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Marlboro maker Altria's 1Q profit falls on lower cigarette sales, year-ago comparison

Apr 24, 2014 / 2:10 pm

RICHMOND, Va. - Altria Group Inc.'s first-quarter profit dropped 15 per cent as the Marlboro maker sold fewer cigarettes and its year-ago results benefited from lower expenses from a longstanding legal settlement.The owner of the nation's biggest cigarette maker, Philip Morris USA, said Thursday...

The debate in the U.S. over Keystone XL, summarized in a single scene

Apr 24, 2014 / 1:52 pm

WASHINGTON - A visual snapshot of the rowdy American debate over the Keystone XL pipeline played out Thursday on one of the world's most famous stages.A couple of dozen people noisily protested the pipeline, with an assortment of news cameras — and one or two hecklers who support the project...

Money matters: Alberta government passes $43-billion budget for 2014-15

Apr 24, 2014 / 1:50 pm

EDMONTON - The Alberta government has officially approved its $43-billion budget for 2014-15.The document has completed third reading and the governing Tories used their majority to pass it 33-20.The budget forecasts a $1.1-billion surplus in day-to-day spending but infrastructure debt is pegged to...

Shaw chases listeners in partnership with streaming music company Rdio

Apr 24, 2014 / 1:44 pm

Shaw Communications Inc. (TSX:SJR.B) is getting into the streaming music business through a partnership with digital service Rdio.The Calgary-based telecommunications company said Thursday that it has launched a marketing, content and promotion partnership designed to boost the presence of Rdio in...

Caterpillar's 1st quarter profit climbs 5 per cent, 2014 forecast also rises

Apr 24, 2014 / 1:22 pm

Caterpillar's first-quarter earnings rose 5 per cent, and the construction equipment maker raised its 2014 forecast. But the company also said Thursday that a mining equipment sales slump is still hurting results.The Peoria, Ill., company now expects 2014 earnings of $6.10 per share excluding...

How to hit spring and summer music festivals without hitting a sour financial note

Apr 24, 2014 / 1:12 pm

NEW YORK, N.Y. - As the air gets warmer and spring blossoms, the season of music festivals is upon us. From Bonnaroo Music & Arts Festival in Tennessee in June to Lollapalooza in Chicago in August, music lovers across the country will soon begin to flocking to festivals, which can draw hundreds...

Quebec's 2013-14 deficit jumped to $3.1 billion from $2.5 billion: Couillard

Apr 24, 2014 / 1:00 pm

QUEBEC - Quebec's new premier says the province's deficit for the most recent fiscal year is $600 million more than projected.Philippe Couillard says the 2013-14 deficit has clocked in at more than $3.1 billion instead of the $2.5 billion mentioned by the Parti Quebecois before the recent...

PotashCorp has Q1 earnings of US$340 million, says market conditions improving

Apr 24, 2014 / 12:34 pm

SASKATOON - Potash Corp. of Saskatchewan Inc. earned US$340 million in the first quarter, down from the same time last year, but better than it expected at the beginning of 2014, the fertilizer producer said Thursday.The company said potash prices trended higher in key markets as the quarter...

A look at what farmers expect to plant this crop year

Apr 24, 2014 / 12:18 pm

OTTAWA - A Statistics Canada survey between March 24 and March 31 asked 11,500 farmers in Quebec, Ontario, Manitoba, Saskatchewan and Alberta about their planting intentions for grains, oilseeds and specialty crops.Some national figures:Soybeans: 5.3 million acres — increase of 16.5 per cent...

Farmers to plant more soybeans this year, but less wheat and barley: StatsCan

Apr 24, 2014 / 12:16 pm

OTTAWA - A Statistics Canada survey of seeding intentions for the upcoming growing season shows soybeans continue to be the crop of choice for many producers.It also says farmers are cutting back on how much wheat, corn for grain and barley they plant.The survey between March 24 and March 31 asked...

FDA approves Roche genetic test as an alternative to pap smear for cervical cancer screening

Apr 24, 2014 / 12:14 pm

WASHINGTON - Federal health regulators have cleared a genetic test from Roche as the first U.S.-approved alternative to the pap smear, the decades-old mainstay of cervical cancer screening.The Food and Drug Administration approved Roche's cobas HPV test to detect the human papillomavirus, or HPV,...

Applications for US unemployment aid jumped last week to 329K, likely due to Easter layoffs

Apr 24, 2014 / 11:44 am

WASHINGTON - The number of people seeking U.S. unemployment benefits surged 24,000 to a seasonally adjusted 329,000 last week, though the gain likely reflected temporary layoffs in the week before Easter.The Labor Department said Thursday that the four-week average of applications, a less volatile...

Canadians can bank on low interest rate environment for years to come: Poloz

Apr 24, 2014 / 11:44 am

Bank of Canada governor Stephen Poloz says Canadians should expect cheap borrowing costs to last for years even after he finally gets around to hiking interest rates.The central banker told a business group in Saskatoon that the Canadian economy has room to grow but even when it returns to full...

Orthopedic device maker Zimmer buying Biomet in cash-and-stock deal valued at about $13.35B

Apr 24, 2014 / 11:16 am

WARSAW, Ind. - Orthopedic device maker Zimmer is buying privately-held Biomet for about $13.35 billion in a move aimed at helping expand its product offerings and services.Even though it is the buyer, Zimmer shares rose more than 17 per cent in morning trading Thursday. Shares of companies that...

Alberta, Ottawa spend $1.35 million to keep province free of deadly pig virus

Apr 24, 2014 / 11:02 am

EDMONTON - The federal and Alberta governments are spending $1.35 million on a plan to help keep diseases that kill pigs out of the province.Since last May the porcine epidemic diarrhea virus (PED) has swept through more than 5,700 farms in 30 states in the U.S., killing millions of baby pigs.The...

Orders for US durable goods up solid 2.6 per cent in March with strength in business investment

Apr 24, 2014 / 10:54 am

WASHINGTON - Orders to U.S. factories for long-lasting manufactured goods posted a solid gain for the second straight month in March. A key category that signals business investment plans increased at the fastest pace in four months.Orders for durable goods increased 2.6 per cent in March following...

General Motors 1Q results worst since 2009 due to recall costs; CEO says sales holding up

Apr 24, 2014 / 10:50 am

DETROIT - The cost of recalling nearly 7 million cars and trucks sank General Motors' first-quarter profit, but the company's CEO said the much-publicized recalls have yet to cut into sales.GM on Thursday reported its worst financial results in more than four years, with profit falling 86 per cent...

After merger, American Airlines and US Airways post first-quarter profit of $480 million

Apr 24, 2014 / 10:38 am

DALLAS - American Airlines is making money again and beating expectations after its merger with US Airways.The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines,...

Barrick Gold makes renewed overture to Newmont: Globe and Mail reports

Apr 24, 2014 / 10:20 am

TORONTO - Barrick Gold Corp. (TSX:ABX) has renewed its overtures to Newmont Mining Corp. to resume merger talks, the Globe and Mail reports.Citing an unidentified person familiar with the situation, the Globe says Barrick has formally proposed reopening talks that broke down last week.Analysts have...

UPS 1Q profit falls 12 per cent as winter storms raise costs, cut into revenue

Apr 24, 2014 / 9:24 am

DALLAS - First-quarter revenue at UPS slumped 12 per cent as winter storms increased costs for the shipping giant and cut into its revenue.The Atlanta company said Thursday that the rough start to the year means that full-year earnings will come in at the low end of its earlier forecasts.UPS Inc....

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