Flaherty Names Rbc’s Taylor To Canada Pension Plan Board

This marks the second appointment for Taylor in six weeks after she was named chairwoman at Royal Bank of Canada (RY) , the countrys biggest lender, starting next year. The CPPIB, which reported C$188.9 billion ($183 billion) of assets on Aug. 9, works independently of government to invest taxpayer pension contributions. Ms. Taylors global operational expertise and significant financial-services-board experience will make her a solid contributor, Flaherty said in a statement today from Ottawa. Taylor didnt immediately respond to an e-mail request for comment. Taylor, 56, the former chief executive officer of Four Seasons Hotels & Resorts, has been on Royal Banks board since 2001. She has a masters degree in business administration from the Schulich School of Business and a law degree from Osgoode Hall Law School at York University in Toronto. Katie will be a valuable addition to our board and contribute significantly to CPPIBs ability to fulfill its crucial responsibility to provide a foundation upon which 18 million Canadians build their financial security in retirement, Bob Astley, Canada Pension Plan chairman, said in an e-mailed statement. Canada Pension Plans first chairman was a female, Gail Cook-Bennett, who later became the non-executive chairman at Manulife Financial Corp. (MFC) , the countrys biggest insurer. To contact the reporters on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net ; Katia Dmitrieva in Toronto at edmitrieva1@bloomberg.net To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net More News:

Canada U-17 coach announces FIFA World Cup roster with plan to “win every single game” in UAE

You have to give [the academies] great credit, Fleming said. Every single one of those players are in professional environments thats a great trend moving forward. At the last U-17 World Cup in 2011, Canada earned their first-ever point in the competition, when a late-game, once-in-a-lifetime goal from Toronto FC goalkeeper Quillan Roberts sealed a famous 2-2 draw with England. Two players from that team Samuel Piette and Keven Aleman have since moved up to the senior ranks, with both appearing for Canada at this years CONCACAF Gold Cup. Canadian Exports: Is red-hot Ricketts the answer for CanMNT’s scoring woes? While Fleming certainly hopes his squad can make more history this time out, by earning Canadas first-ever U-17 World Cup win, he says the top priority is implementing a specific game plan on the field hopefully, as a result of that, our results [will be] positive. Canada qualified for UAE 2013 by beating Jamaica 4-2 in the quarterfinals of the CONCACAF U-17 Championship back in April. The young Reds went on to claim third place in that tournament with a dramatic win over Honduras on penalty kicks. Jordan Hamilton led the way for Canada, scoring three goals in five games. Canada open World Cup group-stage play on Oct. 19 against Group E opponents Austria, before meeting Iran on Oct. 22 and finishing off against Argentina on Oct. 25. To qualify for the knockout stages, theyll need to finish among the top two in their group, or rank as one of the four best third-place finishers in the six-group competition.

Canada’s first oil-sands unit train to run in November

Shipping by rail is more costly, but also more flexible. At present, the oil sands are only served by manifest trains hauling smaller loads, a less cost-effective mode of transport, but around 550,000 bpd of unit-train crude-by-rail projects – terminals that can load up to 120 rail cars a day – are due to start up in Western Canada by the end of 2014. The Canexus terminal, which has been shipping 25,000 to 30,000 bpd of crude from Bruderheim on manifest trains since 2012, has already secured customer commitments for about 35 percent of its capacity. The company expects 70 to 80 percent of capacity to be under contract by the end of the year. “The first unit train is set to run by the end of November,” Kubera said. “We expect unit trains will be going to the East, West, Gulf coasts. There is a lot of investment going into refineries to allow them to move crude by rail.” He declined to give exact details of where Bruderheim shipments will go in the United States, saying it would be the decision of the shippers and their customers. Extra rail capacity could help limit discounts on bottle-necked oil sands crude, which widened to as much as $40 per barrel below the West Texas Intermediate benchmark earlier this year, cleaving a hefty chunk out of producers’ profits. Canadian producer MEG Energy says the terminal allows MEG to ship all of its 30,000 to 35,000 bpd of production by rail to its main market in the U.S. Midwest, as well as the Gulf Coast and Eastern Canada. “With the massive rail network on the continent it could be to any potential refinery that has interest in that feedstock and has offloading facilities,” spokesman Brad Bellows said. “We have seen a lot of interest, particularly from the Gulf Coast.” NEW LINES The initial supply pipeline into Bruderheim will run from MEG’s newly operational, 900,000-barrel Stonefell storage terminal, with other producers also able to move crude through that facility.