CA-BUSINESS Summary

TSX posts year's biggest jump on upbeat China data

TORONTO (Reuters) - Canada's main stock index recorded its biggest one-day percentage jump in more than four months on Tuesday as positive economic data from China fueled hopes for a global economic recovery and drove gains in the material and energy sectors. The sharpest reaction came from gold producers, which were buoyed by a rise in the price of bullion and jumped 3.4 percent.

WTO cuts 2013 trade forecast after record slow growth in 2012

GENEVA (Reuters) - The World Trade Organization slashed its forecast for global trade growth in 2013 to 3.3 percent from 4.5 percent on Wednesday and said 2012 saw only a 2.0 percent increase, the smallest annual rise since records began in 1981. WTO Director General Pascal Lamy warned that 2013 could turn out worse than expected, especially because of risks from the euro crisis, and countries might try to restrict trade further in a desperate attempt to shore up growth.

Agrium sweeps proxy vote, Jana cries foul

CALGARY, Alberta (Reuters) - Canadian fertilizer company Agrium Inc said on Tuesday its entire slate of directors had been elected to its board, defeating a rival slate nominated by dissident U.S. shareholder Jana Partners. Jana, the hedge fund that is Agrium's biggest single shareholder, said the vote was tainted and should be investigated. Agrium said the result was "fair and square".

Penney, Macy's court fight comes down to plastic pitchers

NEW YORK (Reuters) - The legal battle between Macy's and J.C. Penney over who gets to sell what Martha Stewart products took a comedic turn on Tuesday when lawyers asked a judge to weigh two pitchers in his hands, one from each of the rival retailers. At stake is the question of whether Penney violated the judge's order not to sell certain Stewart products.

Toyota denies report that Ford Focus topped 2012 sales

BANGALORE/TOKYO (Reuters) - Toyota Motor Corp said on Wednesday its Corolla was the world's top selling car of 2012, contradicting rival Ford which claimed top spot for its Focus model. Ford said on Tuesday it sold 1.02 million Focus compact cars last year, citing data from automotive consulting firm Polk.

Exclusive: Thermo bids for Life Tech; PE firms finalizing offer - sources

NEW YORK (Reuters) - Thermo Fisher Scientific Inc made a binding offer for Life Technologies Corp on Tuesday as private equity firms raced to finalize a consortium to take the genetic testing equipment maker private, several people familiar with the matter said. Life Tech, with a current market value of more than $11 billion, has become an attractive target due to its strength in advanced diagnostics and gene sequencing and if Thermo Fisher were to prevail, the deal would make it a major player in the genetic sequencing market.

Daimler may cut 2013 outlook on weak European demand

BERLIN (Reuters) - German premium carmaker Daimler said it might cut its 2013 profit expectations this month, sparking sharp criticism from shareholders gathering for Wednesday's annual meeting, as Europe's car market shrank at an alarming rate. Daimler has fallen far behind German rivals BMW and Audi due to deep-seated problems in China, and the latest profit warning is another dent in the credibility of Chief Executive Dieter Zetsche, whose contract extension in February nearly ended in a boardroom coup.

OECD says growth picking up in most major economies

PARIS (Reuters) - Growth is picking up in most industrialized countries, including in the euro zone, the OECD said on Wednesday, with the United States leading the way. The Paris-based think tank's composite leading indicator shows growth firming in Japan and picking up in China while the outlook is improving for Italy and France is stabilizing.

China March trade data signals strengthening recovery

BEIJING (Reuters) - China saw a mild trade deficit of $884 million in March as a forecast-busting 14.1 percent year on year surge in imports eclipsed export growth of 10 percent, signaling that domestic demand was gathering steam needed to drive economic recovery. Customs Administration data on Wednesday showed import growth far in excess of the 5.2 percent expected, while exports fell just short of the 10.5 percent rise forecast in the benchmark Reuters poll.

Analysis: Rethinking the lithium-ion battery revolution over cost, safety

TROY, Michigan (Reuters) - For nearly two years, a team of former Chevrolet Volt and Toyota Prius engineers has been working on the next big thing in electric cars: the latest version of the 154-year-old lead-acid battery. Their aim is to build a battery strong enough to power a wider range of vehicles, something they think the current cutting-edge technology - lithium ion - can't do cheaply, particularly given recent safety scares.

Source: http://news.yahoo.com/ca-business-summary-001726234--finance.html

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