Yahoo! Canada Finance: Finance News

GM in talks to bring Chinese cars to India: report

Sat, 07 Nov 2009 08:28:00 GMT

AFP - NEW DELHI (AFP) - US auto giant General Motors is in advanced talks with its Chinese partners on a proposal to bring their vehicles to India, according to the Press Trust of India.

Bluebeat to battle EMI over Beatles songs

Sat, 07 Nov 2009 04:06:00 GMT

AFP - SAN FRANCISCO (AFP) - US online music service Bluebeat said it plans to fight British recording label EMI over rights to stream and sell versions of Beatles songs.

Shell Oil to pay California 19 mln dlrs over violations

Sat, 07 Nov 2009 03:15:00 GMT

AFP - SAN FRANCISCO (AFP) - Shell Oil Company will pay California more than 19 million dollars because of environmental violations at service stations throughout the state, officials said.

Warren Buffett's company says profit triples to $3.2B as derivatives soar

Sat, 07 Nov 2009 02:55:00 GMT

The Canadian Press - OMAHA, Neb. - Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said Friday that many of its other operating businesses struggled.

AutoCanada Income Fund reports Q3 profit compared with loss a year ago

Sat, 07 Nov 2009 02:02:00 GMT

The Canadian Press - EDMONTON - AutoCanada Income Fund (TSX:ACQ.UN) said Friday that it earned $5.1 million in its latest quarter compared with a loss of $38.3 million a year ago.

Regulators shut small banks in four states; marks 119 US bank failures this year

Sat, 07 Nov 2009 01:19:00 GMT

The Canadian Press - Regulators on Friday shut small banks in Georgia, Michigan, Minnesota and Missouri, bringing the number of bank failures this year to 119 amid the struggling economy and a cascade of defaults on loans.

Live Nation-Ticketmaster vote set for Jan. 8, past the expected closure

Sat, 07 Nov 2009 01:18:00 GMT

The Canadian Press - LOS ANGELES - In a tacit acknowledgment of a delay in their plan to combine, Live Nation Inc. and Ticketmaster Entertainment Inc. said in filings Friday that a shareholders meeting to approve the deal is set for Jan. 8.

Epcor Utilities reports quarterly loss compared with profit a year ago

Sat, 07 Nov 2009 00:50:00 GMT

The Canadian Press - EDMONTON - Epcor Utilities Inc. reported a loss in its most recent quarter on Friday compared with a profit a year ago.

Livingston trustees re-affirm support for CPPIB bid after Mullen makes offer

Sat, 07 Nov 2009 00:31:00 GMT

The Canadian Press - TORONTO - Trustees of Livingston International Income Fund (TSX:LIV.UN) re-affirmed their recommendation Friday that unitholders vote in favour takeover by group led by the Canada Pension Plan Investment Board after receiving a second offer by Mullen Group Ltd. (TSX:MTL).

Parkland Income Fund reports Q3 profit of $10.1M, down from year ago

Sat, 07 Nov 2009 00:11:00 GMT

The Canadian Press - RED DEER, Alta. - Parkland Income Fund (TSX:PKI.UN) said Friday that it earned $10.1 million in its latest quarter, down from a year ago.

Warren Buffett's company says Q2 profit triples to $3.2B as derivatives soar

Sat, 07 Nov 2009 00:11:00 GMT

The Canadian Press - OMAHA, Neb. - Warren Buffett's company said Friday that its third-quarter profit tripled as the improving economy and stock market boosted the value of Berkshire Hathaway Inc.'s derivative contracts.

Freddie Mac loses $6.3 billion, avoids request for aid for 2nd-straight quarter

Sat, 07 Nov 2009 00:10:00 GMT

The Canadian Press - WASHINGTON - Freddie Mac's losses narrowed to US$6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.

Joblessness at 10 per cent in U.S. for second time since Second World War

Sat, 07 Nov 2009 00:09:00 GMT

The Canadian Press - WASHINGTON - Just when it was beginning to look a little better, the U.S. economy relapsed Friday with a return to double-digit unemployment for only the second time since the Second World War and warnings that next year will be even worse than previously thought.

Regulators shut small banks in Georgia, Michigan; marks 117 U.S. bank failures

Sat, 07 Nov 2009 00:08:00 GMT

The Canadian Press - WASHINGTON - Regulators have shut small banks in Georgia and Michigan, bringing the number of bank failures this year to 117 amid the struggling economy and a cascade of defaults on loans.

General Donlee sales and profit fall in Q3

Fri, 06 Nov 2009 23:21:00 GMT

The Canadian Press - TORONTO - Machine parts maker General Donlee Income Fund (TSX: GDI.UN) said sales fell 36 per cent in the July-September period, citing the impact of the economic slowdown on the manufacturing industry.

Warren Buffett's company says Q3 profit triples to $3.2B as derivatives soar

Fri, 06 Nov 2009 23:20:00 GMT

The Canadian Press - OMAHA, Neb. - Warren Buffett's company says its third-quarter profit tripled as the improving economy and stock market boosted the value of Berkshire Hathaway Inc.'s derivative contracts.

