CANADA STOCKS-TSX may open lower; Fed stimulus uncertainty drags

Wed Nov 13, 2013 8:29am EST
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Nov 13 (Reuters) - Canada's main stock index was set for a lower open on Wednesday, hurt by uncertainty over the timeline for a scaling down of the U.S. Federal Reserve's monetary stimulus.


* Britain's unemployment rate will fall much faster than previously expected due to a strengthening economic recovery, the Bank of England said, but it stressed that it was in no hurry to raise interest rates.

* Loblaw Co Ltd reported a 29 percent fall in quarterly net profit as sales in its retail business, which includes drugstores and its Joe Fresh apparel brand, rose just 1.5 percent.

* Metro Inc reported a lower quarterly profit, hurt by intensifying competition from U.S. retailers Target Corp and Wal-Mart Stores.

* Johnson & Johnson will pay more than $4 billion to settle thousands of lawsuits over its recalled defective hip implants, Bloomberg reported late on Tuesday, citing three people familiar with the deal.

* Starbucks Corp must pay Kraft Foods $2.76 billion after it ended the companies' grocery deal at least three years early, the coffee chain said on Tuesday.