Business News

Coalcorp ends strategic review: announces growth plan, $120M financing

TORONTO - Coalcorp Mining Inc. (TSX:CCJ) has called off an effort to sell itself and is "embarking on a multifaceted, focused strategy with a view to the company producing approximately six million to...

Oil prices rise above US$125 a barrel after mixed U.S. report

VIENNA, Austria - Oil climbed above US$125 a barrel Thursday, a day after the U.S. government issued a mixed report on the country's petroleum reserves and the U.S. dollar weakened against other key c...

Commodity boom drives N.L., Saskatchewan to top of GDP growth

OTTAWA - A new study says Saskatchewan and Newfoundland and Labrador have stepped into a new era of prosperity. Statistics Canada says the commodity boom offered a unique opportunity for the two pr...

Stock market outlook modestly positive as traders await economic data

TORONTO - Overseas stock markets were mixed and U.S. index futures were modestly positive Thursday morning amid rising optimism that the American economy may not be as weak as earlier feared and that ...

Barclays unit reports US$1.94-billion writedown

LONDON - Barclays PLC reported a US$1.94-billion writedown in the first quarter Thursday, but bucked a trend in the banking sector and did not announce a capital increase to shore up its balance sheet...

Oil prices rise after mixed US inventory report

VIENNA, Austria - Oil climbed toward the US$125-a-barrel mark Thursday after the U.S. government issued a mixed report on the country's petroleum reserves and the U.S. greenback weakened against other...

Allen-Vanguard books $34.2M quarterly loss, warns of weak near-term outlook

OTTAWA - Allen-Vanguard Corp, has cut expectations for its current financial year, citing delays in U.S. military programs. The maker of protective gear and devices to disable roadside bombs also said...

CAW still working toward early collective agreements with GM, Chrysler

TORONTO - Talks continued early Thursday as teams of negotiators for the Canadian Auto Workers union worked toward reaching early collective agreements with General Motors and Chrysler. The union t...

Toyota's worldwide sales of gas-electric Prius hybrid top one million units

TOKYO - Toyota's Prius started out a decade ago as a risky experiment in green technology. Today, it's the world's first mass-produced gas-electric hybrid vehicle to hit the one million mark in sales....

CAW still negotiating early collective agreement with GM, Chrysler

TORONTO - Negotiations continue early Thursday as the Canadian Auto Workers union works to reach an early collective agreement with General Motors and Chrysler. The union typically reaches a collec...