TSX little changed on weak metals stocks as RBC writes down $855M;NY higher
The Toronto stock marker failed Wednesday to make a convincing breakout to fresh record territory as early triple-digit gains melted away in the face of rising losses in base and precious metal stocks.
Ivanhoe Mines says Q1 loss widens to US$63.6M or 17 cents per share
Ivanhoe Mines Ltd. (TSX:IVN) said its first-quarter loss grew by 24 per cent on higher exploration and administration expenses.
TSX Venture Exchange closed 11.73 points higher at 2,567.68
The TSX Venture Exchange rose 11.73 points to close at 2,567.68 from Tuesday's close. Volume at 4 p.m. ET was 253.06 million shares.
Canadian dollar closed 0.15 of a cent lower at 99.57 cents US
The Canadian dollar closed 0.15 of a cent lower at 99.57 cents US on Wednesday. The U.S. dollar stood 100.43 cents Cdn, up 0.15 of a cent.
Analysts divided on whether BCE deal will be re-priced lower
A late agreement between Clear Channel and its banks has raised questions in Canada about whether the existing US$52-billion privatization of BCE Inc. (TSX:BCE) may be re-priced lower and force new shareholder approval.
Scroll Down for More Business.
Opinion Poll
Advertisement
Advertisement
Most Popular Business Articles
Most Discussed Business Articles
Search Articles
New Patheon CEO shuffles top management to give company new look
Patheon Inc.'s (TSX:PTI) new CEO Wes Wheeler has shaken up his management team, including appointing a new chief financial officer, in a move that's expected to give the restructuring contract pharmaceutical manufacturer "a new look."
Merck says appeals court has overturned verdict in Vioxx case
A Texas appeals court has overturned a multi-million dollar verdict against Merck and Company, the former maker of Vioxx.
Gas above US$3.75 a gallon in U.S.; oil falls on mixed supply report
Gas prices in the United States roared above US$3.75 a gallon Wednesday, while oil prices fell after an U.S. Energy Department report gave a mixed picture of the country's petroleum reserves.
Thomas Cook gold quote: C$867 at close Wednesday
Gold was quoted at C$867 bid (US$866) and C$868 asked (US$867) at the close of trading Wednesday by Thomas Cook, a major gold and foreign exchange dealer.
Canadian earnings, dividends and distributions declared Wednesday
Canadian earnings declared Wednesday as of 3:30 p.m. ET:
PCs, NDP want job guarantees as Ont. offers GM more money following layoffs
Ontario's Liberal government is prepared to give General Motors more taxpayers' money for new projects despite thousands of layoffs recently announced by an automaker that's already received $235 million from the province, Premier Dalton McGuinty said Wednesday.
Business in Pictures
CAE triples dividend as it foresees strong future results
Flight simulator and training company CAE Inc. (TSX:CAE) signalled its faith in a strong future Wednesday by tripling its quarterly dividend and restoring the amount to the pre-restructuring level enjoyed in 2004.
Judge hands Imperial Oil defeat in bid to build Kearl oilsands mine
A federal judge has handed Imperial Oil Ltd. (TSX:IMO) a defeat in its efforts to move ahead with the $8-billion Kearl oilsands mine - a project environmentalists say would destroy huge tracts of boreal forest in Northern Alberta.
North American Gem unearths Sask. coal property buy, shares jump 35 per cent
Shares of North American Gem Inc. (TSXV:NAG) got a major boost on Wednesday, jumping 35 per cent in afternoon trading, after the company said it would acquire a coal property from Adamas Minerals Corp. in a cash and share agreement.
Royal Bank stock rises after word of $855M in 'market conditions' writedowns
Royal Bank of Canada (TSX:RY) will be hit by $855 million in writedowns "relating to market conditions" as part of its second-quarter results.
Northern Securities settles with RS: fine 'not material,' Alboini case stayed
Northern Financial Corp. (TSX:NFC) said Wednesday its Northern Securities Inc. subsidiary has settled a trading-supervision complaint bought in October 2005 by Market Regulation Services.
Petaquilla says partner Inmet will manage copper property in Panama
Petaquilla Copper Ltd. (TSX:PTC) said partner Inmet Mining (TSX:IMN) will manage a jointly-owned copper project in Panama in a bid to begin production on schedule.
Northland Power gets financing for Jardin d'Eole wind farm, commits $35M
Northland Power Income Fund (TSX:NPI.UN) says it has obtained financing for its $268-million Jardin d'Eole wind farm, and is committing $35 million itself toward the project.
Lanesborough REIT rises to $301,000 income after year-ago loss
Lanesborough Real Estate Investment Trust (TSX:LRT.UN) sneaked out of the red to post $301,000 income in the first quarter as revenues move higher.
Birchcliff Energy reports Q1 profit of $3.8M, compared to loss of $1.4M last year
Birchcliff Energy Ltd. (TSX:BIR), a Calgary-based oil and natural gas company, said Wednesday that despite a loss in its hedging program it racked up a first quarter profit of $3.8 million, compared to a loss of $1.4 million at the same time last year.
Corby Distilleries posts $5.9M profit in Q3, declares dividend of 14 cents
Corby Distilleries Ltd. (TSX:CDL.A) says that its third quarter net earnings have risen to $5.9 million, helped by growing sales revenues that climbed on higher selling prices and volume growth.
Petrobank Energy reports Q1 profit of $35.5 million, up from last year
Petrobank Energy and Resources Ltd. (TSX:PBG) had a first-quarter profit of $35.5 million, up 850 per cent from the year-earlier period, which was before its merger with fellow oil and gas producer Peerless Energy Inc..
Freddie Mac loses US$151M in first quarter, but beats expectations
U.S. mortgage finance company Freddie Mac said Wednesday its first quarter loss widened to US$151 million as the U.S. housing market worsened, though the results were not as poor as expected. Its shares jumped on the news.
Delta pilots approve contract revisions raising pay, benefits
Delta Air Lines Inc. pilots voted overwhelmingly in favour of changes to their contract that will give them pay raises, an equity stake and other benefits, but also will give management more leeway as part of a proposed combination with Northwest Airlines Corp.
U.S. Inflation pressures ease despite biggest food price jump in 18 years
Inflation pressures eased a bit in April despite the biggest jump in food prices in 18 years.
Can't find what you're looking for? Try the article search.
More CE Network Sites & Partners:
