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Joblessness at 10 per cent in U.S. for second time since Second World War
Just when it was beginning to look a little better, the U.S. economy relapsed Friday with a return to double-digit unemployment for only the second time since the Second World War and warnings that next year will be even worse than previously thought.
Warren Buffett's company says profit triples to $3.2B as derivatives soar
Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said Friday that many of its other operating businesses struggled.
AutoCanada Income Fund reports Q3 profit compared with loss a year ago
AutoCanada Income Fund (TSX:ACQ.UN) said Friday that it earned $5.1 million in its latest quarter compared with a loss of $38.3 million a year ago.
Live Nation-Ticketmaster vote set for Jan. 8, past the expected closure
In a tacit acknowledgment of a delay in their plan to combine, Live Nation Inc. and Ticketmaster Entertainment Inc. said in filings Friday that a shareholders meeting to approve the deal is set for Jan. 8.
Regulators shut small banks in four states; marks 119 US bank failures this year
Regulators on Friday shut small banks in Georgia, Michigan, Minnesota and Missouri, bringing the number of bank failures this year to 119 amid the struggling economy and a cascade of defaults on loans.
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Epcor Utilities reports quarterly loss compared with profit a year ago
Epcor Utilities Inc. reported a loss in its most recent quarter on Friday compared with a profit a year ago.
Livingston trustees re-affirm support for CPPIB bid after Mullen makes offer
Trustees of Livingston International Income Fund (TSX:LIV.UN) re-affirmed their recommendation Friday that unitholders vote in favour takeover by group led by the Canada Pension Plan Investment Board after receiving a second offer by Mullen Group Ltd. (TSX:MTL).
Freddie Mac loses $6.3 billion, avoids request for aid for 2nd-straight quarter
Freddie Mac's losses narrowed to US$6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
Parkland Income Fund reports Q3 profit of $10.1M, down from year ago
Parkland Income Fund (TSX:PKI.UN) said Friday that it earned $10.1 million in its latest quarter, down from a year ago.
Most actively traded companies on the TSX, TSX Venture Exchange markets
Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange:
General Donlee sales and profit fall in Q3
Machine parts maker General Donlee Income Fund (TSX: GDI.UN) said sales fell 36 per cent in the July-September period, citing the impact of the economic slowdown on the manufacturing industry.
Business in Pictures
Market volumes Friday
Friday's trading volume for the major stock market at 5:30 p.m. ET:
TSX Venture Exchange closes up 9.07 points to 1,340.62 Friday
The TSX Venture Exchange settled at 1,340.62 up 9.07 points on Friday. The volume at 5 p.m. was 319.29 million shares.
Air Canada posts net profit in third quarter, turns around year-ago loss
Air Canada (TSX:AC.B) is seeing small signs of improvement in air travel but says a full recovery in its key business class could be least a year away, the airline's chief executive said Friday.
Judge vacates $1.26B ruling against PepsiCo; company to get its day in court
A judge has tossed out a decision - for now at least - that could have cost PepsiCo Inc. $1.26 billion after the soft drink maker didn't respond to a lawsuit claiming it stole the idea for bottled water.
Obama signs bill extending US jobless benefits, homebuyer tax credit
President Barack Obama signed into law a $24 billion economic stimulus bill providing tax incentives to prospective homebuyers and extending unemployment benefits to the longtime jobless who have been left behind as the U.S. economy veers toward recovery.
MDA wins $46-million contract with Canadian Space Agency for prototypes
MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Friday it has won a $46-million contract from the Canadian Space Agency to develop prototypes and new robotic systems for future space missions.
AIG posts 2nd straight profit amid signs of stabilization, CEO says earnings volatility ahead
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
Shares of auto parts company Magna International close up more than 14 per cent
Shares of Magna International Inc. (TSX:MG.A) jumped more than 14 per cent in trading Friday after the auto parts company reported a third-quarter profit of $51 million and was reported to be involved in a new auto palant in Russia.
SNC Lavalin posts net profit in third quarter up from year-ago income
The new head of SNC-Lavalin (TSX:SNC) says the engineering and construction company is not overly concerned about security threats to its operations in Algeria.
Claude Resources narrows third quarter loss to $0.4 million from $1.7 million
Claude Resources Inc. (TSX:CRJ), a small gold miner based in Saskatoon, reports its net loss narrowed in the third quarter to $0.4 million from $1.7 million.
Cascades has six quarter of improved results; earns $34 million in Q3
Shares in Cascades Inc. (TSX:CAS) increased almost five per cent on Friday after the Quebec-based paper and packaging company (TSX:CAS) reported its sixth consecutive quarter of improved results.
Gold stocks send TSX higher, N.Y. little changed amid disappointing jobs data
The Toronto stock market advanced Friday as investors dealt with dismal employment data from Canada and the United States and as gold stocks continued to run ahead amid record high bullion prices.
Petrolifera reports Q3 loss of $11.4 million as revenue cut almost in half
Petrolifera Petroleum Ltd. (TSX:PDP) reported a major reversal Friday in third-quarter revenue and earnings.
ClubLink Enterprises reports Q3 profit of $17 million, up from year ago
ClubLink Enterprises Ltd. (TSX:CLK) said Friday that it earned $17 million in its latest quarter, up from $14.5 million a year ago.
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