CA-BUSINESS Summary

TSX up on energy and industrials; BlackBerry falls

TORONTO (Reuters) - Toronto's main stock index rose on Tuesday, as energy and industrial stocks rose in tandem with gains in U.S. stocks, more than offsetting pullbacks in key stocks such as BlackBerry and Bombardier Inc . Energy stocks, which suffered steep losses in April, rose 0.67 percent despite a retreat in the price of oil, helped by the continued momentum in U.S. stock indexes.

Boeing resumes deliveries of 787 Dreamliners

NEW YORK (Reuters) - Boeing Co resumed deliveries of its high-tech 787 Dreamliner jet on Tuesday, ending a period of nearly four months in which it was unable to provide new planes to customers because of safety concerns about the battery system. The delivery of the first jet with a redesigned battery system marks a turning point in Boeing's 787 crisis, allowing the jet maker to book revenue for completed sales of the jet, which costs $207 million at list prices.

Exclusive: EU to warn China it may levy duties against Huawei - sources

BRUSSELS (Reuters) - The European Commission plans to send a formal warning to China that it is ready to levy sanctions against telecoms equipment makers Huawei and ZTE Corp over illegal subsidies, people close to the matter said. EU trade chief Karel De Gucht is set to win support from the bloc's executive on Wednesday to send the warning letter and show China's new president, Xi Jinping, that Brussels is serious about countering what it says is state support.

Two unions seek to combine in American, US Air merger

(Reuters) - Two unions that represent ground workers at American Airlines and US Airways Group said on Tuesday they would combine to become the bargaining agent for nearly 30,000 employees after the airlines merge. The move comes as the International Brotherhood of Teamsters, a third union, seeks to represent mechanics at US Airways.

Canadian house prices edge higher in April

TORONTO (Reuters) - Canadian home prices rose in April from March as three strong cities in Western Canada more than offset weak showings elsewhere, while the annual gain in prices slowed, the Teranet-National Bank Composite House Price Index showed on Tuesday. The index, which measures price changes for repeat sales of single-family homes, showed overall prices rose 0.2 percent in April from a month earlier, but the weakest April gain in 15 years except for the 2009 recession.

Big Sony options action before Loeb stake raises eyebrows

(Reuters) - A surge in option market bets on Sony Corp just before a large hedge fund investor announced a big stake and called for a major restructuring of the company has raised concerns that some traders may have had advance word of the news. U.S.-listed shares of Sony Corp jumped 9.9 percent to close at $20.76 after Daniel Loeb's Third Point hedge fund said on Tuesday it accumulated more than 6 percent of Sony's shares - a stake worth $1.1 billion - making it the largest shareholder in Japan's biggest electronics company.

EU probes oil majors on price manipulation

LONDON/OSLO (Reuters) - European authorities have raided offices of oil majors Shell, BP and Statoil in an investigation of suspected manipulation of oil prices, one of the biggest cross-border actions since the Libor rigging scandal. Authorities have sharpened scrutiny of financial benchmarks around the world since slapping large fines on some of the world's biggest banks for rigging interest rate benchmarks.

Fraud claims versus Goldman over Abacus CDO are dismissed

NEW YORK (Reuters) - Goldman Sachs Group Inc won dismissal on Tuesday of fraud claims brought by a bond insurer over a CDO tied to subprime mortgage securities called Abacus. In a 3-2 decision, a New York state appeals court dismissed a complaint by ACA Financial Guaranty Corp accusing Goldman of fraudulently inducing the company to insure the CDO, or collateralized debt obligation.

Analysis: Japan government-bond selloff sparks fears of too much, too fast

TOKYO (Reuters) - A three-day rout in the bond market has raised concerns that the Bank of Japan is getting more than it bargained for, by prodding investors to shift money out of the safety of government bonds faster than the government expected. As prices have slid, the yield on the benchmark 10-year bond has jumped to an eight-month high. While still very low by historical standards, the interest rate is almost triple the record low it briefly plumbed in April after the BOJ unleashed an enormous monetary easing aimed at ending 15 years of deflation and getting the sluggish economy moving.

Lockheed says furloughs could delay F-35 fighter, other programs

WASHINGTON (Reuters) - The Pentagon's plans to put most of its 800,000 civilian employees on unpaid leave for 11 days could lead to delays on Lockheed Martin Corp's F-35 Joint Strike Fighter and other weapons programs, a top company official said on Tuesday. Lockheed Chief Financial Officer Bruce Tanner said the company had not been officially informed about the impact of the expected furloughs, but said civilian government workers have played a big role in supporting flight testing and other work on the F-35 jet.

Source: http://news.yahoo.com/ca-business-summary-141901588.html

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