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Canadian dollar higher ahead of Fed meeting, economic growth data

Oct 24, 2014 / 8:54 am

TORONTO - The Canadian dollar was higher Friday with markets cautious ahead of key economic happenings next week.The loonie gained 0.12 of a cent to 89.14 cents US.The interest rate meeting of the Federal Reserve is the major event as markets will be curious to see if the Fed may decide to postpone...

Postmedia reports fourth-quarter losses deepens to $49.8 million, revenue drops

Oct 24, 2014 / 8:42 am

TORONTO - Postmedia Network Canada Corp. (TSX:PNC.B) (TSX:PNC.A) says its losses deepened in the fourth quarter as revenues dropped 13 per cent, weighed down by weaker print and digital advertising sales.The Toronto-based media company, owner of several newspapers and websites including the...

Stocks up at end of positive week, indexes continue to recover from selloff

Oct 24, 2014 / 8:30 am

TORONTO - The Toronto stock market registered a small gain Friday at the end of what is shaping up to be a positive week as share prices continue to recover from a sharp selloff this month.The S&P/TSX composite index gained 9.48 points to 14,496.31 and the Canadian dollar was up 0.06 of a cent to...

Sales of new US homes tick up 0.2 pct. in September; revisions wipe away much of August surge

Oct 24, 2014 / 7:42 am

WASHINGTON - U.S. sales of new homes were nearly flat in September, after the government sharply revised downward what was initially an August surge in buying.New-home sales edged up 0.2 per cent last month to a seasonally adjusted annual rate of 467,000, the Commerce Department reported Friday....

Procter & Gamble to split off its Duracell business as part of overhaul

Oct 24, 2014 / 7:20 am

NEW YORK, N.Y. - Procter & Gamble plans to remove its batteries and make Duracell a stand-alone company.The world's largest consumer products maker, which acquired Duracell in 2005, has been trimming its product lineup to focus on its top performers. After it finishes jettisoning more than half...

Chiquita shareholders reject plans to merge with Irish fruit importer Fyffes

Oct 24, 2014 / 7:04 am

CHARLOTTE, N.C. - Chiquita shareholders have rejected plans to merge with Irish fruit importer Fyffes that would have made the world's largest banana supplier.Chiquita Brands International Inc. said Friday that the shareholders didn't approve a revised transaction agreement between the two...

Premiers of Quebec and Ontario warn others not to write off Central Canada

Oct 24, 2014 / 6:52 am

NIAGARA-ON-THE-LAKE, Ont. - The premiers of Quebec and Ontario are vowing to work together to restore Central Canada's traditional influence with the rest of the country, especially on economic growth.Premier Philippe Couillard says he remembers when Robert Bourassa and David Peterson had a close...

Conservatives introduce thick budget bill that includes unrelated items

Oct 24, 2014 / 5:52 am

OTTAWA - The Conservative government has introduced another mammoth omnibus budget bill that includes a grab-bag of measures, ranging from tax breaks for beekeepers to provisions banning cable companies from charging for paper bills.Much of the 458-page bill involves the complicated implementation...

A royal tweet: Queen Elizabeth II removes glove, types on touchscreen to send first tweet

Oct 24, 2014 / 5:46 am

LONDON - Queen Elizabeth II has sent her first tweet — and she's signed it "Elizabeth R."The 88-year-old monarch tried her hand at Twitter as she opened a new gallery in central London's Science Museum Friday.The queen removed a glove to type on a touchscreen tablet, writing "I hope people...

Google's Kitchener, Ont. team helps rethink Gmail with mobile-inspired redesign

Oct 24, 2014 / 5:18 am

TORONTO - Google's Gmail has been given a new mobile-friendly look, and if users really like it, it could permanently replace the familiar, old-fashioned interface.Ten years after the birth of Gmail, Google is looking to reinvent the popular email service with an alternate experience called...

Enbridge stands ground, tells National Energy Board that Line 9 design is safe

Oct 24, 2014 / 5:12 am

CALGARY - Enbridge Inc. (TSX:ENB) insists in a regulatory filing that its design for the Line 9 pipeline through southern Ontario has the right shut-off valve configuration to minimize the risk to waterways and reservoirs in the event of a rupture.The Calgary-based company was responding to the...

Shakira partners with Fisher-Price to release baby toys, launches Web series for young moms

Oct 24, 2014 / 4:16 am

NEW YORK, N.Y. - Shakira is partnering with Fisher-Price to launch a line of baby toys as well as a Web series for moms.The Mattel, Inc.-owned company announced Friday that the First Steps collection of toys and baby gear would be available in November. Shakira co-developed six products, including...

AMC Networks pays $200 million for 49.9 per cent stake in BBC America

Oct 23, 2014 / 4:00 pm

NEW YORK, N.Y. - AMC Networks Inc. said Thursday it will pay $200 million to acquire a stake in BBC America.The entertainment company known for shows such as "The Walking Dead" and "Mad Men" will have a 49.9 per cent equity stake in the cable channel that is home of shows such as "Doctor Who" and...

Corus says its still tough to predict major advertisers in tough economy

Oct 23, 2014 / 3:40 pm

TORONTO - Advertisers are showing a new level of caution before spending millions of dollars on TV commercials and that's putting pressure on Corus Entertainment, the company's chief executive said Thursday in lowering guidance for the next financial year.A "rather new phenomena" has developed in...

Top NY court backs music publisher's claim for Duke Ellington royalties from foreign sales

Oct 23, 2014 / 2:46 pm

ALBANY, N.Y. - The state's highest court on Thursday sided with EMI in the music publisher's dispute with Duke Ellington's heirs, but acknowledged global industry consolidation has made contracts like his much more favourable to publishers.The late pianist, bandleader and composer wrote "It Don't...

Rogers profits fall as it faces hockey costs, slow Q3 subscriber growth

Oct 23, 2014 / 2:44 pm

TORONTO - Rogers Communications Inc. profits dropped 28 per cent in the third quarter as the telecommunications company faced trouble attracting and holding subscribers and increased ramp-up costs in its media division related to the new hockey season.However, chief executive Guy Laurence said...

Tempting low mortgage rates could bring re-fi wave, home buying; but maybe only so far

Oct 23, 2014 / 2:38 pm

WASHINGTON - With mortgage rates sliding for a fifth straight week, the possibility of locking in a rate below 4 per cent is tempting for consumers and could unleash a wave of refinancing. It may even convince some Americans to buy their first home.Yet there are limits to how far the wave can...

Shaw profit beats Q4 estimates, revenue slightly short of analyst expectations

Oct 23, 2014 / 2:32 pm

CALGARY - Shaw Communications Inc. (TSX:SJR.B) is focusing on growing its wireless Internet offerings while continuing to deal with declining cable and satellite TV subscriptions.CEO Brad Shaw said the company will continue to remain flexible in providing customers what they want, when they want it...

Manitoba dam blockade: Chief demands revenue-sharing, help lowering hydro bills

Oct 23, 2014 / 2:08 pm

WINNIPEG - Manitoba Premier Greg Selinger says he's willing to consider the demands of protesters from a northern First Nation occupying the grounds of a key power-generating station.Protesters from Cross Lake First Nation want a revenue-sharing agreement with Manitoba Hydro, as well as a public...

Most actively traded companies on the TSX

Oct 23, 2014 / 1:58 pm

TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (14,486.83, up 174.76 points):Bombardier Inc. (TSX:BBD.B). Aerospace. Up 15 cents, or 4.13 per cent, to $3.78 on 7.6 million shares.MBAC Fertilizer Corp. (TSX:MBC). Agriculture. Down...

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What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

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