Canadian moving up the ranks at Toyota

We always like to salute Canadians who have done well in the world, so today let’s give a round of applause to Ray Tanguay, now the highest-ranking non-Japanese executive at Toyota Motor Corp.
Tanguay, 61, has been running Toyota’s manufacturing operations in Canada, including attracting hundreds of millions of investment to build a new plant in Woodstock, Ontario to build RAV4s. That plant has added several thousand manufacturing jobs to Canada – good-paying ones.
As of April 1, Tanguay will be a senior managing officer, a newly created position. Four other foreigners rank one rung below him: Jim Lentz, president of Toyota Motor Sales USA; Steve St. Angelo, chairman of Toyota's Kentucky and Mississippi plants; Didier Leroy, president of Toyota Motor Europe; and Johan van Zyl, president of South African operations.
Meanwhile, Yoshi Inaba, 65, will continue to lead Toyota North America and Toyota Motor Sales U.S.A. while becoming one of 18 directors to lose board seats.

Mexican Stocks: Cemex, Telmex Shares Declines; Azteca Advances

The following companies had unusual price changes in mexico trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.
The IPC index fell 0.7 percent to 36,450.19.
Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, fell 2.7 percent to 10.39 pesos. Cemex yesterday announced plans to sell as much as $1.38 billion of notes convertible to its U.S. shares.

Oil Conference Discusses Price, Higher Demand

representatives of world oil and gas companies, academics and industry experts are in Houston this week for the 30th annual conference sponsored by Cambridge Energy Research Associates, or IHS-CERA. With prices rising, partly in response to unrest in North Africa and the Middle East, discussions have centered on maintaining supply and expanding production, while also avoiding accidents like last year's spill in the Gulf of Mexico.

Talk at this year's CERA WEEK conference has centered on two topics - the rapid rise of the price of crude oil and the need to venture into ever more challenging environments in order to keep up with world demand.

The risks involved became glaringly apparent to the world last year when a platform operated by BP in the Gulf of Mexico exploded and then leaked nearly five million barrels of crude oil into the water.

BP CEO Robert Dudley, making his first appearance at an international industry event since last year's accident,  stressed his London-based company's commitment to compensating those harmed by the spill in US Gulf Coast states. He told reporters BP has learned to manage risk much more carefully.

Catalyst To Buy Walgreen Drug-Benefit Unit For $525M

Walgreen Co. (WAG) sold its pharmacy benefits management operation to Catalyst Health Solutions Inc. (CHSI) in a $525 million cash deal that doubles Catalyst's membership and again raises questions about the benefits of linking a drug-store chain with its own PBM business.
For Walgreen, operator of the largest U.S. retail drug-store chain, the move allows it to focus more on broadening its offering of pharmacy, health and wellness services. Catalyst, meanwhile, continues a rapid expansion that makes the Rockville, Md., company more of a rival to larger PBMs.
"This is a significant milestone for Catalyst and an important next step in our long-term growth strategy," Catalyst Chief Executive David Blair said.
Catalyst shares rose 18.6% to $52.80.

Dynegy Names Four Directors, Including Two Icahn Nominees

Dynegy Inc. (DYN) unveiled the four directors who will play key roles restocking the board and restructuring the struggling power producer.
The move is the latest twist in the six-month saga over who will control the company.
After failed buyout bids for Dynegy, the company's top two executives resigned and the board agreed to step down in June.
The company offered the top two shareholders, billionaire investor Carl Icahn and Seneca Capital, each a seat on the interim board, but they sought two seats apiece instead. Icahn Enterprise Associates LP controls a 15% stake in Dynegy, while Seneca owns 12%.

Dollar Nearly Flat Against the Euro

The dollar was essentially flat in trading against the euro Wednesday.
The euro edged up to $1.3904 late Wednesday from $1.3903 Tuesday. The euro has fallen this week on renewed worries about Europe's debt problem after reaching $1.4036 Monday on hopes that the European Central Bank will lift interest rates.

Europe Factors-Shares set to rise as oil eases

LONDON, March 8 (Reuters) - European shares were set to edge up on Tuesday,
rebounding from losses in the previous session, as crude prices eased from highs
on reports Libya's Muammar Gaddafi was looking for a way to step down and as
OPEC discussed increasing production.

