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Manitoba Crown corporations, communications jobs need trimming: premier + MORE Dec 29th
Manitoba’s Crown corporations, especially their communications departments, seem next in line for Premier Brian Pallister’s cost-cutting efforts.
In a year-end interview with The Canadian Press, Pallister touted his 2016 measures to reduce spending in government — cutting the number of.... More »
Valeant’s new bonus math puts debt holders in driver’s seat + MORE Mar 2nd
Shift means executives’ incentives are no longer tied to adjusted earnings per share
.... More »
This detached home in Toronto is listed for $750,000. Nearby homes have sold for a million. Why is it priced this way? Oct 8th
#GTAHomeHunt is a weekly series from the Star that gets into the details of real estate listings in Toronto and the Greater Toronto Area. Have a tip? Email us at social@torstar.ca.... More »
Ontario, Ottawa shelling $100M for Toyota expansion + MORE Jul 31st
The federal and provincial governments have put aside their differences and teamed up to provide financial assistance to help expand Toyota's manufacturing operations in southern Ontario..... More »
European shares fall as investors take stock of spreading virus - Reuters + MORE Mar 27th
European shares fall as investors take stock of spreading virus ReutersView Full coverage on Google News.... More »
Business Highlights
– canadianbusiness.com
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Market jolt is reality check for investors
NEW YORK (AP) — Sometimes a little fear is healthy for stock investors.
A violent lurch lower nine days ago knocked the Standard & Poor’s 500 index down as much as 7.4 per cent from its September peak as fears of a global economic slowdown intensified. Stocks have revived this week, thanks to strong corporate earnings, and on Friday the S&P 500 was marching toward its best performance in nearly two years.
How should investors view this intense flip-flop? As an overdue reminder that stocks aren’t a one-way ride up.
While last week’s slump doesn’t technically count as a correction — defined as a 10-per cent drop from a peak — that’s how many professional investors view it.
In fact, such sell-offs often provide a base for another move higher in stocks, market observer say.
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Venezuelans brace for slump in oil prices
CARACAS, Venezuela (AP) — The falling oil prices that are providing relief to drivers around the world threaten to bring more misery to the life of Milagro Alvarez and millions of other Venezuelans, whose country depends almost exclusively on oil revenue…
Market jolt is reality check for investors
NEW YORK (AP) — Sometimes a little fear is healthy for stock investors.
A violent lurch lower nine days ago knocked the Standard & Poor’s 500 index down as much as 7.4 per cent from its September peak as fears of a global economic slowdown intensified. Stocks have revived this week, thanks to strong corporate earnings, and on Friday the S&P 500 was marching toward its best performance in nearly two years.
How should investors view this intense flip-flop? As an overdue reminder that stocks aren’t a one-way ride up.
While last week’s slump doesn’t technically count as a correction — defined as a 10-per cent drop from a peak — that’s how many professional investors view it.
In fact, such sell-offs often provide a base for another move higher in stocks, market observer say.
___
Venezuelans brace for slump in oil prices
CARACAS, Venezuela (AP) — The falling oil prices that are providing relief to drivers around the world threaten to bring more misery to the life of Milagro Alvarez and millions of other Venezuelans, whose country depends almost exclusively on oil revenue…
Regulators close small bank in Illinois; brings US bank failures to 16 in 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in Illinois, bringing U.S. bank failures this year to 16 after 24 closures in all of 2013.
The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago.
The bank, which operated two branches, had about $954.4 million in assets and $915.3 million in deposits as of June 30.
State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank’s assets and assume all of National Republic Bank’s deposits.
National Republic Bank is the fifth FDIC-insured institution to fail in Illinois this year. Its failure is expected to cost the deposit insurance fund $111.6 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago.
The bank, which operated two branches, had about $954.4 million in assets and $915.3 million in deposits as of June 30.
State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank’s assets and assume all of National Republic Bank’s deposits.
National Republic Bank is the fifth FDIC-insured institution to fail in Illinois this year. Its failure is expected to cost the deposit insurance fund $111.6 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
US stocks rise as more companies post gains
– moneysense.ca
(Getty Images/Sandra Bake)
NEW YORK, N.Y. – Stocks are rising in midday trading as U.S. companies report more earnings gains.
UPS and Microsoft rose after reporting earnings that were higher than analysts were expecting. Procter & Gamble rose after saying it would make its Duracell battery business a stand-alone company.
The Dow Jones industrial average rose 84 points, or 0.5 per cent, to 16,762 as of 11:55 a.m. Eastern time Friday. The Dow jumped 216 points the day before.
The Standard & Poor’s 500 index rose eight points, or 0.5 per cent, to 1,959. The Nasdaq composite rose 17 points, or 0.4 per cent, to 4,470.
Crude oil fell 99 cents to $81.12 a barrel in New York.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 per cent.
(Canadian Business / Associated Press)
The post US stocks rise as more companies post gains appeared first on MoneySense.
Capital Power post $45M net loss in Q3; cites writedown on tax assets, outages
– canadianbusiness.com
EDMONTON – Capital Power Corp. (TSX:CPX) has reported a net loss attributable to shareholders in the third quarter of $45 million or 62 cents per diluted share, a reversal from net income of $44 million or 51 cents per diluted share in the comparable 2013 period.
The Edmonton-based utility, which has assets in both Canada and the United State, blamed the loss on a $73-million non-cash writedown of deferred tax assets as well as the timing of both unplanned outages and the extension of a planned outage in the quarter.
Revenue in the period totalled $248 million, down from $380 million.
“Financial results in the third quarter were below our expectations, primarily due to an extended planned outage and unplanned outages at the acquired Sundance PPA units and other plant derates,” president and CEO Brian Vaasjo said in the earnings release, issued Friday after markets closed.
Vaasjo said the outages occurred primarily in July when Alberta spot power prices averaged $122 per megawatt hour…
The Edmonton-based utility, which has assets in both Canada and the United State, blamed the loss on a $73-million non-cash writedown of deferred tax assets as well as the timing of both unplanned outages and the extension of a planned outage in the quarter.
Revenue in the period totalled $248 million, down from $380 million.
“Financial results in the third quarter were below our expectations, primarily due to an extended planned outage and unplanned outages at the acquired Sundance PPA units and other plant derates,” president and CEO Brian Vaasjo said in the earnings release, issued Friday after markets closed.
Vaasjo said the outages occurred primarily in July when Alberta spot power prices averaged $122 per megawatt hour…
The Ford Motor Co. is saying adios to plans for a new Windsor, Ont.-built global engine, opting to take the investment and jobs to Mexico, the autoworkers union says.
