Yahoo! Canada Finance: Finance News

Cossette favors Mill Road takeover

Sat, 21 Nov 2009 02:10:00 GMT

Reuters - TORONTO (Reuters) - Cossette Inc, Canada's largest homegrown ad firm, urged shareholders late on Friday to accept an buyout offer from Mill Road Capital, saying a higher proposal from another firm did not yet constitute an official bid.

TD Bank hit with lawsuit in Florida Ponzi case

Sat, 21 Nov 2009 01:59:00 GMT

Reuters - MIAMI (Reuters) - TD Bank was hit with a multimillion-dollar lawsuit on Friday calling it the "financial epicenter" of an alleged Ponzi scheme run by disgraced Florida lawyer Scott Rothstein.

Hershey may make US$17-billion bid for Cadbury, topping Kraft, Journal reports

Sat, 21 Nov 2009 00:35:00 GMT

The Canadian Press - NEW YORK - Hershey Co. may make a US$17-billion bid for UK candy company Cadbury PLC, topping the recent $16.5-billion hostile offer by Kraft Foods Inc., the Wall Street Journal reports Friday.

As interest rates fall back near zero, there aren't many happy returns

Sat, 21 Nov 2009 00:15:00 GMT

The Canadian Press - NEW YORK - The United States is finally becoming a country of savers. Now if only we could get something for our money.

Judge reserves decision on whether Scotiabank overtime suit can move forward

Sat, 21 Nov 2009 00:14:00 GMT

The Canadian Press - TORONTO - An Ontario court judge deciding whether a class action lawsuit against Scotiabank (TSX:BNS) over unpaid overtime should be dismissed has reserved his decision.

Consumers trade up for less on latest electronics as prices come down

Sat, 21 Nov 2009 00:13:00 GMT

The Canadian Press - MONTREAL - Prices for the latest gadgets and TVs haven't fallen dramatically, but enough to allow consumers to trade up at lower prices, says the research firm NPD Group Canada.

Transat beefs up France operations by teaming with travel agency network

Fri, 20 Nov 2009 23:45:00 GMT

The Canadian Press - MONTREAL - Tour operator Transat A.T. (TSX:TRZ.B) is hoping to expand its presence and revenues in France by partnering with that country's largest travel agency network.

AbitibiBowater juggles to avoid large tax bills from $250-million loan

Fri, 20 Nov 2009 23:45:00 GMT

The Canadian Press - MONTREAL - AbitibiBowater's worsening financial position is forcing the insolvent company to juggle its corporate structure to avoid a big tax bill.

Two bidders vie for Nortel's optical networking business in auction

Fri, 20 Nov 2009 23:43:00 GMT

The Canadian Press - TORONTO - Some of Nortel Networks' most-prized assets were on the auction block Friday as two technology giants put their best bids forward in hopes of gaining control.

Brookfield increases long-term contract for power generation in Ont.

Fri, 20 Nov 2009 23:42:00 GMT

The Canadian Press - TORONTO - Brookfield Renewable Power Inc. said Friday it has signed a 20-year contract Ontario Power Authority to sell all of its output from 16 of its Ontario hydro facilities.

Flaherty says government will undertake no new spending in next year's budget

Fri, 20 Nov 2009 23:31:00 GMT

The Canadian Press - TORONTO - Emphasizing that government stimulus spending is a temporary measure, federal Finance Minister Jim Flaherty says the Conservative government doesn't plan to undertake major new spending initiatives in next year's budget.

Recession catches up to businesses as more join the line to bankruptcy

Fri, 20 Nov 2009 22:55:00 GMT

The Canadian Press - OTTAWA - After withstanding recessionary headwinds for most the past year, Canadian businesses are now succumbing to the same economic malaise that has already sent tens of thousands of individual Canadians to the bankruptcy office.

Saputo, Kraft appeal court ruling upholding federal cheese regulations

Fri, 20 Nov 2009 22:54:00 GMT

The Canadian Press - MONTREAL - Saputo (TSX:SAP) and Kraft aren't taking no for an answer and have appealed a Federal Court ruling that upheld new federal cheese regulations.

Oil prices, profit-taking drag TSX lower

Fri, 20 Nov 2009 22:37:00 GMT

Reuters - TORONTO (Reuters) - Toronto's main stock index fell on Friday as weaker oil prices, caused partly by a stronger U.S. dollar, weighed on resource issues, including Suncor Energy Inc.

Hershey Trust backs bid for Cadbury: report

Fri, 20 Nov 2009 22:27:00 GMT

AFP - NEW YORK (AFP) - A charitable trust controlling US chocolate maker Hershey is backing a bid of 17 billion dollars for Britain's Cadbury, the Wall Street Journal reported Friday.

