Sherritt International Corporation News

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1. 3/23/2012 8:00:00 PM Special report: Cuba: The economy: Edging towards capitalism
   published by Economist, The
   GISELA NICOLAS AND two of her friends wanted to set up an events-catering company, but that is not one of the 181 activities on the approved list for those who work por cuenta propia, so in May 2011 they opened a restaurant called La Galeria. With 50 covers, it is a fairly ambitious business by Havana standards. There are no wholesalers in Cuba, so all supplies come from...
   
2. 3/22/2012 10:40:00 AM Features: Only 44 pct of Madagascar population has access to water
   published by Xinhua News Agency
   ANTANANARIVO, March 22-- Only 44 percent of 21 millions habitants in Madagascar have access to drinking water, an official of an NGO WaterAid said here on Thursday. Only 48 percent of the 21 millions habitants in Madagascar have access to sanitation while only 7 percent of Malagasy people have access to sanitation following international standard, the...
   
3. 3/22/2012 12:01:00 AM Triathletes colour it purple
   published by Frome & Somerset Standard
   Frome Triathlon Club members donned purple buffs at Sunday's Endura Trek Lionheart Sportive to mark Positive Action on Cancer's Splash of Purple appeal. Roland Kelly followed in 6:17: 09, with Mark Poole finishing in 7:42: 39.. In the 100 km event, Frome TC's Monique Bianchi was second in the ladies' standings with a time of 4:06: 07. The other Frome finishers were...
   
4. 3/16/2012 12:01:00 AM Govt buys time on Trivedi
   published by Pioneer, The
   Railway Minister Dinesh Trivedi's days in the Government are numbered, but the Trinamool Congress and Government are battling over the timing of his departure from Rail Bhavan for TC's new nominee Mukul Roy. Upset with Trivedi for proposing hike in passenger fares in the Railway Budget, Trinamool Congress chief Mamata Banerjee wanted him to be dropped soon...
   
5. 3/15/2012 4:39:00 PM Rising commodities, solid U.S. economic data supports Toronto stock market
   published by Associated Press
   TORONTO _ The Toronto stock market racked up a solid gain Thursday as further evidence that the U.S. economy is continuing its slow but steady revival sparked gains across most sectors. The S&P/TSX composite index rose 77.92 points to 12,455.82 while the TSX Venture Exchange added 7.17 points to 1,601.52. The Nasdaq composite index gained 15.64 points to...
   
6. 3/15/2012 12:08:00 PM Owner: TC's will 'make comeback' after bar blaze
   published by Boston Herald (MA)
   It's going to be tough, but we'll make a comeback, "said Anthony Consalvi Jr., owner of TC's Lounge on Haviland Street. The fire at TC's Lounge came about an hour and a half before the catastrophic transformer fire that blacked out the Back Bay, Boston Fire Department spokesman Steve MacDonald said. Firefighters backing their engines into the firehouse after...
   
7. 3/14/2012 11:59:00 PM Owner: TC's will 'make comeback' after bar blaze
   published by Boston Herald (MA)
   It's going to be tough, but we'll make a comeback, "said Anthony Consalvi Jr., owner of TC's Lounge on Haviland Street. The fire at TC's Lounge came about an hour and a half before the catastrophic transformer fire that blacked out the Back Bay, Boston Fire Department spokesman Steve MacDonald said. Firefighters backing their engines into the firehouse after...
   
8. 3/14/2012 12:00:00 AM Government bonds simply too expensive
   published by National Post
   Government bonds simply too expensive National Post MANAGER PROFILEManager Christine Horoyski Aurion Capital ManagementFunds Aurion Income Opportunities FundDynamic Aurion Total Return Bond FundDescription Diversified portfolio of fixed income securities particularly investment grade corporate bondsFirms AUM 61 billionPerformance 1 year 112 Aurion Income Opportunities Fund as of Jan 31 2012Management fee 085 of NAV Class APerformance fee 10 of excess positive return above DEX IndexDespite recent good news out of Europe and North America investors appear to be maintaining a hedge against another macro shock such as higher oil prices by staying invested in the presumably safe bond markets of Canada the United States and GermanyBut Christine Horoyski head of fixed income at Aurion Capital Management considers the low yielding government bond market expensive As a result she and her colleagues Derek Johnson and Nicole White are maintaining an underweight positionGovernment yields on terms under five years yield less than 1 reflecting the view that policy rates are on hold for the next two years Horoyski saidThey hold little value for investors other than as an insurance hedgeYields on longer term government bonds are also low in the 2 to 3 range However Horoyski notes they have significantly more price volatility than shorter dated bonds presenting a trading opportunityThere have been 11 occasions since fall 2011 where buying long bonds would have produced price gains of more than 3 in the span of about a week The trading range remains intact so I remain an active buyer and seller of government bonds Horoyski saidSince credit conditions have normalized to a large extent the manager expects both corporate and high yield bonds to reflect a more typical riskreturn trade offCorporate bonds remain attractive based on the excess yield over government bonds credit fundamentals and an improving economy she said adding she anticipates their returns in 2012 will be similar to current yields of 4 to 7The excess yield of corporate bonds will continue to provide a margin of safety against rising bond yields and the continued demand for income in a low yield environment is supportive of this portion of the fixed income marketsAs a.
   
