SunFM-kelowna - Business News

Private equity firms pull out of Angiotech financing agreement

Fri, 21 Nov 2008 14:31:49 +0000

VANCOUVER, B.C. - Medical device maker Angiotech Pharmaceuticals, Inc. (TSX:ANP) says private equity firms Ares Management and New Leaf Venture Partners have pulled out of a plan to invest $200 millio...

First Calgary Petroleums finalizes sale to Italian firm Eni S.P.A.

Fri, 21 Nov 2008 13:53:05 +0000

CALGARY - First Calgary Petroleums (TSX:FCP) announced Friday that it has finalized the terms of its sale to Italian energy producer Eni S.P.A. The company said the deal, which received shareholder...

Bargain-hunters survey the rubble after massive stock-market carnage

Fri, 21 Nov 2008 13:33:31 +0000

TORONTO - New York stock index futures point to a positive open and overseas markets are modestly higher after two days of huge drops. Commodity prices also are reversing massive declines, with the...

Oil rises from three-year low as stocks rebound

Fri, 21 Nov 2008 12:28:18 +0000

VIENNA, Austria - A rebound in world stock markets supported oil prices Friday, with crude creeping off a 3-year low to trade above $50 a barrel. The bounce reflected how tightly oil prices are tie...

Survey shows euro-zone economy shrinking in November

Fri, 21 Nov 2008 12:01:32 +0000

LONDON - The downturn in the euro-zone economy, particularly within the manufacturing sector, gathered pace in November amid mounting recession fears and the deepening financial crisis, a closely watc...

Rescue plan for auto industry sought by Detroit collapses

Fri, 21 Nov 2008 10:20:17 +0000

WASHINGTON - The US$25-billion rescue plan for the auto industry, desperately sought by Detroit's beleaguered Big Three, collapsed Thursday as the U.S. Congress drew the line at one more bailout and D...

Oil moves above $50 a barrel as stocks rebound

Fri, 21 Nov 2008 09:50:16 +0000

SINGAPORE - Oil prices rose off a three-year low, creeping above $50 a barrel Friday in Asia as investors took a cue from a rebound in regional stock markets. Light, sweet crude for January deliver...

Asia, Europe stocks rebound after Wall Street rout

Fri, 21 Nov 2008 09:44:02 +0000

BANGKOK, Thailand - Most Asian and European markets rebounded Friday after sharp declines in recent days as investors scooped up battered financial and technology shares. Major Asian benchmarks ope...

Most Asian markets rebound after Wall Street rout

Fri, 21 Nov 2008 05:45:46 +0000

BANGKOK, Thailand - Most Asian markets rebounded Friday after days of sharp declines in global markets as investors scooped up battered financial and technology shares. Major regional benchmarks op...

Oil falls to a three-year low below $49 a barrel in Asia in early trading

Fri, 21 Nov 2008 04:46:16 +0000

SINGAPORE - Oil prices fell to a three-year low below $49 a barrel Friday in Asia as plunging stock markets, driven down by more bad U.S. economic news, battered investor confidence. Light, sweet c...

Japan's central bank keeps interest rates on hold despite global chaos

Fri, 21 Nov 2008 04:12:52 +0000

TOKYO - Japan's central bank has decided to keep its key interest rate unchanged despite further signs of rapidly deteriorating conditions at home an in the global economy. The Bank of Japan says t...

The U.S. is calling a meeting of world regulators amid global crisis

Fri, 21 Nov 2008 03:53:11 +0000

WASHINGTON - The chairman of the U.S. securities regulator has convened a meeting of international regulators for next week to deal with urgent regulatory issues stemming from the global financial cri...

Argentine Senate approves pension plan takeover

Fri, 21 Nov 2008 03:25:27 +0000

BUENOS AIRES, Argentina - Argentina's Senate passed a bill to nationalize US$23 billion in private pension funds on Thursday in a move that analysts say could protect retirees from short-term stock ma...

Argentine Senate approves pension nationalization

Fri, 21 Nov 2008 02:19:04 +0000

BUENOS AIRES, Argentina - Argentina's Senate has approved a state takeover of US$23 billion in private pension funds. Lawmakers voted 46-18 in favour of the nationalization late Thursday, bringing ...

Rescue plan for auto industry sought by Detroit collapsed

Fri, 21 Nov 2008 01:55:02 +0000