a long way to go in turning around its business. Total revenue for the latest quarter slipped 3 percent to $9.27 billion, partly as a result of unfavorable foreign currency exchange rates and having fewer stores open during the period. Wall Street had forecast revenue of $9.26 billion.

Revenue from Sears stores in the U.S. open at least a year fell 1 percent, while the figure dropped 1.6 percent for Kmart locations. The figure is a critical indicator of health because it excludes the impact of newly opened or closed stores.

Both Sears and Kmart stores experienced soft sales of consumer electronics but stronger sales of clothing and footwear. For Sears Canada, the metric slid 6.3 percent on declines in electronics, home decor, hardware and clothing.

Gary Balter, an analyst with Credit Suisse, noted that Sears may have benefitted from J.C. Penney’s “debacle” in the first quarter. Penney blamed its big first-quarter loss on bad reaction from shoppers to its decision to get rid of hundreds of sales each year in favor of predictable low prices every day. Balter said that implies that it could be more difficult for Sears to deliver positive results going forward.

Sears’ cash balance for the quarter climbed to $784 million from $754 million over the three-month period ending April 28. It has also reduced inventory levels and trimmed its total debt to $3.2 billion at quarter’s end, down from $3.5 billion

Earlier this month at Sears annual meeting, executives emphasized the company’s financial strength, increased liquidity and prospects to boost operational results. During the meeting, Chairman Edward Lampert said that real estate sales were important to restore profitability and to get shareholders’ confidence back.

The company also noted that it had invested several hundred million dollars in improving the customer experience. Changes include improved displays and almost 15,000 iPads and iPod Touch devices so sales staff can research products and help customers check out wherever they are in a store.

Sears has been on the defensive with Wall Street because of the years-long decline in sales at its Sears and Kmart stores. Revenue at U.S. stores open at least a year fell 2.2 percent last year.

Sears Holdings said will keep an approximately 51 percent stake in Sears Canada, down from 95 percent. The proposed spinoff is expected to close this year, with Sears Canada continuing to list on the Toronto Stock Exchange after the deal’s closing. The company said the move will allow it, as well as Sears Canada, to focus on its respective businesses.

Sears currently has more than 3,900 stores in the U.S. and Canada.

Copyright © 2012 The Associated Press. All rights reserved.

Article source: http://www.google.com/hostednews/ap/article/ALeqM5gwXPCq5EnV75u1Yvbs5bQ59SUMuQ?docId=4e43b04bf42c418fb8d55a293c23e430

HELSINKI (AP) San Jose Sharks’ Michal Handzus gave Slovakia the winning goal in a 4-3 victory over Canada in the quarterfinals of the ice hockey world championships in Helsinki on Thursday.

Tomas Kopecky opened the scoring at 5:57, followed by Miroslav Satan at 9:14 to give Slovakia a 2-0 lead in the first period.

Canada rallied in the second period, with Winnipeg Jets’ Evander Kane scoring at 16:14 and a power-play goal by Carolina Hurricanes’ Jeff Skinner 10 minutes later. Vancouver Canucks’ Alexandre Burrows added a third goal before the end of the period.

Milan Bartovic tied it for Slovakia at 13:25, four minutes before Handzus gave his country a place in Saturday’s semifinals.

Article source: http://sports.yahoo.com/news/slovakia-ousts-canada-4-3-151255607--nhl.html

Next Stop:  WorldSkills Leipzig 2013

EDMONTON, May 16, 2012 /CNW/ – (SKILLS CANADA NATIONAL COMPETITION 2012) - Canada’s best and brightest skilled trade and technology students received official recognition for their outstanding performance as Skills/Compétences Canada announced the results of the Skills Canada National Competition. The closing ceremonies, held today in Edmonton, were highlighted by the parade of champions and the announcement of the Members of Team Canada, whose next stop will be WorldSkills Leipzig 2013.

The essential contribution of skilled trades to the economic and social well being of all Canadians was a common theme throughout the closing ceremonies. Highlights included keynote addresses from Dr. Kellie Leitch, Parliamentary Secretary to the Honorable Diane Finley, Minister of HRSDC, the Honorable, Naresh Bhardwaj, MLA Edmonton-Ellerslie, Ken Pischke, Senior Vice-President, Cenovus Energy (Presenting Sponsor of the 2012 Competition), and Mike Holmes, Official Spokesperson for Skills Canada and Canada’s Most Trusted Contractor.

