Business Digest

Published Wednesday May 14th, 2008

MDA lands US$21M Boeing contract

VANCOUVER - MacDonald, Dettwiler and Associates Ltd. said Tuesday its Montreal operation has won a US$21-million contract from the Boeing Co. to supply communication technology for the International Space Station.

MDA said it will provide two spare sets of communication subsystems providing voice and data links between the station and the ground.

MDA stock gained $1.32 or three per cent to $40.56 on the TSX Tuesday morning - still down from $53 a year ago and from $47 in April before the federal government served notice it would squelch the proposed $1.3-billion sale of MDA's space technology division to U.S. munitions maker Alliant Techsystems Inc.

Hydro-Quebec raises $500 million in issue of debentures due 2045

MONTREAL - Hydro-Quebec has signed a deal to raise $500 million in an issue of debentures maturing on Feb. 15, 2045, the provincial utility said Tuesday.

The debentures will have a coupon of five per cent, payable semi-annually, and will be offered on the market at a price of 102.903 plus interest accrued from Feb. 15.

The yield will be 4.830 per cent.

Iran report pushes oil to new record US$127

NEW YORK - Oil prices shot to a new record near US$127 a barrel Tuesday on concerns that Iran may consider cutting crude oil production.

Light, sweet crude for June delivery rose as high as a record $126.98 a barrel in midday trading on the New York Mercantile Exchange Tuesday before retreating to settle up $1.57 at $125.80.

Immigrant employment rises in 2007

OTTAWA - Employment among immigrants increased 2.1 per cent in 2007 but the employment-rate gap between immigrants and those born in Canada widened.

Employment among core working-age immigrants - aged 25 to 54 - rose by 52,000 over 2006.

Employment among Canadian-born workers grew at a rate of 1.3 per cent last year.

However, Statistics Canada reports the employment-rate gap between immigrants and the Canadian born widened because the immigrant population grew much faster than their employment.

The employment-rate gap between immigrants and the Canadian born widened to 5.9 percentage points in 2007 from 5.4 in 2006.

Source: The Canadian Press, The Associated Press

Please Log In or Register FREE

You are currently not logged into this site. Please log in or register for a FREE ONE Account.

Logged in visitors may comment on articles, enter contests, manage home delivery holds and much more online. Your ONE Account grants you access to features and content across the entire CanadaEast Network of sites.