U.s. President Barack Obama, flanked by Budget Director Peter Orszag, right, and Treasury Secretary Tim Geithner, talks about his proposed 2010 federal budget on Thursday in Washington.(Charles Dharapak/Associated Press)
Nortel Networks, currently restructuring in court-ordered creditor protection, said Wednesday it is cutting an additional 3,200 jobs around the world.
The telecommunications company said the cuts are on top of 1,800 remaining staff reductions that were announced earlier and are yet to be completed.
Nortel said the cuts will be made over the next several months.
"There is nothing more difficult than notifying employees, and Nortel is extremely conscious of the personal financial burden this will cause affected employees and their families," said Mike Zafirovski, Nortel's president and CEO.
A senior economist says Ontario could be facing a $15 billion deficit next year.
On March 26, provincial Finance Minister Dwight Duncan will release his 2009 budget, which is expected to predict a budget deficit of about $10 billion.
But TD chief economist Don Drummond says the following year could set a record in the province. Drummond says in 2010 the deficit could grow to $15 billion.
The record for red ink was set by the NDP government of Bob Rae in 1992-93.
A senior economist says Ontario could be facing a $15 billion deficit next year.
On March 26, provincial Finance Minister Dwight Duncan will release his 2009 budget, which is expected to predict a budget deficit of about $10 billion.
But TD chief economist Don Drummond says the following year could set a record in the province. Drummond says in 2010 the deficit could grow to $15 billion.
The record for red ink was set by the NDP government of Bob Rae in 1992-93.
A senior economist says Ontario could be facing a $15 billion deficit next year.
On March 26, provincial Finance Minister Dwight Duncan will release his 2009 budget, which is expected to predict a budget deficit of about $10 billion.
But TD chief economist Don Drummond says the following year could set a record in the province. Drummond says in 2010 the deficit could grow to $15 billion.
The record for red ink was set by the NDP government of Bob Rae in 1992-93.
A senior economist says Ontario could be facing a $15 billion deficit next year.
On March 26, provincial Finance Minister Dwight Duncan will release his 2009 budget, which is expected to predict a budget deficit of about $10 billion.
But TD chief economist Don Drummond says the following year could set a record in the province. Drummond says in 2010 the deficit could grow to $15 billion.
The record for red ink was set by the NDP government of Bob Rae in 1992-93.
A senior economist says Ontario could be facing a $15 billion deficit next year.
On March 26, provincial Finance Minister Dwight Duncan will release his 2009 budget, which is expected to predict a budget deficit of about $10 billion.
But TD chief economist Don Drummond says the following year could set a record in the province. Drummond says in 2010 the deficit could grow to $15 billion.
The record for red ink was set by the NDP government of Bob Rae in 1992-93.
Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.
Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.
Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.
Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.
Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.
Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.
Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.
Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.
Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.
Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.
Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.
Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.
Caisse CEO Fernand Perreault, left, announces the fund's results as chairman Pierre Brunet watches at a news conference in Montreal on Wednesday.(Ryan Remiorz/Canadian Press)
Caisse CEO Fernand Perreault, left, announces the fund's results as chairman Pierre Brunet watches at a news conference in Montreal on Wednesday.(Ryan Remiorz/Canadian Press)
Caisse CEO Fernand Perreault, left, announces the fund's results as chairman Pierre Brunet watches at a news conference in Montreal on Wednesday.(Ryan Remiorz/Canadian Press)
Biovail founder Eugene Melnyk is badgering the management of Biovail and demanding a shareholder vote on "several resolutions to bolster Biovail's corporate governance practices."
Biovail founder Eugene Melnyk is badgering the management of Biovail and demanding a shareholder vote on "several resolutions to bolster Biovail's corporate governance practices."
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
A total 218 jobs were terminated or scaled back Tuesday at De Beers Canada's Snap Lake diamond mine, 220 kilometres northeast of Yellowknife.(CBC)
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
A total 218 jobs were terminated or scaled back Tuesday at De Beers Canada's Snap Lake diamond mine, 220 kilometres northeast of Yellowknife.(CBC)
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
A total 218 jobs were terminated or scaled back Tuesday at De Beers Canada's Snap Lake diamond mine, 220 kilometres northeast of Yellowknife.(CBC)
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
A total 218 jobs were terminated or scaled back Tuesday at De Beers Canada's Snap Lake diamond mine, 220 kilometres northeast of Yellowknife.(CBC)
A total 218 jobs were terminated or scaled back Tuesday at De Beers Canada's Snap Lake diamond mine, 220 kilometres northeast of Yellowknife.(CBC)
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.
