Canada gets new look for Olys
fiscal fears drag TSX to five-week low Telecommuncations Services Tue Oct 8, 2013 4:55pm EDT * TSX falls 95.82 points, or 0.75 percent, to 12,692.41 * Nine of 10 main index sectors decline * Talisman in focus after Icahn stake * Manitoba Telecom drops after government rejects unit sale By John Tilak TORONTO, Oct 8 (Reuters) – Canada’s main stock index dropped on Tuesday to its lowest in five weeks as a political standoff in Washington highlighted the crisis over the U.S. debt limit and threatened to push the world’s biggest economy into default. Talisman Energy Inc found itself in the spotlight after activist investor Carl Icahn disclosed a stake in the company late on Monday. The stock jumped in early trade before paring those gains to slip with the broader market. The Toronto market gave up its gains as hopes of a speedy resolution to the fiscal crisis took a beating after President Barack Obama said he would be willing to negotiate on budget issues only after the Republicans agreed to re-open the federal government and raise the debt limit with no conditions. “It’s a bit of a buyers’ boycott,” said Irwin Michael, portfolio manager at ABC Funds. “People are gun-shy, and they want to sit and watch until the dust settles.” “We believe it will be resolved and the market will eventually do better,” he added. “However, in the short run people’s imagination is running wild.” The Toronto Stock Exchange’s S&P/TSX composite index closed down 95.84 points, or 0.75 percent, at 12,692.41, after falling to as low as 12,682.94, its weakest level since September 3. Michael expects the index to end the year higher after the current U.S. fiscal turmoil eases. Nine of the 10 main sectors on the index were in the red on Tuesday.
Canada Carbon Acquires Mining Claims Adjacent to Miller Property
William Ackman recently shook up an iconic Canadian brand, Canadian Pacific Railway, and made a killing for his Pershing Square hedge fund revamping the company. Canadas Globe and Mail even named Ackman its CEO of the year . Other American activists, however, have had less luck and dont view Canada as a great place to practice their brand of investing. Barry Rosenstein had his Jana Partners hedge fund launch an activist proxy campaign against Canadian fertilizer maker Agrium that failed. Rosenstein later slammed what happened to him in Canada , alleging the company bribed shareholders using a tactic allowed in Canada that saw Agrium pay brokers 25 cents for a successful vote in the proxy contest. Theres a cost to what they did. Theres a cost to corporate governance in Canada. Will I think twice about going back to Canada? Yeah, I would, Rosenstein said. American activist investors seem to be increasingly embarking on foreign adventures during a time when their investment strategies are ascendant, but going far from home doesnt make things easier. Another New York hedge fund billionaire, Dan Loeb, has so far not accomplished much in his effort to spark change at Japans Sony.
CANADA STOCKS-U.S. fiscal fears drag TSX to five-week low
“They didn’t realize what they were here for. When they saw the jersey for the first time, it hit them like it hits any NHL guy that’s going to don that jersey.” For many hockey fans it wasn’t the first glimpse of the red, white and alternate black jerseys that the men’s, women’s and sledge hockey teams will wear at the Olympic and Paralympic Games in Sochi. Pictures of the uniforms have leaked out over the last month. But that didn’t damper the enthusiasm for the teenagers who stepped onto the ice amid club music and laser lights and skated around to show off the uniforms. “First to ever try on the Team Canada Olympic Jersey and unveil it to everyone. Speechless,” Paul Coffey’s son, Blake, wrote on Twitter afterward. “Honoured to get the opportunity to unveil the 2014 Team Canada Olympic Jersey Launch.” Hockey Canada’s reveal was another opportunity for fans to give their opinions about the jerseys. Some said it looked like Petro-Canada’s logo, while others wanted to go back to the jerseys used when Canada won gold in Vancouver in 2010. “People talking about how they feel about a jersey that’s close to their heart and represents their country is a great thing,” Nike creative director Ken Black said. The red and white jerseys feature a Maple Leaf logo with a stripe across the chest, while the black jersey has “CANADA” written across it in white letters on a gold stripe. All three include 12 gold maple leaves inside the collar to commemorate the eight men’s, three women’s and one sledge hockey gold medal the country has won at the Olympics. Black said the jerseys were inspired by the 1920 team that won gold at the Summer Olympics in Antwerp, Belgium, with touches from the 1972 national team uniform. “The best resource that we have in our country are our players and our people,” Hockey Canada president and CEO Bob Nicholson said. “This really respects where it all started back in 1920.” Back then there were fewer avenues for fans to express their feelings about jerseys. This time around criticism began in early September when a photo of Jonathan Toews wearing Canada’s red jersey surfaced online.
Markets open in 1 hr 9 mins Canada Carbon Acquires Mining Claims Adjacent to Miller Property Press Release: Canada Carbon Inc. 21 minutes ago 0.24 +0.0100 VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct 9, 2013) – Canada Carbon Inc. (TSX VENTURE:CCB) (the “Company”) announces that it has entered into a mining claims purchase and transfer agreement (the “Agreement”) with an arm’s length Vendor (“Vendor”) pursuant to which the Company will purchase 14 mining claims and 10 pending claims (collectively, the “Claims”) contiguous to the Company’s historic Miller Graphite Mine (the “Miller Property”). The Claims are located [80 kilometres (“km”) west of Montreal near Grenville, Quebec.] With this new land acquisition, the Miller Property will now cover 26.2 km2 of prospective graphite potential. Pursuant to the Agreement, and subject to the prior approval of the TSX Venture Exchange, the Company has agreed to pay $25,000 in cash and to issue 250,000 common shares in the capital of the Company to the Vendor. On Behalf of the Board of Directors CANADA CARBON INC. R. Bruce Duncan, CEO and Director “Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com ).