Business News
U.S. advertising group opposes Yahoo-Google pact
SAN FRANCISCO - A group representing big-spending advertisers said Sunday it sent a letter to the U.S. Justice Department asserting an online ad partnership between Yahoo Inc. and Google Inc. will sti...
Gulf oil and gas producers give Ike a serious look
NEW YORK - Efforts to bring oil and gas production back online in the Gulf of Mexico slowed Sunday as hurricane Ike barrelled toward the U.S. energy complex, likely to be the second hurricane to slam ...
Bush says takeover of mortgage giants necessary because of unacceptable risk
WASHINGTON - U.S. President George W. Bush says the historic government takeover of mortgage giants Fannie Mae and Freddie Mac is necessary because of the "unacceptable risk" that they can longer oper...
Protests at Tata plant producing the world's cheapest car end
CALCUTTA, India - Protests that halted production at a plant in India building the world's cheapest car were called off after the local government promised Sunday to compensate angry farmers. The f...
U.S. government takes control of ailing Fannie Mae and Freddie Mac
WASHINGTON - The U.S. administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets ...
OPEC to consider cutting oil production to prop up crude price
VIENNA, Austria - With oil prices off nearly 30 per cent from their highs of almost $150 a barrel, OPEC oil ministers are considering what was unthinkable just a few weeks ago - cutting back output to...
TSX likely in for further losses as investors lose confidence in economy
TORONTO - Investors should be prepared for further losses on the Toronto stock market, even as its main index tumbled a stomach-churning 6.6 per cent last week on investor realization that a widesprea...
Operator says Dubai oil rig remains shuttered after helicopter crash
DUBAI, United Arab Emirates - The operator of the oil rig involved in last week's deadly helicopter accident off the Dubai coast said production remained halted on the platform Sunday. The rig serv...
TSX likely in or further losses as investors lose confidence in economy
TORONTO - Investors should be prepared for further losses on the Toronto stock market, even as its main index tumbled a stomach-churning 6.6 per cent last week on investor realization that a widesprea...
Tories seek to turn economic weakness into electoral strength
OTTAWA - Suddenly, it's the economy stupid, again. After several federal elections when the bread and butter issue took a back seat to everything from health to corruption, the battle over which pa...
Production resumes on Dubai oil rig after crash
DUBAI, United Arab Emirates - A senior Dubai police official says production has resumed at a Persian Gulf oil rig struck by a helicopter last week. Families of the five passengers and two crew bel...
Top Democrat says government will stabilize mortgage giants Fannie, Freddie
WASHINGTON - A top House Democrat confirmed Saturday that the government is planning to intervene to stabilize troubled mortgage finance companies Fannie Mae and Freddie Mac. Representative Barney ...
Mining giant BHP Billiton to build $3.5 billion water plant in Chile
SANTIAGO, Chile - BHP Billiton is seeking approval to build a $3.5 billion US water desalinization plant to service its Escondida copper mine in northern Chile, one of the world's top sources of the m...
Greenspan: Don't use Federal Reserve as a 'magical piggy bank'
WASHINGTON - Troubled by the Bear Stearns debacle, former U.S. Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse co...
Boeing, machinists negotiations fail; strike is on
SEATTLE - Despite a 48-hour contract extension, negotiations between Boeing Co. and Machinists union officials have failed and the union declared: "The strike is on!" The Machinists bargain for abo...
Silver State Bank in Nevada is shut
WASHINGTON - Nevada regulators have shut down Silver State Bank. It was the 11th failure this year of a federally insured bank in the U.S. The Federal Deposit Insurance Corp. was appointed receiver...
Funeral held Friday for Thomas Bata, 'shoemaker to the world'
TORONTO - Friends, family members, and colleagues of the Canadian business legend Thomas Bata gathered in Toronto on Friday to mourn the loss of the man who built his namesake company into the world's...
Funeral held Friday for Thomas Bata, ?shoemaker to the world?
TORONTO - Friends, family members, and colleagues of the Canadian business legend Thomas Bata gathered in Toronto on Friday to mourn the loss of the man who built his namesake company into the world's...
Funeral held Friday for Thomas Bata, "shoemaker to the world"
TORONTO - Friends, family members, and colleagues of the Canadian business legend Thomas Bata gathered in Toronto on Friday to mourn the loss of the man who built his namesake company into the world's...
Markets still rocky but underlying environment 'benign': Deutsche Bank chief
CALGARY - The global financial system has been "pushed to the brink" in its most severe downturn since the Great Depression, although the actions of American policy makers have averted disaster, the h...
Oil prices drop as U.S. jobs data add to demand worries
NEW YORK - Oil prices sank to a five-month low Friday as a jump in the U.S. unemployment rate signalled to traders that Americans might keep paring back their energy use to save money. The U.S. Lab...
Union says 174 workers at Sklar Furniture workers to lose jobs despite concessions
AJAX, Ont. - The United Steelworkers' union says it has been advised that Sklar Furniture in Ajax, Ont., has declared bankruptcy and 174 workers there will lose their jobs. The Steelworkers say uni...
U.S. prosecutors say loss from AIG scheme over US$1 billion
NEW HAVEN, Conn. - U.S. prosecutors in Connecticut say a scheme to manipulate the financial statements of the world's largest insurance company, American International Group Inc., resulted in a loss o...
Toyota Canada to delay startup of second shift at Woodstock, Ont., plant
TORONTO - Toyota Canada is delaying the startup of a second shift at its new plant in Woodstock, Ont., in a move that indicates the economic slowdown is affecting more than just the North American aut...
Economy cranks out 15,200 jobs in August, but shakiness persists
OTTAWA - Canada's economy exhibited signs of coming back to life in August with the first job gains in three months, but mounting bankruptcies and further slippage in the stock market suggest the coun...
Lottery results for Mon, Sep 08
