CA-BUSINESS Summary

TSX hit by resources issues, BlackBerry

TORONTO (Reuters) - Canada's main stock index fell for the first time in four sessions on Thursday as energy and mining stocks were hurt by declining prices and weak investor sentiment, while BlackBerry plunged on doubts about the company's recovery plan. The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> fell 53.54 points, or 0.43 percent, to 12,481.37.

RBC CEO apologizes for controversy over outsourcing

TORONTO (Reuters) - The head of Royal Bank of Canada made a rare apology to employees in a move to quell a media firestorm over the bank's plan to outsource jobs and to assure Canadians that the nation's largest bank complies with labor regulations. "I want to apologize to the employees affected by this outsourcing arrangement as we should have been more sensitive and helpful to them," RBC Chief Executive Gord Nixon said in an "Open Letter to Canadians" on Thursday.

Canada's Astral, Corus profits, shares take divergent paths

TORONTO (Reuters) - Two of Canada's biggest independent media companies handed in very different earnings report cards on Thursday, with profits at Corus Entertainment Inc plunging 81 percent while rival Astral Media Inc reported a 9 percent jump in earnings. Shares of Corus plunged 5 percent, while shares of Astral were little changed.

Canada new housing prices up 0.2 percent on strength in Calgary

OTTAWA (Reuters) - New home prices in Canada rose by 0.2 percent in February, the 23rd consecutive month-on-month increase, pushed up by a buoyant market in the western city of Calgary, Statistics Canada said on Thursday. The advance matched analysts' expectations. Calgary prices rose 1.0 percent from January - the largest month-over-month increase since May 2007 - on higher material and labor costs. Calgary is the center of Canada's booming energy industry.

Martha Stewart loses bid to dismiss Macy's contract claim

NEW YORK (Reuters) - Martha Stewart's company lost a bid on Thursday to dismiss Macy's Inc's claim that it violated their contract when it designed certain products for J.C. Penney Co Inc , even if the products do not carry the Martha Stewart brand. New York State Supreme Court Justice Jeffrey Oing's ruling may affect whether J.C. Penney can sell Martha Stewart-designed home goods in bedding, bath and cookware under a "JCP Everyday" label.

BlackBerry tumbles as analysts rekindle turnaround doubts

TORONTO (Reuters) - Shares of BlackBerry slipped about 8 percent on Thursday as analysts questioned whether the handset maker's turnaround plan would succeed in the brutally competitive smartphone market. Discounting of the Z10, its recent handset meant to take on the likes of Apple Inc's iPhone and Samsung Electronics Co Ltd's Galaxy line, has also raised concerns, according to one trader.

U.S. charges ex-KPMG auditor in tips-for-cash scheme

NEW YORK (Reuters) - Authorities on Thursday filed criminal and civil charges against a former KPMG senior auditor who is accused of passing non-public information about five of KPMG's corporate clients to a golfing buddy who traded on the tips. Prosecutors charged Scott London, the Los Angeles-based auditor, with one count of conspiracy to commit securities fraud for giving Brian Shaw, a jeweler, information about public companies including, Herbalife , Skechers and Deckers Outdoor Corporation .

Qatar Airways hopes its Dreamliners back in service in April

CHICAGO (Reuters) - Qatar Airways Chief Executive Officer Akbar Al Baker said he hopes that all five of the airline's Boeing Co 787s will be back in service by the end of April, a date sooner than other airlines have suggested. Baker said he was confident Boeing's fix for the battery system that overheated on two planes in January would work. He said if it were not the right fix, the Federal Aviation Administration would not have approved testing of the fix.

Japan carmakers recall 3.4 million vehicles for Takata airbag flaw

TOKYO/DETROIT (Reuters) - Four Japanese automakers, including Toyota Motor Corp and Nissan Motor Co , are recalling 3.4 million vehicles sold around the world because airbags supplied by Takata Corp are at risk of catching fire or injuring passengers. The move announced on Thursday is the largest recall ever for airbags made by Takata, the world's second-largest supplier of airbags and seatbelts. Shares of Takata, which first learned of the issue in October 2011, tumbled almost 10 percent in Tokyo trading.

Exclusive: Apax, Morgan Stanley look to sell Hub - sources

NEW YORK (Reuters) - Buyout firm Apax Partners and Morgan Stanley's private equity arm are exploring a sale of Chicago-based insurance brokerage Hub International that could be valued at around $2 billion, two people familiar with the matter said this week. The potential sale of Hub would come six years after Apax and Morgan Stanley Principal Investments took the company private for $1.8 billion, including $145 million of debt.

Source: http://news.yahoo.com/ca-business-summary-003146398--finance.html

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