CA-BUSINESS Summary

TSX slips as gold, energy shares drag

TORONTO (Reuters) - Canada's main stock index turned lower in early Tuesday trade, with weakness in commodity prices weighing on shares of gold and energy companies, as weak economic data from China and Germany dampened investor sentiment. The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> was down 22.83 points, or 0.19 percent, at 12,067.85, after opening higher.

Manufacturing data stokes fears of global spring swoon

NEW YORK/LONDON (Reuters) - Major economies in North America, Europe and Asia lost some momentum this month, a clutch of business surveys showed on Tuesday, raising concerns about the strength of the global recovery. China and Germany, the world's biggest exporters, both lost momentum in April. Growth in Chinese factories slowed to a crawl as export demand dwindled, while the euro zone's largest economy saw business activity decline for the first time in five months.

Canadian February retail sales rise more than expected

OTTAWA (Reuters) - Canadian retail sales in February rose a greater-than-expected 0.8 percent from January, pushed up by higher sales at general merchandise stores and gas stations, Statistics Canada data indicated on Tuesday. The increase was greater than the 0.3 percent advance predicted by market operators. Statscan trimmed January's growth to 0.9 percent, from an initial 1.0 percent.

NTSB looks for cause, larger lessons in Boeing 787 battery fire

WASHINGTON (Reuters) - The top U.S. transportation safety regulator is looking beyond what caused a Boeing Co Dreamliner battery to fail in January at larger lessons that can be applied to the airplane certification process and new technologies. A two-day hearing at the National Transportation Safety Board headquarters in Washington that began on Tuesday is part of the agency's investigation into what caused a battery to catch fire and burn on a parked 787 Dreamliner in Boston in January. The battery fire occurred after passengers had deplaned, and workers noticed smoke in the cabin. It took firefighters more than an hour to put the fire out.

Bank of Canada repeats language on higher interest rates

OTTAWA (Reuters) - Outgoing Bank of Canada Governor Mark Carney on Tuesday repeated the central bank's warning that it expects its next move to be an interest rate increase, even after recently cutting growth forecasts. "The considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2 per cent inflation target," he told a Canadian parliamentary committee.

Global survey reveals unhappiness with retail banks

LONDON (Reuters) - Banks have made little progress in improving customer service over the past year, with around a half of their retail customers considering switching to a rival, according to a survey published on Tuesday. The 2013 World Retail Banking Report from Capgemini , which polls over 18,000 retail banking customers in 35 countries, found that 41 percent of customers were unsure if they would stay with their bank in the next six months, while an additional 10 percent indicated that they would leave.

TransAlta posts loss on pension funding

(Reuters) - Canadian power generation company TransAlta Corp reported a first-quarter loss, hurt in part by a one-time charge related to pension funding obligations. The company posted a loss of C$11 million, or 4 Canadian cents per share, in the first quarter, compared with a profit of C$88 million, or 39 Canadian cents per share, a year earlier.

Encana operating profit falls on hedging losses

(Reuters) - EnCana Corp , Canada's No.1 natural gas producer, reported a 25 percent fall in first-quarter operating profit due to hedging losses. Encana's net operating income, which excludes most one-time items, fell to $179 million, or 24 cents per share, in the first quarter, from $240 million, or 33 cents per share, a year earlier.

Euro zone slump moderates but German worries appear: PMIs

LONDON (Reuters) - A sharp drop in German business activity overshadowed an easing downturn in France in April, surveys showed on Tuesday, raising concerns over a further economic contraction in the euro zone. Markit's flash euro zone services PMI, an early gauge of business activity each month, rose to 46.6 in April from 46.4 in March, below the 50 line that divides growth from contraction but matching the forecast of economists.

Xerox steps up restructuring, second-quarter EPS goal below Street

(Reuters) - Xerox Corp on Tuesday forecast second-quarter earnings below estimates as it accelerates its restructuring efforts to become a broader technology company. In an attempt to counter sluggish growth in its technology business, which includes printers and copiers, Xerox has been transforming itself into a business services provider, offering services such as managing toll systems and healthcare programs.

Source: http://news.yahoo.com/ca-business-summary-114755430.html

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