Applications for US jobless benefits fall to 302,000; 4-week average lowest since June 2007
Jul 17, 2014 / 1:50 pm
WASHINGTON - The number of people seeking U.S. unemployment benefits fell last week, a steady decline that suggests a strengthening job market.Weekly applications for unemployment aid dipped 3,000 to a seasonally adjusted 302,000, the Labor Department said Thursday.The four-week average, a less...
Microsoft to eliminate up to 18,000 jobs over next year as it combines Nokia
Jul 17, 2014 / 1:50 pm
REDMOND, Wash. - Microsoft is cutting up to 18,000 jobs, about 14 per cent of its staff, over the next year as it works to cut down on management layers and integrate the Nokia devices business it bought in April.The news sent Microsoft's stock up 3 per cent in premarket trading.Although the job...
Disney titles coming to Netflix Canada about 8 months after theatrical release
Jul 17, 2014 / 1:50 pm
TORONTO - Disney titles are coming to Netflix Canada starting next year.On Thursday, Netflix Inc. and The Walt Disney Studios announced a multi-year exclusive licensing deal that will bring first-run Disney live-action and animated films to the popular streaming service.Starting in mid-2015,...
Canadian Pacific second-quarter profits rise to $371 million, revenues increase
Jul 17, 2014 / 1:50 pm
CALGARY - Canadian Pacific Railway Ltd. (TSX:CP) posted "record after record after record" in the second quarter despite the lingering effects of a harsh winter, CEO Hunter Harrison said Thursday in touting earnings results that surpassed expectations.Profits grew 48 per cent in the April-June...
Philip Morris International 2Q profit falls, stung by unfavourable currency exchange rates
Jul 17, 2014 / 1:50 pm
NEW YORK, N.Y. - Philip Morris International's second-quarter profit declined 13 per cent, stung by foreign exchange rates for the U.S. dollar.But its adjusted profit and revenue topped Wall Street's view. Its shares edged up in morning trading Thursday.The seller of Marlboro cigarettes and other...
Hard Rock Hotel & Casino to open at Lake Tahoe in old Horizon Resort; $60M renovation
Jul 17, 2014 / 1:50 pm
RENO, Nev. - The managers of the Hard Rock Hotel & Casino in Las Vegas have announced plans to open one at Lake Tahoe this winter after a $60 million renovation of the former Horizon Casino Resort at Stateline.Officials for the Las Vegas-based Warner Hospitality and the Tahoe-based Park family...
Bombardier leaves air show with CSeries momentum, but facing high risks: analysts
Jul 17, 2014 / 1:50 pm
MONTREAL - Bombardier left the Farnborough Airshow with some momentum in CSeries orders, but industry analysts say the company still faces key risks in developing and selling the commercial jetliner.Despite an engine mishap that has kept test flights grounded since late May, Bombardier racked up 66...
Millennials spending less time between jobs than older workers, but getting lower-paid jobs
Jul 17, 2014 / 1:50 pm
TORONTO - Millennials may be facing a tough job market, but they are the age group spending the least amount of time between jobs, according to an online jobs site.Monster Canada says recent numbers from Statistics Canada show that he average length of unemployment for youth has levelled off since...
Galen G. Weston takes over daily operations at Loblaw; Shoppers head to exit
Jul 17, 2014 / 1:50 pm
Galen G. Weston is taking more control of the family run business as he assumes the role of president at Loblaw Companies Ltd., Canada's largest grocer, amid the abrupt departure of two senior executives.Weston, who is also executive chairman of the company, said Thursday that previously his...
Loonie lower, markets risk-averse amid airliner crash, Mideast fighting
Jul 17, 2014 / 1:50 pm
TORONTO - The Canadian dollar closed lower Thursday with traders becoming risk averse in the wake of the crash of a Malaysian Airlines jetliner in eastern Ukraine.The currency lost 0.11 of a cent to 92.95 cents US, but found some support from higher oil and gold prices after Ukraine said a...
Toll operator 407 International sees profits fall by 40 per cent in Q2
Jul 17, 2014 / 1:50 pm
TORONTO - Toll highway operator 407 International Inc. says its second-quarter net income fell 40 per cent, even though revenues continued to grow.The company, which operates the Highway 407 electronic toll road that crosses the Greater Toronto Area, says net income fell to $45.4 million in the...
