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Toronto stock market declines amid weak commodity prices, strong earnings data

Jan 28, 2015 / 7:52 am

TORONTO - The Toronto stock market was lower Wednesday, pressured by resource stocks as oil and metal prices fell. However, investors were encouraged by strong earnings results.The S&P/TSX composite index gave back 35.69 points to 14,798.19.The Canadian dollar was down 0.25 of a cent to 80.37 cents...

Revenue from increasing deliveries of commercial aircraft boost Boeing's 4Q profit 19 per cent

Jan 28, 2015 / 6:14 am

CHICAGO - Demand for commercial jets airliners boosted Boeing Co.'s fourth-quarter profit by 19 per cent, topping Wall Street expectations by a wide margin and offsetting weakness in the defence business.Boeing offered a muted outlook for 2015, however. Falling oil prices, which make jet fuel much...

Canadian dollar declines ahead of interest rate announcement; oil prices retreat

Jan 28, 2015 / 5:32 am

TORONTO - The Canadian dollar was lower Wednesday as oil prices retreated and traders looked to the mid-afternoon interest rate announcement by the U.S. Federal Reserve.The loonie declined 0.12 of a cent to 80.5 cents US.The Fed is widely expected to reiterate that it will be "patient" in raising...

Cenovus Energy makes $700-million cut to 2015 spending budget to preserve cash

Jan 28, 2015 / 5:28 am

CALGARY - Cenovus Energy Inc. (TSX:CVE) has lowered its 2015 capital budget to between $1.8 billion and $2 billion, which is about $700 million less than the previous estimate and more than 15 per cent below last year's spending levels.It's also looking for ways to reduce annual operating costs by...

Apple's fortunes depend on iPhones now, but what will it do next?

Jan 28, 2015 / 1:22 am

SAN FRANCISCO - Apple CEO Tim Cook says consumer demand for new iPhones has been "staggering" and "hard to comprehend." That helped the company report record-smashing earnings for its latest quarter and primed its stock for a rally Wednesday.But after selling a record 74.5 million iPhones in three...

Yahoo CEO spinning off 15 per cent stake in Alibaba to avoid $16 billion in future taxes

Jan 27, 2015 / 4:42 pm

SAN FRANCISCO - Yahoo CEO Marissa Mayer is spinning off the company's $39 billion stake in China's Alibaba Group Holding in a move that wards off a potential shareholder rebellion. The highly anticipated decision announced Tuesday will enable Yahoo to avoid paying billions of dollars in...

CN Rail dividend increasing 25 per cent as Q4 profit surges to $844 million

Jan 27, 2015 / 4:18 pm

MONTREAL - Canadian National Railway is raising its quarterly dividend by 25 per cent as the country's largest railway says it expects to profit from the growing U.S. economy and a weaker loonie that should boost Canadian exports. Chief executive Claude Mongeau said CN expects to increase...

Another new Coke: Coca-Cola cutting sweetness in Canada, producing smaller sizes

Jan 27, 2015 / 4:04 pm

TORONTO - The Real Thing will soon be the less sweet thing — at least in Canada. Coca-Cola is getting an eight per cent calorie cut in Canada, which will bring its sweetness in line with how the beverage tastes elsewhere in the world, the company said Tuesday. Coca-Cola...

Families who earn $30K-$60K to benefit least from Tories' family measures

Jan 27, 2015 / 3:52 pm

OTTAWA - Of all the families eligible for the Conservative government's controversial family tax-and-benefit measures this year, those earning between $30,000 and $60,000 will see by far the smallest windfall, internal Finance Department numbers show.The government's own breakdown shows families...

Royal Bank cuts prime rate to 2.85 per cent; other big banks follow suit

Jan 27, 2015 / 3:48 pm

TORONTO - Canada's biggest banks have started passing on some — but not all — of the Bank of Canada's recent rate cut, lowering the interest charged to borrowers with loans and mortgages tied to the prime rate. Royal Bank (TSX:RY) was the first to...

Petroleum Services group downgrades drilling forecast by almost 25 per cent

Jan 27, 2015 / 3:24 pm

RED DEER, Alta. - The Petroleum Services Association of Canada has downgraded its drilling forecast for the year by almost 25 per cent due to slumping oil prices.The association has revised the forecast it released in October and now expects 7,650 wells to be drilled in 2015.Nearly 4,200 wells are...

