Business News

AbitibiBowater and Quebec Federation of Labour reach tentative deal

MONTREAL - An tentative deal has been reached between insolvent newspaper giant AbitibiBowater Inc. and the Quebec Federation of Labour. Details of the agreement, which were hammered out over nine ...

HST may not be right for every province but makes sense for Ontario: McGuinty

WINNIPEG - Moving to a harmonized sales tax may not be right for every province, but Premier Dalton McGuinty says it still makes sense for Ontario. Speaking after a Liberal fundraiser in Winnipeg F...

Vale in increase nickel production at strike-bound operations after vote

SUDBURY, Ont. - Vale said Friday it plans to increase nickel production at its strike-bound operations in Sudbury, Ont., after workers voted to reject the company's latest contract offer. More than...

Orange County, California, sues Toyota over vehicle defects on behalf of consumers

SANTA ANA, Calif. - Prosecutors in Orange County, California have filed a lawsuit against Toyota Motor Corp., accusing the automaker of knowingly selling hundreds of thousands of vehicles with acceler...

Lehman Brothers' accounting gimmick helped firm hide debt, examiner says

WASHINGTON - An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has f...

Growing transportation demand suggests global freight recession over: analysts

MONTREAL - Growing demand for cargo transportation suggests the global freight recession may have ended, but industry observers remain concerned that a rising Canadian dollar may bring the progress to...

Analyst expects pause in big fertilizer M&A after Agrium walks away from CF

CALGARY - Now that a prolonged saga that entangled three major North American fertilizer producers appears to have finally been resolved, an analyst expects the sector to take a breather from big take...

Oil slides as mixed economic data and China reports put brakes on rising prices

NEW YORK - Oil prices ended the week lower following mixed economic reports that kept investors on edge about the outlook for improving energy demand. On Friday, benchmark crude for April delivery ...

Base metals support TSX to first close above 12,000 since Sept. '08

TORONTO - The Toronto stock market moved slightly higher Friday, closing above the 12,000 mark for the first time in about a year and a half amid mixed signals about the health of the U.S. economy. ...

Satellite operator Telesat says removing ownership restrictions to help it grow

MONTREAL - Canadian satellite operator Telesat says removing foreign investment restrictions will mean that it can acquire other smaller satellite operators around the world to grow and better compete...