Monday, October 20th14.3°C
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TSX racks up solid gain, traders look for stability after major sell-off

Oct 20, 2014 / 2:10 pm

TORONTO - The Toronto stock market closed sharply higher Monday as investors snapped up oversold stocks for a third day in hopes a bottom is close in the sell-off that has plagued markets this month.The S&P/TSX composite index gained 110.09 points to 14,337.77 — its third straight...

Canadian Pacific says exploratory merger talks with CSX ended without a deal

Oct 20, 2014 / 2:02 pm

CALGARY - Canadian Pacific Railway Ltd. says talks with U.S. peer CSX Corp. have ended without a deal, putting a damper on the Calgary-based company's hopes for an expanded North American rail network.CP (TSX:CP) said Monday that no further talks are planned with CSX of Jacksonville, Fla. It did...

Loonie down, markets look to Bank of Canada rate announcement, China growth data

Oct 20, 2014 / 1:44 pm

TORONTO - The Canadian dollar closed lower Monday at the start of a key week for the currency.The loonie shed 0.06 of a cent to 88.62 cents US amid gains in Canadian wholesale sales in August.Statistics Canada said those sales edged up 0.2 per cent to $53.1 billion. The agency said that gains in...

Lewinsky calls herself 'patient zero' in cyberbullying, calls for end to online hostility

Oct 20, 2014 / 1:24 pm

PHILADELPHIA - Monica Lewinsky says she was "patient zero" in a cyberbullying epidemic that has since been blamed for teen suicides and celebrity exploitation.The 41-year-old Lewinsky on Monday called for a cultural revolution to stem the "compassion deficit" fueling online hostility.The former...

IBM sheds chip division as it tries to steer struggling business toward cloud

Oct 20, 2014 / 1:08 pm

NEW YORK, N.Y. - IBM disappointed investors Monday, reporting weak revenue growth again and a big charge to shed its costly chipmaking division as the tech giant tries to steer its business toward cloud computing and social-mobile services. Shares fell more than 7 per cent as investors sold off...

Valeant considering higher bid for Allergan after reporting strong Q3 results

Oct 20, 2014 / 12:36 pm

MONTREAL - Valeant Pharmaceuticals reported improved third-quarter results and raised its outlook Monday while also saying it was considering raising its hostile takeover offer for Botox maker Allergan Inc."We consider it every day. We do have some more dry powder," Valeant chief executive Michael...

Wholesale sales up 0.2 per cent to $53.1 billion in August: Statistics Canada

Oct 20, 2014 / 12:10 pm

OTTAWA - Wholesale sales increased 0.2 per cent to $53.1 billion in August, boosted by an increase in sales of machinery, equipment and supplies, Statistics Canada reported Monday.The increase from July beat the loss of 0.2 per cent that economists had expected, according to Thomson...
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Canada wins a round in ongoing trade battle with U.S. over meat-labelling laws

Oct 20, 2014 / 11:48 am

Canada has won a battle in an ongoing trade dispute with the United States over meat-labelling laws that have hurt the beef and pork industries.The World Trade Organization released a ruling Monday that said U.S. country-of-origin labelling (COOL) rules discriminate against exports from Canada and...

US agency warns car owners to get air bags fixed due to potentially deadly inflator problem

Oct 20, 2014 / 11:14 am

DETROIT - A potential safety crisis over defective air bags widened Monday as the U.S. government issued an urgent plea to more than 4.7 million people to get their cars fixed.The inflator mechanisms in the air bags can rupture, causing metal fragments to fly out when the bags are deployed in...

Charges laid after bird kill in flare at New Brunswick's Canaport LNG facility

Oct 20, 2014 / 9:12 am

SAINT JOHN, N.B. - Charges have been laid against the Canaport liquefied natural gas facility in New Brunswick after thousands of birds died last year when they flew into a flare burning at the plant.Company spokeswoman Kate Shannon said the facility in Saint John faces two charges under the...

Netflix pairs with Rogers' City stations to produce new TV series 'Between'

Oct 20, 2014 / 8:40 am

TORONTO - Netflix is making an unusual pairing with a Canadian broadcaster, and its rival video-on-demand service, to deliver the original survivalist thriller series "Between." The U.S. streaming video provider says it will partner with City stations, owned by Rogers Communications...

