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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Dec 13, 2011
Page
5
Canadian and U S equity indices retreat with the S P 500 and Nasdaq slipping. Canada’s TSX segments decline while currencies firm little versus the U S dollar as crude, nat gas, gold and silver futures weaken.
Closing prices on Monday show Canola futures up amid higher volumes while wheat and related grains move mixed. Notable markers include Canola June up to 1.40, March at 0.80, and May 0.10 down. several other months show small gains or losses with volumes around 4,000 tonnes.
Canadian National Railway and the Teamsters Canada Rail Conference announced a tentative deal to renew the contract for about 1 800 locomotive engineers. Ratification by union members is expected in about 60 days, with details withheld until then. CN executive Keith Creel praised reaching an accord before expiry. Rex Beatty credited mediation and intense negotiations for the breakthrough.
The National Energy Board analysis shows injury rates on federally regulated pipelines dropped from 1.00 per 100 workers in 2008 to 0.93 in 2009, a near 40 percent improvement. The report notes no fatalities in 2004, down from two in 2000.
Bank of Canada governor Mark Carney told a Toronto business group that advanced economies face a massive deleveraging challenge. He argued Canada’s lower debt, strong banks, and cash-rich firms create a window to invest, boost productivity, and profit from elevated commodity prices amid a global debt deflation risk. He warned Europe and the U.S. face austerity and potential instability if deleveraging falters.
Encana Corp says the EPA draft report linking hydraulic fracturing to Wyoming groundwater contamination contains serious flaws. The firm urges independent third party review before any conclusions are trusted, arguing the findings are conjecture not fact.
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