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Imperial Oil board of directors to make decision on Kearl in early 2009

CALGARY - Imperial Oil Ltd.'s (TSX:IMO) board is set to make a decision early next year on whether to go ahead with its controversial $8-billion Kearl oilsands mine, which is expected to start up in 2012 rather than its original target date of 2010, a company spokesman said. Updated 6:45 PM

1. Imperial Metals reports Q2 profit of $44.2 million, up from year ago

   VANCOUVER - Imperial Metals Corp. (TSX:III) said Thursday it earned $44.2 million, up sharply from a year ago, as revenue improved more than 30 per cent. Updated 6:45 PM

2. Alamos Gold reports to Q2 profit of $6.2 million, up from year ago

   TORONTO - Alamos Gold Inc. (TSX:AGI) reported Thursday a second-quarter profit of $6.2 million, up from $1.9 million a year ago, as sales increased more than 50 per cent. Updated 6:45 PM

3. Thompson Creek reports Q2 profit of US$60.4 million, up from year ago

   TORONTO - Thompson Creek Metals Co. Inc. (TSX:TCM) earned a second-quarter profit of US$60.4 million compared with a profit of $56.8 million a year ago, the company said Thursday. Updated 6:45 PM

4. Cinram reports Q2 loss of US$7.1M compared with $26.6M loss a year ago

   TORONTO - Cinram International Income Fund (TSX:CRW.UN) said Thursday that it narrowed its second-quarter loss compared with a year ago as revenue increased nearly 20 per cent. Updated 6:40 PM

5. H&R REIT reports second quarter net profits of $32.9 million

   TORONTO - H&R Real Estate Investment Trust (TSX:HR.UN), a Toronto-based owner of commercial properties, reported it earned $32.9 million in the second quarter, reversing a big loss last year. Updated 6:40 PM

6. Penn West widens Q2 loss to $ $323 million from year-ago $186 million.

   CALGARY - Penn West Energy Trust (TSX:PWT.UN) widened its second-quarter loss to $323 million from $186 million a year ago as the trust took an $837-million non-cash charge related to risk management activities Updated 6:40 PM

7. Most actively traded companies on Canadian stock markets

   TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange: Updated 6:40 PM

8. Caisse increases stake in Canadian Royalties with purchase of 2.1 million shares

   MONTREAL - Caisse de depot et placement du Quebec said Thursday it has increased its stake in Canadian Royalties Inc. (TSX:CZZ) with the purchase of 2.1 million shares in the company. Updated 6:40 PM

9. 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. Updated 4:30 PM

10. Toyota first-quarter profit falls on US weakness, strong yen

    TOKYO - Toyota said Thursday that its fiscal first-quarter profit plummeted 28 per cent and stuck to its forecast that full-year profit with fall for the first time in seven years as it faces more problems from the weakening U.S. market. Updated 1:10 PM

11. 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 cent increase in its quarterly profits. Updated 6:40 PM

12. CEO of Pininfarina, company that designs Ferraris, dies in accident in Italy

    MILAN, Italy - Reports say Andrea Pininfarina, chief executive of the family Italian car design firm that counts Ferraris and Alfa Romeos among its creations, died Thursday in an accident near the northern city of Turin. Updated 12:05 PM

13. Citigroup returning billions to investors in settlement with SEC

    WASHINGTON - Citigroup Inc. will buy back more than US$7 billion in auction-rate securities and pay $100 million in fines as part of settlements with U.S. federal and state regulators, who said the bank marketed the investments as safe despite liquidity risks. Updated 6:45 PM

14. Lundin Mining posts US$108 million loss in second quarter after asset writedowns

    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 Portugal and warning more charges could follow. Updated 1:10 PM

15. Canadian Tire profits down 20.3 per cent to $97.7M on charges, sales up 4 per cent

    TORONTO - Canadian Tire Corp. (TSX:CTC.A) reported a more than 20 per cent drop in second-quarter profit compared with a year ago and lowered its earnings forecast Thursday as the retailer said it was hit by poor weather and a slowing economy. Updated 6:40 PM

16. Kingsway Financial recovers from first-quarter loss but Q2 profit below year-earlier

    TORONTO - Vehicle insurer Kingsway Financial Services Inc. (TSE:KFS) returned to overall profitability in the second quarter despite tough market conditions, reporting a profit of US$6.3 million. Updated 10:50 AM

17. Imax Q2 loss nearly triples, revenue falls 21 per cent

    TORONTO - Imax Corp. (TSX: IMX) says its second-quarter revenue fell and net loss increased dramatically compared with last year. Updated 10:45 AM

18. American retailers report mixed sales results in July; outlook grim

    NEW YORK - The outlook for the American back-to-school shopping season looked grim Thursday, as retailers' July sales reports showed an increasing shift toward buying necessities like food and household supplies at discounters and away from discretionary splurges on clothing. Updated 10:40 AM

