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Canada train plot suspects in court, will fight charges

TORONTO/MONTREAL (Reuters) - Two men charged with an alleged al Qaeda-backed plot to derail a Canadian passenger train made their first court appearances on Tuesday, and the lawyer for one said his client would fight the charges vigorously. Raed Jaser of Toronto, 35, and Chiheb Esseghaier, 30, face charges that include conspiring "with each other to murder unknown persons for the benefit of, at the direction of, or in association with a terrorist group."

Canadian February retail sales rise more than expected

OTTAWA (Reuters) - Canadian retail sales in February rose a greater-than-expected 0.8 percent from January, pushed up by higher sales at general merchandise stores and gas stations, Statistics Canada data indicated on Tuesday. The increase was greater than the 0.3 percent advance predicted by market operators. Statscan trimmed January's growth to 0.9 percent, from an initial 1.0 percent.

Canada thwarts "al Qaeda-backed" train plot, Iran denies role

TORONTO (Reuters) - Canadian police have arrested two men and charged them with plotting to derail a Toronto-area passenger train in an operation that they say was backed by al Qaeda elements in Iran. "Had this plot been carried out, it would have resulted in innocent people being killed or seriously injured," Royal Canadian Mounted Police official James Malizia told reporters on Monday.

Ontario says 2012-13 deficit smaller than expected

TORONTO (Reuters) - Ontario's budget deficit was C$9.8 billion ($9.54 billion) in 2012-13, down from the minority Liberal government's January forecast of C$11.9 billion, provincial Finance Minister Charles Sousa said on Monday. In the text of a speech to be delivered at a business lunch in Toronto, Sousa said the government will deliver its 2013-14 budget on May 2.

Drop in gasoline prices help keep Canada inflation benign

OTTAWA (Reuters) - Canada's annual inflation rate in March slowed to 1.0 percent from 1.2 percent in February, further underlining how little pressure there is on the Bank of Canada to raise rates any time soon. The main reason for the drop in the annual rate was lower gas prices, Statistics Canada said on Friday. The March rate was slightly less than the 1.1 percent predicted by economists.

Canada wholesale trade unchanged in February

OTTAWA (Reuters) - Canadian wholesale trade unexpectedly remained flat in February from January, held back by lower sales of machinery, equipment and supplies, Statistics Canada data showed on Friday. Market operators had expected a 0.4 percent increase. Statscan revised January's advance to 0.5 percent from an initial 0.3 percent. The volume of sales remained stable.

Honda recalls over 225,000 SUVs and minivans in U.S., Canada

DETROIT (Reuters) - Honda Motor Co is recalling about 225,300 SUVs and minivans in the United States and Canada to replace a part that if not operating could allow the driver to shift out of park without depressing the brake pedal. The Japanese automaker said in the United States it is recalling about 128,000 Honda CR-V SUVs and 59,000 Honda Odyssey minivans from the 2012 and 2013 model years, and 17,500 Acura RDX SUVs from the 2013 model year to replace a part of the brake shift interlock system.

Carney warns of quicker rate hike if household debt not tempered

WASHINGTON (Reuters) - Bank of Canada Governor Mark Carney warned on Thursday that interest rates could rise sooner if the growth in household debt, which is related to the housing market, was not tempered. "A concern of the Bank of Canada...has been the pace of growth of household debt, which has been related to dynamics in the housing market. And so a number of measures have been taken to slow that pace," he told a Reuters-sponsored event, noting that the growth rate has fallen "quite nicely" to 3 percent from 13 percent.

Bank of England job will put Carney to the test

LONDON (Reuters) - Mark Carney is gearing up for what some have called a mission impossible: turn around Britain's ailing economy, fix its banks and lead an overhaul of the Bank of England. Currently head of the Bank of Canada, Britain's finance minister called Carney "the outstanding central banker of his generation."

Rowdy Keystone pipeline hearing pits workers vs greens

OMAHA, Nebraska (Reuters) - U.S. construction workers, environmentalists and company executives squared off on Thursday at a raucous meeting on the Keystone XL oil pipeline, but it was unclear the gathering changed any minds on the controversial project. U.S. State Department officials hosting the meeting repeatedly called for order at the hearing in Grand Island, Nebraska. It was the first since the department released a 2,000-page report on the environmental impacts of the pipeline in March and more than four years after the project was first floated.



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