Wednesday, April 16th8.6°C

China's growth slows to 7.4 per cent in Q1, raising risk of job losses

Apr 16, 2014 / 11:56 am

BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses.The world's second-largest economy grew 7.4 per cent from a year...

Foreign investment up in February by $6.1 billion, Statistics Canada says

Apr 16, 2014 / 11:56 am

OTTAWA - Statistics Canada says foreign investment in Canadian securities grew by $6.1 billion in February and this was matched by Canadian purchases of $6 billion in foreign securities.It says non-residents bought $2.2 billion in Canadian bonds, following two straight months of...

CPP Investment board to sell Texas-based air system company for US$1.6 billion

Apr 16, 2014 / 11:56 am

TORONTO - The body that manages investments for the Canada Pension Plan has agreed to sell Air Distribution Technologies, Inc. to Johnson Controls in a deal valued at approximately US$1.6 billion.Canada Pension Plan Investment Board says it expects to receive about US$1 billion in proceeds from the...

Clean-energy group praises new Alberta Energy Regulator emission rules

Apr 16, 2014 / 11:56 am

CALGARY - A clean-energy group is praising a decision by the Alberta Energy Regulator to crack down on emissions from oilsands development in the Peace River area.The Pembina Institute calls it a positive step that recognizes health concerns about odours from processing plants.The regulator is...

More than 42% of anglophone Canadians now own a tablet: study

Apr 16, 2014 / 11:56 am

TORONTO - More than 42 per cent of anglophone Canadians now own a tablet and most are increasingly choosing one of Apple's iPads, suggests a report by the Media Technology Monitor.Tablet ownership spiked by about 66 per cent between 2012 and 2013, according to the results of a MTM survey conducted...

US manufacturing production up 0.5 pct. in March, led by furniture, clothing and aircraft

Apr 16, 2014 / 11:56 am

WASHINGTON - U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products.The Federal Reserve said Wednesday that factory...

Loonie lower as Bank of Canada leaves rates unchanged, lowers growth forecast

Apr 16, 2014 / 11:56 am

TORONTO - The Canadian dollar was lower midday Wednesday after the Bank of Canada said it was keeping its key rate unchanged and cut its forecast for economic growth during the first quarter.The loonie was off 0.37 of a cent to 90.73 cents US as the bank left its key rate at one per cent, where...

US home construction rises in March after bitter winter, led by gain in single-family homes

Apr 16, 2014 / 11:56 am

WASHINGTON - U.S home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction.Builders started work on 946,000 homes at a seasonally adjusted annual rate in March, up 2.8...

TSX rises, commodities up as Chinese economy performs better than expected

Apr 16, 2014 / 11:56 am

TORONTO - The Toronto stock market registered a strong advance Wednesday amid signs that economic growth in China held up better than expected in the first quarter.The S&P/TSX composite index jumped 116.35 points to 14,420.27 after the world’s second-largest economy grew 7.4 per cent from a...

Bank of America swings to loss from profit, hurt by legal charges

Apr 16, 2014 / 11:56 am

CHARLOTTE, N.C. - Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal charges.A LOSS: The Charlotte, N.C., bank reported a loss applicable to common shareholders of $514 million, compared with a profit of $1.11 billion a year earlier. The loss...

SWN Resources proposing test wells in New Brunswick, but no fracking for now

Apr 16, 2014 / 11:56 am

FREDERICTON - The company at the centre of a fracking controversy in New Brunswick said Wednesday it hopes to drill four test wells next year that will help determine the location of shale gas deposits in Queens and Kent counties.If the project is approved, SWN Resources Canada said the vertical...

Wireless industry, carriers volunteer to offer anti-theft software on smartphones by 2015

Apr 16, 2014 / 11:24 am

SAN FRANCISCO - A trade group for wireless providers said Tuesday that the biggest mobile device manufacturers and carriers will soon put anti-theft tools on the gadgets to try to deter rampant smartphone theft.CTIA-The Wireless Association announced that under a "Smartphone Anti-Theft Voluntary...

Fed survey: Economic growth picks up across most of the United States as harsh winter recedes

Apr 16, 2014 / 11:24 am

WASHINGTON - A Federal Reserve survey shows economic growth picking up across most of the United States over the past two months as bitter winter weather subsided.Ten of the Fed's 12 regions reported an increase in economic activity, according to the Beige Book survey released Wednesday. In most...

Fed survey: Economic growth picks up across most of the United States as harsh winter recedes

Apr 16, 2014 / 11:08 am

WASHINGTON - A Federal Reserve survey shows economic growth picking up across most of the United States over the past two months as bitter winter weather subsided.Ten of the Fed's 12 regions reported an increase in economic activity, according to the Beige Book survey released Wednesday. In most...

Alberta Energy Regulator toughens rules to cut possible effect of gas emissions

Apr 16, 2014 / 10:46 am

CALGARY - Alberta's energy regulator is toughening rules to reduce the potential negative effects of energy industry gas emissions.The new rules will apply to industry practices such as flaring, venting and burning off gas and are to go into effect June 16.Jim Ellis, president of the Alberta Energy...

Yellen says key task of central bank is to respond to economy's fluctuations

Apr 16, 2014 / 10:42 am

NEW YORK, N.Y. - Federal Reserve Chair Janet Yellen said Wednesday that the U.S. job market still needs help from the Fed and that the central bank must remain intent on adjusting its policy to respond to unforeseen challenges.In her first major speech on Fed policy, Yellen sought to explain the...

CBS wins another Nielsen week with help from basketball and its roster of hit TV series

Apr 16, 2014 / 10:14 am

NEW YORK, N.Y. - Hoops and series hits have handed CBS another winning week, the Nielsen ratings company said.Not only did CBS win in total prime-time viewers for a sixth straight week, but it also won for a fourth consecutive week in the adults 18-49 and adults 25-54 demographics.CBS had 15 of the...

Jimmy Carter becomes first U.S. ex-president to urge Keystone XL rejection

Apr 16, 2014 / 8:32 am

WASHINGTON - For the first time ever, a former U.S. president has come out against the Keystone XL pipeline.The ex-president in question is Jimmy Carter.The 39th president joined a group of Nobel laureates to sign a letter urging the current commander-in-chief to reject the pipeline from Canada.The...

Muskrat Falls project costs going up, power may be delayed: Nalcor Energy CEO

Apr 16, 2014 / 8:22 am

ST. JOHN'S, N.L. - Costs for the $7.7-billion Muskrat Falls hydro project are going up and the date for first power from the dam may be delayed, says the head of Newfoundland and Labrador's Crown energy corporation.Nalcor Energy president and CEO Ed Martin on Tuesday blamed rising costs for labour...

Most actively traded companies on the TSX, TSX Venture Exchange

Apr 16, 2014 / 7:14 am

TORONTO - Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange:Toronto Stock Exchange (14,303.92 up 19.49 points):Bombardier Inc. (TSX:BBD.B). Aerospace. Down two cents, or 0.49 per cent, to $4.10 on 10.1 million shares.Osisko Mining Corp....

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