EPA: Duke finishes cleaning large pockets of coal ash from river after spill at NC plant
Jul 17, 2014 / 1:50 pm
RALEIGH, N.C. - Duke Energy has completed removal of large pockets of coal ash from the Dan River months after a massive spill at a North Carolina power plant, federal environmental officials said Thursday.The U.S. Environmental Protection Agency's on-scene co-ordinator, Myles Bartos, said Duke had...
Stocks close lower: Jet downing, expansion of Mideast fighting rattles investors
Jul 17, 2014 / 1:50 pm
TORONTO - The Toronto stock market closed in negative territory Thursday with traders largely avoiding risk in the wake of news that a Malaysian airliner with about 300 people on board crashed in Ukraine.The S&P/TSX composite index declined 21.86 points to 15,204.48.The market had been positive for...
Microsoft to cut 18,000 jobs over next year, largest layoffs in company history
Jul 17, 2014 / 1:24 pm
LOS ANGELES, Calif. - Microsoft announced the biggest layoffs in its history Thursday, saying it will cut 18,000 jobs as it streamlines its Nokia mobile device business to focus on using the Windows Phone operating system.Although the job cuts were expected, the extent of the eliminations is a...
Microsoft to cut 18,000 jobs
Jul 17, 2014 / 1:17 pm
Microsoft announced the biggest layoffs in its history Thursday, saying it will cut 18,000 jobs as it streamlines its Nokia mobile device business to focus on using the Windows Phone operating system. Although the job cuts were expected, the extent of the eliminations is a surprise, amounting to...
Law society revokes Garth Drabinsky's licence over fraud convictions
Jul 17, 2014 / 1:06 pm
TORONTO - Ontario's law society has revoked disgraced theatre impresario Garth Drabinsky's licence to practice law.He and business partner Myron Gottlieb served several years in prison for a fraud that ultimately resulted in the demise of now-defunct Livent Inc. — the company behind such...
US, Europe escalate sanctions on Russia; Obama says Ukraine actions 'have consequences'
Jul 17, 2014 / 12:20 pm
WASHINGTON - Struggling to defuse the persistent crisis in Ukraine, both the U.S. and European Union imposed new economic sanctions on Russia Wednesday, with President Barack Obama declaring that Russian leaders must see that their actions supporting rebels "have consequences."Though the American...
Cleanup underway, after 24 rail cars go off tracks near Moose Jaw, Saskatchewan
Jul 17, 2014 / 11:48 am
MOOSE JAW, Sask. - Emergency and Canadian Pacific Railway officials say there are no leaks from 24 rail cars that went off the tracks west of Moose Jaw, Sask.Tom Overs, commander of the Moose Jaw fire department, says the eastbound Canadian Pacific Railway (TSX:CP) train derailed about 2 p.m. local...
Oil price rises to over US$101 on large US stock draw, economic growth in China
Jul 17, 2014 / 11:42 am
Oil prices rose Wednesday on news of a large drain in U.S. oil inventories and a slight improvement in economic growth in China.Benchmark West Texas Intermediate crude for August delivery rose $1.24 to close at $101.20 a barrel on the New York Mercantile Exchange. On Tuesday, the Nymex contract...
Retrocom real estate trust to pay $179 million for 9 Walmart-anchored properties
Jul 17, 2014 / 10:34 am
TORONTO - The Retrocom REIT (TSX:RMM.UN) is preparing to buy nine Canadian investment properties, most anchored by Walmart stores, for a total of $179 million in two separate deals announced Wednesday.Seven of the properties will be acquired for $111 million from Calloway Real Estate Investment...
Average US mortgage rates decline slightly this week with 30-year dropping to 4.13 per cent
Jul 17, 2014 / 10:34 am
WASHINGTON - Average U.S. mortgage rates declined slightly this week with rates remaining near historic lows.Mortgage company Freddie Mac reported Thursday that the nationwide average for a 30-year loan dipped to 4.13 per cent, down from 4.15 per cent last week. The average for the 15-year...
Ontario judge OKs up to $122.66 million for creditors of Nortel's EMEA unit
Jul 17, 2014 / 9:32 am
TORONTO - An Ontario judge overseeing the Canadian portion of the Nortel Networks bankruptcy has approved a settlement on one of the side issues that involves creditors of an international division of the defunct telecom equipment giant.The agreement, which includes a number of conditional...
