Business News
Delphi Energy says it made $1.3 million in Q4, but lost $8 million in 2009.
CALGARY - Delphi Energy Corp. (TSX:DEE) says it made a profit of $1.3 million in its fourth quarter. In the year-ago period, Delphi had recorded a loss of $959,000. But the Calgary-based energy ...
Concern in Australia that Rio Tinto employees may not get a fair trial in China
SYDNEY, Australia - Australia expressed disappointment Thursday that charges of stealing business secrets against one of its citizens would be tried in a closed court in China, and some lawmakers doub...
Toyota chief says worker development failed to keep up with automaker's rapid growth
TOKYO - Toyota's training of workers to maintain quality control failed to keep up with the company's rapid growth, its president Akio Toyoda said in an interview with a major Japanese business daily....
Brazil's Central Bank keeps key interest rate at all-time low of 8.75 per cent
RIO DE JANEIRO, Brazil - Brazil's Central Bank has kept a key interest rate unchanged at 8.75 per cent. The benchmark Selic rate has stood at that record low since July. Analysts are split on the b...
OPEC oil ministers decide to keep production targets steady
VIENNA, Austria - OPEC oil ministers opted to keep their output targets unchanged in a bid to keep prices at present levels and send a message of stability to energy-hungry economies struggling to eme...
Oil minister says Venezuela not planning to relinquish control of Curacao refinery
CARACAS, Venezuela - Venezuela's energy minister says the government of President Hugo Chavez is not planning to give up operational control of an oil refinery in Curacao. Rafael Ramirez says Venez...
Petrobank Q4 profits doubled to $57.1M, 2009 earnings dropped 40 per cent
CALGARY - Petrobank Energy Ltd., whose patented heavy oil extraction technology recently reached a major milestone, says its profits doubled in the last three months of 2009 compared with a year earli...
Printer, publisher Transcontinental boosts dividend but cautious about revenues
MONTREAL - Transcontinental Inc. (TSX:TCL.A) boosted its quarterly dividend Wednesday as a show of confidence in its future prospects despite remaining cautious about the impact of weakened advertisin...
CIBC lawsuit from shareholders over subprime market dismissed by U.S. judge
TORONTO - A U.S. federal judge has dismissed a shareholder lawsuit against CIBC (TSX:CM) claiming that the big Canadian bank misled investors about its exposure to the U.S. subprime mortgage market. ...
High Canadian dollar here to stay, economists say
OTTAWA - The Canadian loonie is again flying near parity with the U.S. greenback - but this time no one is surprised and most expect the currency to remain aloft for years. The dollar continued its...
Stocks rise on Fed pledge to keep interest rates low to revive economy
TORONTO - The Toronto stock market closed slightly higher as commodity prices rose in the wake of the U.S. Federal Reserve's announcement that it will leave interest rates at historic lows to help the...
Wind turbine maker AAER faces uncertain future with second round of layoffs
MONTREAL - AAER Inc., Canada's lone manufacturer of large wind turbines, is facing growing headwinds as the alternative energy industry finds it increasingly difficult to finance new energy projects. ...
Quebec's Gaz Metro looks to getting transport trucks to run on natural gas
MONTREAL - Quebec-based Gaz Metro is eyeing the thousands of transport trucks travelling weekly between Ontario and Quebec and wants them to fill up with natural gas to help increase the fuel distribu...
Strong sales in emerging markets boost Nike's 3rd-quarter profit from a year earlier
BEAVERTON, Ore. - Nike Inc. said Wednesday that stronger sales helped boost the athletic shoe and clothing company's third-quarter profit. Nike reported after the market closed that it earned $496 ...
Gas distributor Gaz Metro looks to expand LNG business
MONTREAL - Gaz Metro will continue its focus on clean energy projects like natural gas to fuel transport trucks travelling between Ontario and Quebec to increase its growth, CEO Sophie Brochu said Wed...