19. Enerplus hikes distributions to unitholders as cash flow soars

    CALGARY - Enerplus Resources Fund (TSX:ERF.UN) says it will increase its monthly cash distribution to unitholders by 12 per cent, thanks to strong commodity and record production volumes. Updated 10:35 AM

20. ArcelorMittal spends $1.6B to expand in Brazil

    BRUSSELS, Belgium - ArcelorMittal SA will spend US$1.6 billion to build new steelworks that will supply surging demand in Brazil, the world's largest steel maker said Thursday. Updated 10:35 AM

21. Pending home sales in the United States rise 5.3 per cent

    WASHINGTON - A measurement of pending home sales rose in June in a rare piece of positive news for the beleaguered American housing market. Updated 10:35 AM

22. Manulife raises dividend, Q2 profit down nine per cent in volatile conditions

    TORONTO - Manulife Financial Corp. (TSX:MFC) raised its dividend eight per cent even as second-quarter profits fell nine per cent to $998 million from a year-ago $1.1 billion, citing a good operational performance relative to volatile market conditions. Updated 9:05 AM

23. Lexus once again tops JD Power automobile dependability study

    NEW YORK - Lexus once again stands alone atop a closely watched list of vehicle dependability after Buick slipped from the No. 1 spot it shared with the Japanese luxury brand last year, J.D. Power and Associates said Thursday. Updated 9:05 AM

24. GLV Inc. first-quarter profit improves to $2.1 million from year-ago $300,000

    MONTREAL - Industrial water and pulp treatment firm GLV Inc. (TSX:LVG.A) reported Thursday a first-quarter profit of $2.1 million, improved from a year-ago $300,000 as consolidated revenues rose 26.2 per cent to $145.5 million. Updated 9:05 AM

25. Paladin Labs Q2 net profit falls to $2.6 M from $5.9 M, but revenues rise

    MONTREAL - Paladin Labs Inc. (TSX:PLB), a Montreal-based specialty pharmaceutical company, reported its second quarter net profits fell to $2.6 million from $5.9 million and the company faces a potential new tax bill of nearly $14 million from a previous acquisition. Updated 9:00 AM

26. 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.B) Cannondale and GT bikes in their quest for gold. Updated 2:45 PM

27. Jobless claims rise to highest since March 2002

    WASHINGTON - The number of newly laid off people signing up for jobless benefits in the United States last week unexpectedly climbed to its highest point in more than six years as the faltering economy forced companies to cut back. Updated 10:35 AM

28. Wal-Mart July same-store sales rise three per cent

    BENTONVILLE, Ark. - Wal-Mart Stores says its July same-store sales rose three per cent, slightly less than expectations, as tax-rebate checks dried up and consumers spent closer to their paycheque cycle. Updated 8:10 AM

29. Bay Street braces for flood of corporate earnings

    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. Updated 3:55 PM

30. June's national drop in value of building permits widespread among provinces

    OTTAWA - The residential and non-residential sectors both dropped as the total value of building permits in June fell 5.3 per cent from May to $6.3 billion. Updated 8:00 AM

31. 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 further reduce costs amid continuing quarterly losses. Updated 4:40 PM

32. Canadian Natural raises cost for Horizon oilsands startup to $9.27 billion

    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 million on risk-management activities. Updated 2:45 PM

33. Metro Inc. to spend $200 million unfurl its banner 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 the Metro moniker. Updated 4:40 PM

34. Bennett Environmental reports Q2 loss of $2.8 million, sales down

    OAKVILLE, Ont. - Bennett Environmental Inc. (TSX:BEV) reported Wednesday a loss of $2.8 million, compared with a loss of $1.9 million a year ago, as revenue dropped sharply. Updated 8:45 PM 08/06/08

35. Retirement savings company Nationwide Financial agrees to US$2.4-billion buyout

    COLUMBUS, Ohio - Nationwide Mutual Insurance Co. said Wednesday that it will buy out its publicly traded retirement savings company Nationwide Financial Services Inc. for about US$2.4 billion. Updated 8:45 PM 08/06/08

36. Internet search leader Google launches free music search service in China

    LOS ANGELES - Google Inc. said Wednesday that it has launched a music search service in China that allows users to access music legally online in a forum backed by some record labels and supported by advertising revenue. Updated 8:45 PM 08/06/08

37. CNQ says Horizon expected to cost $9.27 billion, up from earlier estimates

    Canadian Natural Resources Ltd. (TSX:CNQ) said Wednesday that costs at its Horizon Oil Sands Project are expected to be eight per cent higher than recent estimates as construction at the project nears completion. Updated 8:45 PM 08/06/08

