Business News
AbitibiBowater Q2 loss $251M, more production cuts could come
MONTREAL - Forest products firm AbitibiBowater Inc. (TSX:ABH) is prepared to cut production and take a tough line on labour negotiations next year as the world's largest newspaper producer attempts to...
Metro name to be largest in Canada with consolidation of five banners in Ontario
MONTREAL - Venerable grocery banners Dominion and A&P will soon disappear as Canada's third-largest surpermarket chain, Metro Inc. (TSX:MRU.A), plans to consolidate five store names in Ontario under t...
Loonie falls below 95 cents US for the first time in almost a year
TORONTO - The Canadian dollar fell below 95 cents for the first time in almost a year on a big slide in the price of oil. The Canadian dollar fell 0.48 of a cent to close at 94.97 cents U.S., as oi...
Toronto closes in the red as weakness in financials in U.S. bleeds up north
TORONTO - The Toronto stock market couldn't shake its losses and closed Thursday's session just off its lowest levels of the day led by weakness in financials. Toronto's S&P/TSX composite index clo...
Tim Hortons Q2 profit increases to $75 million; sales $510.7 million
TORONTO - Despite rising food and fuel prices in Canada and the U.S., Tim Hortons Inc. (TSX:THI) says it's on track to meet its 10 per cent income growth rate for the year after serving up an 11.5 per...
Oil jumps back above US$120 on demand concerns, pipeline fire
NEW YORK - Oil prices jumped back above US$120 a barrel Thursday, halting a steep three-day slide after Kurdish rebels claimed responsibility for a fire at key Turkish pipeline that supplies Western c...
Dorel Q2 profit nearly triples to US$31.3 million as revenue rises 29.3 per cent
MONTREAL - The Beijing Olympics will shine a spotlight on a Canadian bicycle manufacturer as several international athletes and members of the Chinese national team ride Dorel Industries Inc. (TSX:DII...
Canadian Natural reports cost overrun at Horizon, $347-million loss
CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ), whose Horizon oilsands project has run over budget because of snags in getting processing units up and running, reported a quarterly loss of $347 m...
Toronto stock market holds on to losses with financials leading the declines
TORONTO - The Toronto stock market clung to its losses in afternoon trading Thursday as weakness in financials and consumer discretionaries dashed gains in energy. Toronto's S&P/TSX composite index...
Lundin Mining vows to clean up after massive writedown leads to Q2 loss
VANCOUVER - Lundin Mining Corp. (TSX:LUN) said it plans to be "cleaned up" and have a "sharper focus" by 2009, a pledge it made after announcing a massive writedown on its Aljustrel zinc project in Po...
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