Oil edges down toward US$76 amid economic uncertainty, rising U.S. dollar

Fri, 20 Nov 2009 22:19:00 GMT

The Canadian Press - NEW YORK - Oil prices fell below US$77 a barrel on Friday on a stronger U.S. dollar and amid concern about the strength of the global economic recovery.

CF gets three directors on Terra board, complicating hostile Agrium bid

Fri, 20 Nov 2009 22:18:00 GMT

The Canadian Press - CALGARY - Fertilizer giant Agrium Inc.'s (TSX:AGU) ambitions to take over Illinois-based CF Industries Holdings Inc. (NYSE:CF) hit an obstacle Friday, as the target company made significant headway in a hostile bid of its own.

Economic concerns, rising U.S. currency push stock markets, crude oil lower

Fri, 20 Nov 2009 22:17:00 GMT

The Canadian Press - TORONTO - The Toronto stock market closed slightly lower Friday, pressured by falling energy stocks as demand concerns and a rising U.S. dollar pushed crude prices down.

Agrium's bid for CF stumbles

Fri, 20 Nov 2009 22:09:52 GMT

CBC - Calgary-based Agrium has suffered a setback in its bid to take over rival CF Industries.

Global stocks slip, dollar gains on economy fears

Fri, 20 Nov 2009 21:44:00 GMT

Reuters - NEW YORK (Reuters) - Global stocks slid and the U.S. dollar rose on Friday as investors cut their exposure to risky assets amid signs of an anemic U.S. economic recovery.

Ontex Resources to acquire Roxmark Mines in all-stock transaction

Fri, 20 Nov 2009 21:41:00 GMT

The Canadian Press - TORONTO - Roxmark Mines Ltd (TSXV-RMK) said Friday it plans to amalgamate with Ontex Resources Ltd. (TSX:ONT) in an all-stock transaction to form a new company that will eventually be called Goldstone Resources Ltd.

Slight drop for TSX

Fri, 20 Nov 2009 21:37:45 GMT

Baystreet.ca - Toronto stocks remained slightly lower Friday. Mining and energy stocks leading the modest declines....

Consumers now able to get lower prices on higher quality electronics

Fri, 20 Nov 2009 21:14:00 GMT

The Canadian Press - MONTREAL - Prices for the latest hot digital gadgets have been falling, allowing consumers to trade up at lower prices, says the research firm NDP Group Canada.

Senate panel will take up Bernanke's nomination to second Fed term on December 3

Fri, 20 Nov 2009 21:11:00 GMT

The Canadian Press - WASHINGTON - U.S. Federal Reserve chairman Ben Bernanke's nomination to a second term will be the subject of a Senate Banking Committee hearing next month, the panel's chairman said Friday.

Oil prices wobble on recovery concerns

Fri, 20 Nov 2009 21:08:00 GMT

AFP - NEW YORK (AFP) - Oil prices remained depressed Friday amid a strengthening dollar and concerns over sustainable economic recovery.

CP Rail reaches tentative deal with police union

Fri, 20 Nov 2009 21:06:00 GMT

Reuters - OTTAWA (Reuters) - Canadian Pacific Railway Ltd said on Friday it reached a tentative, three-year labor agreement with the union that represents railway police.

Auto parts strike would affect thousands

Fri, 20 Nov 2009 20:48:50 GMT

CBC - Employees at Johnson Controls, an automotive parts plant east of Windsor, Ont., could walk off the job if they don't reach a deal by midnight Friday. A strike would affect thousands at Chrysler's Windsor assembly plant, which uses the components.

First Air France A380 reaches New York

Fri, 20 Nov 2009 20:46:00 GMT

AFP - NEW YORK (AFP) - The world's largest airliner, an Air France A380, touched down in New York on Friday after completing the superjumbo jet's first Atlantic crossing from Europe to the United States.

Terra shareholders elect CF nominees to board

Fri, 20 Nov 2009 20:35:00 GMT

Reuters - NEW YORK (Reuters) - CF Industries Holdings Inc took a major step toward completing its bid to buy Terra Industries Inc on Friday when three nominees proposed by CF were elected to Terra's board.

Weak demand and rising crude prices lead to another refinery closing; 550 workers let go

Fri, 20 Nov 2009 20:28:00 GMT

The Canadian Press - WILMINGTON, Del. - Refineries from New Mexico to New Jersey are under severe economic pressure because of falling demand for fuel, with a number of the operations shutting down in recent months.

Canada will stay the course on stimulus: Flaherty

Fri, 20 Nov 2009 20:26:00 GMT

Reuters - TORONTO (Reuters) - Finance Minister Jim Flaherty on Friday vowed to resist big, new spending measures in his next budget, but said it was too early to pull stimulus away from a still shaky economy.

