Golden EzRock - Business News

World economy "teetering on brink" of downturn, UN says

Fri, 16 May 2008 03:54:09 +0000

UNITED NATIONS - The world economy is "teetering on the brink" of a severe downturn and is expected to grow only 1.8 per cent in 2008, the United Nations said in its mid-year economic projections Thur...

Japan's economy grows at 3.3 per cent annual pace in first quarter

Fri, 16 May 2008 01:54:40 +0000

TOKYO - Japan's economy grew at a stronger-than-expected 3.3 per cent annual pace in the first quarter, racking up its third consecutive quarter of growth. Japan's gross domestic product - or the v...

Oil falls as options expire; Retail gas prices rise past US$3.77 a gallon

Fri, 16 May 2008 01:06:40 +0000

NEW YORK - Oil futures ended a whipsaw session slightly lower Thursday as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than US$3 ...

Rabaska signs letter of intent with Gazprom for LNG supply

Fri, 16 May 2008 01:06:59 +0000

LEVIS, Que. - Russian energy giant Gazprom plans to enhance its North American presence by partnering with Canadian pipeline companies Enbridge Inc. (TSX:ENB) and Gaz Metro (TSX:GZM.UN) to supply the ...

Coalcorp ends strategic, seeks to up production amid high coal prices

Fri, 16 May 2008 01:06:56 +0000

TORONTO - Coalcorp Mining Inc. (TSX:CCJ) is no longer trying to sell itself, choosing instead to focus on developing its La Francia project and increasing production to take advantage of high coal pri...

Property services provider FirstService shares fall 12 per cent

Thu, 15 May 2008 22:40:56 +0000

TORONTO - Shares of FirstService Corp. (TSX:FSV) fell more than 10 per cent Thursday after the company reported a quarterly loss of US$12 million. FirstService shares fell C$2.77 or roughly 12 per ...

Dorel to pay US$3.4 million to Mattel for violating trade patents

Thu, 15 May 2008 22:40:25 +0000

MONTREAL - Dorel Inc. (TSX:DII.B) has been ordered by U.S. court to pay US$3.4 million to toy manufacturer Mattel for violating trade patents. The ruling issued May 5 by the Delaware District Court...

Cameco eyeing acquisitions following a drop in the uranium spot price

Thu, 15 May 2008 21:36:40 +0000

SASKATOON - Cameco Corp. (TSX:CCO) says it's ready to seek out potential acquisitions now that falling uranium spot prices have made the possibility of a purchase "more reasonable." The world's big...

Desjardins almost doubles ABCP writedowns with $220M Q1 writedown

Thu, 15 May 2008 21:36:43 +0000

MONTREAL - Asset-backed commercial paper weighed down the quarterly results of another Canadian financial institution as Desjardins Group took a $220 million first-quarter writedown, nearly doubling i...

Surprise manufacturing retreat raises concerns growth could slip below zero

Thu, 15 May 2008 21:36:42 +0000

OTTAWA - Surprisingly weak manufacturing output in March has left the Canadian economy teetering on the brink of the first quarterly economic contraction since 2003, economists said Thursday. For y...

Financials, metals send TSX to fresh record close;NY also higher despite weak data

Thu, 15 May 2008 21:06:42 +0000

TORONTO - The Toronto stock market surged to a record-high close Thursday in a broadbased advance led by solid gains in financial and metals stocks even as investors took in data which showed that a w...

Nevsun Resources says Bisha mining project will cost US$246 million

Thu, 15 May 2008 21:06:58 +0000

VANCOUVER - Nevsun Resources Ltd., (TSX:NSU) says the Bisha copper, zinc, gold and silver project in Eritrea will have a pre-production capital cost of US$246 million, up $50 million from a 2006 estim...

Menu Foods says it's back on track; Q1 loss reduced to $2.2 million

Thu, 15 May 2008 20:33:44 +0000

TORONTO - Menu Foods Income Fund (TSX:MEW.UN) says its pet food business is on the way to recovering from the impact of a series of major recalls, although on a smaller scale. The pet food maker sa...

Investors favour safer funds in April as net fund sales down from year ago

Thu, 15 May 2008 20:34:00 +0000

TORONTO - Canadian investors slashed the amounted they put into mutual funds in April compared with a year ago as net contributions totalled $560.8 million, down from $2.51 billion a year ago, with th...

Judge denies attempt to halt Keystone oil pipeline

Thu, 15 May 2008 19:48:16 +0000

BISMARCK, N.D. - A judge has refused to stop construction of a crude-oil pipeline that would be built by TransCanada Corp. (TSX:TRP) through eastern North Dakota, saying state regulators took adequate...