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Wal-Mart Canada to open or expand 25-27 stores by 2009

MISSISSAUGA, Ont. - Wal-Mart Canada says it plans to open or expand 25 to 27 stores by the end of its current fiscal year in January 2009.

The discount retailer says more than half of the projects will be new stores and most of those will be new supercentres.

About one third of all projects will see existing discount stores expanded or relocated to become supercentres.

Wal-Mart Canada says the expansion will result in 6,000 new in-store jobs for a total of more than 80,000 across the country.

The giant retailer says the expansion will also create some 5,000 spinoff jobs in construction and other trades.

The retailer currently has 32 supercentres in Ontario, Alberta and British Columbia and recently opened its 300th store in Mississauga, Ont.

Forestry demand to soar - industry group

VANCOUVER - The head of the Forest Products Association of Canada is predicting the current slump in his sector to turn around in a few years as demand for wood products soars due to growth in the world's population and gross domestic product.

Avrim Lazar, president of the association representing Canada's forestry companies, said growing demand coupled with land scarcity to grow crops for food and biofuel will lead to future growth in the forest industry.

The good news for Canada is that pulp prices are at their highest level since the 1995 peak. The catch is that those prices are in U.S. dollars, and the strong Canadian dollar has eroded much of the increase, along with higher chip prices, caused by sawmill shutdowns.

Tories set to confirm ruling that stops Radarsat sale to U.S.

OTTAWA - The Conservative government is set to confirm a final decision on whether Canada's biggest space technology firm will be sold to an American buyer.

Industry Minister Jim Prentice shocked many industry observers last month when he rejected the sale of Vancouver-based MacDonald, Dettwiler and Associates Ltd., to Alliant Techsystems Inc., of Minnesota.

The appeal period ends Thursday and Prentice indicated an announcement is forthcoming.

Air Canada takes $125 million provision for price fixing probe

MONTREAL - Air Canada lost $288 million in the traditionally slow first quarter after taking a $125 million provision relating to cargo price-fixing investigations by competition authorities in the United States, Canada and Europe.

The Montreal-based airline has also been named in U.S. and Canadian class action lawsuits.

The provision "does not address the proceedings in all jurisdictions, but only where there is sufficient information to do so," the airline said Thursday, refusing to provide more details during a conference call to discuss quarterly results.

Nonetheless, the airline produced stronger than expected operating results despite rising fuel costs that have battered all the world's air carriers.

Sources: The Canadian Press, Canadaeast News Service