Shriveled Blackberry Has Canada Needing Research Driver

Canada reported to have spied on Brazil energy ministry

Since then, shares have more than quadrupled nearing C$4.50 in Friday trading. So why do the markets love this stock, and is there still room to buy? Progress Although there is still a lot of debt at Air Canada, the carrier is making strides to make it more manageable. Last month, Air Canada refinanced around $1.4 billion in long-term notes, some of which yielded up to 12%, at lower rates. Not only has this lowered the airline’s interest expense, but the stronger balance sheet puts Air Canada in a better position to finance its upcoming Boeing 787 purchases. Air Canada was also able to manage its pension liability with an agreement it reached in March with the Canadian government. Under the agreement, Air Canada will be granted until 2020 to fully fund its pension and in exchange, executive pay restrictions were put in place and the airline is banned from paying dividends or engaging in share buybacks. While the elimination of potential dividends and share buybacks is a negative, the extension of the pension funding timeframe is a major positive and prevents Air Canada from becoming insolvent over this obligation. But the big news that drove Air Canada shares higher on Friday was improved guidance on the airline’s cost-cutting program. As rival WestJet Airlines (TSX: WJA ) has grown in the Canadian market, Air Canada’s higher cost structure has come under pressure. Branding itself as a discount alternative to Air Canada, WestJet has taken a major role in the Canadian market. Guidance in the September report noted that cost per available seat mile should fall 3% to 3.5% for the third quarter compared with the 1.5% to 2.5% forecasted in August’s guidance.

Fairfax, led by Chief Executive Officer Prem Watsa , has not disclosed the names of any of its partners in the bidding consortium, and hadnt secured financing for the deal at the time it was announced Sept. 23. BlackBerry shares were down 0.5 percent to $7.69 at 4 p.m. in New York , more than a dollar below the offer price, reflecting investor concerns the deal may not get done. It is a Canadian icon and that is what makes it more difficult for people, said Eric Hoskins, Ontarios economic development minister. Its pretty difficult to create a BlackBerry. Waterloo and its sister city Kitchener lie in the rolling farmlands of southwest Ontario, part of a region known as the Golden Horseshoe, a reference to the circular shoreline of Lake Ontario . The area has been known for its agriculture, its auto plants, and more recently, its technology. Besides BlackBerry, the city is home to Open Text (OTC) , which has seen its stock gain 38 percent this year in Toronto trading, and Descartes Systems (DSG) Group Inc., which is up 28 percent. BlackBerry shares are down 35 percent in New York. Startup Hopes Over a foosball table in the engineering schools non-profit snack bar, across a parking lot and over a chain-link fence from BlackBerry headquarters, students Stephen Arsenault and Nikhil Ramakrishnan agree BlackBerry is down, and say they hope that other Waterloo startups can sustain the regions industry. It wasnt where I bet all my eggs on, said Arsenault, a second year computer engineer who wanted to work for BlackBerry for his first co-op work term and took an offer from another company instead.

It was his second dramatic closing shot of the day. Early Sunday morning in the completion of the alternate-shot match against Keegan Bradley and Phil Mickelson, DeLaet chipped in for a three at the par-4 18th with Bradley positioned to make birdie from 12 feet below the hole. “Just one of the coolest feelings in my life really,” said DeLaet, who looked as though he might burst a blood vessel when his chip tumbled into the hole. “I was standing over it, and I was like, this is what we practice for. We put in a lot of time around the greens, and it was a little grainy and it was super soft. I just did all the technique we’ve been practicing with Gabe (Hjertstedt, his short-game coach), and it paid off.” That match was halved, but DeLaet will never forget either moment. “What an unbelievable way to finish,” said DeLaet, who shared the best record on the team, 3-1-1, with Day, who dismantled Brandt Snedeker 6 and 4 in the second singles match. “When I got up here (to the green) I thought I was really going to have to work to make four to halve the hole if Jordan missed,” said DeLaet. “Pretty crazy finish the last two times here today. I executed them both well, but there’s some luck involved as well.” “We gave it a good shake,” said Adam Scott. “I think with so many new faces on the team, they got a great first experience here with the Cup; guys like Graham, unbelievable what he achieved the last couple of days, chipping in on 18 twice, it’s incredible. I hope he embraces that and brings that forward for the future of the tournament.” “I think we saw a few guys – Graham DeLaet, Brendon de Jonge, Hideki Matsuyama to name just three – that are going to be around Presidents Cup teams for a long time,” said Price The loss by the team was closer than anyone thought after entering the singles down by six points, but it was a loss after all. “I know that everyone back home is super proud, and I mean, I’m a proud Canadian. It’s awesome to be here with these guys representing Canada,” DeLaet said.

Canada’s DeLaet turns heads with his play and his personality

Canada spied on communications at Brazil’s Mining and Energy Ministry, according to Canadian intelligence documents revealed Sunday by Globo television. Caption BRASILIA: Canada spied on communications at Brazil’s Mining and Energy Ministry, according to Canadian intelligence documents revealed Sunday by Globo television. Documents leaked by former US intelligence contractor Edward Snowden, purportedly from the Canadian Security Intelligence Service, show a detailed outline of the Brazilian ministry’s communications including phone calls, emails and Internet traffic. Earlier disclosures by Snowden that the United States spied on the same ministry, as well as on President Dilma Rousseff and her aides, have greatly strained US-Brazilian ties. Canada has mining interests in Brazil, Mining and Energy Minister Edilson Lobao told Globo. He described the development as “serious.” “There are many Canadian businesses interested in doing business in our country. If that is where the interest in spying comes from, to help certain business interests, I cannot say,” Lobao added. Snowden, a 30-year-old former National Security Agency contractor, is wanted by the United States after revealing details of a massive NSA electronic surveillance program. Snowden spent more than a month in transit in Moscow’s Sheremetyevo airport before slipping into Russia where he was granted asylum. – AFP/xq