9. 3/7/2012 7:56:00 PM Q4 2011 Sherritt International Corporation Earnings Conference Call - Final
   published by FD (Fair Disclosure) Wire
   Welcome to the Sherritt International Q4 2011 analyst and investor call. Paula Myson, Managing Director for Investor Relations and External Communications. PAULA MYSON, MANAGING DIRECTOR, IR AND EXTERNAL COMMUNICATIONS, SHERRITT INTERNATIONAL CORPORATION: Thank you, Ron, and good afternoon, everyone.
   
10. 3/2/2012 12:00:00 AM Business briefs
    published by Postmedia News
    Business briefs Postmedia News MONTREAL National Bank of Canada the countrys sixth largest lender would consider domestic personal and commercial bank acquisitions chief financial officer Ghislain Parent said Friday On the P&C side we could look at something if it came up Parent told investors on a conference call We dont have any interest outside of Canada at the momentNational Bank based in Montreal said after market close Thursday it had record profit of 334 million or 2 a share for the quarter ended Jan 31 as domestic banking improved The lender would look at acquisitions after the current fiscal quarter is complete Parent said Friday in a telephone interviewThe bank is in the execution and consolidation phase of its wealth management acquisitions he said Among the deals is the investment advisory business it purchased in January from HSBC Holdings PLC for 206 millionNational Bank has purchased at least three loan portfolios to bolster its personal and commercial business in the last decadeBloombergTransAlta quarterly profit dropsCALGARY TransAlta Corp Canadas largest publicly traded electricity producer reported a 74 per cent decline in fourth quarter profit on FridayNet income fell to 24 million or 11 cents a share from 92 million or 42 cents a share in the year earlier period Calgary based TransAlta saidExcluding a loss related to MF Global Holdings Ltds bankruptcy and other one time items profit was 11 cents below the average of nine analysts estimates compiled by BloombergTransAlta Canadas largest wind power operator is preparing to phase out coal burning plants in the coming decadesBloombergCameco to buy Areva stake in Athabasca Basin uranium projectVANCOUVER Cameco Corp the worlds largest uranium producer agreed to buy Areva SAs 30 per cent stake in the Millennium mining project for 150 million to extend its reserves in Canadas Athabasca BasinThe acquisition of the 30 per cent interest will lift Camecos ownership of Millennium to about 70 per cent the Saskatoon based company said FridayThe deal is subject to Millenniums third shareholder JCU Canada Exploration Co exercising its first right of refusal Cameco said Should JCU do so it would end up with 42 per cent of the project and Cameco 58 per cent JCU is owned by a group of Japanese companies said Gord Struthers a Cameco spokesmanThe Athabasca Basin is home to the worlds richest uranium deposits including Camecos McArthur River mine Cameco said Feb 9 it plans to produce 217 million pounds of uranium this year and increase output to 40 million pounds by 2018BloombergSherritt seeks Cuba nickel boostTORONTO Sherritt International Corp a Canadian mining company is turning its attention to expanding its nickel joint venture with the Cuban government as a 55 billion mine in Madagascar nears startupAnnual production capacity at the Moa venture in the communist nation may be boosted 21 per cent to 46000 tons of nickel and cobalt from about 38000 tons chief executive David Pathe said in a Feb 29 interview at Sherritts Toronto headquarters The plan would help lower overall costs at the Cuban unit he saidPathe said hes looking for ways to expand operations and may consider acquisitions as the company prepares to start production at the Ambatovy nickel and cobalt mine in Madagascar after about four years of construction Sherritt owns 40 per cent of Ambatovy and operates the project After a long stretch we are finally to the point where we are going to be putting that project development process behind us Pathe said We are focusing now on what we do next and where growth is going to come fromReutersMiners hopeful of emerging from a late 2011 funkTORONTO Detour Gold last month sold 277 million of equity to investors willing to bet on its promising gold project a hefty sum that bankers say the Canadian company would have struggled to raise barely two months earlierDetours success in raising funds is one of many small signs that the malaise that gripped miners explorers and investors in late 2011 is easing A brighter economic outlook has brought a ray of optimism back to the global mining sector which gathers next week in Toronto for its biggest convention of the yearWhile stresses still weigh heavily on the world financial system a batch of decent US economic data and easing concerns about a slowdown in China have breathed fresh life into mining stocks that tumbled last year If I compare right now to lets say the latter part of 2011 generally executives are more positive now said Egizio Bianchini co head of metals and mining at BMO Capital Markets The often overused phrase cautiously optimistic is probably one that can be used now and I think thats where people are at Bianchini said in an interview before the annual Prospectors and Developers Association of Canada convention The event known simply as PDAC opens Sunday in TorontoUNITED STATESReutersYelp shares soar on market debutNEW YORK Consumer review website Yelp Incs shares traded more than 60 per cent above their initial public offering price in their market debut on Friday as investors rushed to buy a piece of the growing local advertising marketYelps shares were up as much as 62 per cent at 2460 US at one point Friday At that level the company is valued at about 143 billion US about 17 times its 2011 revenueOn Thursday Yelp had priced its IPO at 15 US a share above its indicated.
    