In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."
A total 218 jobs were terminated or scaled back Tuesday at De Beers Canada's Snap Lake diamond mine, 220 kilometres northeast of Yellowknife.(CBC)
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
American Express is paying some U.S. cardholders $300 to close their accounts as the company grapples with reduced spending by consumers and increased delinquency rates.
The company hasn't specified how many people have received the offer, although it says it has been extended to a relatively small batch.
It is available to customers if they pay off their balances and close their accounts in March or April, said the company, which did not reveal the balance totals for the affected people.
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.
According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.
"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."
American Express is paying some U.S. cardholders $300 to close their accounts as the company grapples with reduced spending by consumers and increased delinquency rates.
The company hasn't specified how many people have received the offer, although it says it has been extended to a relatively small batch.
It is available to customers if they pay off their balances and close their accounts in March or April, said the company, which did not reveal the balance totals for the affected people.
American Express is paying some U.S. cardholders $300 to close their accounts as the company grapples with reduced spending by consumers and increased delinquency rates.
The company hasn't specified how many people have received the offer, although it says it has been extended to a relatively small batch.
It is available to customers if they pay off their balances and close their accounts in March or April, said the company, which did not reveal the balance totals for the affected people.
Auto parts maker and car builder Magna International Inc. has posted a fourth-quarter loss of $148 million US and is warning investors of a difficult 2009.
The Aurora, Ont.-based company said Tuesday its loss came in at $1.33 a share. In the same quarter of the previous year, Magna reported profit of $28 million, or 24 cents a share.
Sales decreased to $4.8 billion, down 29 per cent from the fourth quarter of 2007. Magna said it saw lower sales in all its geographic regions.
American Express is paying some U.S. cardholders $300 to close their accounts as the company grapples with reduced spending by consumers and increased delinquency rates.
The company hasn't specified how many people have received the offer, although it says it has been extended to a relatively small batch.
It is available to customers if they pay off their balances and close their accounts in March or April, said the company, which did not reveal the balance totals for the affected people.
Canadian retail activity in December tumbled to its biggest drop in over 15 years, Statistics Canada reported Monday.
The one-month drop of 5.4 per cent surpassed the 4.5 per cent sales drop seen in January 1998, when a massive ice storm hit much of Ontario and Quebec.
Economists had expected a December decline of roughly 2.7 per cent.
"Canadian consumers are going into lockdown mode," said BMO Capital Markets economist Douglas Porter.
Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
Canadian retail activity in December tumbled to its biggest drop in over 15 years, Statistics Canada reported Monday.
The one-month drop of 5.4 per cent surpassed the 4.5 per cent sales drop seen in January 1998, when a massive ice storm hit much of Ontario and Quebec.
Economists had expected a December decline of roughly 2.7 per cent.
"Canadian consumers are going into lockdown mode," said BMO Capital Markets economist Douglas Porter.
Canadian retail activity in December tumbled to its biggest drop in over 15 years, Statistics Canada reported Monday.
The one-month drop of 5.4 per cent surpassed the 4.5 per cent sales drop seen in January 1998, when a massive ice storm hit much of Ontario and Quebec.
Economists had expected a December decline of roughly 2.7 per cent.
"Canadian consumers are going into lockdown mode," said BMO Capital Markets economist Douglas Porter.
American Express is paying some U.S. cardholders $300 to close their accounts as the company grapples with reduced spending by consumers and increased delinquency rates.
The company hasn't specified how many people have received the offer, although it says it has been extended to a relatively small batch.
It is available to customers if they pay off their balances and close their accounts in March or April, said the company, which did not reveal the balance totals for the affected people.
Canadian retail activity in December tumbled to its biggest drop in over 15 years, Statistics Canada reported Monday.
The one-month drop of 5.4 per cent surpassed the 4.5 per cent sales drop seen in January 1998, when a massive ice storm hit much of Ontario and Quebec.
Economists had expected a December decline of roughly 2.7 per cent.
"Canadian consumers are going into lockdown mode," said BMO Capital Markets economist Douglas Porter.
Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
American Express is paying some U.S. cardholders $300 to close their accounts as the company grapples with reduced spending by consumers and increased delinquency rates.
The company hasn't specified how many people have received the offer, although it says it has been extended to a relatively small batch.
It is available to customers if they pay off their balances and close their accounts in March or April, said the company, which did not reveal the balance totals for the affected people.
Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
Canadian retail activity in December tumbled to its biggest drop in over 15 years, Statistics Canada reported Monday.