Tim's coffee shop of the future
Jul 17, 2014 / 7:41 am
If a pint of coffee-flavoured beer gets you salivating, then Tim Hortons has a few other ideas that could change how you think about the restaurant chain. Executives have lifted the curtain on a new concept store, buried deep inside the Metro Toronto Convention Centre, as part of an invite-only...
Oil price rises to over US$101 on large US stock draw, economic growth in China
Jul 17, 2014 / 6:54 am
Oil prices rose Wednesday on news of a large drain in U.S. oil inventories and a slight improvement in economic growth in China.Benchmark West Texas Intermediate crude for August delivery rose $1.24 to close at US$101.20 a barrel on the New York Mercantile Exchange. On Tuesday, the Nymex contract...
Tim Hortons hopes futuristic store gets ideas percolating with its owners
Jul 17, 2014 / 6:14 am
TORONTO - If a pint of coffee-flavoured beer gets you salivating, then Tim Hortons has a few other ideas that could change how you think about the restaurant chain.Executives have lifted the curtain on a new concept store, buried deep inside the Metro Toronto Convention Centre, as part of an...
Most actively traded companies on the TSX, TSX Venture Exchange
Jul 17, 2014 / 5:36 am
TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (15,226.34, up 145.02 points):BlackBerry Ltd. (TSX:BB). Communication equipment, services. Down $1.42, or 11.7 per cent, to $10.72 on 7.8 million shares....
First Nation pulls out of hearings into Grand Rapids oilsands pipeline
Jul 17, 2014 / 5:32 am
CALGARY - An aboriginal group that lives in northern Alberta's oilsands region has withdrawn from a regulatory hearing into the proposed Grand Rapids crude pipeline, but the Athabasca Chipewyan First Nation vowed to explore other ways to fight the $3-billion project.The ACFN announced late Tuesday...
Analyst removes 'sell' rating from Rogers, says challenge from Videotron overblown
Jul 17, 2014 / 5:30 am
TORONTO - With Rogers Communications (TSX:RCI.B) stock down nearly 12 per cent in the past six months — making it the worst performer among its Canadian peers — at least one analyst says the market seems to have factored in problems facing the Toronto-based company and overblown the...
Wave of smarter data collection could transform how Canada does business: IDC
Jul 17, 2014 / 5:26 am
TORONTO - A new wave of intelligent sensors, cameras and tracking devices is expected to sweep across Canada over the next few years, quickly transforming how business is done — much as smartphones took communications to a new level of performance.The forecast prepared by IDC Canada and...
Shares of BlackBerry lower after Apple, IBM announce business app partnership
Jul 17, 2014 / 4:46 am
TORONTO - Shares of BlackBerry (TSX:BB) took a beating Wednesday after details emerged on partnership between two of the world's biggest technology companies — Apple and IBM — that will cater to business customers.On the Toronto Stock Exchange, BlackBerry shares closed down 12 per...
TSX closes at record high as Chinese growth data beats expectations
Jul 17, 2014 / 4:40 am
TORONTO - Figures showing that the Chinese economy is on track for solid growth helped lift the Toronto stock market to a record-high close Wednesday.The S&P/TSX composite index ran ahead 145.02 points to 15,226.34 after data showed that the annual pace of Chinese economic growth rose to 7.5 per...
Outages from post-tropical storm Arthur costly for New Brunswick businesses
Jul 17, 2014 / 4:36 am
FREDERICTON - For five days, Colin Sifton was literally powerless as he watched residents of his town of Hampton, N.B., pack the Tim Hortons next door to his empty restaurant.Holly's Restaurant and Catering lost electricity on July 5 when post-tropical storm Arthur lashed the province, causing...
Baloney Meter: Claims on interprovincial trade barriers range from $2B to $50B
Jul 17, 2014 / 4:32 am
OTTAWA - "It has been estimated that internal trade barriers can add up to a $50-billion annual hit to Canada's economy." Industry Canada news release, June 17, 2014——The claim is made often and almost always without attribution.But is the claim correct? And what economic study...
Canadian dollar higher, Bank of Canada leaves key rate unchanged at one per cent
Jul 17, 2014 / 4:16 am
TORONTO - The Canadian dollar closed higher Wednesday even as the Bank of Canada left its key interest rate unchanged and warned that economic growth won't be as strong as expected.The loonie was up 0.11 of a cent to 93.06 cents US after earlier going as low as 92.66 cents as the central bank said...