Grain shipping companies face railway backlog, deteriorating service: report

Jan 27, 2015 / 3:18 pm

REGINA - A coalition of agriculture associations says the grain industry is dealing with deteriorating rail service and an 11 per cent shortfall in the supply of railway cars.The Ag Transport Coalition released a report saying that the railways have failed to supply more than 11,000 cars that were...

Tim Hortons lays off unspecified number of staff at its headquarters

Jan 27, 2015 / 3:16 pm

TORONTO - Tim Hortons is refusing to say how many employees will lose their jobs at its headquarters and regional offices in a reorganization of its operations announced Tuesday.A spokeswoman for the coffee chain said it was "still in the process" of notifying staff members who will be affected by...

Toronto businessman and philanthropist Joseph Rotman dies at age 80

Jan 27, 2015 / 2:44 pm

TORONTO - Canadian businessman and philanthropist Joseph Rotman is dead at the age of 80.Rotman died Tuesday morning in Toronto. The cause of death was not disclosed."Joe was a remarkable Canadian who leaves an impressive legacy in the fields of life sciences, arts and business, including the...

Porter says terminal sale will help it with expansion plans to more destinations

Jan 27, 2015 / 2:42 pm

TORONTO - The head of Porter Aviation Holdings Inc. says the sale of Porter's passenger terminal at Billy Bishop Toronto City Airport frees the airline to focus on expanding to more destinations in North America and the Caribbean."(The sale) really does position Porter for the future," said...

TSX shakes off early losses, up modestly on oils, golds, strong Metro earnings

Jan 27, 2015 / 2:26 pm

TORONTO - The Toronto stock market closed modestly higher Tuesday, recovering from an early triple-digit slide amid rising oil and gold prices and a solid earnings report from Canadian grocer Metro Inc. (TSX:MRU).The S&P/TSX composite index closed up 36.05 points at 14,833.88.Metro's quarterly net...

Most actively traded companies on the TSX

Jan 27, 2015 / 2:16 pm

Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (14,833.88, up 36.05 points):B2Gold Corp. (TSX:BTO). Miner. Up six cents, or 2.38 per cent, to $2.58 on 9.7 million shares. Spartan Energy Corp. (TSX:SPE). Oil and gas. Up six cents, or 2.29 per...

Hour-long global Facebook outage takes down Instagram, generates jokes & ad pitches on Twitter

Jan 27, 2015 / 1:38 pm

SEOUL, South Korea - No storm selfies, hookups, status updates. With Facebook and Instagram down for nearly an hour overnight, what were legions of users to do?Turn to Twitter, of course. To talk about Facebook. The hashtag "#facebookdown" generated a cascade of tweets, including an image of a...

Loonie rises after five losing sessions, traders look to GDP data, Fed meeting

Jan 27, 2015 / 1:34 pm

TORONTO - The Canadian dollar closed higher Tuesday as oil and gold prices registered solid gains and traders looked to see how the Canadian economy performed in November.The loonie was up 0.39 of a cent to 80.62 cents US following five straight sessions of declines that had left Canada's dollar...

Mulcair unveils more platform planks: tax relief for small biz, manufacturers

Jan 27, 2015 / 1:30 pm

OTTAWA - Tom Mulcair has nailed down three more planks in the NDP election platform, unveiling promises of tax relief for small business and manufacturers.The NDP leader announced Tuesday that a New Democrat government would cut the tax rate for small businesses to nine per cent from the current 11...

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S&P TSX14785.15-48.729
S&P CDNX674.14-2.65
S&P 5002029.14-0.41
CDN Dollar0.8033-0.0036
Natural Gas2.876-0.105

Okanagan Companies
Pacific Safety0.125+0.005
QHR Technologies Inc1.44+0.01
Anavex Life Sciences0.1701-0.0099
Metalex Ventures0.035-0.005
Russel Metals24.23-0.10
Copper Mountain Mining1.00-0.05
Colorado Resources0.145-0.01
ReliaBrand Inc0.0069+0.0009
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.21-0.03



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