The one-month drop of 5.4 per cent surpassed the 4.5 per cent sales drop seen in January 1998, when a massive ice storm hit much of Ontario and Quebec.
Economists had expected a December decline of roughly 2.7 per cent.
"Canadian consumers are going into lockdown mode," said BMO Capital Markets economist Douglas Porter.
The eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionCanwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
The eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionCanwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.
Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.
Score Media shares closed Tuesday at 54 cents.
John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."
The eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionThe eye-popping loss reported Wednesday by the Caisse de dépôt et placement du Québec is the latest by a big Canadian pension fund, reflecting the financial markets' rough ride in 2008.
Here are the numbers from the Caisse and some other large funds:
Caisse de dépôt et placement du QuébecAssets (Dec. 31, 2008) $120.1 billionDrop in assets (from Dec. 31, 2007) $39.8 billionWeighted average return on depositors' funds –25%Ontario Municipal Employees Retirement System Assets (Dec. 31, 2008) $43.5 billionA new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.
However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.
The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.
The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Canadian authorities are looking into the Montreal connection to Stanford Financial Group, the banking institution in the middle of an $8-billion fraud investigation by U.S. authorities.
This week, the U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Texas financier R. Allen Stanford and two senior executives.
Stanford was found in Virginia on Thursday and served with legal papers in a multi-billion-dollar fraud case.
Shares of Calgary-based Nova Chemicals Corp. shot up nearly 300 per cent in Monday trading after the company announced it would be acquired by International Petroleum Investment Co.
Including assumed debt, the takeover deal is worth $2.3 billion US.
International Petroleum, which is owned by the government of the Emirate of Abu Dhabi, is offering $6 US a share in cash for Nova.
Based on an exchange rate of $1.2541, the offer is worth about $7.52 Cdn per share. The actual Canadian dollar amount will be based on exchange rates when the deal closes.
Shares of Calgary-based Nova Chemicals Corp. shot up nearly 300 per cent in Monday trading after the company announced it would be acquired by International Petroleum Investment Co.
Including assumed debt, the takeover deal is worth $2.3 billion US.
International Petroleum, which is owned by the government of the Emirate of Abu Dhabi, is offering $6 US a share in cash for Nova.
Based on an exchange rate of $1.2541, the offer is worth about $7.52 Cdn per share. The actual Canadian dollar amount will be based on exchange rates when the deal closes.
The cost of restaurant closures in the United States weighed on fourth-quarter earnings at Tim Hortons despite solid results from the company's Canadian operations.
The Oakville, Ont.-based coffee chain said Friday it made a profit of $69.1 million, or 38 cents a share, down from $75.7 million, or 40 cents a share, in the same quarter of the previous year.
Closures of outlets in the United States, coupled with related charges for asset impairments, lopped eight cents per share off the company's bottom line in the most-recent quarter.
The cost of restaurant closures in the United States weighed on fourth-quarter earnings at Tim Hortons despite solid results from the company's Canadian operations.
The Oakville, Ont.-based coffee chain said Friday it made a profit of $69.1 million, or 38 cents a share, down from $75.7 million, or 40 cents a share, in the same quarter of the previous year.
Closures of outlets in the United States, coupled with related charges for asset impairments, lopped eight cents per share off the company's bottom line in the most-recent quarter.
The cost of restaurant closures in the United States weighed on fourth-quarter earnings at Tim Hortons despite solid results from the company's Canadian operations.
The Oakville, Ont.-based coffee chain said Friday it made a profit of $69.1 million, or 38 cents a share, down from $75.7 million, or 40 cents a share, in the same quarter of the previous year.
Closures of outlets in the United States, coupled with related charges for asset impairments, lopped eight cents per share off the company's bottom line in the most-recent quarter.
The cost of restaurant closures in the United States weighed on fourth-quarter earnings at Tim Hortons despite solid results from the company's Canadian operations.
The Oakville, Ont.-based coffee chain said Friday it made a profit of $69.1 million, or 38 cents a share, down from $75.7 million, or 40 cents a share, in the same quarter of the previous year.
Closures of outlets in the United States, coupled with related charges for asset impairments, lopped eight cents per share off the company's bottom line in the most-recent quarter.
The cost of restaurant closures in the United States weighed on fourth-quarter earnings at Tim Hortons despite solid results from the company's Canadian operations.
The Oakville, Ont.-based coffee chain said Friday it made a profit of $69.1 million, or 38 cents a share, down from $75.7 million, or 40 cents a share, in the same quarter of the previous year.
Closures of outlets in the United States, coupled with related charges for asset impairments, lopped eight cents per share off the company's bottom line in the most-recent quarter.
