Business News

Rabaska signs letter of intent with Gazprom for LNG supply

LEVIS, Que. - Russian energy giant Gazprom plans to enhance its North American presence by partnering with Canadian pipeline companies Enbridge Inc. (TSX:ENB) and Gaz Metro (TSX:GZM.UN) to supply the ...

Judge denies attempt to halt Keystone oil pipeline

BISMARCK, N.D. - A judge has refused to stop construction of a crude-oil pipeline that would be built by TransCanada Corp. (TSX:TRP) through eastern North Dakota, saying state regulators took adequate...

Neenah Paper hands over Pictou pulp mill to U.S. private equity interests

HALIFAX - Two American private equity firms and a management group are taking over a pulp mill that employs almost 300 people in northeastern Nova Scotia - with the senior manager saying there's a pla...

Metals, financials support TSX;lower oil helps send NY indexes up

TORONTO - The Toronto stock market was back in record territory Thursday afternoon with most segments positive even as investors took in data which showed that a weakening U.S. economy is hurting manu...

Fed chair Bernanke: Banks must get better at foreseeing risk

WASHINGTON - Commercial banks and other financial institutions need to beef up their ability to detect and protect themselves against risks like the credit and mortgage debacles, U.S. Federal Reserve ...

IMF chief says worst of global financial shakeout may be over

BRUSSELS, Belgium - The head of the International Monetary Fund said Thursday that the worst of the global financial turbulence appears to be over but predicted the effects would be felt for some time...

Coalcorp ends strategic, seeks to up production amid high coal prices

TORONTO - Coalcorp Mining Inc. (TSX:CCJ) is no longer trying to sell itself, choosing instead to focus on developing its La Francia project and increasing production to take advantage of high coal pri...

Canadian housing boom over, but no bust on the horizon: CMHC, Scotiabank

TORONTO - Canada's housing market boom is over but it won't be followed by the kind of bust that has characterized the U.S. subprime meltdown, say two real estate reports released Thursday. Canada ...

Oil prices reverse course and fall, sharp drop in natural gas prices

NEW YORK - Oil futures gave up early gains and fell sharply Thursday, a move analysts attributed to the expiration of options and to a sharp drop in natural gas prices. Retail gas prices in the U.S., ...

CBS in US$1.8B deal for online news, info site CNet

NEW YORK - Media and entertainment company CBS Corp. is buying CNet Networks Inc., an online news and information provider, for US$1.8-billion in cash in its latest bid to expand its reach on the Inte...