Business News
Fed, in emergency move, will lend to companies
WASHINGTON - Frantically trying to stop the bleeding on Wall Street, the U.S. Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could com...
Nikkei plunges more than four per cent
TOKYO - Japanese shares dropped more than four per cent in early trade Wednesday as jittery investors dumped stocks in line with a plunge on Wall Street and deepening uncertainty over the course of th...
United Auto Workers say health care trust needs automakers' cash
DETROIT - United Auto Workers president Ron Gettelfinger said Tuesday that the union isn't willing to accept more overtures by cash-strapped Detroit automakers to delay payments to a trust fund that w...
Internal corrosion, pipeline stress named as cause of Alta. sour gas failure
CALGARY - Pipeline stress where internal corrosion existed is being blamed for a Shell Canada Ltd. sour gas pipeline failure in southern Alberta nearly a year ago. The Energy Resources Conservation...
Alcoa's third-quarter profit falls 52 per cent, stops share buyback
PITTSBURGH - Alcoa Inc., one of the world's largest aluminum producers, on Tuesday reported a 52 per cent drop in third-quarter profit and said it would conserve cash by suspending its stock buyback p...
Canada Savings Bonds go on sale on Friday, CSB to pay two per cent interest
OTTAWA - Canada Savings Bonds go on sale Friday and will pay an annual interest rate starting at two per cent, while the Canada Premium Bond will pay 2.35 per cent in the first year, the Finance Depar...
Insurance giant AIG's role in market crisis probed by U.S. lawmakers
WASHINGTON - Less than a week after the U.S. government had to bail out American International Group Inc., the company sent executives on a US$440,000 retreat to a posh California resort, lawmakers in...
People who manage, operate St. Lawrence Seaway trying to reach new contract
MONTREAL - The people who manage and operate the St. Lawrence Seaway were negotiating Tuesday in the hope of reaching a new contract and avoiding a potential labour dispute that could shut down the vi...
Yum says third-quarter earnings rise five per cent, boosted by overseas
LOUISVILLE, Ky. - Fast-food company Yum Brands Inc. said Tuesday its third-quarter profit grew five per cent as surging sales in its overseas operations more than offset a sharp decline in U.S. result...
Government delays annual Canada Savings Bonds sales campaign
OTTAWA - The federal government has delayed its annual Canada Savings Bond sales campaign, which had been scheduled to begin on Monday. The bonds are designed as a place for average investors to ea...
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