BUSINESS Breaking News
View seven day Business Archive for previous Winnipeg Free Press stories.
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Power Corporation of Canada raising dividend despite lower investment gains
THE CANADIAN PRESS MONTREAL - Power Corporation of Canada (TSX:POW) is raising its quarterly dividend by 20 per cent, the holding company announced Friday along with its first-quarter financial report, which included higher net income despite lower investment gains <Continued> -
Agnico-Eagle bullish about prospects with new mines coming onstream: CEO
THE CANADIAN PRESS TORONTO - The chief executive of Agnico-Eagle Mines Ltd. (TSX:AEM) says the mid-tier miner is poised for strong growth this year as more projects come on stream alongside an anticipated return to climbing gold prices. <Continued> -
Crescent Point posts Q1 loss of $41.5M, reversing year-ago profit of $157.5M
THE CANADIAN PRESS CALGARY - Crescent Point Energy Trust (TSX:CPG.UN) posted a first-quarter loss of $41.5 million on Friday, reversing year-ago profit of $157.5 million. <Continued> -
High Liner Foods' net income $7.2 million in '07; CEO predicts price hikes
THE CANADIAN PRESS HALIFAX - The CEO of High Liner Foods Inc. (TSX:HLF) says product price hikes appear inevitable given the rise in commodity and fuel costs worldwide. <Continued> -
U.S. housing aid bill faces veto by President Bush, Republican opposition
THE ASSOCIATED PRESS WASHINGTON - U.S. Democrats' plans to help hundreds of thousands of homeowners struggling with rising subprime mortgage rates and plummeting house values could be sidetracked by President Bush's threatened veto and the opposition of many congressional Republicans. <Continued> -
Aeroplan Income Fund to convert to a growth-oriented corporation
THE CANADIAN PRESS MONTREAL - Aeroplan Income Fund (TSX:AER) plans to reorganize from an income trust into a "growth-oriented, dividend-paying" public corporation, the loyalty program operator announced Friday. <Continued> -
Industrial Alliance buys Aegon Dealer Services, Money Concepts Canada
THE CANADIAN PRESS TORONTO - Industrial Alliance Insurance and Financial Services Inc. (TSX:IAG) is continuing its wealth-management expansion with a deal to take over National Financial Corp., whose operations include Aegon Dealer Services Canada, Money Concepts (Canada) and National Financial Insurance Agency. <Continued> -
Gaz Metro reports 2008 second quarter profits of $120.1 million, up $15.8 million
THE CANADIAN PRESS MONTREAL - Gaz Metro Limited Partnership (TSX:GZM.UN), Quebec's largest natural gas distributor, reported higher net profits in the latest quarter as the company generated higher revenues and one-time gains. <Continued> -
Diageo brews Irish Guinness overhaul, will lay off 250, close two breweries
Shawn Pogatchnik, THE ASSOCIATED PRESS DUBLIN, Ireland - Guinness beer owner Diageo PLC rattled an Irish icon Friday, announcing plans to lay off more than half of its brewery workers, close two breweries and shift most beer production to a new, high-tech plant in the Dublin suburbs by 2013. <Continued> -
Pure announces acquisition of Price Brothers (UK) Ltd. for US$3.25 million
THE CANADIAN PRESS CALGARY - Infrastructure monitoring company Pure Technologies Ltd. (TSXV:PUR) says it has bought Price Brothers (UK) Ltd., a British company, for US$3.25 million. <Continued> -
Citigroup to shed $500 billion in assets in recovery plan
Madlen Read, THE ASSOCIATED PRESS NEW YORK - Citigroup Inc. said Friday it aims to shed about US$500 billion in assets and grow revenue by nine per cent over the next few years, as it tries to rebound from massive losses tied to deterioration in the mortgage and credit markets. <Continued> -
ACE Aviation Q1 loss $182M on cargo cartel probes: another $500M share buyback
THE CANADIAN PRESS MONTREAL - ACE Aviation Holdings Inc. (TSX:ACE.A, TSX:ACE.B) is buying back and cancelling another half-billion dollars worth of its shares as the parent of Air Canada continues dismantling itself. <Continued> -