Onex Corp. agrees to buy York Risk Management for US$1.33 billion
Jul 17, 2014 / 12:22 am
TORONTO - Onex Corp. is increasing its stake in the insurance sector by acquiring risk management firm York Risk Services Group Inc. for US$1.33 billion, the Toronto-based private equity firm said Wednesday.York Risk Services provides property, casualty and workers' compensation insurance to more...
Senate panel, delving into GM recall delay, to ask executive about role of legal department
Jul 16, 2014 / 9:24 pm
WASHINGTON - A Senate panel will pose questions to a new set of key players Thursday as it delves deeper into General Motors' delayed recall of millions of small cars.GM CEO Mary Barra will certainly be asked about how she's changing a corporate culture that allowed a defect with ignition switches...
Cda firms falling behind in investment; Ontario, Quebec particularly poor: paper
Jul 16, 2014 / 9:04 pm
OTTAWA - The C.D. Howe Institute says Canada is falling behind other countries in terms of business investment.In a new report, the public policy think-tank says the problem is particularly acute in Ontario and Quebec, where companies have hit a 10-year low in investment per worker over the past...
Maple Leafs only NHL team on Forbes list of most valuable sports franchises
Jul 16, 2014 / 7:30 pm
The Maple Leafs are the only NHL team on Forbes's list of the 50 most valuable franchises in sports, checking in at No. 26.According to Forbes, the Leafs are worth US$1.15 billion and have been the most valuable NHL team since 2005 despite making just one playoff appearance in that...
Free-speech faceoff in Regina pits preachers against boom box at shopping mall
Jul 16, 2014 / 7:30 pm
REGINA - Staff with the Regina Downtown Business Improvement District tried to chase away a group of evangelical ministers this week by drowning them out with a boom box in what appears to have been a free-speech faceoff.Mike Stockwell of Cross Country Evangelism, which is on a three-month tour...
Global airline traffic on pace to grow by 20% through 2016, says ICAO
Jul 16, 2014 / 6:02 pm
MONTREAL - Global air passenger traffic grew 5.5 per cent last year and is on pace to increase 20 per cent through 2016, according to the UN agency that governs civil aviation.The International Civil Aviation Organization says passenger traffic was up 0.2 percentage points from 2012 and should...
CP Rail to challenge arbitrator's ruling in court; called 'outrage'
Jul 16, 2014 / 5:04 pm
CALGARY - Canadian Pacific Railway Ltd. (TSX: CP) is going to court to block a ruling an arbitrator ordering that it reinstate a locomotive engineer who consumed cocaine "at a time and of a quantity which could impact his duties.""The arbitrator's decision is an outrage and, as a railroader, I am...
Barrick Gold CEO Jamie Sokalsky to step down as management undergoes changes
Jul 16, 2014 / 4:50 pm
TORONTO - Barrick Gold Corp. (TSX:ABX) announced the departure of president and CEO Jamie Sokalsky on Wednesday in a management shakeup that increases the influence of chairman John Thornton.The gold miner said Sokalsky will be replaced by senior executive vice-president Kelvin Dushnisky and...
Ontario's opposition parties warn the Liberals may sell provincial assets
Jul 16, 2014 / 3:42 pm
TORONTO - Ontario's opposition parties said Wednesday the Liberal government is not being honest with people about its plans to "maximize" the value of provincial assets like the Liquor Control Board, Ontario Power Generation and Hydro One.This week's provincial budget talked about "unlocking"...
BMW recalls 1.6M 3-Series cars to fix air bag problem that's affecting global auto industry
Jul 16, 2014 / 2:04 pm
DETROIT - BMW is expanding a recall of its most popular models to fix an air bag problem that is hitting much of the global auto industry.The German automaker says it will recall 1.6 million 3-Series cars from model years 2000 to 2006 across the world, including 574,000 in the U.S.The company said...
Bombardier secures few firm orders as tentative interest in CSeries mounts
Jul 16, 2014 / 1:34 pm
MONTREAL - Bombardier crossed the landmark order of 500 planes for both its Q400 turboprop and C series aircraft on Wednesday as it revealed three new agreements with international carriers.At the Farnborough Airshow in Britain, the Canadian manufacturer said it has secured tentative interest from...
Natural gas-rich Texas city rejects partial fracking ban; petition heads to voters
Jul 16, 2014 / 12:16 pm
DENTON, Texas - The council governing a North Texas city that sits atop a large natural gas reserve rejected a bid early Wednesday that would have made it the first city in the state to ban further permitting of hydraulic fracturing in the community.Denton City Council members voted down the...
