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Winnipeg Free Press - PRINT EDITION

Business Watch

By: Staff Writer

Posted: 08/2/2012 1:00 AM | Comments: 0

Confidence sagging

MANITOBA small-business owners are feeling less confident these days, but are still more upbeat than some of their counterparts in other provinces, according to a new survey by the Canadian Federation of Independent Business.

The CFIB said its latest monthly Business Barometer survey shows Manitoba's confidence index dipped 1.6 points to 64.5 in July.

That was the fifth-highest index level among the provinces, and was nearly four points higher than the national level of 60.9.

The CFIB said confidence was highest among Saskatchewan small businesses, at 72.0, and lowest in Prince Edward Island, which has an index of 52.7.

Advertising market soft

THE advertising market remains soft but it appeared to gain momentum during the second quarter, Torstar Corp. (TSX:TS.B) said Wednesday as it reported its latest quarterly results.

Torstar president and chief executive David Holland said the outlook for advertising revenue at the newspaper publisher's media business was unclear, but the trend was positive.

Torstar reported a second-quarter profit of $35.7 million or 44 cents per diluted share compared with a profit of $112.7 million or $1.42 per diluted share a year ago, when the company sold its stake in CTV Inc.

Bell city network ready

BELL Mobility has completed the first phase of its 4G wireless broadband expansion into the Manitoba market.

The Montreal-based firm said it has finished installing the infrastructure and establishing the network of retail outlets -- 50 in all -- needed to deliver the service and to sell smartphones and other mobile devices to customers in Winnipeg and a number of other southern Manitoba communities, including Selkirk and Steinbach.

Phase II of the expansion, which is already underway, will see it expand its infrastructure and retail networks to communities from Portage la Prairie to Brandon, the company said. That should be completed later this year, it added.

Avon results lacklustre

NEW YORK -- Avon Products said Wednesday its second-quarter net income fell 70 per cent, hurt by the stronger dollar and lower demand globally for its products.

The results showed yet another lacklustre performance for the direct-selling company, which has struggled for three years to turn around results.

The maker of beauty products including Skin So Soft lotion and mark cosmetics also said it has begun talks with federal investigators to possibly settle a long-running probe into allegations of bribery overseas.

-- staff / news services

Republished from the Winnipeg Free Press print edition August 2, 2012 B5

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