Air Canada: no quick recovery

Fri, 06 Nov 2009 23:13:45 GMT

CBC - Air Canada's CEO says he's seeing the first signs of economic recovery, but he doesn't expect a return to full revenues at the Montreal-based airline for at least a year.

Gold miners pull TSX out of jobs-linked funk

Fri, 06 Nov 2009 23:06:00 GMT

Reuters - TORONTO (Reuters) - Toronto's main stock index ended higher for a fourth straight session on Friday as gold miners rallied around record high bullion prices, offsetting the index's fall at the outset on weak jobs data that fueled worry about economic recovery.

Air Canada posts net profit in third quarter, turns around year-ago loss

Fri, 06 Nov 2009 22:48:00 GMT

The Canadian Press - MONTREAL - Air Canada (TSX:AC.B) is seeing small signs of improvement in air travel but says a full recovery in its key business class could be least a year away, the airline's chief executive said Friday.

Judge vacates $1.26B ruling against PepsiCo; company to get its day in court

Fri, 06 Nov 2009 22:47:00 GMT

The Canadian Press - MILWAUKEE - A judge has tossed out a decision - for now at least - that could have cost PepsiCo Inc. $1.26 billion after the soft drink maker didn't respond to a lawsuit claiming it stole the idea for bottled water.

Freddie Mac loses US$6.3B, avoids request for aid for 2nd-straight quarter

Fri, 06 Nov 2009 22:45:00 GMT

The Canadian Press - WASHINGTON - Freddie Mac says its losses narrowed to US$6.3 billion in the third quarter and the company didn't need a federal cash infusion.

Obama signs bill extending US jobless benefits, homebuyer tax credit

Fri, 06 Nov 2009 22:40:00 GMT

The Canadian Press - WASHINGTON - President Barack Obama signed into law a $24 billion economic stimulus bill providing tax incentives to prospective homebuyers and extending unemployment benefits to the longtime jobless who have been left behind as the U.S. economy veers toward recovery.

Shares of auto parts company Magna International close up more than 14 per cent

Fri, 06 Nov 2009 22:26:00 GMT

The Canadian Press - TORONTO - Shares of Magna International Inc. (TSX:MG.A) jumped more than 14 per cent in trading Friday after the auto parts company reported a third-quarter profit of $51 million and was reported to be involved in a new auto palant in Russia.

Claude Resources narrows third quarter loss to $0.4 million from $1.7 million

Fri, 06 Nov 2009 22:25:00 GMT

The Canadian Press - SASKATOON - Claude Resources Inc. (TSX:CRJ), a small gold miner based in Saskatoon, reports its net loss narrowed in the third quarter to $0.4 million from $1.7 million.

Telus Q3 profit and revenue slip; revised 2009 guidance reflects weak economy, higher capital spending

Fri, 06 Nov 2009 22:24:00 GMT

The Canadian Press - VANCOUVER, B.C. - Telus Corp. revenue and profit will come in lower-than-expected this year due to impacts from a weak economy and the telecom giant's increased spending on the early launch of a new advanced wireless network, the company (TSX:T) says.

AIG posts 2nd straight profit amid signs of stabilization, CEO says earnings volatility ahead

Fri, 06 Nov 2009 22:23:00 GMT

The Canadian Press - NEW YORK - AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.

SNC Lavalin posts net profit in third quarter up from year-ago income

Fri, 06 Nov 2009 22:22:00 GMT

The Canadian Press - MONTREAL - The new head of SNC-Lavalin (TSX:SNC) says the engineering and construction company is not overly concerned about security threats to its operations in Algeria.

RIM, Apple top smartphones in North America but RIM facing more competition

Fri, 06 Nov 2009 22:20:00 GMT

The Canadian Press - MONTREAL - Even though the BlackBerry is the top smartphone in North America, the iPhone is right behind and other players will also put pressure on its premiere position, analysts say.

MDA wins $46-million contract with Canadian Space Agency for prototypes

Fri, 06 Nov 2009 22:19:00 GMT

The Canadian Press - RICHMOND, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Friday it has won a $46-million contract from the Canadian Space Agency to develop prototypes and new robotic systems for future space missions.

Greenspan denies role in U.S. policy

Fri, 06 Nov 2009 22:10:16 GMT

CBC - Former U.S. Federal Reserve chairman Alan Greenspan told CBC News Friday he makes regular visits to the Obama White House, but he denied he still influences policy-making.

ClubLink Enterprises reports Q3 profit of $17 million, up from year ago

Fri, 06 Nov 2009 21:54:00 GMT

The Canadian Press - MISSISSAUGA, Ont. - ClubLink Enterprises Ltd. (TSX:CLK) said Friday that it earned $17 million in its latest quarter, up from $14.5 million a year ago.

Canadian dollar stung by unexpectedly weak jobs data

Fri, 06 Nov 2009 21:54:00 GMT

Reuters - TORONTO (Reuters) - Canada's currency skidded to its lowest closing level in nearly a week on Friday, stung by U.S. and Canadian jobs data that fell short of estimates and left investors with a reduced appetite for riskier assets.