LSI Agrees To Sell External Storage Systems Unit To NetApp For $480M

LSI Corp. (LSI) agreed to sell its external storage systems business to NetApp Inc. (NTAP) for $480 million, as the storage-chip maker also said its board authorized a new stock-repurchase program of up to $750 million.

Google Gets Its Venture Groove On

Google's deep pockets, range of talents, and entrepreneurial alumni may turn its venture arm into the ultimate VC shop. Already this year, Google Ventures has backed three high-profile startups.

 

Google Ventures is not so quietly becoming one of the big kids in the venture capital game, as three investments so far this year show.
It’s not just the size of those funding rounds that are evidence of Google’s graduation to the next level. It's also the firms that the search giant is choosing to back:

HCA IPO prices at $30, sells more shares-source

(Reuters) - Private equity-owned hospital operator HCA Holdings Inc priced shares in its initial public offering at $30 per share and sold more shares than planned, a source briefed on the matter said on Wednesday.

Buffett Takes $2.25 Billion in Burlington Dividends Since Biggest Takeover

Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) took $2.25 billion in dividends from Burlington Northern Santa Fe in less than 13 months of ownership, almost triple the railroad’s payout rate prior to the February 2010 acquisition.

Gross Eliminates Government Debt From Pimco's Flagship Total Return Fund

Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund last month as the U.S. projected record budget deficits.
Pimco’s $237 billion Total Return Fund last held zero government-related debt in January 2009. Gross had cut the holdings to 12 percent of assets in January, according to the Newport Beach, California-based

Exxon raises capital spending by $7 billion to $8 billion a year

Oil giant to lay out at least $33 billion a year on projects

NEW YORK (MarketWatch) -- Exxon Mobil Corp. said Wednesday it plans to increase capital spending by $7 billion to $8 billion a year to boost production through oil-sands development in Canada, natural-gas output in the U.S. and the Middle East, and oil exploration overseas.

H&R Block Posts Loss, Cites Slow Start to Tax Season

swung to a fiscal third-quarter loss, as the nation's biggest tax preparer said an "industrywide slow start to tax season" hurt revenue.
The company said last month that its tax-return preparations so far this season rose from a year ago, and that it saw strong momentum through February, even after a slow start to the tax season for the whole industry.

Men's Wearhouse 4Q Loss Narrows; Shares Up On Forecasts

Men's Wearhouse Inc.'s (MW) fiscal fourth-quarter loss narrowed, in line with company expectations, as the apparel seller reported higher sales.
The company also forecast current-quarter earnings of 27 cents to 30 cents a share and full-year earnings of $1.75 to $1.85. Analysts surveyed by Thomson Reuters expect 29 cents and $1.72, respectively.

Cattle Rally to Record as Export Demand Increases, Boosting Wal-Mart Costs

Cattle futures jumped to a record in Chicago as rising demand for U.S. beef erodes supplies of animals for slaughterhouses and boosts meat costs for food retailers, including Wal-Mart Stores Inc.
The U.S. cattle herd is the smallest since 1958 as beef exports surged 19 percent in 2010 to about 2.3 billion pounds (1.04 million metric tons), according to the U.S. Department of Agriculture. Cattle prices have jumped 27 percent in the past year, fueled by a global economic recovery that is boosting meat demand in emerging economies, including China.

GLOBAL MARKETS-Brent oil jumps on Libya, denting world stocks

* Brent jumps over 2 pct on Libya, lack of OPEC action
* Portugal sells bonds, long-term financing worries remain
* European stocks close down; IBM shares support Dow (Updates with U.S. markets close, adds Nikkei futures)

Stocks flat as investors continue to watch oil

NEW YORK (CNNMoney) -- U.S. stocks closed little changed Wednesday in what was mostly a quiet session, as investors closely tracked developments in Libya and oil prices.
The Dow Jones industrial average (INDU) lost 1 point to close at 12,213.

NYC jurors could hear inside trading case soon

NEW YORK — Jurors could soon be hearing the government's case against a man who was one of the richest Americans before he was charged in what prosecutors say is history's biggest hedge fund insider trading case.

Carlos Slim still first as world's richest list grows, spreads

If it seems like the rest of the world is getting richer, it's true, it is.
The world's wealthiest people had a record-breaking good year in 2011, says Forbes magazine, which released its list of the globe's billionaires. During the year, 214 people became billionaires, bringing the world's total to 1,210 people holding $4.5 trillion. These billionaires' wealth is larger than the Gross Domestic Product of Germany.