The cost of restaurant closures in the United States weighed on fourth-quarter earnings at Tim Hortons despite solid results from the company's Canadian operations.
The Oakville, Ont.-based coffee chain said Friday it made a profit of $69.1 million, or 38 cents a share, down from $75.7 million, or 40 cents a share, in the same quarter of the previous year.
Closures of outlets in the United States, coupled with related charges for asset impairments, lopped eight cents per share off the company's bottom line in the most-recent quarter.
Two of the Big Three automakers, General Motors and Chrysler, will present their restructuring plans for Canadian operations Friday, days after they asked for billions more from Washington.
Ontario Premier Dalton McGuinty says he and Prime Minister Stephen Harper expect "new demands" from the beleaguered automakers.
Two months ago, the governments of Canada and Ontario offered the automakers $4 billion in aid to prevent a collapse in the faltering global economy.
Can federal politicians lead us out of the recession?
No confidence
7%
Little confidence
32%
Some confidence
49%
Complete confidence
10%
Fewer housing starts, reduced consumer spending, lower prices for commodities and lost jobs are all problems, but a new poll seems to indicate most Canadians think they won't last.
A new CBC poll conducted by Ekos Research suggests Canadians are not only optimistic the economy will improve, they believe the federal government will lead the way.
The number of people in the United States getting unemployment benefits hit an all-time high of nearly five million last week, the U.S. government reported Thursday.
The Labour Department said new applications for benefits held steady last week at 627,000, unchanged from the previous week. Economists had been expecting 620,000 claims.
The number of people getting regular unemployment benefits edged up to 4.99 million — the fourth consecutive week that figure has hit a record level.
Quarterly profits sank 13 per cent and revenue was up just one per cent, Hewlett-Packard reported Wednesday.
Even the technology company's cash-cow printer ink business took a hit because of the recession.
The Palo Alto, Calif.-based company said it earned $1.85 billion US in the three months that ended Jan. 31. That compares with profit of $2.13 billion US a year ago.
HP's sales of $28.8 billion fell short of Wall Street's forecast by more than $3 billion.
Alberta Finance Minister Iris Evans, speaking at the provincial legislature in Edmonton on Thursday, said the provincial economy is forecast to contract by two per cent over the next year.(CBC)
Alberta Finance Minister Iris Evans, speaking at the provincial legislature in Edmonton on Thursday, said the provincial economy is forecast to contract by two per cent over the next year.(CBC)
Fewer basements dug, less concrete poured, and far fewer bricks were laid in Canada in 2008 than in 2007.
Canada Mortgage and Housing Corp. says housing starts fell 7.5 per cent to about 211,056 units in 2008. And that’s just the beginning. The agency forecasts sharply lower levels of starts for the next two years, along with sliding home sales.
2008 (Actual) 2009 (Forecast) 2010 (Forecast) Nfld. and Lab. 3,261 2,675 2,775PEI712 575 625Can federal politicians lead us out of the recession?
No confidence
7%
Little confidence
32%
Some confidence
49%
Complete confidence
10%
Fewer housing starts, reduced consumer spending, lower prices for commodities and lost jobs are all problems, but a new poll seems to indicate most Canadians think they won't last.
A new CBC poll conducted by Ekos Research suggests Canadians are not only optimistic the economy will improve, they believe the federal government will lead the way.
Alberta Finance Minister Iris Evans, speaking at the provincial legislature in Edmonton on Thursday, said the provincial economy is forecast to contract by two per cent over the next year.(CBC)
Fewer basements dug, less concrete poured, and far fewer bricks were laid in Canada in 2008 than in 2007.
Canada Mortgage and Housing Corp. says housing starts fell 7.5 per cent to about 211,056 units in 2008. And that’s just the beginning. The agency forecasts sharply lower levels of starts for the next two years, along with sliding home sales.
2008 (Actual) 2009 (Forecast) 2010 (Forecast) Nfld. and Lab. 3,261 2,675 2,775PEI712 575 625The number of people in the United States getting unemployment benefits hit an all-time high of nearly five million last week, the U.S. government reported Thursday.
The Labour Department said new applications for benefits held steady last week at 627,000, unchanged from the previous week. Economists had been expecting 620,000 claims.
The number of people getting regular unemployment benefits edged up to 4.99 million — the fourth consecutive week that figure has hit a record level.
The number of people in the United States getting unemployment benefits hit an all-time high of nearly five million last week, the U.S. government reported Thursday.
The Labour Department said new applications for benefits held steady last week at 627,000, unchanged from the previous week. Economists had been expecting 620,000 claims.
