Canada’s National Securities Commission
+ Alberta Finance Minister Ted Morton said “It would make more sense for Saskatchewan and Alberta to have a single commission….between oil and gas, mining, agriculture and forestry, we have virtually identical profiles.”
+ Jim Flaherty called Canada’s provincial securities regulators an “embarrassment”
+ Alberta, Quebec, Manitoba, BC, and New Brunswick have expressed concerns about Ottawa’s proposal.
+ BMW and Daimler’s Mercedes-Benz will shorten Christmas breaks at their factories because of demand for new models. In 2009, BMW halted production for 3 weeks.
+ Porsche’s Q1 profit rose sevenfold on demand for the Cayenne SUV and Panamera sedan. European deliveries rose 63% to 7,082 cars.
+ Ford Motor inaugurated 40 new dealerships in China on Thursday and expect to open 26 more before the end of the year. At the end of 2010 they will have 340 dealerships in China.
+ First time in more than 4 years a new oil and gas trust launched on Canadian markets, Eagle Energy Trust raised $150 million. Headquartered in Calgary, sole asset is a Texas oil field. Eagle is modeling a 50% payout ratio and a 10.5% annual distribution.
+ Japan passed a US$58 billion stimulus budget to avert the threat of a “double-dip” recession.
+ Saskatchewan tripled its projected budget surplus to $68.5 million due to oil and potash royalties.