Imvescor books $167,000 profit on $11.9 million revenue in the first quarter
MONCTON, N.B. - Imvescor Restaurant Group Inc., franchisor of a number of well-known eateries in Canada, said Wednesday it will continue to focus on renovations and opening new stores to increase reve...
Barrick Gold says three workers killed in mine collapse in Tanzania
TORONTO - A unit of Canadian mining giant Barrick Gold Corp. has suspended operations at a mine in Tanzania after three workers were killed in a cave-in, one week before shares in the spin-off company...
Shares of Blockbuster tumble after warning it may need to file for bankruptcy protection
NEW YORK - Shares of Blockbuster Inc. sank 30 per cent Wednesday after the video rental chain warned that it may have to file for Chapter 11 bankruptcy protection in the U.S. Competition from DVD-b...
DiagnoCure reports deeper $3.8-million loss in Q1; CFO to leave his role
QUEBEC - DiagnoCure Inc. (TSX:CUR) says its losses deepened to $3.8 million in its first quarter as the life-sciences firm reworked the structure of the company and announced the exit of its chief fin...
Stocks rise, U.S. Fed pledges to keep interest rates low to revive U.S. economy
TORONTO - The U.S. Federal Reserve's reassurance that interest rates will stay low for a good while yet pushed the Toronto stock market higher for a second day. The S&P/TSX composite index gained 1...
Logistec Corp. reports drop in Q4 earnings despite slight increase in revenue
MONTREAL - Diversified cargo handling company Logistec Corp. (TSX:LGT.A) blames a slowdown in cargo shipments as a result of the recession for an almost 15 per cent decrease in fourth-quarter profits....
New CFO says General Motors has reasonable chance to make money in 2010
DETROIT - If the economy co-operates and auto sales recover a bit, General Motors Co. has a reasonable chance of turning a full-year profit in 2010, its new chief financial officer said Wednesday. ...
N.L. looks to future of mining industry with review and development strategy
ST. JOHN'S, N.L. - The Newfoundland and Labrador government is launching what it calls the first comprehensive review of the province's mining industry since the 1970s. The government says the aim ...
Printer, publisher Transcontinental posts Q1 profit despite 11 pct revenue drop
MONTREAL - Transcontinental Inc. (TSX:TCL.A) swung to a profit in the first quarter despite lower revenues as it confirmed it will receive more than US$100 million in net proceeds from the sale of its...
Oil rises above $82 as crude supplies rise less than expected, interest rates stay low
NEW YORK - Oil prices topped US$82 a barrel Wednesday after crude inventories grew less than expected last week, and the stock market rose on the Fed's promise to keep interest rates at record lows. ...
Noveko signs filtration supply agreement with hospital in Montreal
MONTREAL - A subsidiary of Noveko International Inc. (TSX:EKO) has signed an agreement to supply Montreal's Jewish General Hospital with antimicrobial filtration technology under a 30-month maintenanc...
Shares of Blockbuster tumble after company warns it may need to file for bankruptcy protection
NEW YORK - Shares of Blockbuster are sinking by more than 30 per cent after the video rental chain warned that it may have to file for Chapter 11 bankruptcy protection. Competition from DVD-by-mail...
Stocks climb after U.S. Fed pledges to hold rates low, says economy improving
TORONTO - The Toronto stock market held onto a modest gain late morning Wednesday following reassurance from the U.S. Federal Reserve that it's in no rush to hike interest rates. The S&P/TSX compos...
Stocks higher, U.S. inflation news bolsters belief Fed in no rush to raise rates
TORONTO - Commodity stocks pushed the Toronto stock market slightly higher Wednesday amid relief over the U.S. Federal Reserve's announcement that it will keep interest rates unchanged "for an extende...
February wholesale prices fall 0.6 pct, largest drop in 7 months, as energy costs plunge
WASHINGTON - Prices at the wholesale level in the United States plunged in February by the largest amount in seven months as a big drop in energy prices offset higher food costs. The Labor Departme...
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