US newspaper ad revenue down nearly 28 percent

Fri, 20 Nov 2009 20:14:00 GMT

AFP - WASHINGTON (AFP) - US newspaper advertising revenue fell by nearly 28 percent in the third quarter, continuing a slide which has led to layoffs, bankruptcies and the closure of several dailies.

Chile airports resume operations after major strike

Fri, 20 Nov 2009 19:47:00 GMT

AFP - SANTIAGO (AFP) - Chilean airports resumed normal activity on Friday, after some 2,000 airport workers launched a country-wide strike that caused flight delays, the General Directorate of Civil Aviation said.

Weak economy helping spur lower consumer electronics prices

Fri, 20 Nov 2009 19:37:00 GMT

The Canadian Press - MONTREAL - A Toronto-based market research firm says it's a great time to buy consumer electronics in Canada.

MacDonald Dettwiler signs $200 million communications deal with Russians

Fri, 20 Nov 2009 19:35:00 GMT

The Canadian Press - VANCOUVER, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) announced Friday that it has signed a satellite technology contract with the Russian Radio Research and Development Institute (NIIR) worth more than $200 million.

Stock markets lower as Dell earns disappoint, U.S. dollar weakens

Fri, 20 Nov 2009 19:34:00 GMT

The Canadian Press - TORONTO - The Toronto stock market was slightly lower Friday afternoon, led by energy sector declines as demand concerns and a rising U.S. dollar pushed crude prices lower.

Canada Post struggles to innovate

Fri, 20 Nov 2009 19:32:16 GMT

CBC - Canada's postal service is reinventing itself as it struggles to make up for dwindling demand in the face of a devastating global economic slowdown.

Boeing starts work on second Dreamliner assembly site

Fri, 20 Nov 2009 19:32:00 GMT

AFP - NEW YORK (AFP) - US aerospace giant Boeing broke ground Friday for the second assembly plant for its new 787 Dreamliner aircraft scheduled for its first test flight by the end of the year.

Canada budget to stay course on stimulus: Flaherty

Fri, 20 Nov 2009 19:11:00 GMT

Reuters - TORONTO (Reuters) - Canadian Finance Minister Jim Flaherty on Friday vowed to resist big, new spending measures in his next budget, but said it was too early to pull stimulus away from a still shaky economy.

Business bankruptcies jump in September, joining consumers in the insolvency line

Fri, 20 Nov 2009 19:06:00 GMT

The Canadian Press - OTTAWA - After hunkering down throughout most of the recession, Canadian businesses began lining up with consumers at the bankruptcy office in September, according to government data released Friday.

The 10-billion-barrel battle

Fri, 20 Nov 2009 18:39:23 GMT

CBC - Henry Lyatsky wants B.C.'s coast opened to oil drilling but environmentalists stand opposed.

Crisis fallout still in 'first half': forum

Fri, 20 Nov 2009 18:13:00 GMT

AFP - DUBAI (AFP) - The impact of the global financial crisis is still in its "first half," but there is only a brief opportunity to bring tough reforms, the World Economic Forum warned on Friday.

Turkey scraps nuclear power plant tender

Fri, 20 Nov 2009 18:11:00 GMT

AFP - ANKARA (AFP) - Turkey on Friday scrapped a 2008 tender won by a Russian-led consortium to build the country's first nuclear power plant -- a process that had been under threat of being invalidated by a court decision.

New budget to save Greek economy: prime minister

Fri, 20 Nov 2009 18:06:00 GMT

AFP - ATHENS (AFP) - The Greek socialist government tabled a budget on Friday to cut the public deficit to 9.1 percent of output and save the country's economy from the "emergency room," Prime Minister George Papandreou said.

TSX sags on weaker commodities, profit-taking

Fri, 20 Nov 2009 17:46:00 GMT

Reuters - TORONTO (Reuters) - Toronto's main stock index was lower on Friday morning as weaker commodity prices, caused partly by a stronger U.S. dollar, pressured shares of Barrick Gold and other resource issues.

General Motors expects a plan for its European operations by mid December

Fri, 20 Nov 2009 17:21:00 GMT

The Canadian Press - FRANKFURT, Germany - General Motors Co. said it expects to release a full restructuring plan for its Opel and Vauxhall operations in mid December, but did not specify the amount of cuts to capacity and jobs it would seek.

TSX listing lower by noon

Fri, 20 Nov 2009 17:19:47 GMT

Baystreet.ca - Bay Street stocks continued to drift lower on Friday, moving further off of a yearly high. Commodity-linked...

Good news for home heating: With the most natural gas in storage, prices plunge by 15 per cent

Fri, 20 Nov 2009 17:18:00 GMT

The Canadian Press - NEW YORK - Natural gas prices have dropped by more than 15 per cent in the past month as the country continues to sip at its energy reserves and a balmy November allowed many homeowners to leave the heat off.