Thursday, April 24th9.8°C

Nova Scotia premier to ask feds to remove provincial portion of HST from gas tax

Apr 24, 2014 / 5:14 pm

HALIFAX - Premier Stephen McNeil said Thursday he intends to approach Ottawa about removing Nova Scotia's portion of the harmonized sales tax that is charged on top of the tax drivers pay for gas in his province.With the province's regulated gas prices soaring, McNeil said he would like to give...

TransForce Q1 profits plummet to $5.9 million due to severe winter weather

Apr 24, 2014 / 5:14 pm

MONTREAL - Transportation firm TransForce says its first-quarter profits plummeted to $5.9 million from $18.9 million a year ago due to severe winter weather, higher costs and persistent economic softness.The Montreal-based trucking, logistics and waste management firm earned six cents per diluted...

Liberals should involve private sector in delivering services: Duncan

Apr 24, 2014 / 5:14 pm

TORONTO - Ontario's governing Liberals — or whichever party succeeds them — should work with the private sector to deliver public services at less cost, former Liberal finance minister Dwight Duncan said Thursday.The cash-strapped Liberals are running an $11.3-billion deficit and have...

Crude oil rises to near US$102 a barrel on Ukraine uncertainty

Apr 24, 2014 / 5:14 pm

The price of oil rose to near US$102 a barrel Thursday on worries about tensions in Ukraine.Benchmark West Texas Intermediate crude for June delivery rose 50 cents to close at US$101.94 a barrel on the New York Mercantile Exchange. Brent crude, an international benchmark, gained $1.22 to US$110.33...

Most actively traded companies on the TSX, TSX Venture Exchange

Apr 24, 2014 / 5:14 pm

TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (14,554.25 up 20.86 points):Bombardier Inc. (TSX:BBD.B). Aerospace. Up two cents, or 0.50 per cent, to $4.03 on 14.2 million shares.Yamana Gold Inc....

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

Apr 24, 2014 / 5:14 pm

DALLAS - First-quarter net income 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...

Cargill faces Alberta environmental charges over wastewater tests at beef plant

Apr 24, 2014 / 5:14 pm

EDMONTON - The company that owns and operates the largest beef processing plant in Canada is facing environmental charges in Alberta.The province is accusing Cargill Limited of failing to immediately report a case where samples from the company's High River plant's industrial waste water system...

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

Apr 24, 2014 / 5:14 pm

EDMONTON - The Alberta government has officially approved its $43-billion budget for 2014-15.The document completed third reading Wednesday night 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...

Payments volume growth, tax benefit contribute to 26 per cent rise in Visa's fiscal 2Q profit

Apr 24, 2014 / 5:14 pm

Visa Inc.'s profit jumped 26 per cent in its fiscal second quarter from a year earlier as the company benefited from strong growth in payments volume, service revenue and a one-time tax gain.The latest earnings exceeded Wall Street estimates, but revenue fell slightly short. Management said...

Sherritt says Glass Lewis recommends backing company board nominees

Apr 24, 2014 / 5:14 pm

TORONTO - Proxy advisory firm Glass, Lewis & Co. has recommended clients support the Sherritt International Corp.'s director nominees and resolutions in the mining company's fight with a dissident shareholder group.The recommendation is the second endorsement for the management nominees by a...

Earnings news, miners support TSX, traders cautious amid worsening Ukraine crisis

Apr 24, 2014 / 4:26 pm

TORONTO - The Toronto stock market closed higher Thursday amid positive earnings news and despite rising tensions between Russia and Ukraine.Toronto's S&P/TSX composite index closed up 20.86 points at 14,554.25.The Canadian dollar rose 0.03 of a cent to 90.68 cents US.New York's Dow industrials was...

Google, Apple, Intel, Adobe settle class-action alleging they formed cartel to retain workers

Apr 24, 2014 / 4:16 pm

SAN FRANCISCO - Google, Apple, Intel and Adobe Systems have settled a class-action lawsuit alleging they conspired to prevent their engineers and other highly sought technology workers from getting better job offers from one another.The agreement announced Thursday averts a Silicon Valley trial...

Loonie up amid positive export outlook, prospect of continuing low rates

Apr 24, 2014 / 3:42 pm

TORONTO - The Canadian dollar closed little changed Thursday amid comments from the governor of the Bank of Canada that Canadians should expect cheap borrowing costs to last for years even after the central bank gets around to hiking interest rates.The loonie moved up 0.03 of a cent to 90.68 cents...

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

Apr 24, 2014 / 3:42 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, and an assortment of news cameras followed them around. One or two project supporters...

Sears Canada CEO wants middle-class shoppers, won't chase upscale market

Apr 24, 2014 / 3:40 pm

TORONTO - Sears Canada isn't interested in stocking high-priced runway styles and lavish decor because it's not what middle-class shoppers want to buy, chief executive Douglas Campbell says.While other stores such as Hudson's Bay have added posh new brands in pursuit of well-heeled shoppers,...

CIBC eyeing growing U.S. presence, says CEO who will retire in two years

Apr 24, 2014 / 3:32 pm

MONTREAL - CIBC says it is eyeing big-ticket acquisitions in the United States as the Toronto-based bank seeks to boost earnings from wealth management to about 15 per cent of overall adjusted profits.The bank's retail brokerage, asset management and private wealth management businesses generated...

Pipeline in a 1,000 words

Apr 24, 2014 / 3:29 pm

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, and an assortment of news cameras followed them around. One or two project supporters heckled...

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...

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...

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