“Our government’s top priority is job creation and economic growth, and we recognize that, as the future workforce, young Canadians have much to contribute to our country’s long-term prosperity,” said Dr. Kellie Leitch, Parliamentary Secretary to Diane Finley, Minister of Human Resources and Skills Development, during the closing ceremony. “Through our grants, tax credits and support for training programs and skills competitions, we are encouraging apprenticeships and careers in the skilled trades.”

The Skills Canada National Competition is the only national, Olympic-style, multi-trade and technology event of its kind for young students and apprentices in the country. The event took place May 14-15^th at the Edmonton EXPO Centre in Edmonton City, Alberta where forty different assigned projects were showcased in major skilled trade and technology categories. Competitors were evaluated by independent judges from the respective industry sectors, who based their decisions on industry standards and established work practices, including such criteria as quality of work, safety, cleanliness, skill level and creativity.

“The goal of this annual Competition is to reward students for excellence in the skilled trades, while directly involving industry leaders and educators in the training process and in evaluating their performance in a way that is relevant to employers’ needs,” said Shaun Thorson, CEO, Skills Canada. “The enthusiasm and hard work shown by the competitors throughout the Competition has been inspiring and we want to congratulate each one. We also want to thank and acknowledge the ongoing support from the Government of Canada, sponsors and organizers for working with us to ensure that there is a bright future for Canada’s skilled trade and technology workforce.”

Medalists
A total of 180 medals were awarded to the top champions in six skilled trade and technology categories: transportation, construction, manufacturing, information and technology, service and employment. Best of Region competitors were also recognized for having the highest competitive score by category for their Region. Click here for the complete results.

Team Canada for WorldSkills Leipzig 2013
The 35 members of Team Canada heading to WorldSkills Leipzig 2013 will compete in 33 skill categories against more than 900 Competitors from 51 Member countries/regions. The four-day WorldSkills Competition is the biggest of its kind in the world and considered the pinnacle of excellence in skilled trades and technologies training. Click here for the members of Team Canada.

About Skills/Compétences Canada
Skills/Compétences Canada was founded in 1989 as a national, not-for-profit organization that works with employers, educators, labour groups and governments to promote skilled trades and technology careers among Canadian youth. Its unique position among private and public sector partners enables it to work toward securing Canada’s future skilled labour needs while helping young people and aspiring apprentices discover rewarding careers. Skills/Compétences Canada offers experiential learning opportunities including skilled trades and technology competitions for hundreds of thousands of young Canadians through regional, provincial/territorial, national and international events, as well as skilled trade awareness programs. Many programs highlight digital and essential skills, which are crucial qualifications in most careers of today.  Headquartered in Ottawa, Ontario, Skills/Compétences Canada is the Canadian Member organization of WorldSkills International. For more information about Skills/Compétences Canada visit www.skillscanada.com, or call 877-754-5226.

Follow Skills/Compétences Canada on Twitter (follow hashtag #SCC2012), Facebook, YouTube and Flickr.

Image with caption: “Team Canada ready for WorldSkills 2013 (CNW Group/SKILLS/COMPETENCES CANADA)”. Image available at: http://photos.newswire.ca/images/download/20120516_C8475_PHOTO_EN_13837.jpg

Article source: http://finance.yahoo.com/news/top-talent-awarded-skills-canada-235100945.html

Leading provider of technology solutions moves up a spot on the list

ETOBICOKE, ON, May 17, 2012 /CNW/ – CDW Canada, a leading provider of technology solutions for Canadian organizations in the public and private sectors, today announced it has ranked number three on the 2011 Top 100 Solution Providers list for Computer Dealer News (CDN).

CDW Canada has quickly climbed the coveted list. In 2010, it placed in the top five for the first time, coming in at spot number four.

“When CDW Canada entered the Canadian market in 2005, CDN predicted it would not be long before it would receive a top five award at the Top 100 Solution Providers event. Last year CDW Canada achieved that goal. This year, CDW Canada grew again and was presented with the number three Solution Provider of the Year award,” says Paolo Del Nibletto, Editor, Computer Dealer News.

