CA-BUSINESS Summary

TSX extends gains as financials offset gold dip

TORONTO (Reuters) - Canada's main stock index rose for the fourth straight session on Tuesday as strength in the financial sector helped offset weakness in shares of gold producers. The gains were kept in check by weak economic data from Germany and China.

Bank of Canada's Macklem confirms interest in governor role

OTTAWA (Reuters) - Tiff Macklem, currently second in command at the Bank of Canada and widely seen as the lead contender to succeed Governor Mark Carney, confirmed on Tuesday that he would be interested in running the central bank. "Yes if asked I will serve, but there is a process that is ongoing and I don't think it would be appropriate to start asking interview questions here when there is a separate process," Macklem told a House of Commons committee, when asked if he would take the job.

AP says Twitter hacked after false report of White House explosions

WASHINGTON (Reuters) - Hackers took control of the Associated Press Twitter account on Tuesday and sent a false tweet of two explosions in the White House that briefly shook U.S. stock markets. AP spokesman Paul Colford told Reuters that the message, which also said U.S. President Barack Obama was injured, was "bogus" but did not immediately provide more details.

Chesapeake, Bank of New York, square off in bond trial

NEW YORK (Reuters) - Chesapeake Energy Corp began an expedited trial on Tuesday against Bank of New York Mellon Corp over the energy company's effort to redeem $1.3 billion of notes at par. The proceeding in Manhattan federal court comes less than two months after Chesapeake sued the bank, the trustee for the bonds, seeking to prevent it from interfering with the redemption.

CN Railway says sector-leading efficiency on track

TORONTO (Reuters) - Canadian National Railway , the country's largest rail carrier, said on Tuesday that its industry-leading operating efficiency is sustainable, based on its view of revenue growth and productivity. Speaking at the company's annual general meeting in Edmonton, Alberta, Chief Financial Officer Luc Jobin said that CN reported a 2012 operating ratio of 62.9 percent.

Celestica expects revenue to improve in current quarter

(Reuters) - Canadian contract electronics manufacturer Celestica Inc forecast stronger revenue for the current quarter as new contracts help to make up for the loss of former No.1 customer BlackBerry . Shares of Celestica, which reported a 76 percent fall in first-quarter profit on Tuesday, were up 6 percent at C$8.27 in early afternoon trading on the Toronto Stock Exchange.

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, business surveys showed on Tuesday, a development that may see central banks intensify efforts to revive a flagging global recovery. China and Germany, the world's biggest exporters, both lost a step 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.

Corzine sued by MF Global trustee over firm's collapse

(Reuters) - Jon Corzine was sued by the bankruptcy trustee liquidating MF Global Holdings Ltd , who accused the former chief executive of negligently pursuing a high-risk business strategy that culminated in the commodities brokerage's destruction. The trustee, Louis Freeh, said in the lawsuit that Corzine and two top deputies overhauled MF Global's business without addressing "systemic weaknesses" in oversight and monitoring.

Factory data a new sign of slowing U.S. economic growth

WASHINGTON (Reuters) - Factory activity expanded at its slowest pace in six months in April, the latest sign that economic growth continued to lose momentum early in the second quarter, though the recovery has not been derailed. Even as the economic picture has dimmed in recent weeks as the effects of government austerity started to filter through, strength in the housing market has provided an anchor.

NTSB seeks larger lesson in Boeing 787 battery fire

WASHINGTON/NEW YORK (Reuters) - The top U.S. transportation safety agency 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 delved into what Boeing and the Federal Aviation Administration knew about volatile lithium-ion batteries when they proposed them for use on the Dreamliner, and how they addressed the risks.

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

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