Canada settles long court case against U.S. Steel

OTTAWA (Reuters) – Canada and U.S. Steel Corp have settled a court case that started when Ottawa sought to fine the firm in 2009 for breaking job-protection promises made when it bought Canadian steelmaker Stelco, Industry Minister Christian Paradis said on Monday. Under the terms of the settlement, U.S. Steel will operate both the Lake Erie and Hamilton plants until 2015. It has also agreed to spend a total of C$250 million ($243 million) in capital investment, C$50 million more than initially envisaged. Last month, Canada’s top court confirmed the government had the right to fine U.S. …