Business Digest

Published Wednesday November 19th, 2008
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Source: The Daily Gleaner

PARIS - France plans new summit of world leaders

France says it will host a January summit of world leaders and experts to seek solutions to the global financial crisis, in a follow-up to last weekend's summit.

The office of President Nicolas Sarkozy says former British Prime Minister Tony Blair is helping prepare the Paris meeting for Jan. 8-9.

French officials view the summit, announced Tuesday, as a complement to last weekend's summit in Washington on the financial crisis.

Sarkozy and British Prime Minister Gordon Brown came home from that summit with less ambitious commitments than they had pushed for.

French officials say it is too soon to list leaders attending the January summit but Nobel economists including Joseph Stiglitz and India's Amartya Sen will be present.

Plazacorp raises dividend for 2009 to 18.5 cents a share

FREDERICTON - Plazacorp Retail Properties Ltd. says its board of directors has approved an increase of the real estate company's annual dividend payment to 18.5 cents per share for 2009, from 17.5 cents this year.

The new quarterly dividend of 4.625 cents a share will be paid in February, May, August and November next year, Plazacorp said Monday.

Plazacorp owns shopping malls and strip plazas throughout Atlantic Canada, Quebec and Ontario, with interests in 92 properties.

Honda, Toyota support government help to Big Three

TORONTO - Ontario's premier says Honda and Toyota want the government to help their struggling competitors - the Detroit Three.

Dalton McGuinty says when he met with the five automakers last week, representatives from Honda and Toyota were supportive of government efforts to stabilize General Motors, Ford and Chrysler.

McGuinty says both Japanese automakers are worried that the collapse of one of the Big Three will produce "supplier shock."

He says they fear companies who supply parts to the Big Three would not be able to sustain themselves if one failed.

Alberta surplus drops $6.5 billion

EDMONTON - Plummeting oil prices and crashing stock markets have bitten a $6.5-billion chunk from Alberta's budget surplus estimate, but the province says it still expects record energy revenues this year.

Alberta budget documents from last April suggest a major cash crunch may be coming.

But the province has some big economic cushions to soften the impact of he financial calamity, at least in the short term.

Sources: The Canadian Press, The Associated Press

 

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