US factory output rises for 5th straight month in June, boosting economy after dismal 1Q
Jul 16, 2014 / 12:14 pm
WASHINGTON - U.S. factory output increased for the fifth straight month in June as manufacturers cranked out more aircraft, chemicals and furniture. The modest gain underscored manufacturing's role in helping return the economy to growth after a grim first quarter.Factory production rose 0.1 per...
Rejected Fox bid for Time Warner underscores mood to consolidate
Jul 16, 2014 / 12:06 pm
NEW YORK, N.Y. - In a move that aims to counter consolidation among TV distributors, Rupert Murdoch's Fox has made an unsolicited takeover offer for rival media giant Time Warner for about $76 billion in cash and stock.Time Warner rejected the bid, which amounted to about $86.30 per share, but an...
US producer prices up 0.4 per cent in June on rising gas costs; overall inflation still mild
Jul 16, 2014 / 11:46 am
WASHINGTON - Rising gasoline costs pushed up the prices U.S. companies receive for their goods and services in June, but overall inflation remains tame.The Labor Department said Wednesday that the producer price index, which measures the cost of goods and services before they reach the consumer,...
Manufacturing sales up 1.6 per cent in May, fourth increase in five months
Jul 16, 2014 / 11:14 am
OTTAWA - Statistics Canada says manufacturing sales rose 1.6 per cent in May to $51.6 billion, the fourth increase in five months.Economists had expected a gain of 1.0 per cent, according to Thomson Reuters.Sales rose in 11 of 21 industries, representing about 61 per cent of the manufacturing...
Volkswagen passes General Motors to take second place in global auto sales race
Jul 16, 2014 / 11:12 am
DETROIT - Volkswagen bumped General Motors out of second place in the global auto sales race during the first half of the year, but Toyota is expected to stay in first place.GM said Wednesday that it sold 4.92 million cars and trucks worldwide from January through June. But VW said it sold 4.97...
Apple to pay $400 million to settle e-book price-fixing case unless company prevails in appeal
Jul 16, 2014 / 11:10 am
NEW YORK, N.Y. - Apple will pay up to $400 million to compensate consumers ensnared in a plot to raise the prices of digital books unless the company overturns a court decision attesting to its pivotal role in the collusion.The terms of the settlement disclosed in a Wednesday court filing came a...
Fed survey: US economy expanding in all regions of country, helped by consumer spending
Jul 16, 2014 / 11:08 am
WASHINGTON - A Federal Reserve survey indicates the economy kept expanding in all regions of the country in June and early July, helped by strength in consumer spending.All 12 of the Fed's regions reported growth with five — New York, Chicago, Minneapolis, Dallas and San Francisco —...
Scotiabank builds on Latin American presence with equities brokerage in Colombia
Jul 16, 2014 / 10:58 am
TORONTO - Scotiabank (TSX:BNS) is building on its presence in Latin America with a new trading and equities brokerage in Colombia.The bank says the opening is part of placing a priority on key countries in the region, which also include Peru, Mexico and Chile.Head of global equities, Pruyn Haskins,...
US preparing unilateral sanctions on Russia if Europe resists tougher actions
Jul 16, 2014 / 10:48 am
WASHINGTON - The United States is considering imposing unilateral sanctions on Russia over its threatening moves in Ukraine, a shift in strategy that reflects the Obama administration's frustration with Europe's reluctance to take tougher action against Moscow, according to U.S. and European...
Sling Media unveils 2 devices for out-of-home TV viewing, tries for in-home appeal
Jul 16, 2014 / 10:40 am
NEW YORK, N.Y. - Sling Media, the maker of devices that let people watch their cable channels while travelling, is trying to become more relevant in the living room.Traditionally, Sling's strength has been in so-called place shifting. Attached to the home cable box, the Slingbox device sends video...
Liberals revive bill to cut auto insurance rates and curb towing costs
Jul 16, 2014 / 10:04 am
TORONTO - Ontario's governing Liberals insist they can still reach their target of cutting auto insurance rates by an average of 15 per cent across the province, even though they're only a third of the way there with just a year to go.Rates have dropped an average of 5.44 per cent since the...
