Section 2: Economic events
Archived Content
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Canada
Cenovus Energy will move forward with its $2.7 billion plan for a 40,000 barrels per day expansion at its Christina Lake thermal operations. SaskPower announced a $1.24 billion project to build a clean-coal power plant, with plans to capture the carbon dioxide before it goes into the atmosphere and use it to recover crude from nearby oil fields.
Toyota announced extended shutdowns at its North American plants caused by a shortage of parts from Japan. Plant operations are suspended on Mondays and Fridays and will operate at half capacity on days that they are open. Factories will close a full week in May. Production in Japan was halved until June. Honda also cut production by 50%.
GM restored leasing on Chevrolet and GMC vehicles as a financing option for customers.
World
The European Central Bank raised its main interest rate by 25 basis points to 1.25%, the first rise since July 2008.
Ford idled plants in Taiwan, China and South Africa due to a shortage of parts from Japan.
Portuguese government bond yields reached their highest levels since 1999 after its government resigned following parliament's rejection of a fourth round of austerity measures and its credit rating was downgraded.
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