610 CKTB - Business News

Venezuela's Chavez says oil prices will keep rising, attacks falling US dollar

Fri, 04 Jul 2008 00:11:12 +0000

CARACAS, Venezuela - Venezuelan President Hugo Chavez said Thursday that oil prices will continue spiralling upward as world reserves decline and consumption in wealthy countries including the United ...

Fort St. John expected to handle oil and gas boom well: mayor

Thu, 03 Jul 2008 22:48:10 +0000

Fort St. John, B.C., - which bills itself as "The Energetic City" - will be able to avoid many of challenges that have become synonymous with the oilsands boomtown of Fort McMurray, Alta., the city's ...

Mutual fund sales between $1.46 billion and $1.96 billion in June, IFIC says

Thu, 03 Jul 2008 22:24:01 +0000

TORONTO - Preliminary sales numbers suggest net mutual fund sales for June were between $1.46 and $1.96 billion, the Investment Funds Institute of Canada said Thursday. IFIC estimated that net asse...

Canada trying to open up cellphone industry with spectrum auction

Thu, 03 Jul 2008 22:24:04 +0000

MONTREAL - Cellphones are among the most popular consumer products and an online auction taking place to open up competition in Canada's wireless industry is eventually expected to help consumers. ...

Viterra tells union 'rotating lockout' to begin next week for Sask workers

Thu, 03 Jul 2008 22:23:56 +0000

REGINA - Grain handler Viterra Inc. (TSX:VT) plans to implement a "rotating lockout" next week for its Regina office and Saskatchewan operations and maintenance workers who rejected the company's late...

Wall Street firms reduce, banks step up U.S. Federal Reserve loans

Thu, 03 Jul 2008 22:23:59 +0000

WASHINGTON - Wall Street companies sharply scaled back their borrowing from the U.S. Federal Reserve's emergency lending program over the past week while commercial banks boosted it slightly. A Fed...

Duncan confident Ontario isn't poised for a recession, despite Q1 decline

Thu, 03 Jul 2008 22:24:02 +0000

TORONTO - Finance Minister Dwight Duncan expressed confidence Thursday that Ontario will avoid a recession even though fresh numbers indicate the province is already halfway there. Newly released g...

Banks see Canada's economy rebounding, but rough times for Ontario

Thu, 03 Jul 2008 22:23:59 +0000

OTTAWA - Canada's national economy got a mild vote of confidence from two chartered banks Thursday as they forecast moderate growth this year and next, but a rougher ride ahead for Ontario's industria...

Jazz Air cutting 270 workers as costly fuel forces capacity reduction

Thu, 03 Jul 2008 20:55:41 +0000

HALIFAX - Travellers will find job and service cuts at Jazz Air results in fewer direct flights between the country's smaller cities and rising prices for air travel, an aviation industry expert predi...

Financials help TSX to a positive close; NY mainly higher on jobs data

Thu, 03 Jul 2008 20:55:40 +0000

TORONTO - A late day burst of strength in bank stocks helped the Toronto stock market claw back some of Wednesday's tumble which was sparked by worries about slowing economic conditions. New York s...

Chrysler, not General Motors, in biggest danger, analyst says

Thu, 03 Jul 2008 20:55:46 +0000

DETROIT - Faced with soaring gas prices, a sputtering economy and a rapid market shift in the United States away from trucks, the U.S. auto industry's weakest player, Chrysler, may have to file for ba...

TSX higher but selling pressure continues on mining stocks;NY up on jobs data

Thu, 03 Jul 2008 20:04:10 +0000

TORONTO - The Toronto stock market was slightly higher mid-afternoon Thursday as commodity stocks lost ground for a second day on worries about how slowing economic conditions will cut demand. New ...

Duncan confident Ontario not poised for recession, despite decline in Q1

Thu, 03 Jul 2008 20:04:22 +0000

TORONTO - Ontario Finance Minister Dwight Duncan expressed confidence Thursday that the province will avoid a recession even though numbers show the province is already halfway there. Newly release...

Oil prices settles above US$145 a barrel for first time ahead of U.S. holiday

Thu, 03 Jul 2008 20:04:12 +0000

NEW YORK - Oil prices raced above US$145 a barrel for the first time Thursday as traders added to their bets on the commodity ahead of the long holiday weekend in the United States. There was littl...

TSX flat as selling pressure continues on mining stocks;NY finishes higher on data

Thu, 03 Jul 2008 19:08:55 +0000

TORONTO - The Toronto stock market was little changed mid-afternoon Thursday as commodity stocks lost ground for a second day on worries about how slowing economic conditions will cut demand. New Y...