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.