New Flyer has Brazilian deal
NEW Flyer Industries Inc. has signed a deal that will see Brazilian company Marcopolo SA buy a nearly 20 per cent stake in the transit bus manufacturer for $116 million.
Under the deal, Marcopolo will pay $10.50 per share for nearly 11.1 million shares in New Flyer, a roughly 19.99 per cent stake.
The two companies also signed an agreement to explore opportunities to co-operate on engineering, technical, purchasing and operational matters.
Marcopolo is one of the world's largest bus manufacturers. New Flyer says it plans to use the Marcopolo investment to support its growth and diversification.
PM seeks to lower outlook
CAMBRIDGE, Ont. -- Prime Minister Stephen Harper is lowering expectations when it comes to Canada's economy, saying a global financial slowdown is affecting the country's growth.
The prime minister spoke after the Bank of Canada downgraded its economic growth outlook for the country to 1.9 per cent for the year just ended and 2.0 per cent for this year.
The central bank also said it will likely have to keep interest rates at super-low levels for longer than expected in the face of the surprisingly weak economy.
Harper says his government downgraded its own growth forecast in the fall due to changes outside its borders. But he says Canada continues to create jobs and is faring relatively well compared to other countries.
Kindle Paperwhite in Canada
TORONTO -- Amazon introduced its Kindle Paperwhite to the Canadian market Wednesday, a few months after its U.S. launch.
But the company says it still has no news on when it might bring its tablet, the Fire, to Canada, or expand its recently announced Amazon Prime service to include the additional features offered in the U.S., including streaming of movies and TV shows and free borrowing of some ebooks.
Along with the Paperwhite, which has an illuminated screen and will sell for $139 for a WiFi version and $199 for a 3G-WiFi model, Amazon also said the latest update of its basic e-reader will be available for $89.
-- from the news services