Winnipeg Free Press

1. November 20, 2008

2. Bank chief finally utters the 'R' word

   By Julian Beltrame OTTAWA -- The Bank of Canada conceded for the first time the Canadian economy could be headed for a recession, adding more stimulus and lower interest rates are needed to cushion the steep fall.

3. CN halts 'grain-specific' investments over regulatory moves

   By Larry Kusch CN Rail has frozen "grain-specific" investments in its Prairie network because of what it calls the "creeping re-regulation" of the grain handling industry.

4. Firms aggressively grab new seasonal taxi licences

   By Martin Cash WINNIPEG taxi companies have aggressively snatched up available seasonal licences to an extent not seen in several years.

5. Coming recession will be something to remember

   Martin Cash Chuck Winograd has seen a lot in his 37-year career as an investment banker, but he's never seen anything like the carnage that occurred in September and October.

6. FP income fund pays special distribution

   VANCOUVER -- FP Newspapers Income Fund said Wednesday that it will pay a special distribution of 9.5 cents per unit and a monthly distribution of 9.5 cents per unit for the month of November.

7. Crowflight Minerals reverses loss, mine near Wabowden begins output

   TORONTO -- Crowflight Minerals Inc., a Toronto-based junior nickel company, reports its net income for the third quarter was $9.9 million or four cents a share, reversing a loss of $2.2 million or one cent for the same 2007 quarter.

8. Manitoba's businesses an optimistic bunch

   By Murray McNeill MANITOBA'S small- and medium-sized businesses are among the most optimistic in the country in spite of the deteriorating global economic conditions, according to the latest survey by the Canadian Federation of Independent Business.

9. November 19, 2008

10. Auto sales remain healthy here

    By Murray McNeill They're peddling more parts, shampooing more engines, and hawking more snow tires. One auto dealer has even launched a new service that helps people sell their vehicles themselves.

11. Big Three automakers begging for bailout

    WASHINGTON -- Detroit's Big Three automakers pleaded with a reluctant Congress Tuesday for a US$25-billion lifeline to save the once-proud titans of U.S. industry, pointedly warning of a national economic catastrophe should they collapse.

12. CTV breaks news on job cuts today

    By Grant Surridge TORONTO -- CTV, Canada's largest private broadcaster, is set to announce layoffs and other cuts due to the current economic slowdown, chief executive Ivan Fecan said Tuesday in an internal memo.

13. Empire Q3 net profit takes a hit

    EMPIRE Industries Ltd. (November 19 2008, 2: 50 am CST), a manufacturer of specialized engineered products and steel fabrication and installation services, says its net profit fell to $0.5 million or one cent a share for the third quarter, down from earnings of $0.7 million or one cent for the same 2007 period.

14. Canada soon to have securities watchdog

    By Mia Rabson OTTAWA -- The Harper government is poised to create a new federal securities regulator ending years of debate and disagreement with the provinces over the issue.

15. Putnam lets go 47 workers

    GREAT-WEST Lifeco's large Boston-based asset-management firm, Putnam Investments, pared back its staff by 47 people this week and merged six of its funds into larger ones.

16. Canwest names interim president of broadcasting

    PETER Viner, a veteran Canwest Global Communications Corp. executive, has been named interim president of its broadcasting division.

17. Groups pay to put end to CWB's monopoly

    By Larry Kusch A lobby group that once employed Prime Minister Stephen Harper has waded into this fall's Canadian Wheat Board elections, financing radio ads that encourage farmers to vote for candidates opposed to the CWB's marketing monopoly.

18. November 18, 2008

19. Canada's auto bailout

    By Maria Babbage and Kristine Owram TORONTO -- Canada could play a "pivotal role" in rescuing an automaker if the U.S. government doesn't provide emergency aid for the struggling industry before Barack Obama takes office, an Ontario cabinet minister said Monday.