Most actively traded companies on the TSX, TSX Venture Exchange
Jul 16, 2014 / 8:22 am
TORONTO - Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (15,081.32, down 89.91 points):Pacific Rubiales Energy Corp. (TSX:PRE). Oil and gas. Down $1.09, or 5.36 per cent, to $19.25 on 11.1 million shares.Element...
BoC downgrades Canadian economy, keeps stimulative 1% interest rate in place
Jul 16, 2014 / 7:38 am
OTTAWA - The Bank of Canada says the economy is not doing as well as expected and will likely need stimulative monetary policy to stay in place for longer than previously thought to create the conditions for a sustainable recovery.In a mostly dovish monetary policy report, the bank's governing...
Oscar winner Halle Berry gives CBS the lead in weekly TV ratings with new show 'Extant'
Jul 16, 2014 / 7:20 am
NEW YORK, N.Y. - Halle Berry made her small screen debut at a spot befitting an Academy Award winner — first place in the television ratings — but it's too early to call her summer drama "Extant" a hit. The limited run series, in which Berry...
TSX lower amid falling crude oil prices, interest rate hike concerns
Jul 16, 2014 / 7:02 am
TORONTO - The Toronto stock market closed lower Tuesday amid concerns about higher interest rates and whether the market is set for a pullback.The S&P/TSX composite index lost 89.91 points to 15,081.32 as resource stocks fell alongside prices for oil and gold.The Canadian dollar was off 0.38 of a...
BoC downgrades economy
Jul 16, 2014 / 7:00 am
The Bank of Canada says the economy is not doing as well was expected and will likely need stimulative monetary policy to stay in place for longer than previously thought to create the conditions for a sustainable recovery. In a mostly dovish monetary policy report, the bank's governing...
Canadian dollar loses ground amid U.S. interest rate concerns, lower commodities
Jul 16, 2014 / 6:34 am
TORONTO - The Canadian dollar closed lower a day before the Bank of Canada delivers its latest announcement on interest rates.The loonie was down 0.38 of a cent at 92.95 cents US.The central bank is universally expected to hold its key rate at one per cent, where it's been since September 2010, as...
Minimum wage in 2013 same as 1975 in constant dollars: Statistics Canada
Jul 16, 2014 / 6:08 am
Statistics Canada says the average minimum wage in 2013 was almost identical to the 1975 minimum wage, in constant dollars. The agency says the average minimum wage was $10.14 in 2013 and the 1975 wage, expressed in 2013 dollars, was $10.13. Between 1975 and 2013, however, the minimum age in...
Toronto Mayor Rob Ford slams Ontario budget, says Liberals not curbing spending
Jul 16, 2014 / 6:02 am
TORONTO - Toronto Mayor Rob Ford is slamming the Ontario budget, saying the governing Liberals aren't serious about slaying their $12.5-billion deficit.But Finance Minister Charles Sousa says Toronto is getting billions of dollars from the province and Ford is asking for more money.The budget...
OSC to hold hearing on settlement agreement with former Sino-Forest executive
Jul 16, 2014 / 6:00 am
TORONTO - The Ontario Securities Commission has reached a proposed settlement with the former chief financial officer of Chinese forestry company Sino-Forest Corp., which collapsed under allegations of being a massive fraud.David Horsley is accused of not complying with Ontario securities law and...
Ready to polish your online brand? Here are some tips
Jul 16, 2014 / 5:44 am
Job seekers in today's increasingly competitive economy are highly encouraged to take the time to create the right online presence. Here are some expert tips:— Register your domain name in as many variants as you can find and as early as you can — even using likely misspellings. That...
Online brand increasingly important for job seekers - as long as it's done right
Jul 16, 2014 / 5:38 am
TORONTO - Chris Abraham may now be a leading social media and digital marketing expert, but his journey toward that job began with simple blog post.Abraham was working for a social media firm in the U.S. and struggling to move up the corporate ladder when a public relations agency noticed his...
Specialty chemicals company Albemarle buying Rockwood in cash-and-stock deal valued at $6.2B
Jul 16, 2014 / 5:30 am
BATON ROUGE, La. - Specialty chemicals company Albemarle is buying counterpart Rockwood Holdings Inc. in a cash-and-stock deal valued at about $6.2 billion.Rockwood shareholders will receive $50.65 in cash and 0.4803 of a share of Albemarle common stock for each share they own. The deal values...
