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These are stories Report on Business is following Friday, June 10. Get the top business stories through the day on BlackBerry or iPhone by bookmarking our mobile-friendly webpage.

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Austria sells mountains Selling off state assets is taking on a whole new meaning.

Austria is selling off two mountain peaks in the Alps, but anyone who wants to buy them has to keep them open to climbers and hikers.

The country's federal real estate company is asking €121,000 for both the Grosse Kinigat and the Rosskopf, 2,000-metre peaks in eastern Tyrol, Agence France Presse reports.

The real estate concern, Bundesimmobiliengesellschaft, says the peaks boast "stunning views" of the Carnic Alps, though the mayor of a small village nearby questions the move.

"In Greece, they're selling off islands," he said, according to the report. "In Austria, it's the mountains."

Austria's move comes as Greece prepares to unveil details today of its fiscal plan, which involves selling off billions of euros of state assets, slashing public sector jobs and hiking property taxes to cut its debt and meet the targets tied to its international bailout.



Jobless rate dips Canada's economy created 22,300 jobs last month, as increases in the private sector and self employment outpaced losses in the public sector, The Globe and Mail's Tavia Grant reports today.

The unemployment rate unexpectedly fell to 7.4 per cent in May from 7.6 per cent a month earlier as fewer people looked for work, Statistics Canada said. The modest gains mean employment levels have now grown by 273,000 over the past year.

"The job gains were full time (up 33,000), but the one note of weakness was that all of the job gains were associated with self-employment, with paid employment showing a small decline," said Avery Shenfeld, chief economist at CIBC World Markets.

Economist Robert Kavcic of BMO Nesbitt Burns said the "solid" report is good news amid a string of more downbeat indicators.

"Still, growth is likely to downshift substantially in Q2 before picking up again in the second half of the year," he said. "This jives with our view that the Bank of Canada won't begin to hike rates again until September."

The bottom line Lululemon Athletica Inc. topped analysts estimates today as the yoga wear retailer posted a hefty jump in first-quarter profit, sending its stock surging.

Lululemon earned $33.5-million (U.S.) or 47 cents a share, basic, in the quarter, compared to $19.6-million or 28 cents a year earlier. Revenue climbed to $186.8-million from $138.3-million.

"We've had a great start to the year and a very successful first quarter considering our lean inventory levels," chief executive officer Christine Day said in a statement. "We were able to generate strong sales and earnings growth while also focusing on a successful transition of our e-Commerce platform in-house. While cautious about the macro-environment, we remain confident that our business momentum will continue through fiscal 2011."

The retailer also updated its forecasts, now projecting diluted earnings per share of 42 cents to 44 cents on revenue of $200-million to $205-million in the second quarter, and diluted earnings per share of $2.10 to $2.16 on revenue of $915-million to $930-million for the year.

Dundee readies IPO The groundwork is being laid for the first real estate investment trust IPO of the year, as Dundee International REIT looks to raise $365-million to partially fund a German shopping spree, The Globe and Mail's Steve Ladurantaye reports.

The company has filed a prospectus for an offering priced at $10 a unit, and wants to use the money to buy 295 commercial properties in Germany. About 75 per cent of the 12.5-million square feet of space is leased to Deutsche Post, a mail and logistics group.

British output sinks The bride looked lovely in white, the groom dashing in red. But factory output was downright ugly.

The royal wedding of Kate and William, coupled with supply chain havoc in the wake of Japan's earthquake and tsunami, knocked Britain's industrial production down by 1.7 per cent in April.

There was a public holiday as the couple wed, and people took extra time off. Having said that, tourist dollars flowed in for the event.

"Holidays including the royal wedding were a factor, but the reality is that output is only 1.3 per cent higher than a year ago," said economists Karen Cordes Woods and Derek Holt of Scotia Capital.

"Shaking off the holiday effect will likely have output rebounding next month, although the ongoing shock effect of Japan's supply disruptions will reverberate through global supply chains for a time yet."

In Economy Lab today

Do it right, and hosting a mega-event such as the Olympics can accelerate infrastructure investment and economic development by decades, Barrie McKenna writes.

In International Business today

Toyota forecasts its annual profit to dive 31 per cent, hammered by production disruptions from parts shortages, but its outlook today projects a robust recovery from the earthquake and tsunami in coming months, The Associated Press reports.

In Personal Finance today

Whether you are using an adviser or are a pilot yourself, you still need to know where you are going.

Find out if the house you're eyeing is really a good deal.

Sweating at the thought of the cost of your air-conditioning? Some useful money-saving tips.

From today's Report on Business

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