Newstalk 1010 - Business News

British Airways crew launches 3-day strike, forcing airline to cancel thousands of flights

Sat, 20 Mar 2010 10:29:11 +0000

LONDON - British Airways was scrambling to deal with a three-day strike launched by cabin crew Saturday, throwing the plans of tens of thousands of travellers into chaos and risking harm to the Labour...

Britain's opposition Conservative Party pledges to impose unilateral bank tax

Sat, 20 Mar 2010 10:28:57 +0000

LONDON - Britain's main opposition Conservative Party says it will impose a new tax on banks to avoid taxpayers bearing the cost of any future bailouts if the party wins upcoming general elections. ...

Talks between British Airways, union collapse; strike affecting thousands of travellers begins

Sat, 20 Mar 2010 07:07:22 +0000

LONDON - A three-day strike by British Airways cabin crew affecting thousands of travellers began Saturday after last-ditch talks between the airline's management and union leaders collapsed. The w...

Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year

Sat, 20 Mar 2010 02:02:20 +0000

WASHINGTON - Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year. The closings follow the 140 that succumbed in 2009 t...

TMX Group to reduce fees for securities trading at $1 or higher on TSX

Sat, 20 Mar 2010 02:02:19 +0000

TORONTO - TMX Group Inc. (TSX:X) says it will reduce its trading fees for securities trading at $1 or higher on the Toronto Stock Exchange and the TSX Venture Exchange. The changes, which will take...

Barrick Gold expects US$834M in proceeds from IPO of African division

Sat, 20 Mar 2010 00:47:04 +0000

TORONTO - Barrick Gold Corp. (TSX:ABX) expects that an initial public offering for a quarter stake in its African properties will reap US$834 million in cash for the global mining giant. Toronto-ba...

Oil tumbles near US$80 a barrel as stronger dollar stalls month-long rally

Fri, 19 Mar 2010 22:23:49 +0000

NEW YORK - Oil prices slumped at the end of the week as continued uncertainty about Greece's economy helped lift the U.S. currency higher. Benchmark crude for April delivery dropped $1.52 to settle...

Icahn makes hostile bid for Lions Gate after it rejects his bid for larger stake

Fri, 19 Mar 2010 22:08:39 +0000

NEW YORK - Activist shareholder Carl Icahn raised the stakes in his year-long dispute with Lions Gate Entertainment Corp. on Friday, launching an all-out bid to take over the movie studio following di...

AbitibiBowater inches towards restructuring with initial approval of union deal

Fri, 19 Mar 2010 22:08:34 +0000

MONTREAL - AbitibiBowater is inching closer towards an exit from creditor protection after some union workers in Quebec approved concession-filled tentative agreements and the newsprint giant moved to...

TSX closes down: commodities depressed as Greek debt crisis sends U.S. dollar up

Fri, 19 Mar 2010 22:08:27 +0000

TORONTO - Commodity stocks led the way to a sharply lower session on the Toronto stock market Friday after uncertainty over the Greek financial crisis pushed the U.S. dollar higher, which in turn help...

Canadian consumers benefit when loonie and oil prices rise in tandem

Fri, 19 Mar 2010 21:02:55 +0000

CALGARY - With the Canadian dollar's recent rise toward parity, and oil trudging higher over the last few months, the days of pricey gasoline might seem to be once again close at hand. But when the...

TSX down, stronger U.S. dollar depresses commodity prices, pushes loonie lower

Fri, 19 Mar 2010 19:27:34 +0000

TORONTO - The Toronto stock market was negative Friday afternoon as uncertainty over the Greek debt crisis again pushed the American currency higher and helped send oil and gold prices lower. The S...

Liquidation World says it has closed $2-million private-placement financing

Fri, 19 Mar 2010 19:27:38 +0000

BRANTFORD, Ont. - Liquidation World Inc. (TSX:LQW) says it has closed $2 million in private-placement financing with two investment firms run by its own board members. The Ontario-based liquidator ...

AbitibiBowater to sell Mackenzie, B.C., assets to Conifex subsidiary

Fri, 19 Mar 2010 19:16:52 +0000

MONTREAL - Insolvent newsprint giant AbitibiBowater is unloading more assets as it seeks a Quebec court's permission to sell its largely idled Mackenzie, B.C., wood and paper mills to a subsidiary of ...

Circa Q4 loss shrinks to $200,000 versus $1.6M despite a drop in sales

Fri, 19 Mar 2010 19:16:51 +0000

CALGARY - Circa Enterprises Inc. said Friday it shrunk its fourth-quarter loss to $200,000 from a year-earlier loss of $1.6 million despite lower revenues. The Calgary-based company, a maker of pro...