US retail sales edge up just 0.2 pct. in June, a sign cautious consumers may restrain growth
Jul 16, 2014 / 5:26 am
WASHINGTON - U.S. retail sales increased slightly in June, evidence that consumers remain cautious despite steady job gains this year.Retail sales rose just 0.2 per cent last month, the Commerce Department said Tuesday, held back by a sharp drop at building and garden supply stores. Sales also fell...
Hewlett-Packard Interim Chairman Whitworth steps down to focus on personal health issues
Jul 16, 2014 / 5:16 am
PALO ALTO, Calif. - Hewlett-Packard's interim chairman, Ralph Whitworth, has resigned from the company's board to concentrate on personal health issues.Whitworth's resignation is effective on Wednesday. The technology products and services company said that its board will discuss appointing a new...
J&J 2Q profit rises 13 per cent to $4.33B, beats forecast on sales growth for new medicines
Jul 15, 2014 / 2:16 pm
Strong sales of several new drugs, particularly its hot new hepatitis medicine, lifted Johnson & Johnson's second-quarter profit by 13 per cent, topping analysts' expectations.The world's biggest maker of health care products raised its 2014 profit forecast for the second time since January,...
June home sales up 0.8% from May and 11.2% from year ago, CREA says
Jul 15, 2014 / 1:52 pm
OTTAWA - Canadian home sales heated up in June to their best pace since March 2010 after a sluggish start to the year due to the frigid winter and late spring.The Canadian Real Estate Association said Tuesday that sales through its Multiple Listings Service in June were up 0.8 per cent from May as...
Bombardier shines light on Q400 with new orders, launch of cargo-passenger model
Jul 15, 2014 / 1:34 pm
MONTREAL - Bombardier announced Tuesday agreements to sell six Q400 NextGen turboprop aircraft and launched a new cargo-passenger version of the popular plane at the Farnborough Airshow.Horizon Air Industries Inc. of Seattle, which operates the largest fleet of Q400 planes, ordered an additional...
Viewer's Choice pay-per-view to be shut down in September, Bell Media says
Jul 15, 2014 / 1:34 pm
TORONTO - Viewer's Choice, the pay-per-view movie and live event service that was once dominant in Eastern Canada, will soon be part of the entertainment graveyard alongside the VHS tape and Laserdisc.A Bell Media spokeswoman confirmed to The Canadian Press on Tuesday that it plans to shutter all...
Cigarette maker Reynolds to buy Lorillard in $25B deal; to sell some brands
Jul 15, 2014 / 11:38 am
RICHMOND, Va. - Joe Camel is bulking up to take on the Marlboro Man.Camel cigarette maker Reynolds American Inc.'s $25 billion deal to buy Newport maker Lorillard Inc. creates a formidable No. 2 tobacco company in the U.S. behind Marlboro maker Altria. It also creates a powerhouse in menthol...
Bombardier unveils a number of CSeries orders as airshow gets underway
Jul 15, 2014 / 10:38 am
MONTREAL - Interest in Bombardier's new CSeries jets appears to be gaining momentum with the plane maker announcing 24 new orders valued at more than US$1.5 billion Monday even though test flights have been halted and the aircraft grounded because of an engine problem.Chinese company Zhejiang Loong...
JPMorgan's second-quarter net income falls on lower investment banking and mortgage revenues
Jul 15, 2014 / 10:22 am
NEW YORK, N.Y. - JPMorgan Chase, the nation's largest bank by assets, said Tuesday its second-quarter earnings fell 9 per cent as revenue at its investment banking and mortgage businesses dropped.The bank's net income totalled $5.6 billion in the quarter after payments to preferred shareholders....
US businesses restock inventories at solid pace in May in anticipation of sales gains
Jul 15, 2014 / 10:20 am
WASHINGTON - U.S. companies restocked their store shelves and warehouses at a steady pace in May, a sign they expect sales will remain solid in the months ahead.Business stockpiles rose 0.5 per cent in May, the Commerce Department said Tuesday. That was down slightly from a 0.6 per cent gain in the...
Most actively traded companies on the TSX, TSX Venture Exchange
Jul 15, 2014 / 7:34 am
TORONTO - Some of the most active companies traded Monday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (15,171.23, up 45.73 points):Fortis Inc. (TSX:FTS.IR). Utilities. Down 44 cents, or 1.12 per cent, to $39.01 on 7 million shares.Bombardier Inc. (TSX:BBD.B)....
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