GMP Capital Trust Q1 profit halved to $21M; revenue off' per cent to $94.1M
THE CANADIAN PRESS TORONTO - GMP Capital Trust (TSX:GMP.UN) suffered an' per cent drop in first-quarter revenue and a 53 per cent profit setback in "challenging market conditions." <Continued> -
Chinese producer prices keep surging: up 8.1 per cent year-over-year
Elaine Kurtenbach, THE ASSOCIATED PRESS SHANGHAI, China - China's producer price index, a key indicator of inflation, rose 8.1 per cent in April over the same month a year earlier, the government reported Friday, as a top economic official sought new controls to cool rising prices. <Continued> -
Canadian Space Agency announces four-year deal with MDA
THE CANADIAN PRESS LONGUEUIL, Que - Only hours after confirming his decision to block a controversial foreign takeover of part of MacDonald Dettwiler and Associates Ltd. (TSX:MDA), federal Industry Minister Jim Prentice announced a major contract Friday between the company and the Canadian Space Agency. <Continued> -
Manitoba Telecom Q1 profit $54.2M; revenue up 2.6 per cent to $478.8M
THE CANADIAN PRESS WINNIPEG - Manitoba Telecom Services Inc. (TSX:MBT) has reported a modest rise in first-quarter revenue and profit as wireless, high-speed Internet, digital television and other growth services expanded' per cent. <Continued> -
U.S. trade deficit shrinks in March as economic weakness cuts imports
Martin Crutsinger, THE ASSOCIATED PRESS WASHINGTON - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. <Continued> -
Trade surplus expands for the third straight month in March
THE CANADIAN PRESS OTTAWA - Canada's merchandise trade surplus with the world expanded for the third straight month in March as exports grew and imports declined. <Continued> -
New York market outlook glum, TSX could rise as oil tops US$125 a barrel
THE CANADIAN PRESS TORONTO - The Toronto stock market was little changed late Friday morning as energy stocks stepped back despite higher oil prices while the market found buoyancy from the financial sector despite more jarring news from the U.S. insurer American International Group Inc. <Continued> -
Unemployment rate rises to 6.1 per cent in April despite',200 job gains
THE CANADIAN PRESS OTTAWA - The Canadian economy is showing signs of sputtering in the face of stiffening headwinds from the U.S. slump and ongoing tight credit conditions. <Continued> -
Federal government confirms decision to reject foreign takeover of Radarsat
THE CANADIAN PRESS TORONTO - The federal government has confirmed its decision to block a controversial foreign takeover of part of Canada's premier space technology firm, saying the proposed deal would not benefit the country. <Continued> -
Fording says Elk Valley average coal price expected to be US$275 per tonne
THE CANADIAN PRESS CALGARY - Fording Canadian Coal Trust (TSX:FDG.UN, TSX:TCK.B) said Thursday that the average price for the 2008 coal year is expected to nearly triple compared with a year ago. <Continued> -
RIM's Balsillie says Canadians need to make their voices heard
THE CANADIAN PRESS TORONTO - Canadians need to become more involved in global issues and make their voices heard, RIM (TSX:RIM) co-chief executive Jim Balsillie said Thursday night. <Continued> -
Canadian company nixes Idaho for ethanol plant, picks Saskatchewan
THE ASSOCIATED PRESS IDAHO FALLS, Idaho - A Canadian biotechnology company has decided to build a cellulosic ethanol plant in Saskatchewan, rather than southeast Idaho. <Continued> -
Quebecor reports Q4 loss of $962.6 million on loss at Quebecor World
THE CANADIAN PRESS MONTREAL - Quebecor Inc. (TSX:QBR.B) said Thursday it lost $962.6 million in its fourth quarter, as the company took a $1.88-billion goodwill-impairment charge related to its troubled Quebecor World subsidiary. <Continued> -
Cascades announces job cuts to stem first-quarter net loss of $4 million
Sylvain Larocque, THE CANADIAN PRESS MONTREAL - Tissue and cardboard maker Cascades Inc. (TSX:CAS) said Thursday it will cut 155 jobs to try and regain profitability after reporting a first-quarter loss of $4 million. <Continued> -