11. 2/29/2012 3:01:00 AM The Canadian Press News Agenda for Wednesday, Feb. 29
    published by Canadian Press DataFile
    CHICAGO _ Alberta Premier Alison Redford meets with union leaders. x- HALIFAX _ Nova Scotia public accounts committee meets to discuss the 2012 report of the auditor general. HALIFAX _ Nova Scotia Premier Darrell Dexter attends leader's levee.
    
12. 2/29/2012 3:01:00 AM The Canadian Press News Agenda for Wednesday, Feb. 29
    published by Associated Press
    CHICAGO _ Alberta Premier Alison Redford meets with union leaders. x- HALIFAX _ Nova Scotia public accounts committee meets to discuss the 2012 report of the auditor general. HALIFAX _ Nova Scotia Premier Darrell Dexter attends leader's levee.
    
13. 2/29/2012 12:01:00 AM Advisory-Central-Canada-Calendar
    published by Broadcast Wire
    Here is the Central Canada calendar for Wednesday, February 29, 2012. Good Morning from the Ontario Desk of The Canadian Press in Toronto. MONTREAL _ Trucking company TransForce Inc. discusses fourth-quarter and full-year results.
    
14. 2/29/2012 12:01:00 AM The Canadian Press News Agenda for Wednesday, Feb. 29
    published by Broadcast Wire
    CHICAGO _ Alberta Premier Alison Redford meets with union leaders. x- HALIFAX _ Nova Scotia public accounts committee meets to discuss the 2012 report of the auditor general. HALIFAX _ Nova Scotia Premier Darrell Dexter attends leader's levee.
    
15. 2/28/2012 2:41:00 PM The Canadian Press News Agenda for Wednesday, Feb. 29
    published by Canadian Press DataFile
    CHICAGO _ Alberta Premier Alison Redford meets with union leaders. x- HALIFAX _ Nova Scotia public accounts committee meets to discuss the 2012 report of the auditor general. HALIFAX _ Nova Scotia Premier Darrell Dexter attends leader's levee.
    
16. 2/28/2012 2:41:00 PM The Canadian Press News Agenda for Wednesday, Feb. 29
    published by Associated Press
    CHICAGO _ Alberta Premier Alison Redford meets with union leaders. x- HALIFAX _ Nova Scotia public accounts committee meets to discuss the 2012 report of the auditor general. HALIFAX _ Nova Scotia Premier Darrell Dexter attends leader's levee.
    
17. 2/25/2012 12:01:00 AM Coalspur banks on UBS to find partner
    published by Australian, The
    The investment bank has been mandated by ASX-listed Coalspur Mines to find a strategic partner for its Vista coal project in Canada's Alberta province, two sources told Deal Journal Australia yesterday. Last month, Deal Journal Australia reported US coal giant Peabody Energy had hired the bank to find a buyer for its Wilkie Creek coalmine in NSW.
    
18. 2/23/2012 1:58:00 PM The Canadian Press News Look-Ahead for Feb. 26-March 3
    published by Canadian Press DataFile
    EDITORS: Following is a list of news events for Sunday, Feb. 26 to Saturday, March 3, 2012 as of 12:43 p.m. ET: x-denotes wire, y-denotes picture, z-denotes graphics coverage. Photo-op at 10:30 a.m. Flaherty and Bank of Canada Governor Mark Carney hold a press conference at 4:45 p.m.. TORONTO _ The Canadian International AutoShow.
    
19. 2/23/2012 1:58:00 PM The Canadian Press News Look-Ahead for Feb. 26-March 3
    published by Associated Press
    EDITORS: Following is a list of news events for Sunday, Feb. 26 to Saturday, March 3, 2012 as of 12:43 p.m. ET: x-denotes wire, y-denotes picture, z-denotes graphics coverage. Photo-op at 10:30 a.m. Flaherty and Bank of Canada Governor Mark Carney hold a press conference at 4:45 p.m.. TORONTO _ The Canadian International AutoShow.
    
20. 2/23/2012 12:01:00 AM The Canadian Press News Look-Ahead for Feb. 26-March 3
    published by Broadcast Wire
    EDITORS: Following is a list of news events for Sunday, Feb. 26 to Saturday, March 3, 2012 as of 12:43 p.m. ET: x-denotes wire, y-denotes picture, z-denotes graphics coverage. Photo-op at 10:30 a.m. Flaherty and Bank of Canada Governor Mark Carney hold a press conference at 4:45 p.m.. TORONTO _ The Canadian International AutoShow.
    
21. 2/22/2012 6:42:00 PM Business News as of 6 p.m. ET
    published by Associated Press
    Here are the top Business News stories from The Canadian Press as of 6 p.m. All times Eastern unless otherwise stated. Air Canada baggage handlers reject deal. MONTREAL _ Air Canada dispatchers ratified a new contract, but baggage handlers, ground crews and maintenance workers have rejected a tentative deal signed earlier this month with Canada's biggest...