No alternative to F-35 fighter jet, US, Canada say
HALIFAX, Nova Scotia (Reuters) - Defense chiefs from the United States and Canada said on Friday that budgetary pressures would not derail development of the F-35 Joint Strike Fighter, saying there was no real alternative to what has become the Pentagon's costliest weapons program. U.S. Defense Secretary Leon Panetta said flatly he was confident Congress would approve funding for the F-35, which is facing fresh scrutiny for possible cuts as lawmakers weigh how to scale back the U.S. deficit.
Inflation eases but rate cut seen less likely
OTTAWA (Reuters) - Canada's annual inflation rate moderated in October from a near three-year high in September but was still higher than expected, scaling back market bets for a central bank interest rate cut. The consumer price index (CPI) rose 2.9 percent in October from a year earlier, easing from 3.2 percent in September as gasoline prices rose at a slower year-on-year pace, Statistics Canada said on Friday.
Canada's Asian oil push not a slap to U.S.: minister
TORONTO (Reuters) - Canada is looking to diversify the market for oil sands crude by courting buyers in Asia, and is not trying to punish the United States for delaying TransCanada Corp's Keystone XL pipeline to Texas, the country's natural resources minister said on Friday. Ottawa officials including Prime Minister Stephen Harper and Natural Resources Minister Joe Oliver have spent the past few weeks traveling to Asia, partly to sell China and other countries on the idea of buying oil from Canada.
Canada, Mexico defeat USA in WTO meat ruling
GENEVA (Reuters) - Canada and Mexico won a trade case against a U.S. law on meat labeling at the World Trade Organization on Friday. A WTO dispute panel agreed with their complaint that U.S. mandatory labeling laws were too stringent, giving U.S. cattle and hog sales an unfair advantage over imports from Mexico and Canada.
Older Canadians to carry mortgages into 70s: poll
TORONTO (Reuters) - A third of older Canadians will be paying off their homes until their 70s or even later, well past the age they hope to retire, according to a poll by Royal Bank of Canada released on Thursday. The survey by Canada's largest lender showed that while nearly 72 percent of Canadians hope to mortgage-free by the time they are 65 years old, 33 percent of those over the age of 55 still have 16 years or more on their mortgage term.
Canadian health system too expensive: report
TORONTO (Reuters) - Canada's public healthcare system is becoming too expensive but could offer better value without drastic cuts or abandoning its state-funded structure, one of the country's most influential economists said on Thursday. Changes needed include more treatment of patients outside of hospitals - through family doctors and home care, for example - and by offering more private services paid for by the public purse, said Don Drummond, a former Toronto-Dominion Bank chief economist and federal finance official.
Honda to start manufacturing CR-Vs in Canada
(Reuters) - Honda Motor Co's Canadian unit will start manufacturing its CR-V compact sport-utility vehicle in Canada early next year, Japan's No. 3 automaker said on Thursday. Honda will produce its new model 2012 CR-V destined for sale in Canada at its manufacturing plant in Alliston, Ontario, north of Toronto. Until now, CR-Vs for North America were built at the company's East Liberty plant in Ohio.
Oil sands opponents "treacherous": Canadian environment minister
OTTAWA (Reuters) - In a sign of the strain the Canadian government is feeling over development of the tar sands, Environment Minister Peter Kent said on Wednesday that opposition legislators who campaigned in Washington against the idea were treacherous. The right-of-center Conservative government was taken aback last week when the U.S. administration delayed approval of TransCanada Corp's proposed Keystone XL pipeline designed to carry crude from the vast Alberta oil sands to refineries in Texas.
Canadian pork producers fear loss of Korea trade
OTTAWA (Reuters) - Canada's pork producers could lose C$300 million ($295 million) a year in exports to South Korea unless Ottawa relaunches stalled talks on a free trade deal, the industry said on Thursday. South Korea, which charges tariffs of up to 25 percent, takes 10 percent of Canada's pork exports. Major producers fear this will shrink when a free trade deal that Seoul has signed with the United States takes full effect in 2016.
Canada worried by reports of F-35 fighter delays
OTTAWA (Reuters) - Canada is worried by reports that delivery of Lockheed Martin Corp's F-35 fighter jets could be delayed and is talking to the manufacturer, Defense Minister Peter MacKay said on Wednesday. Canada says it plans to buy 65 of the jets, which in theory will start arriving in 2016. It has not yet signed a binding contract.
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