HOT LIKE FIRE!

Canada's on fire
Jacqueline Thorpe
Financial Post · Thursday, Jan. 13, 2011

Three weeks into 2011, Canada has been swept up in a wave of mergers, foreign money and international attention as commodity prices soar, the loonie jumps above US$1.00 and the economic recovery gathers steam. Check out the latest deals putting Canada in the sights of the global economy:

Zellers sells 220 stores to Target

U.S. retailing giant Target Corp. has secured the land needed to make its much-anticipated arrival in Canada. Target reached a deal with Hudson’s Bay Co. that will see it pay $1.825-billion to acquire the leasehold interests in as many as 220 sites now operated by Zellers Inc.

Lundin Mining, Inmet agree to $9B merger

Canadian miners Inmet Mining Corp. and Lundin Mining Corp. have agreed to a blockbuster $9-billion merger to create a leading global copper company that appears poised for even more growth in the future.

Cliffs Natural Resources to buy Consolidated Thompson for $4.9B

In the biggest iron-ore deal in Canadian history, U.S. miner Cliffs Natural Resources Inc. is buying Montreal-based Consolidated Thompson Iron Mines Ltd. for $4.9-billion as it pushes for more scale and enlarges its customer base beyond North America

U.S. bond giant enters retail fray in Canada

The world's largest bond fund is about to make an erratic year on debt markets even more interesting for Canadian retail investors. U.S. investment behemoth PIMCO, which has about US$1.3-trillion under management, plans to introduce to the retail market a suite of funds focusing on Canadian fixed income. With the volatility in bond markets expected to continue throughout the next several months, exposure to credit these days carries a heightened risk component. And returns promise to be modest.

Canada gets 'emerging' label from Merrill Lynch

There is a dichotomy to the analysis of world economies these days. On one hand, there are the struggling developed economies of the West, on the other, ascendant emerging markets, now including Canada. When examining Canada's growth prospects, the country might better be lumped in with emerging market economies rather than its traditional economic peers, said Sheryl King, head of Canada economics and strategy at BofA Merrill Lynch Global Research.

Maple Sales May Double in 2011 on Dollar Rally

Sales of Canadian-dollar debt by foreign companies may double this year as borrowers diversify funding sources and take advantage of the nation’s strengthening currency.