Business News
Bank economists foresee little growth: 'different from a typical recession'
TORONTO - Economists from Canada's Big Five banks are expecting little or no growth in the near future - and their gloom could become much deeper. The word "recession" wouldn't describe the deep st...
Toronto stock market plummets more than 800 points on falling crude prices
TORONTO - The Toronto stock market is plunging amid a global stock-market slump and falling crude oil prices, which slid below US$90 a barrel for the first time since early February. The S&P/TSX co...
Stock markets open sharply lower on falling crude prices, bailout nervousness
TORONTO - The Toronto stock market plunged Monday amid a global stock-market slump and falling crude oil prices, which slid below US$90 a barrel for the first time since early February. The S&P/TSX...
Canadian economists see drawn out recovery for economy, but no local recession
TORONTO - Five of Canada's most prominent economists say difficult times lie ahead for the domestic economy, but the good news is we're not likely headed for a local recession. Scotiabank (TSX:BNS)...
Crude oil slides as financial turmoil spreads
NEW YORK - Oil prices briefly fell to an eight-month low below US$90 a barrel Monday on speculation that the spreading financial crisis will exacerbate a global economic slowdown and cut demand for cr...
Scotiabank buys Sun Life's 37 per cent of CI Financial for $2.3 billion
TORONTO - Sun Life Financial Inc. (TSX:SLF) has sold its 37 per cent interest in the CI Financial Income Fund (TSX:CIX.UN) to the Bank of Nova Scotia (TSX:BNS) for $2.3 billion in cash. Scotiabank ...
Building permits tumble 13.5 per cent in August: Statistics Canada
OTTAWA - The value of building permits issued by Canadian municipalities tumbled 13.5 per cent in August compared with July. Statistics Canada reported Monday there was lower activity in both the r...
Treasury announces plan to boost debt auctions
WASHINGTON - The Treasury Department said Monday it will increase its debt auctions to handle the $700 billion rescue program for the country's financial system. The Treasury said it would increase...
House panel holds hearings into massive Lehman Brothers bankruptcy
WASHINGTON - With the $700 billion-dollar financial industry bailout bill signed into law, the U.S. House of Representatives is now looking into what drove Lehman Brothers into bankruptcy. Monday's...
Fed adds to support of banking system: pays interest on bank reserves
WASHINGTON - The Federal Reserve says it will begin paying interest on commercial banks' reserves and will expand its loan program to squeezed banks, fresh steps to ease a painful credit crisis. Th...
TORONTO - The Ontario Health Coalition says the federal government has abdicated its responsibility to enforce Canada Health Act regulations when it comes to for-profit medical clinics.
In a report...
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