Winnipeg Free Press

View 7-Day Business Archive

Rusoro will seek more Venezuelan assets despite rejection by Gold Reserve

VANCOUVER - Rusoro Mining Ltd. (TSXV:RML) said Thursday it'll seek opportunities to expand in Venezuela despite a rejection of its takeover bid by Gold Reserve Inc. (TSX:GRZ). Updated 12:30 PM

1. Lundin says it has no notice of changes at Tenke despite reports

   VANCOUVER - Lundin Mining Corp. (TSX:LUN) says it hasn't received any notice of changes for its Tenke project from the Democratic Republic of the Congo, despite media reports that the country wants to up its stake in the copper-cobalt property. Updated 11:15 AM

2. Zoom planes grounded in Calgary, Glasgow after airline fails to pay bills

   MONTREAL - Airplanes operated by Zoom Airlines have been grounded in Calgary and Glasgow after the airline failed to pay several bills to government, airport, suppliers and the plane's owners. Updated 11:15 AM

3. Caterpillar looks for record sales on China demand

   BEIJING - Caterpillar Inc. expects record sales this year as booming demand for construction and mining equipment in China and other emerging economies offsets weakness in its home U.S. market, its chairman said Thursday. Updated 10:15 AM

4. German unemployment slips lower, government says

   FRANKFURT, Germany - The unemployment rate in Europe's biggest economy dropped to its lowest level in 16 years in August despite slumping business and consumer confidence, the federal employment office said Thursday. Updated 10:10 AM

5. Hathor Exploration, Terra Ventures stocks boosted by uranium assay results

   TORONTO - Hathor Exploration Ltd. stock soared to its highest level in more than a year Thursday after the Vancouver-based company (TSXV:HAT) and its partner announced promising assay results from summer drilling at a uranium proporty in Saskatchewan. Updated 9:40 AM

6. Canada's biggest banks report $4.15B in overall earnings for third quarter

   TORONTO - Canada's biggest banks wrapped up the third quarter with a 21 per cent drop in overall earnings, down to $4.15 billion, from a year-ago $5.26 billion, on losses from bad loans as the credit crisis wore on. Updated 9:40 AM

7. Financials, energy boost TSX;NY rises on improved GDP figures for Q2

   TORONTO - The Toronto stock market was higher Thursday afternoon as earnings from three of the big banks encouraged investors but gains on the TSX were about half of early levels as energy stocks retreated alongside oil prices. Updated 11:55 AM

8. Oil breaks through US$120 as tropical storm Gustav strengthens

   NEW YORK - Oil prices fluctuated sharply Thursday as tropical storm Gustav spun toward the Gulf of Mexico, with some traders fearing a disruption in supplies and others betting that the government would tap the Strategic Petroleum Reserve if needed. Either way, consumers were likely to see a hike in gas prices for Labour Day weekend. Updated 11:15 AM

9. National Bank reports a record high third-quarter profit of $286M

   MONTREAL - National Bank of Canada (TSX:NA) has reported a record third-quarter profit of $286 million, up' per cent from a year earlier, Updated 8:30 AM

10. Revised GDP numbers show U.S. economy did better than thought in second quarter

    WASHINGTON - The American economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home. Updated 11:50 AM

11. Current account surplus with rest of the world expands to $6.8 billion in Q2

    OTTAWA - Canada's current account surplus with the rest of the world expanded to $6.8 billion in the second quarter, led by exports of goods. Updated 7:50 AM

12. Jobless claims fall for 3rd straight week

    WASHINGTON - The number of people signing up for U.S. jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month, the government said Thursday. Updated 8:40 AM

13. Royal Bank Q3 profit falls by 10 per cent ot $1.26 billion

    TORONTO - Royal Bank of Canada (TSX:RY) says its net income fell to $1.26 billion in its third quarter, down 10 per cent from a year ago as writedowns and provisions for bad loans offset gains in RBC's domestic banking business. Updated 8:35 AM

14. TD Bank Q3 profit falls 9.6 per cent to $997 million

    TORONTO - TD Bank Financial Group (TSX:TD) says its profit for the third quarter was $997 million, down 9.6 per cent from the same time last year, but fuelled by strength in its retail operations. Updated 12:10 PM

15. Aecon awarded contract for new $27 million Building at Dalhousie University

    HALIFAX - Aecon Group Inc. (TSX:ARE) has been awarded a contract to manage the construction of a new $27-million Academic Building at Dalhousie University in Halifax. Updated 6:50 AM

16. Asian markets mixed; China snaps losing streak

    SEOUL, South Korea - Stocks in Asia finished mixed Thursday as Japan's key index rose and Chinese shares snapped a five-day losing streak while markets in Hong Kong and India fell. Updated 6:25 AM

17. Sears' 2Q profit drops 62 per cent

    NEW YORK - Sears Holdings Corp. says second-quarter profit fell 62 per cent as the retailer continues to struggle to attract customers to its stores despite a high-stakes restructuring. Updated 6:15 AM

18. China, Iraq reach deal to revive oil agreement

    SHANGHAI, China - China and Iraq have reached a tentative agreement for a Chinese state-owned oil company to help develop the Ahdab oil field, an Iraqi Embassy spokesman said Thursday. Updated 6:15 AM

