CA-BUSINESS Summary

Golds, banks pull TSX lower on weak data, Cyprus; RIM gains

TORONTO (Reuters) - Canada's main stock index fell on Thursday, led by declines in gold shares that followed the bullion price lower and in financial stocks, as weak U.S. economic data and worries about spillover effects of the Cyprus crisis deepened investor gloom. A rise in BlackBerry after the smartphone maker reported a surprise quarterly profit offset some of the losses.

Lazaridis to keep BlackBerry stake, focus on new venture

TORONTO (Reuters) - BlackBerry co-founder Mike Lazaridis said on Thursday he has no plans to sell his stake in the smartphone maker even as he steps down from the board to focus on a new quantum computing investment fund. BlackBerry, formerly Research In Motion, announced the former co-CEO's departure from the board on Thursday as it reported its first quarterly earnings since launching its make-or-break new BlackBerry 10 smartphones.

Hockey helps Canada's economy grow again in January

OTTAWA (Reuters) - Canada's economy bounced back from a year-end slump in January thanks to factories, mines and the return of professional ice hockey, but growth still looks too weak to match the central bank's upbeat outlook and interest rates are unlikely to budge until 2014. Gross domestic product expanded by 0.2 percent in the month, Statistics Canada said on Thursday, following the weakest two quarters since the 2008-09 recession and a 0.2 percent contraction in December.

BofA markets chief was bank's highest paid executive in '12

(Reuters) - Bank of America Corp's co-chief operating officer, Tom Montag, was once again the bank's highest paid executive in 2012, making $14.5 million in a year in which the bank showed signs of healing. Montag's compensation, which included a $5.46 million bonus and $8.19 million in stock, increased 21 percent to eclipse the $12 million awarded to Chief Executive Brian Moynihan, according to a filing the bank made on Thursday with the U.S. Securities and Exchange Commission.

Exclusive: Cerberus seeks to bankroll investor landlords

NEW YORK (Reuters) - Private equity firm Cerberus Capital Management wants to provide financing to small investment firms that are buying foreclosed homes as part of a long-term bullish bet on the housing recovery, according to four sources familiar with the situation. Cerberus is targeting investment firms that are looking to buy a small number of homes in niche housing markets in the U.S. and rent them out, the sources said. These investors cannot tap the much larger financing deals being put together by banks such as Deutsche Bank, Credit Suisse , and Goldman Sachs Group for institutional buyers of foreclosed homes.

Cyprus bank controls to last a month, minister says

NICOSIA (Reuters) - Cyprus conceded on Thursday that tight capital controls would remain in force longer than expected as the island's banks reopened for the first time after the government was forced to accept a tough EU rescue package to avoid bankruptcy. Cypriots lined up calmly to withdraw limited amounts of cash, but there was no sign of a run on deposits, as had been feared.

EBay targets $110 billion of marketplace volume in 2015

SAN FRANCISCO (Reuters) - EBay Inc aims to handle $110 billion of sales volume on its marketplace in 2015 by expanding globally, getting more local inventory online and using mobile technology to engage more with shoppers, executives said on Thursday. The new forecast, made by Devin Wenig, president of eBay's Marketplaces business in North America, compares with Gross Merchandise Volume, or GMV, of $75 billion in 2012.

Boeing CEO confident that 787 battery fix will work

(Reuters) - Boeing Co has high confidence the proposed fix for the lithium-ion batteries on its grounded 787 passenger jet will work, Chief Executive Officer Jim McNerney said on Thursday. The grounding has been a "frustrating experience," McNerney told a U.S. Chamber of Commerce aviation summit. (For event video, click: http://link.reuters.com/juf96t )

Total to book $1.65 billion first-quarter loss on Canada project exit

PARIS (Reuters) - Total will book a $1.65 billion first-quarter loss on its withdrawal from a long-delayed oil sands project in Canada, it said on Thursday, a day after partner Suncor pulled the plug on the plant citing lower potential returns. French oil major Total said it has sold its 49 percent stake in the Voyageur Upgrader project in northern Alberta to Canada's largest oil company Suncor Energy , which holds the remaining 51 percent, for $500 million.

Bank of Canada searches far and wide for Carney's successor

OTTAWA (Reuters) - The search for a new Bank of Canada chief to replace Mark Carney has pitted internal front-runner Tiff Macklem against a range of external candidates as officials look outside the bank for people who may have more hands-on business experience. Most central bank watchers believe Macklem, currently second-in-command at the bank, has outstanding credentials and deserves to take over when his boss leaves.

Source: http://news.yahoo.com/ca-business-summary-004845905--finance.html

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