Seniors, hard-pressed Canadians given leeway to raid locked-in RRSP plans
Julian Beltrame, THE CANADIAN PRESS OTTAWA - Seniors and Canadians facing hardships will be allowed to withdraw up to $22,450 from their federally regulated pension savings accounts, including locked-in RRSPs, under changes announced Thursday by the federal government. <Continued> -
CNQ net profits soar to $727 million from $269 million last year:
THE CANADIAN PRESS CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ) says it will take a prudent approach to future spending, even as soaring commodity prices led to a sharp increase in its first-quarter profits. <Continued> -
AIG posts Q1 loss of US$7.8B, plans to raise $12.5B in capital
Stephen Bernard, THE ASSOCIATED PRESS NEW YORK - American International Group Inc. said Thursday that it swung to a first-quarter loss of US$7.81 billion because of losses tied to credit swaps and mortgage-related operations and that it plans to raise a total of $12.5 billion in new cash to shore up its capital base. <Continued> -
Investment companies reduce emergency borrowing from Fed
Jeannine Aversa, THE ASSOCIATED PRESS WASHINGTON - Wall Street investment companies have reduced borrowing from the Federal Reserve's emergency lending program, a sign that credit problems may be easing a bit. <Continued> -
Chrysler unleashes Dodge Challenger into an uncertain market
Dee-Ann Durbin, THE ASSOCIATED PRESS BRAMPTON, Ont. - The 2008 Dodge Challenger began rolling off the assembly line Thursday into an uncertain market that could embrace the nostalgic muscle car or reject it for its gas-guzzling excess. <Continued> -
GM to pay up to US$200M to help end American Axle strike
Tom Krisher, THE ASSOCIATED PRESS DETROIT - General Motors Corp. has agreed to kick in up to US$200 million to help bring an end to a bitter 10-week strike at parts supplier American Axle and Manufacturing Holdings Inc. <Continued> -
Gas jumps nearly three cents to record; oil crosses US$124
John Wilen, THE ASSOCIATED PRESS Oil prices surpassed a record US$126 per barrel Friday on the eve of the U.S. driving season as a weakening dollar drove investors to snap up commodities. <Continued> -
Irving Oil, Couche-Tard expand partnership in Atlantic Canada, U.S.
Michael Tutton, THE CANADIAN PRESS HALIFAX - Irving Oil Ltd. is shifting the operation of 252 of its convenience stores to Alimentation Couche-Tard Inc. - allowing the Quebec company to push into the U.S. northeast and giving New Brunswick's Irving family a timely injection of cash. <Continued> -
Automaker Toyota expects first full-year sales slide in nine years
Yuri Kageyama, THE ASSOCIATED PRESS TOKYO - Battered by a slumping North American auto market and unfavourable currency swings, Toyota is forecasting a double barrel of bad news this fiscal year: its first year-on-year sales slide in nine years and first profit slip in seven years. <Continued> -
Air Canada reduces first-quarter operating loss despite soaring fuel costs
Ross Marowits, THE CANADIAN PRESS MONTREAL - Air Canada (TSX:AC.A) lost $288 million in the traditionally slow first quarter after taking a $125 million provision relating to cargo price-fixing investigations by competition authorities in the United States, Canada and Europe. <Continued> -
Shoppers Drug chief sees healthy growth on the road ahead
David Paddon, THE CANADIAN PRESS TORONTO - Shoppers Drug Mart Corp. (TSX:SC) sees plenty of room to grow in Quebec, the West and even in Ontario, where Canada's largest pharmacy chain already has about half its stores, the company's chief executive told the annual shareholders meeting Thursday. <Continued> -
Timminco says consultant sees potential for massive growth in silicon operation
THE CANADIAN PRESS TORONTO - Timminco Ltd. (TSX:TIM) said Thursday that it has signed a second deal to supply solar grade silicon to Solar Power Industries Inc. <Continued>
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View seven day Business Archive for previous Winnipeg Free Press stories.