“We are pleased to rank third on this year’s CDN Top 100 Solution Providers list,” says Mary Ann Yule, Vice President and General Manager, CDW Canada. “Our recognition as a top solutions provider in Canada is a testament of the value we deliver to our customers and is a result of the hard work and dedication of our coworkers, who always strive to be the best at what they do and what they deliver. Our team of account managers and technology specialists are some of the best in the industry and through them our customers receive expert advice on products and technology solutions that suit every requirement to help accelerate their business. Everything we do revolves around the customer.”

About CDW Canada
CDW Canada Inc. (http://www.cdw.ca/) is a leading provider of technology solutions for organizations in the public and private sectors. As a trusted advisor for small and medium sized enterprises (SMEs), CDW Canada provides a single destination for organizations to research, inquire or purchase virtually any technology solution that they require. Customers benefit from one-on-one relationships with knowledgeable account managers who are backed by a team of highly certified IT specialists. Through successful partnerships with more than 350 leading technology manufacturers, CDW Canada draws from a comprehensive selection of 160,000 technology products to help customers find the best technology to meet their unique business needs.  Headquartered in Etobicoke, Ontario, CDW Canada is a wholly owned subsidiary of Vernon Hills, Illinois-based CDW Corporation. In 2011, CDW Canada ranked #25 on Best Workplaces in Canada.

About CDN’s Top 100 Solution Providers Program
CDN has been the voice of Canada’s IT channel community for more than 25 years, and is the number one channel publication and Web site. The Top 100 Solution Providers Program includes a list of best-in-class channel partners who are ranked as the Top 100 highest revenue-generating solution providers with major operations in Canada. For more information about CDN and Top 100 Solution Providers, visit www.computerdealernews.com.

Article source: http://finance.yahoo.com/news/cdw-canada-ranks-third-cdns-163700423.html

MONTREAL , May 17, 2012 /CNW Telbec/ – Air Canada re-launches today daily
non-stop seasonal flights between St. John’s and London Heathrow, U. K.
offering convenient connecting flights throughout Europe with its Star
Alliance partner carriers. Air Canada will operate the only daily
non-stop flights between Newfoundland and Labrador and London Heathrow
until September 30, 2012 .

“This year, we are starting service almost two weeks earlier than last
year due to strong performance and support from the St John’s
community,” said Marcel Forget Vice-President, Network Planning, Air
Canada . “Once again we are pleased to offer our customers in
Newfoundland and Labrador the fastest and most efficient way of making
connections to several European capitals such as Stockholm , Oslo ,
Copenhagen , Vienna , Warsaw , and Berlin .”

Air Canada flight AC822 leaves St. John’s at 22:05, arriving in London
at 06:35, and flight AC823 will leave London at 13:00 arriving back in
St. John’s at 15:10.  At London Heathrow Air Canada offers convenient
connections to points throughout Europe with its Star Alliance
partners. In St. John’s Air Canada’s flights are timed to offer
convenient connections to and from Deer Lake, Halifax , and Toronto .

Flights will operate using a 120-seat Airbus A319 aircraft in a
two-cabin configuration offering a choice of Executive Class and
Economy service. On May 1, 2012 Air Canada expanded the selection on
its In-flight Entertainment System to offer customers twice as many
movies to choose from than before. The enriched personalized seatback
system will give each customer free access to a menu of up to 150
movies designed to suit every taste, ranging from the latest Hollywood
blockbuster to classic art house and international films.

Air Canada’s seasonal St. John’s-London Heathrow service will complement
the carrier’s daily non-stop flights to London Heathrow from Vancouver ,
Edmonton , Calgary , Toronto , Ottawa , Montréal and Halifax.  In 2012 the
carrier will offer up to 84 flights each week from Canada to London
Heathrow.

Air Canada is proud to serve Newfoundland and Labrador with safe and
reliable air transportation since 1942. With the launch of Air Canada’s
St. John’s-London Heathrow service, Air Canada and Air Canada Express
offer over 150 scheduled flights each week to 11 destinations across
Canada to and from St. John’s , including non-stop service to Toronto ,
Ottawa , Montréal and London Heathrow, as well as same plane service to
Calgary , Fort McMurray and Edmonton .

