News blog
MONTREAL – There’s renewed optimism that the takeover of Bell Canada by a group led by the Ontario Teachers Pension Plan will go ahead.
The U.S. government has agreed to a rescue plan for Citigroup, the major U.S. bank that is the lead lender in the $52-billion purchase of Canada’s largest telecom company.
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Filed under: money by Wolf
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WASHINGTON – Construction of new homes in America plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived.
Embattled homebuilders, who enjoyed a five-year boom, are now building new homes and apartments at a record-low pace, according to government data released […]
Filed under: marketing by Wolf
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U.S. retail sales in October suffered the worst monthly drop on record as more Americans shunned discretionary purchases amid accelerating job losses in a worsening economy.
It marked the fourth consecutive decline in monthly retail sales.
The Commerce Department said Friday that retail sales fell 2.8% last month, compared with a revised 1.3% drop in September. […]
Filed under: legal by Wolf
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Chinese solar cell maker JA Solar Holdings Co Ltd said on Wednesday the global economic slump had triggered a “panic” in the solar market, prompting it to slash its sales forecasts and sending its shares down more than 25 percent.
Sales of solar cells and panels have risen sharply in recent quarters as companies such […]
Filed under: business by Wolf
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Alberta and Saskatchewan are determined to clean up coal and pump carbon dioxide back into the ground, two achievements that would turn the world’s dirtiest fossil fuels – coal and tar-sands oil – into a climate-friendly source of energy.
That’s the theory.
Last week, Edmonton-based Epcor Utilities filed two "expressions of interest" with the Alberta government in […]
Filed under: term by Wolf
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General Motors Corp., once the world’s mightiest company, is on its knees today after reporting another huge quarterly loss that will prompt more cuts, including 500 extra layoffs in Oshawa.
Detroit-based GM said yesterday it spilled $2.5 billion (U.S.) in red ink during the three months ending Sept. 30 and warned it could run out of […]
Filed under: finance by Wolf
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China's Finance Minister Xie Xuren was called back from an international economic conference in Peru before the meeting began, following orders from Beijing to help resolve problems at home, an organizer of the event said.
Xie left Trujillo, Peru, where Asia-Pacific Economic Cooperation finance officials are meeting this week, shortly after arriving at 11:00 […]
Filed under: management by Wolf
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President-elect Barack Obama’s Treasury secretary must be a regulator, diplomat, defender of the dollar and master of depleted coffers, all while figuring out how to escape a nasty recession.
The past 14 months of market turmoil have dramatically changed the job description, perhaps more so than at any time since William Woodin was appointed to […]
Filed under: term by Wolf
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Circuit City Stores Inc. said Monday it is closing about 20% of its U.S. stores - cutting thousands of jobs - in an effort to return the nation’s No. 2 consumer electronics retailer to profitability.
The Richmond, Va.-based company said it will shutter 155 of its more than 700 stores in 55 markets, including Phoenix […]
Filed under: marketing by Wolf
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