20. Safeway's new outlet closes Ellice store

    By Murray McNeill CANADA Safeway plans to upgrade or redevelop seven more of its Manitoba stores over the next two years as part of a multi-year overhaul of its grocery retailing operations in North America.

21. Fast Air grounded during investigation

    FAST Air, a Winnipeg-based corporate, charter and medevac air service, has been grounded after voluntarily surrendering its air operator's certificate.

22. How popular is surfing the Net?

    Percentage of Internet use and Internet shopping by province, 2007:

23. Black October for mutual funds

    By Gary Norris TORONTO -- The Canadian mutual fund industry suffered its worst month ever in October with $8.4 billion in net redemptions, and total industry assets ended the month 19.5 per cent below their year-ago level.

24. Taxman eyes Internet sellers

    By Vito Pilieci OTTAWA -- The federal government, facing shrinking revenues because of a slowing economy, is going after online merchants who fail to pay taxes on the goods they sell, even though it has virtually no idea how widespread the problem might be.

25. Markets mired in quicksand

    By Eric Beauchesne OTTAWA -- Stock markets around the world -- already deeply depressed -- sank further Monday as investors appeared unconvinced that vague commitments agreed to by world political leaders will prevent a global recession.

26. GM to sell stake in Suzuki

    By Shino Yuasa TOKYO -- Cash-strapped General Motors Corp. will sell its entire stake in Suzuki Motor Corp. for about US$230 million, the automaker's latest move to stay afloat while awaiting a decision on government aid for the industry.

27. Strings attached to U.S. package

    WASHINGTON -- Democrats in the U.S. Senate want to deny bonuses to American auto executives making more than $250,000 a year in exchange for giving the firms and their suppliers $25 billion in loans from the $700-billion Wall Street bailout.

28. $12.8B and counting... Canadians shop online

    By John Morrissy OTTAWA -- Online shopping in Canada continues to surge, with more than 8.4 million individuals combining to buy $12.8 billion worth of goods and services over the Internet in 2007, up 61 per cent from 2005, Statistics Canada reported Monday.

29. Citigroup to eliminate 53,000 more staffers

    By Madlen Read NEW YORK -- Citigroup Inc. is shedding approximately 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

30. Business Watch

    TransCanada raises $1B

    CALGARY -- TransCanada Corp. (November 18 2008, 9: 42 am CST) said Monday that it has signed a deal to raise $1 billion in an issue of shares that will be used to repay debt and fund capital projects including its Keystone Pipeline.

31. November 17, 2008

32. Retail development chugging along

    By Murray McNeill Developers aren't letting the global economic crisis prevent them from pursuing new retail opportunities in Winnipeg.

33. Quiet bankruptcy for A&B

    By John Mackie and Bruce Constantineau VANCOUVER -- Vancouver retail icon A&B Sound declared bankruptcy Nov. 7 -- and no one noticed.

34. Manitoba Movers

35. Business Calendar

36. November 16, 2008

37. Cash-strapped Via exploring new territory

    By Dean Beeby OTTAWA -- Via Rail wants to sell some tracks.

38. Bulls and bears A look at some of the week's winners and losers from markets around the world

    BY JOHN MORRISSY, CANWEST NEWS SERVICE Dow Jones Industrial Average

39. November 15, 2008

40. Real television drama

    By Martin Cash Just how much trouble is Canwest Global Communications Corp. really in?

41. Agricultural markets face own global crises

    By Laura Rance When world leaders gather to ponder the deepening global economic crisis, it would be nice if they'd spare a few moments to talk about perhaps the one thing in this world that is more important than money -- food.

42. Home sales dive, reach six-year low

    By Eric Beauchesne OTTAWA -- The Canadian economy has taken a sudden sharp turn for the worse, with the housing boom finally turning to bust with home sales plunging 14 per cent to a six-year low in October, the steepest monthly drop in 14 years, and prices tumbling 10 per cent from a year earlier.