19. Steelworkers vote to give union authority for strike against ArcelorMittal

    PITTSBURGH - Members of the United Steelworkers union have voted to give the union authority to launch a nationwide strike against ArcelorMittal, the world's largest steel producer, if ongoing contract negotiations fail. Updated 5:50 AM

20. Gas prices, slow U.S. market prompt Toyota to lower 2009 global sales target

    TOKYO - Toyota lowered its global sales target for 2009 by 700,000 vehicles to 9.7 million Thursday, showing that even one of the world's most durable automakers is being hurt by rising material costs, a slowing U.S. market and soaring gas prices. Updated 6:05 AM

21. Alaska governor OKs bill for TransCanada license

    ANCHORAGE, Alaska - Alaska Gov. Sarah Palin has signed a bill authorizing the state to award a licence to TransCanada Corp. (TSX:TRP)to start developing a natural gas pipeline. Updated 9:20 PM 08/27/08

22. Parlay Q2 profit rises to $291,230 from $12,868 in the year-ago period

    OAKVILLE, Ont. - Internet bingo software developer Parlay Entertainment Inc. (TSXV:PEI) reported a profit of $291,230 for the second quarter, up from $12,868 in the year-ago period. Updated 6:50 PM 08/27/08

23. United to furlough 1,550 flight attendants

    MINNEAPOLIS - United Airlines said on Wednesday it will furlough 1,550 flight attendants as it reduces its flying this fall. Updated 6:45 PM 08/27/08

24. Alpha Group receives regulatory approval of Alternative Trading System

    TORONTO - Alpha ATS, a privately-held trading system owned by the big Canadian banks and scheduled to launch next month, has received approvals from the Ontario Securities Commission and the Investment Industry Regulatory Organization of Canada. Updated 5:35 PM 08/27/08

25. Venezuela President Chavez says Cemex agrees to handover cement plants

    CARACAS, Venezuela - President Hugo Chavez says his government has reached a deal allowing it to take full control of Cemex SAB's local plants. Updated 4:55 PM 08/27/08

26. Digital video recorder pioneer TiVo has Q2 profit on reduced costs

    NEW YORK - TiVo Inc. posted a quarterly profit for only the third time in its 11-year history Wednesday as the pioneer in digital video recorders boosted margins on hardware and reduced marketing costs in its fiscal second quarter. Updated 5:35 PM 08/27/08

27. Microsoft's newest web browser may block ads

    SEATTLE - The next version of Microsoft Corp.'s web browser makes it easier for people to surf the Internet without leaving a trace. Updated 4:50 PM 08/27/08

28. Isotechnika hires advisers to review strategic alternatives

    EDMONTON - Drug developer Isotechnika Inc. (TSX:ISA) said Wednesday it was reviewing strategic alternatives, including possible partnerships or licensing deals. Updated 4:45 PM 08/27/08

29. Three top executives of U.S. mortgage giant Fannie Mae to leave company

    WASHINGTON - Mortgage finance giant Fannie Mae shook up its executive ranks on Wednesday, after shares in it and sibling company Freddie Mac rose for a third straight day as investors appeared less certain a U.S. government bailout of the two troubled companies is imminent. Updated 5:35 PM 08/27/08

30. Sherwood narrows quarterly loss to $200,000 from year-ago $21.3 million

    VANCOUVER - Sherwood Copper Corp. (TSXV:SWC), operator of the Minto copper-gold mine in the Yukon, narrowed its quarterly loss to $200,000 from $21.3 million in the period last year. Updated 3:55 PM 08/27/08

31. U.S. Vioxx settlement judge caps legal fees at 32 per cent

    TRENTON, N.J. - The U.S. judge overseeing much of the massive litigation over withdrawn painkiller Vioxx on Wednesday capped fees for plaintiffs' lawyers at a relatively low 32 per cent of the US$4.85 billion settlement, saying he had to ensure fees were reasonable. Updated 3:50 PM 08/27/08

32. Quebec can become water sheiks by selling water, says conservative think-tank

    MONTREAL - Quebec should tap into the growing thirst for water by laying the groundwork for bulk water exports that could earn the province billions of dollars a year, a conservative think-tank said Wednesday. Updated 3:50 PM 08/27/08

33. Gold Reserve rejects takeover offer from Rusoro Mining

    SPOKANE, Wash. - Gold Reserve Inc. (TSX:GRZ ) says it has rejected an unsolicited takeover offer from Rusoro Mining Ltd. (TSXV:RML). Updated 3:00 PM 08/27/08

34. Zi suspicious of motive behind Nuance patent suit

    CALGARY - Zi Corp. (TSX:ZIC) says it remains suspicious of the motive behind a previously announced patent suit filed against it by Nuance Communications, which has also made a US$40-million takeover offer for the software company. Updated 3:00 PM 08/27/08

35. Bombardier among hardest hit as business jets sitting longer in hangars

    MONTREAL - Canadian aircraft manufacturer Bombardier (TSX:BBD.B) was among the hardest hit as business jet activity slowed in July under the weight of a slower global economy, one industry analyst says. Updated 5:40 PM 08/27/08

36. N.S. gold firm settles lawsuit with $200,000 payment to U.S. fund

    HALIFAX - Nova Scotia-based Gammon Gold (TSX:GAM) has settled a lawsuit from a U.S. metals investment firm that alleged Gammon overstated gold production figures at its Mexican mines. Updated 1:20 PM 08/27/08

View 7-Day Business Archive

Advertisement

Advertisement