17th case of mad cow disease delays Canada's movement into better risk status
March 11, 2010 - 11:53 pm
EDMONTON - The president of Canada Beef Export Federation says the country's 17th case of mad cow disease has not affected markets. The beef cow was born in 2004 in Alberta, and the fatal degenerative brain disease was confirmed on Feb. 25, the Canadian Food Inspection Agency reported on ...
Regulators shut down LibertyPointe Bank; makes 27 bank failures this year
March 11, 2010 - 10:37 pm
WASHINGTON - U.S. regulators on Thursday shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession. The U.S. Federal Deposit Insurance Corp. took ...
Exports forecast to remain strong even as rebounding economy pushes imports up
March 11, 2010 - 10:36 pm
WASHINGTON - U.S. exports dipped in January, the government said Thursday, but economists weren't fazed. They predict export growth will be a bright spot for American manufacturers through the rest of 2010. President Barack Obama is banking on further improvement to help meet his ambitious ...
SEC chairman calls for Congress to put new oversight on derivatives
March 11, 2010 - 10:33 pm
WASHINGTON - The government's top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage. The head of the U.S. ...
Power Corp. of Canada reports Q4 profit, as revenue falls from year ago
March 11, 2010 - 9:49 pm
MONTREAL - Power Corp. of Canada said Thursday it earned $54 million in its latest quarter as revenue dropped. The diversified conglomerate said the profit amounted to 10 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $535 million or $1.20 per diluted share ...
National Energy Board give OK to TransCanada's Keystone XL pipeline project
March 11, 2010 - 9:48 pm
CALGARY - The National Energy Board approved Thursday an application by TransCanada Corp. (TSX:TRP) to build its Keystone XL pipeline project, an expansion of its Keystone pipeline to the U.S. Gulf Coast. The approval by the federal energy regulator includes 22 conditions regarding safety, ...
Agrium drops hostile takeover offer for U.S. company CF Industries
March 11, 2010 - 9:47 pm
CALGARY - Canadian fertilizer giant Agrium Inc. is dropping its US$5.5-billion takeover bid for U.S. company CF Industries Holdings Inc., which this week came one step closer to winning a hostile acquisition of its own. The Calgary-based company said Thursday it will let its offer for CF ...
Alberta cuts royalty rates for oil and gas industry in bid to win investment
March 11, 2010 - 9:46 pm
CALGARY - The Alberta government said Thursday it will slash its royalty take from oil and gas producers, many of whom responded to a new regime introduced a year ago by moving their investment elsewhere. "We can't pretend that oil and gas investment levels haven't eroded or that we don't ...
Closed Listowel, Ont., soup factory to make hot dogs, employ up to 500 people
March 11, 2010 - 8:46 pm
LISTOWEL, Ont. - A $3-million grant from the Ontario government - along with $40 million in private funds - will help turn a closed Campbell's Soup plant in this small southwestern community into a "very large hot dog factory," opening the shuttered doors to hundreds of new jobs. The old ...
MPs accuse Transport Canada of inaction over Toyota safety concerns
March 11, 2010 - 8:22 pm
OTTAWA - Transport Canada came under fire from MPs on Thursday over its handling of safety concerns with Toyota vehicles after disclosing that authorities had received 17 acceleration-related complaints before last fall's recall. Department officials were called on the carpet by opposition ...
Quebec, Vermont utilities sign accord which could boost power exports
March 11, 2010 - 8:21 pm
QUEBEC - Vermont's two biggest utilities signed a deal Thursday aimed at increasing the amount of power the state gets from Quebec. "Reaching a new long-term agreement with Hydro-Quebec is a good deal for ratepayers and strengthens the state's economic future," Gov. James Douglas said. ...
Mont. governor seeks federal permission to import cheaper drugs from Canada for state programs
March 11, 2010 - 8:11 pm
HELENA, Mon. - Gov. Brian Schweitzer said Thursday that he is seeking U.S. government permission to import cheaper drugs from Canada for use in state insurance programs. Schweitzer said he thinks the move could chop 40 per cent off the $100 million the state spends each year on ...
NDP demand to know details of dinner between McGuinty and developers
March 11, 2010 - 8:02 pm
LISTOWEL, Ont. - The opposition parties can take all the shots they want, Premier Dalton McGuinty said Thursday, as long as people know he would never betray their trust by giving special favours to those who make donations to the Liberal Party. For the second day in a row, the New ...
Positive trade, housing data suggest economic recovery taking hold
March 11, 2010 - 7:25 pm
TORONTO - There are more signs that the Canadian economy is getting healthier and stronger, with housing and trade data adding to recent reports that suggest a recovery is indeed taking hold. Statistics Canada reported Thursday that the country posted a trade surplus with the world of $799 ...
Transat stock hammered after Q1 loss turns out to be deeper than expected
March 11, 2010 - 7:22 pm
MONTREAL - Transat A.T. Inc. said it's model as one of Canada's largest vacation companies isn't broken even though poor results and the prospect of a loss for the key winter travel period caused its shares to plunge Thursday. Transat's class B shares (TSX:TRZ.B) fell $5.80 to close at ...
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