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Former Calgary Stampeders offensive lineman John Forzani dies at 67

Oct 31, 2014 / 9:48 am

CALGARY - John Forzani, a former offensive lineman with the Stampeders who became a prominent businessman in Calgary after his CFL career ended, died Friday. He was 67.The Stampeders confirmed Forzani's passing in a statement Friday morning. The Calgary native had been on life support in a...

Claude Resources ordered to pay $172K for fuel spill in northern Saskatchewan

Oct 31, 2014 / 9:48 am

LA RONGE, Sask. - Claude Resources has been ordered to pay a penalty of $172,000 for a fuel spill almost two years ago at its Seabee gold mine in northern Saskatchewan.The mining company recently pleaded guilty to one charge under the federal Fisheries Act and one charge under Saskatchewan's...

Japan's new stimulus plan sends global stock markets higher; US indexes near record highs

Oct 31, 2014 / 9:48 am

NEW YORK, N.Y. - Stocks rose across the globe Friday, capping off a seesaw month for investors, after the Bank of Japan unexpectedly announced new stimulus to boost the country's struggling economy. Japan's stock market jumped 4.8 per cent to the highest level since 2007.The Dow Jones industrial...

Canadian dollar lower amid subpar economic performance during August

Oct 31, 2014 / 8:58 am

TORONTO - The Canadian dollar plunged almost three-quarters of a U.S. cent late morning Friday as economic growth for August missed already modest expectations. The loonie was also under pressure amid a move by the Bank of Japan to stimulate the world's third largest economy.The loonie was down 0.7...

Imperial profits rise during third quarter on strong refinery performance

Oct 31, 2014 / 8:52 am

CALGARY - Imperial Oil Ltd. (TSX:IMO) posted a 45 per cent increase in third-quarter profits thanks to strong performance in its refining and chemical business.The major oil producer and refiner, majority owned by ExxonMobil Corp., said net income for the third quarter was $936 million, or $1.10...

Feds closer to black ink as deficit slips to $300 million in August

Oct 31, 2014 / 8:36 am

OTTAWA - The federal government inched closer to a budget surplus in August as the deficit slipped to about $300 million for the month, down from $2 billion in August 2013. In its monthly Fiscal Monitor, the department said the deficit for the April to August period shrank to $1.1 billion,...

Stock markets advance, Bank of Japan expands asset purchases to boost economy

Oct 31, 2014 / 8:30 am

TORONTO - The Toronto stock market ran ahead sharply Friday on relief that another major central bank is stepping up to help keep the global economic recovery on track.The S&P/TSX composite index jumped 149.88 points to 14,608.57 after the Bank of Japan unexpectedly expanded a key stimulus...

Greater optimism about economic growth, incomes spurs consumer confidence to 7-year high

Oct 31, 2014 / 7:42 am

WASHINGTON - U.S. consumers expect better economic growth and rising incomes in the coming months, pushing a measure of confidence to a seven-year high in October.The University of Michigan says that its index of consumer sentiment rose to 86.9 from 84.6 in September. That's the highest since July...

Fairfax's Prem Watsa says stock markets remain out of sync with global economy

Oct 31, 2014 / 7:36 am

TORONTO - Prem Watsa hasn't budged on his concerns that lofty stock market levels remain out of sync with the uncertain global economy.The billionaire head of insurer Fairfax Financial Holdings Ltd. (TSX:FFH) said Friday that he believes financial markets in North America and Western Europe are...

Unifor extends strike deadline for St. Lawrence Seaway through weekend

Oct 31, 2014 / 7:20 am

CORNWALL, Ont. - The union representing workers on the St. Lawrence Seaway says a strike deadline set for just past noon Friday has been extended through the weekend.Unifor says the new strike deadline is 5 p.m. Monday.Notice of the new deadline was served to the Seaway on Friday morning during...

US consumer spending retreats in September, first setback in 8 months

Oct 31, 2014 / 7:16 am

WASHINGTON - U.S. consumer cut spending in September for the first time in eight months, as incomes grew at the slowest pace this year. The figures underscore nagging economic soft spots that are expected to ease in the coming months.Consumer spending slipped 0.2 per cent in September, the Commerce...

Banks, credit card companies cutting rates charged to merchants, capping fees

Oct 31, 2014 / 6:04 am

OTTAWA - Canada's major banks and credit card companies have reached a deal with the federal government to cut the fees charged to merchants for credit transactions, sources familiar with the negotiations say. The voluntary agreement could mean cost savings for up to 700,000 large,...

Government hoping for modest increase in immigration levels next year

Oct 31, 2014 / 6:00 am

OTTAWA - Canada is hoping to welcome more immigrants next year. The government will release its immigration plan for 2015 today, and it's expected to show an increase in overall numbers. The main focus will be on accepting more economic immigrants, which will make up 65 per cent of the...

Exxon earnings up 6 per cent, easily beating expectations, as refining offsets low oil prices

Oct 31, 2014 / 5:34 am

IRVING, Texas - ExxonMobil Corp. profits rose 3 per cent in the third quarter as strong refining performance offset lower revenues from falling oil prices and production.The company said Friday it earned $8.07 billion on revenue of $107.49 billion in the third quarter. Last year during the same...

TransForce extends Contrans deadline, awaits ruling from Competition Bureau

Oct 31, 2014 / 4:14 am

MONTREAL - TransForce Inc. (TSX:TFI) says it has received sufficient shareholder support for a $495-million cash takeover offer for the Ontario-based Contrans trucking group but continues to await a response from Canadian competition authorities.The Montreal-based company says it has been in...

Japan central bank unexpectedly expands asset purchases to shore up shaky recovery

Oct 31, 2014 / 4:00 am

TOKYO - Japan's central bank expanded its asset purchases in a surprise move Friday to shore up sagging growth in the world's No. 3 economy.The Bank of Japan said it would increase its purchases of government bonds and other assets by between 10 trillion yen and 20 trillion yen ($91 billion to $181...

Japan's huge public pension fund OK's plan to boost share purchases, pare bond holdings

Oct 31, 2014 / 2:30 am

TOKYO - Japan's $1.1 trillion public pension fund has approved a plan to double its holdings of shares and cut back sharply on bonds in its portfolio to help improve its investment returns.The Government Pension Investment Fund endorsed the change in investment strategy on Friday. Prime Minister...

Police search Boeing aircraft plant in Washington after reports of armed man; nothing found

Oct 30, 2014 / 10:08 pm

EVERETT, Wash. - Police in Everett, Washington, say they have searched a portion of a Boeing aircraft plant after two employees reported seeing what appeared to be an armed man, but officers found nothing to substantiate the reports.More than two hours after the 7 p.m. reports of a man possibly...

Reports: Stampeders great and businessman John Forzani on life support

Oct 30, 2014 / 7:44 pm

CALGARY - Stampeders great and prominent Calgary businessman John Forzani was put on life support in a California hospital on Thursday according to several media reports.Family members have told a number of Calgary-based media outlets that the 67 year old had a heart attack in his sleep and was...

Apple CEO publicly acknowledges that he's gay, but will disclosure ease workplace stigma?

Oct 30, 2014 / 5:02 pm

NEW YORK, N.Y. - Apple CEO Tim Cook's declaration that he's "proud to be gay" wasn't exactly news in Silicon Valley, where his sexual orientation was no secret. But advocates say that given Apple's immense reach and visibility, his coming-out could help change attitudes in workplaces across...

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Empty nesting: financial issues

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