CA-BUSINESS Summary

Golds, banks pull TSX lower on weak data, Cyprus; RIM gains

TORONTO (Reuters) - Canada's main stock index fell on Thursday, led by declines in gold shares that followed the bullion price lower and in financial stocks, as weak U.S. economic data and worries about spillover effects of the Cyprus crisis deepened investor gloom. A rise in BlackBerry after the smartphone maker reported a surprise quarterly profit offset some of the losses.

Canada economy rebounds in January after weak spell

OTTAWA (Reuters) - Canada's economy bounced back in January with 0.2 percent growth following the weakest two quarters since the 2008-09 recession thanks to solid manufacturing, mining and an end to a work stoppage in professional ice hockey, Statistics Canada said on Thursday. Analysts surveyed by Reuters had expected a 0.1 percent increase in monthly gross domestic product following a 0.2 percent decline in December.

BlackBerry posts surprise profit, but subscriber base down

TORONTO (Reuters) - BlackBerry reported a surprise quarterly profit on Thursday and said it shipped 1 million of its all-new Z10 smartphones in the period, but the company has yet to convince some investors that its turnaround plan is succeeding. The Canadian smartphone maker's shares were up nearly 2 percent in early trading, but had jumped of more than 10 percent immediately after the results came out. Some investors focused on a decline in the company's subscriber base, a possible threat to its long-term growth prospects.

Patient Cypriots line up as banks reopen

NICOSIA (Reuters) - Cypriots lined up at banks as they reopened on Thursday under tight controls imposed on transactions, but there was no sign of a run on deposits that had been feared after the government was forced to accept a stringent EU rescue package. Banks were shut almost two weeks ago as the government negotiated a 10 billion euro ($13 billion) international bailout to avert a national bankruptcy, the first in Europe's single currency zone to impose losses on bank depositors.

Boeing CEO confident that 787 battery fix will work

(Reuters) - Boeing Co has high confidence the proposed fix for the lithium-ion batteries on its grounded 787 passenger jet will work, Chief Executive Officer Jim McNerney said on Thursday. The grounding has been a "frustrating experience," McNerney told a U.S. Chamber of Commerce aviation summit. (For event video, click: http://link.reuters.com/juf96t )

Total to book $1.65 billion first-quarter loss on Canada project exit

PARIS (Reuters) - Total will book a $1.65 billion first-quarter loss on its withdrawal from a long-delayed oil sands project in Canada, it said on Thursday, a day after partner Suncor pulled the plug on the plant citing lower potential returns. French oil major Total said it has sold its 49 percent stake in the Voyageur Upgrader project in northern Alberta to Canada's largest oil company Suncor Energy , which holds the remaining 51 percent, for $500 million.

Bank of Canada searches far and wide for Carney's successor

OTTAWA (Reuters) - The search for a new Bank of Canada chief to replace Mark Carney has pitted internal front-runner Tiff Macklem against a range of external candidates as officials look outside the bank for people who may have more hands-on business experience. Most central bank watchers believe Macklem, currently second-in-command at the bank, has outstanding credentials and deserves to take over when his boss leaves.

Global stocks, euro gain as Cyprus banks reopen

NEW YORK (Reuters) - Major stock markets recovered and the euro edged off a four-month low on Thursday, as banks in Cyprus reopened to relative calm following the island's controversial bailout. On Wall Street, stocks moved in and out of positive territory in choppy, pre-holiday trade. <.n/>

Exclusive: Wal-Mart may get customers to deliver packages to online buyers

SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc is considering a radical plan to have store customers deliver packages to online buyers, a new twist on speedier delivery services that the company hopes will enable it to better compete with Amazon.com Inc . Tapping customers to deliver goods would put the world's largest retailer squarely in middle of a new phenomenon sometimes known as "crowd-sourcing," or the "sharing economy."

Analysis: Austerity threatens EU's competitive edge in infrastructure

BERLIN (Reuters) - Europe's carefully maintained autobahns, high-speed TGV trains and vast network of modern airports have long been the envy of the world. But thanks to austerity budgets that are slashing infrastructure spending just as other parts of the world are ramping it up, that may not be true for much longer.

Source: http://news.yahoo.com/ca-business-summary-004845905--finance.html

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