38. Lakeview Hotel REIT buys Ottawa hotel for $10.5 million

    WINNIPEG - Lakeview Hotel Real Estate Investment Trust (TSXV:LHR.UN), a Winnipeg-based property owner, says it has acquired the 81-room Days Inn at the Ottawa Airport for $10.5 million. Updated 8:40 PM 08/06/08

39. Sale of Maax to Brookfield approved by U.S. and Canadian courts

    MONTREAL - Canadian bathtub supplier Maax Corp., which is operating under court protection from creditors, said Wednesday courts in the Canada and the United States have approved the sale of the company to Brookfield Bridge Lending Fund Inc. Updated 8:40 PM 08/06/08

40. Andrew Peller reports Q1 profit of $2.7 million, down from year ago

    GRIMSBY, Ont. - Winemaker Andrew Peller Ltd. (TSX:ADW.A) said Wednesday that it earned $2.7 million, down from $.29 million a year ago, as revenue increased 4.3 per cent. Updated 8:40 PM 08/06/08

41. Burntsand reports Q2 loss of $265,000 as loonie takes bite from revenue

    TORONTO - Burntsand Inc. (TSX:BRT) said Wednesday it lost $265,000, compared with a loss of $609,000 a year ago, as the strengthening loonie took a bite out of the company's revenues. Updated 8:40 PM 08/06/08

42. Ohio executives sentenced for US$1.9-billion corporate fraud case

    COLUMBUS, Ohio - A U.S. federal judge on Wednesday handed down the first sentences to defendants convicted in a US$1.9-billion corporate fraud case that federal prosecutors compared to the Enron or WorldCom scandals. Updated 8:40 PM 08/06/08

43. AIG loses more than $5 billion on credit market troubles

    NEW YORK - American International Group Inc. said Wednesday that it lost more than US$5 billion in the second quarter, as struggling credit markets stripped several billions of dollars in value from its credit default swaps portfolio and other investments. Updated 8:35 PM 08/06/08

44. Shawcor reports Q2 profit of $32.8 million, up from year ago

    TORONTO - Shawcor Ltd. (TSX:SCL.A, TSX:SCL.B) said it earned $32.8 million, up from $30.2 million a year ago, as revenue gained seven per cent. Updated 8:35 PM 08/06/08

45. TransAlta: $39-per-share takeover offer by U.S. firms undervalues company

    CALGARY - TransAlta Corp.'s (TSX:TA) is not interested in talking with two U.S. private equity firms about their proposed all-cash $39-per-share takeover offer, the Calgary-based power producer said Wednesday. Updated 8:35 PM 08/06/08

46. Shawcor reports Q2 profit of $32.8 million, up from year ago

    TORONTO - Shawcor Ltd. (TSX:SCL.A, TSX:SCL.B) said it earned $32.8 million, up from $30.2 million a year ago, as revenue gained seven per cent. Updated 8:35 PM 08/06/08

47. Regional airline Jazz Air Income Fund reports Q2 profit of $23.6M

    HALIFAX - Jazz Air Income Fund (TSX: JAZ.UN) said Wednesday it earned $23.6 million in the second quarter, compared with a loss of $33 million a year ago, when the fund took a big charge for future income taxes. Updated 8:35 PM 08/06/08

48. Newalta Income Fund reports Q2 profit of $11.8 million, up from year ago

    CALGARY - Newalta Income Fund (TSX:NAL.UN), which provides waste disposal services for the oil and gas and other industries, reported a 76 per cent increase in its second-quarter profit compared with a year ago, boosted by higher oil prices and acquisitions in Eastern Canada. Updated 8:35 PM 08/06/08

49. QuestAir third quarter loss narrows to $1.6 million from $2.6 million

    BURNABY, B.C. - QuestAir Technologies Inc. (TSX:QAR), a maker of gas purification systems for various industries, narrowed its net quarterly loss to just under $1.6 million from $2.6 million last year as the company became more efficient and cut costs. Updated 8:30 PM 08/06/08

50. UK insurer Standard Life first half profit up 54 per cent

    LONDON - British insurer Standard Life PLC reported a 54 per cent rise in first-half net operating profit Wednesday, boosted by one-off gains from a deal to reinsure annuity liabilities and cut the financial risk posed by Britons living longer. Updated 8:30 PM 08/06/08

51. Ford executive: Automaker met salaried cost-cut goal in North America

    DEARBORN, Mich. - A top Ford Motor Co. executive said Wednesday the company met its goal of cutting 15 per cent of its North American salaried costs by Aug. 1. Updated 8:30 PM 08/06/08

52. Charter REIT cuts second quarter net loss to $230,240 from $1.1 million last year

    TORONTO - Charter Real Estate Investment Trust (TSXV:CRH.UN), a Toronto-based retail and commercial property owner, narrowed its net loss sharply in the latest quarter. Updated 8:30 PM 08/06/08

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