The number of people getting regular unemployment benefits edged up to 4.99 million — the fourth consecutive week that figure has hit a record level.
Quarterly profits sank 13 per cent and revenue was up just one per cent, Hewlett-Packard reported Wednesday.
Even the technology company's cash-cow printer ink business took a hit because of the recession.
The Palo Alto, Calif.-based company said it earned $1.85 billion US in the three months that ended Jan. 31. That compares with profit of $2.13 billion US a year ago.
HP's sales of $28.8 billion fell short of Wall Street's forecast by more than $3 billion.
Quarterly profits sank 13 per cent and revenue was up just one per cent, Hewlett-Packard reported Wednesday.
Even the technology company's cash-cow printer ink business took a hit because of the recession.
The Palo Alto, Calif.-based company said it earned $1.85 billion US in the three months that ended Jan. 31. That compares with profit of $2.13 billion US a year ago.
HP's sales of $28.8 billion fell short of Wall Street's forecast by more than $3 billion.
Catalyst Paper Corp. produces pulp and paper, as well as speciality printing papers and newsprint, for the western North American market. (Catalyst Paper Corp.)
Catalyst Paper Corp. produces pulp and paper, as well as speciality printing papers and newsprint, for the western North American market. (Catalyst Paper Corp.)
Catalyst Paper Corp. produces pulp and paper, as well as speciality printing papers and newsprint, for the western North American market. (Catalyst Paper Corp.)
Catalyst Paper Corp. produces pulp and paper, as well as speciality printing papers and newsprint, for the western North American market. (Catalyst Paper Corp.)
Catalyst Paper Corp. produces pulp and paper, as well as speciality printing papers and newsprint, for the western North American market. (Catalyst Paper Corp.)
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.
Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.
"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.
Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.
"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
Loblaw 3-month TSX chart
Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.
The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.
Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.
"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.
The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.
Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.
"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.
Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.
"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.
The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.
Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.
"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.
The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.
While the loonie sank, North American stock indices were hit with triple-digit losses.
Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
Telus 3-month TSX chart
Telus Corp. said Friday that its fourth-quarter revenues rose by 5.3 per cent year-over-year, but its bottom line was off by 29 per cent.
The Vancouver-based company said it made $285 million, or 90 cents a share, for the last quarter of 2008. In the same quarter of 2007, Telus made a profit of $400 million, or $1.23 a share.
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
Telus 3-month TSX chart
Telus Corp. said Friday that its fourth-quarter revenues rose by 5.3 per cent year-over-year, but its bottom line was off by 29 per cent.
The Vancouver-based company said it made $285 million, or 90 cents a share, for the last quarter of 2008. In the same quarter of 2007, Telus made a profit of $400 million, or $1.23 a share.
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
Don Pittis, senior producer of CBC News Business.The long-awaited $787-billion U.S. stimulus package is finally law. So why isn't everyone celebrating?
U.S. President Barack Obama signs the economic stimulus bill during a ceremony Tuesday in the Denver Museum of Nature & Science.(David Zalubowski/Associated Press)
Canada's broadcast regulator says it wants to allow one-year licence renewals to conventional television broadcasters, such as CBC, CTV and Global in spring 2009, because of the financial issues faced by the industry.
The Canadian Radio-television and Telecommunications Commission usually renews broadcast licences for a seven-year period.
The CRTC issued a statement Friday outlining the issues it will cover in its spring 2009 hearings, including the amount of local programming and Canadian programming broadcasters should produce.
Telus 3-month TSX chart
Telus Corp. said Friday that its fourth-quarter revenues rose by 5.3 per cent year-over-year, but its bottom line was off by 29 per cent.
The Vancouver-based company said it made $285 million, or 90 cents a share, for the last quarter of 2008. In the same quarter of 2007, Telus made a profit of $400 million, or $1.23 a share.
Telus 3-month TSX chart
Telus Corp. said Friday that its fourth-quarter revenues rose by 5.3 per cent year-over-year, but its bottom line was off by 29 per cent.
The Vancouver-based company said it made $285 million, or 90 cents a share, for the last quarter of 2008. In the same quarter of 2007, Telus made a profit of $400 million, or $1.23 a share.
Telus 3-month TSX chart
Telus Corp. said Friday that its fourth-quarter revenues rose by 5.3 per cent year-over-year, but its bottom line was off by 29 per cent.
The Vancouver-based company said it made $285 million, or 90 cents a share, for the last quarter of 2008. In the same quarter of 2007, Telus made a profit of $400 million, or $1.23 a share.