43. FP fund Q3 net earnings decline

    FP Canadian Newspapers Limited Partnership (November 15 2008, 7: 42 am CST) has reported a slight increase in revenues, but an 11 per cent drop in third-quarter net earnings.

44. Survive... and thrive

    By Barbara Bowes The markets are up. The markets are down. The markets are up. The markets are down. What a crazy roller-coaster ride our economy has experienced in the last month.

45. Direct approach a must for managing in uncertain times

    Dr. John McFerran Safety and security come only second to the life-sustaining requirements of air, food, water and sleep on the list of Maslow's hierarchy of needs.

46. Tis the season... to cut back: survey

    By Derek Abma OTTAWA -- Survey results released Friday show a sizable jump in the number of Canadians worried about the economy compared with just a few weeks ago, with the same poll indicating a majority are cutting back spending.

47. Fidelity cuts another 1,700 jobs

    BOSTON -- Fidelity Investments will eliminate 1,700 jobs early next year at the largest U.S. mutual fund company, which has seen its money management fees decline along with the markets.

48. Sun Microsystems to slash 6,000 jobs

    SAN FRANCISCO -- The economic downturn might be pushing Sun Microsystems Inc., one of the storied names in computing, to the brink of extinction.

49. Boeing, unions settle dispute

    SEATTLE -- A tentative settlement has been reached on a four-year contract covering nearly 21,000 Boeing Co. engineers, scientists and technical workers, following talks that were delayed by a machinists union strike.

50. G20 can fix our real, financial economies

    Diane Francis There are two economies: the real economy and the financial economy. The real economy is the body, the financial is the bloodstream that brings oxygen, nutrients and action to the limbs and brain.

51. Credit-card rate squeeze hits consumers, merchants

    By Brenda Bouw TIGHT credit markets are putting even more stress on Canadians' love-hate relationship with credit cards and retailers say they too are getting pinched by the higher use of plastic.

52. Business Watch

    U.S. OKs Anheuser-Busch sale

53. November 14, 2008

54. Transport Canada probes Fast Air's safety standards

    By Martin Cash A Manitoba corporate, charter and medivac air service company was the subject of a search warrant Wednesday and is under investigation by Transport Canada.

55. Manitoba's growth downgraded but still better than most provinces

    By Murray McNeill ONE of the country's leading economic forecasters has downgraded its growth projection for Manitoba, but still predicts the province will turn in one of the best economic performances in the country this year and in 2009.

56. Oops -- gaffe on TFSAs caught your attention

    David Christianson / Dollars and Sense Mea culpa.

57. Forecast shows cooling trend

    By Murray McNeill Sales of existing homes plummeted 18 per cent last month as Winnipeg's previously red-hot resale-homes market showed signs of cooling down.

58. Business to governments: don't take cure too far

    OTTAWA -- The world's top corporations are warning countries at the upcoming economic summit against overreacting to the financial crisis by reverting to protectionism and prolonged state intervention.

59. Developed world in recession: OECD

    By Pan Pylas LONDON -- The world's developed countries, hard hit by the financial crisis, have probably tipped into a recession that will last at least through the first half of 2009, according to new projections issued Thursday.

60. Wal-Mart's holiday earnings looking good

    By Anne D'Innocenzio NEW YORK -- Wal-Mart officials sounded an upbeat tone for the holidays as the retailer posted a 10 per cent increase in third-quarter profits on Thursday, saying that shoppers are responding to its early Christmas promotions.

61. Buy or sell Nortel stock? Analysts disagree

    TORONTO -- It's the return of the great Canadian pastime of guessing what lies ahead for Nortel Networks Corp. (November 14 2008, 2: 50 am CST) -- with at least one analyst predicting it will run out of money and go bust.

62. Crisis not 'failure of the free market': Bush

    NEW YORK -- U.S. President George W. Bush asserted Thursday that the global financial crisis is "not a failure of the free market" and urged world leaders to adopt modest financial reforms that stop short of the tighter regulations Europeans favour.

63. Business Watch

    Artis chocks up solid returns

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