Country 890AM - Peace - Business News

U.S. trade deficit in August falls to US$59.1 billion

Fri, 10 Oct 2008 21:09:39 +0000

WASHINGTON - The U.S. trade deficit edged down in August as foreign oil imports retreated from a record high the previous month, a drop that more than offset a setback in exports. The Commerce Depa...

Finance chiefs meet in Washington amid bank turmoil around world

Fri, 10 Oct 2008 21:09:41 +0000

WASHINGTON - Finance ministers from the world's seven richest countries met Friday in Washington as the upheaval in financial markets showed no sign of abating even in the face of sweeping rescue effo...

Beverage company PepsiCo to renew effort on soft drinks sales

Fri, 10 Oct 2008 21:09:49 +0000

NEW YORK - PepsiCo, the world's second-largest beverage company, said Friday it was launching a new marketing campaign to refocus attention on soft drinks, which have seen lagging sales. Carbonated...

Oil plunges to 13-month low on global slowdown

Fri, 10 Oct 2008 21:09:38 +0000

NEW YORK - The stunning collapse in oil markets accelerated Friday, with a barrel plunging below US$78 as investors grow more pessimistic about a mushrooming global economic crisis. A barrel of oil...

Media giant CBS slashes operating profit forecasts

Fri, 10 Oct 2008 21:09:40 +0000

NEW YORK - Media giant CBS Corp. slashed its operating profit forecast for fiscal 2008, citing the U.S. economy's deterioration and its declining ad revenue. The company expects its adjusted operat...

TSX says trading resumes on 38 companies after halt due to technical issue

Fri, 10 Oct 2008 21:09:42 +0000

TORONTO - The Toronto Stock Exchange (TSX:X) halted trading on 38 stocks for more than two and a half hours on Friday after a technical issue. The technical problem came on a day that saw the main ...

Energy stocks push TSX lower; NY improves on rising financials

Fri, 10 Oct 2008 20:18:53 +0000

TORONTO - It's been a wild day for North America's stock markets. The Toronto stock market was sharply lower late in the afternoon as big selloffs in energy and metals stocks helped push the main i...

GE quarterly profit fades 22 per cent to US$4.3B but meets lower forecast

Fri, 10 Oct 2008 20:19:00 +0000

HARTFORD, Conn. - General Electric Co. spared investors any nasty surprises as it reported a 22 per cent drop in third-quarter earnings, meeting its own lowered forecast and blaming the decline on its...

U.S. trade deficit shrinks to $59.1B in August as oil imports fade

Fri, 10 Oct 2008 20:18:55 +0000

WASHINGTON - The U.S. trade deficit edged down slightly in August, reflecting a drop in foreign oil from record levels. But the politically sensitive deficit with China increased as imports from that ...

Clearwater privatization deal getting financing offers, but cost too high: owner

Fri, 10 Oct 2008 19:42:57 +0000

HALIFAX - Fisheries magnate John Risley says he's had several offers from banks willing to finance his purchase of publicly traded Clearwater Seafoods (TSX:CLR.UN) units, but so far the interest rates...

Sticky situation: Fate of oilsands players seen as a question of timing

Fri, 10 Oct 2008 19:43:00 +0000

CALGARY - Shrivelling oil prices will continue to knock down the price of fuel, while the oilpatch is bracing for rocky times as profit margins narrow and credit becomes tougher to come by. Crude o...

Oil prices plunge to 13-month low on global slowdown

Fri, 10 Oct 2008 19:42:53 +0000

NEW YORK - Oil prices plunged in another violent sell-off Friday, briefly tumbling below US$78 a barrel as investors grow more pessimistic about the prospects for resolving a mushrooming global econom...

TSX says trading resumes on 38 companies after halted due to technical issue

Fri, 10 Oct 2008 19:42:58 +0000

TORONTO - The Toronto Stock Exchange (TSX:X) said Friday afternoon that trading on 38 stocks that had been halted because of a technical issue has resumed. The technical problem came on a day that ...

Energy stock selloff helps send TSX down 600 points;NY also far down

Fri, 10 Oct 2008 19:08:23 +0000

TORONTO - Big selloffs in energy and metals stocks were mainly responsible for a slide of about 600 points on the Toronto Stock Exchange in early afternoon trading, taking it below the 9,000-point lev...

TSX plunges under 9,000 as commodity stocks sell off;C$ also tumbles

Fri, 10 Oct 2008 18:06:22 +0000

TORONTO - Big selloffs in energy and metals stocks were mainly responsible for an early afternoon slide that dropped the Toronto Stock Exchange below the 9,000-point mark for the first time since Janu...