Petrolifera reports Q3 loss of $11.4 million as revenue cut almost in half

Fri, 06 Nov 2009 21:49:00 GMT

The Canadian Press - CALGARY - Petrolifera Petroleum Ltd. (TSX:PDP) reported a major reversal Friday in third-quarter revenue and earnings.

Cascades has six quarter of improved results; earns $34 million in Q3

Fri, 06 Nov 2009 21:48:00 GMT

The Canadian Press - MONTREAL - Shares in Cascades Inc. (TSX:CAS) increased almost five per cent on Friday after the Quebec-based paper and packaging company (TSX:CAS) reported its sixth consecutive quarter of improved results.

Keg Royalties Income Fund reports profit down from year ago, sales steady

Fri, 06 Nov 2009 21:48:00 GMT

The Canadian Press - VANCOUVER, B.C. - The Keg Royalties Income Fund (TSX:KEG.UN) said Friday that it earned $2.9 million in its latest quarter as sales held steady compared with a year ago.

Power producer Emera's Q3 profit rises to $34.9M from year-ago $6.5M

Fri, 06 Nov 2009 21:47:00 GMT

The Canadian Press - HALIFAX, N.S. - Power producer Emera Inc. (TSX:EMA) reported Friday third-quarter profits of $34.9 million, up from $6.5 million in the same period of 2008, when the company logged significant accounting adjustments.

Gold stocks send TSX higher, N.Y. little changed amid disappointing jobs data

Fri, 06 Nov 2009 21:46:00 GMT

The Canadian Press - TORONTO - The Toronto stock market advanced Friday as investors dealt with dismal employment data from Canada and the United States and as gold stocks continued to run ahead amid record high bullion prices.

Upward finish for TSX

Fri, 06 Nov 2009 21:42:54 GMT

Baystreet.ca - Canadian stocks remained moderately higher as a strong day in the gold sector outweighed concern over jobs data.

How executive bonuses fail to deliver

Fri, 06 Nov 2009 21:41:32 GMT

CBC - A new study suggests 12 of the companies in Canada's TSX 60 index have corporate governance issues that make them a serious risk to investors. Another 10 are a moderate risk.

Gold soars for 5th straight day

Fri, 06 Nov 2009 21:40:40 GMT

CBC - Gold futures jumped to yet another new record Friday, soaring over $1,100 US an ounce.

Magna shares race higher on earnings, Opel fallout

Fri, 06 Nov 2009 21:26:00 GMT

Reuters - TORONTO (Reuters) - Shares of Magna International Inc surged nearly 15 percent on Friday, a day after it posted a surprise quarterly profit and said it would focus on its core auto-parts business after the collapse of its deal to buy a stake in General Motors Co's Opel unit.

GM confirms that Europe chief Forster to leave but help with replacement search

Fri, 06 Nov 2009 21:12:00 GMT

The Canadian Press - DETROIT - Carl-Peter Forster, the chief executive of General Motors Europe who runs its struggling Opel unit, will leave the company, GM said Friday.

TSX runs ahead on Magna, gold stocks; N.Y. weak amid disappointing jobs data

Fri, 06 Nov 2009 21:11:00 GMT

The Canadian Press - TORONTO - Gold stocks helped keep the Toronto stock market ahead Friday afternoon despite employment reports for October that came in much worse than expected.

Is Canada still in recession or in mother of all jobless recoveries?

Fri, 06 Nov 2009 21:10:00 GMT

The Canadian Press - OTTAWA - Canada's economic recovery is suddenly looking vulnerable after Statistics Canada shocked observers Friday with new data showing the country lost 71,000 jobs last month.

China criticizes US over pipe duties, launches auto probe ahead of first Obama visit

Fri, 06 Nov 2009 21:07:00 GMT

The Canadian Press - BEIJING - China criticized Washington for imposing anti-dumping duties on Chinese-made steel pipes and launched a probe Friday of imported U.S. autos, adding to trade tensions two weeks before President Barack Obama visits Beijing.

Oil prices settles below $78 a barrel as US unemployment rate tops 10 per cent

Fri, 06 Nov 2009 21:06:00 GMT

The Canadian Press - NEW YORK - Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 per cent for the first time since 1983.

G20 finance officials face task of fulfilling pledge to lessen global trade, budget imbalances

Fri, 06 Nov 2009 20:57:00 GMT

The Canadian Press - ST. ANDREWS - The world's top financial officials on Friday sought a blueprint for securing future global growth and worked to break a deadlock over who bears the cost of fighting climate change.

Videotron ideal suitor for Globalive: analyst

Fri, 06 Nov 2009 20:26:08 GMT

CBC - Quebecor's Videotron telecom arm might be the ideal candidate to help solve Globalive Communications' foreign ownership problems, an analyst at Royal Bank suggests.

Arctic Glacier returns to profitability in Q3 despite a drop in revenue

Fri, 06 Nov 2009 20:19:00 GMT

The Canadian Press - WINNIPEG - Ice packager Arctic Glacier Income Fund (TSX:AG.UN) returned to profitability in the third quarter despite a slight dip in revenues.