Air Canada is Canada’s largest domestic and international airline
serving more than 175 destinations on five continents.  Canada’s flag
carrier is the 15th largest commercial airline in the world and in 2011
served more than 33 million customers. Air Canada provides scheduled
passenger service directly to 59 Canadian cities, 56 destinations in
the United States and 63 cities in Europe , the Middle East , Asia,
Australia , the Caribbean, Mexico and South America . Air Canada is a
founding member of Star Alliance , the world’s most comprehensive air
transportation network serving 1,290 destinations in 189 countries. Air
Canada customers can collect Aeroplan miles for future rewards through
Canada’s leading loyalty program, and Top Tier members enjoy reciprocal
frequent flyer benefits including lounge and priority services.

In 2011, Air Canada was ranked Best International Airline in North
America in a worldwide survey of more than 18 million airline
passengers conducted by independent research firm Skytrax.  Also in
2011, readers of Global Traveler magazine voted Air Canada “Best Airline in North America ,” and readers
of Business Traveler voted Air Canada “Best North American Airline for International Travel”
and “Best In-Flight Services in North America .”  In the annual Ipsos
Reid Business Traveller Survey, Air Canada was named “Canada’s Favourite Airline for Business Travel.”  Air Canada was
preferred by 73 per cent of Canadian business travellers surveyed for
2011, the third consecutive year of improvement in Air Canada’s ratings
in the national survey. For more information on Air Canada visit aircanada.com and follow @AirCanada on Twitter and Facebook.

Article source: http://finance.yahoo.com/news/air-canada-launches-daily-non-160700529.html

(Reuters) – Sears Holdings Corp said on Thursday it plans to spin off a large part of its stake in its Canada unit, which Chairman Edward Lampert spent years trying to gain control of, to better focus on its U.S. business.

Separately, Sears Holdings reported a first-quarter adjusted operating loss that came in better than analysts’ estimates but revenues fell from a year ago.

Sears Holdings owns about 95 percent of Sears Canada and would still hold about 51 percent after the spinoff, which it expects to complete this year. Sears said it could further reduce its Sears Canada stake after that.

The move follows efforts this year by Sears Holdings to cut costs by closing scores of stores and raise cash by selling prime real estate and spinning off its Sears Hometown and Outlet businesses and certain hardware stores.

Sears Canada and Sears Holdings said in separate statements the spinoff would allow each company to focus on its businesses, both of which are struggling with declining sales.

Two years ago, the company added to its stake in Sears Canada by buying 17.3 percent of the Canadian unit from hedge fund manager William Ackman’s Pershing Square Capital Management.

Ackman and other minority investors had thwarted Sears Holdings’ attempt in 2006 to buy the shares of Sears Canada it did not already own.

At the time that Sears bought out Ackman’s stake, analysts praised the move, saying the cash-rich Canadian unit was a way to improve Sears Holdings’ financial position.

But Sears Canada’s fortunes have reversed course since then, and it has been a drag on overall results.

On Wednesday, Sears Canada reported sales at stores open at least a year — a key measure for retailers — fell 6.3 percent, a far steeper drop than the combined 1.3 percent decline at its U.S. stores and Kmart discount chain.

Separately, Sears Holdings reported net income of $189 million, or $1.78 per share, for the quarter ended April 28, compared with a $170 million loss, or $1.58 per share.

The retailer reported an adjusted loss from continuing operations of 31 cents per share, better than the 67 cent loss Wall Street was expecting, according to Thomson Reuters I/B/E/S.

Overall Sears Holdings revenue fell 2.8 percent to $9.27 billion, hurt by store closings, declines in sales of appliances and home electronics, and weakness in Canada.

There were some bright spots. Sears U.S. stores saw sales of apparel and footwear rise, while Kmart’s gross profit margin rose, helped by fewer markdowns in toys and sporting goods.

(Reporting By Phil Wahba and Dhanya Skariachan; editing by Lisa Von Ahn and Jeffrey Benkoe)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

Article source: http://www.msnbc.msn.com/id/47458836