Canadian Pacific ends talks with fellow railroad operator CSX about a possible deal

Oct 20, 2014 / 5:40 am

Canadian Pacific Railway says it has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions. The railway operator did not say why it ended talks, but it did note in a brief statement that regulatory concerns appear to be a major deterrent for railroads...

Small biz lagging in Canada, but has potential over next 5 years: CIBC study

Oct 20, 2014 / 4:34 am

TORONTO - Small business activity in Canada is lagging the economy as a whole, but it has the potential to pick up and grow in the next five years, according to a new report from CIBC World Markets. It says that currency fluctuations have less impact on small and medium-sized businesses and...

In blow to Japan's Abe, trade and justice ministers both resign over election fund allegations

Oct 20, 2014 / 3:06 am

TOKYO - Japan's trade and justice ministers resigned Monday after allegations they misused campaign funds in the biggest setback so far for Prime Minister Shinzo Abe's conservative administration.The two ministers were among five women Abe named to his Cabinet in a reshuffle early last month. Their...

As oilpatch reporting season begins, crude price drop top of mind

Oct 20, 2014 / 3:02 am

CALGARY - The recent rout in oil prices will likely be top of mind for investors as Canada's top oilpatch players release their third-quarter results over the next few weeks.The steep drop in the key U.S. benchmark crude — to about US$80 a barrel from around US$95 just a month ago —...

Stock markets in for further swings, investors try to gauge depth of downturn

Oct 19, 2014 / 5:06 pm

TORONTO - Stock markets are likely in for more volatility this week as traders wonder if sharp gains at the end of last week signal an end to what would be a relatively mild retracement — defined as a temporary reversal in the direction of a stock's price that goes against the prevailing...

Brad Pitt's WWII drama 'Fury' blows away 'Gone Girl' to top weekend box office

Oct 19, 2014 / 12:38 pm

LOS ANGELES, Calif. - The bloody World War II drama "Fury" blew past "Gone Girl" at theatres this weekend."Gone Girl" was tops at the box office for two weeks before Brad Pitt and his rag-tag group of tank mates in "Fury" blasted the film to second place. Sony's "Fury" captured $23.5 million in...

Hack the border: Business asks government to enlist whiz kids to end delays

Oct 19, 2014 / 11:10 am

WASHINGTON - Frustrated by costly delays at the Canada-U.S. border, the business community is urging governments to seek solutions from private-sector whiz kids.The national governments are being pressed to adopt a model popularized by high-tech startups during the original dot.com boom in the...

Indonesia's incoming president gets boost after meeting rival, but tough challenges await

Oct 17, 2014 / 11:06 pm

JAKARTA, Indonesia - Rebooting a slowing economy in a nation of 250 million where inequality is rising, a looming decision on raising fuel prices and vulnerability to any U.S. interest rate hikes would be enough to tax any incoming president.But Indonesia's Joko "Jokowi" Widodo, who takes office...

Harper says he's optimistic about commodities, despite the ups and downs

Oct 17, 2014 / 3:10 pm

OTTAWA - As Prime Minister Stephen Harper offered soothing words to those battered by the recent tumult in the Canadian commodity sector, there were already signs Friday that consumers are finding relief in the falling price of oil.Speaking in Sault Ste. Marie, Ont., Harper acknowledged the turmoil...
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Today's Market
S&P TSX14337.77+110.09
S&P CDNX811.351.22
DJIA16399.6719.26
Nasdaq4316.075+57.637
S&P 5001904.01+17.25
CDN Dollar0.8861-0.0004
Gold1247.30+8.30
Oil81.49-0.13
Lumber330.70-3.90
Natural Gas3.674-0.092

 
Okanagan Companies
Pacific Safety0.10-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.12+0.01
Cantex0.055-0.025
Anavex Life Sciences0.191+0.001
Metalex Ventures0.050.00
Russel Metals32.28-0.07
Copper Mountain Mining1.99+0.05
Colorado Resources0.15+0.005
ReliaBrand Inc0.0111-0.0019
Sunrise Resources Ltd0.060.00
Mission Ready Services0.450.00

 



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Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

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