Car sales expected to drop 16% across Canada

British Columbia and Alberta are on track to post huge drops in car sales for the first two months of 2009 with Canada expected to see auto purchases fall by 16 per cent for the entire year, according to a new report released Monday.

In its most recent forecast, Scotiabank Economics said the country's two most western provinces have experienced a sales slippage in the double-digit range for the January and February period, including more than 30 per cent in British Columbia compared to its 2007 record level.

N.W.T. diamond mine scales back operations

The Diavik diamond mine in the N.W.T. will stop production for two six-week periods, defer the start of underground mine production and speed job cuts to cope with the challenging global market, its owners said Monday.

The summer shutdown is scheduled for July 14 to Aug. 24, while the winter shutdown is scheduled for Dec. 1 to Jan. 11, 2010, Diavik Diamond Mines said in a news release.

In addition, the underground mine will be placed on care and maintenance by the third quarter, once the majority of its construction is complete, said the company, a joint venture between a wholly-owned subsidiary of London-based Rio Tinto and Harry Winston Diamonds.

Starbucks announces first-ever Canadian closing in Richmond, B.C.

Starbucks will close a Canadian location for the first time on Wednesday.(CBC)

P.E.I. aerospace company wins $170M contract

Vector Atlantic has won a seven-year maintenance and overhaul contract with Jazz Air.

'It's a real vote of confidence in the team here at Vector Atlantic.'— Brian Thompson, president of Vector Atlantic

The contract will be worth up to $170 million for the company, which is based in Slemon Park, just outside of Summerside. It received word of the successful bid Tuesday.

"This is certainly very significant for us in terms of being able to meet our aggressive financial and growth projections," company president Brian Thompson told CBC News Wednesday.

Manulife's CEO leaves in May with a full wallet

Manulife's shares have tumbled this year on the Toronto Stock Exchange.

Manulife Financial chief executive officer Dominic D'Alessandro retires from the company in May, but he'll leave with a generous pay packet.

CAW, Chrysler adjourn talks until Saturday, government deadline looms

Ken Lewenza speaks at a news conference in Toronto on Friday.(CBC)

Small Alberta towns losing local newspapers

The Nanton News plans to shut down its office in Nanton and run a consolidated operation in the neighbouring town of High River.(CBC)

652,000 Americans applied for their first jobless benefit last week

The number of Americans filing their first jobless benefit claim rose slightly last week while the number of people continuing to claim benefits set a record for the ninth straight week, according to the U.S. Labour Department.

It said first-time claims for unemployment insurance rose to a seasonally adjusted 652,000 from the previous week's revised figure of 644,000, slightly higher than analysts expected.

A year ago, the number was 367,000.

Magellan might call it quits despite Q4 profit

Magellan Aerospace Corp. might not be able to stay in business because of the tough global credit market, despite turning a fourth-quarter profit, the Canadian aerospace company said Friday.

Toronto-based Magellan, which makes airplane parts, said the firm needs to renew a credit facility and an outstanding loan itself worth $50 million. If not, the company said it might not be able to avoid some sort of company insolvency.

"If the corporation is unable to renew or refinance its operating credit facility...and extend its original loan, its ability to continue as a going concern is uncertain," Magellan said in releasing its fourth-quarter earnings.

New Caisse president says no to bonus

The new president of Quebec's pension fund manager is giving up the performance bonus and other perks that usually come with the job.

Former Bell Canada CEO Michael Sabia has been appointed to head Quebec's Caisse de dépôt et placement du Québec.(Ian Barrett/Canadian Press) Michael Sabia sent a letter this week to the chair of the Caisse de dépôt et placement du Québec saying he will renounce bonuses for 2009 and 2010, even if the fund performs well.

Magellan might call it quits despite Q4 profit

Magellan Aerospace Corp. might not be able to stay in business because of the tough global credit market, despite turning a fourth-quarter profit, the Canadian aerospace company said Friday.

Toronto-based Magellan, which makes airplane parts, said the firm needs to renew a credit facility and an outstanding loan itself worth $50 million. If not, the company said it might not be able to avoid some sort of company insolvency.

"If the corporation is unable to renew or refinance its operating credit facility...and extend its original loan, its ability to continue as a going concern is uncertain," Magellan said in releasing its fourth-quarter earnings.

Magellan might call it quits despite Q4 profit

Magellan Aerospace Corp. might not be able to stay in business because of the tough global credit market, despite turning a fourth-quarter profit, the Canadian aerospace company said Friday.

Toronto-based Magellan, which makes airplane parts, said the firm needs to renew a credit facility and an outstanding loan itself worth $50 million. If not, the company said it might not be able to avoid some sort of company insolvency.

"If the corporation is unable to renew or refinance its operating credit facility...and extend its original loan, its ability to continue as a going concern is uncertain," Magellan said in releasing its fourth-quarter earnings.

Magellan might call it quits despite Q4 profit

Magellan Aerospace Corp. might not be able to stay in business because of the tough global credit market, despite turning a fourth-quarter profit, the Canadian aerospace company said Friday.

Toronto-based Magellan, which makes airplane parts, said the firm needs to renew a credit facility and an outstanding loan itself worth $50 million. If not, the company said it might not be able to avoid some sort of company insolvency.

"If the corporation is unable to renew or refinance its operating credit facility...and extend its original loan, its ability to continue as a going concern is uncertain," Magellan said in releasing its fourth-quarter earnings.

New Caisse president says no to bonus

The new president of Quebec's pension fund manager is giving up the performance bonus and other perks that usually come with the job.

Former Bell Canada CEO Michael Sabia has been appointed to head Quebec's Caisse de dépôt et placement du Québec.(Ian Barrett/Canadian Press) Michael Sabia sent a letter this week to the chair of the Caisse de dépôt et placement du Québec saying he will renounce bonuses for 2009 and 2010, even if the fund performs well.

Canada 10th in world in harnessing technology: report

Canada is once again one of the Top 10 countries in the world at harnessing information and communications technology, according to a survey published Thursday.

Canada climbed from 13th to 10th in 2008-09 in the World Economic Forum's annual report on "networked readiness index," returning to the Top 10 after a two-year absence.

Denmark once again topped the annual index, which measures a range of factors that affect a country's ability to harness information technology, including the political and business environment, how many people are using technology and how "ready" individuals and organizations are to adopt new technologies.

Canada 10th in world in harnessing technology: report

Canada is once again one of the Top 10 countries in the world at harnessing information and communications technology, according to a survey published Thursday.

Canada climbed from 13th to 10th in 2008-09 in the World Economic Forum's annual report on "networked readiness index," returning to the Top 10 after a two-year absence.

Denmark once again topped the annual index, which measures a range of factors that affect a country's ability to harness information technology, including the political and business environment, how many people are using technology and how "ready" individuals and organizations are to adopt new technologies.

Ontario budget could merge sales tax with GST

Printed copies of Ontario's 2009 budget are delivered to Queen's Park Wednesday.(John McGrath/CBC)

The Ontario Liberal government is expected to introduce harmonization of the province's sales tax with the GST in its budget on Thursday to ease costs for struggling businesses and stimulate the province's sagging economy during the global recession.

Canada 10th in world in harnessing technology: report

Canada is once again one of the Top 10 countries in the world at harnessing information and communications technology, according to a survey published Thursday.

Canada climbed from 13th to 10th in 2008-09 in the World Economic Forum's annual report on "networked readiness index," returning to the Top 10 after a two-year absence.

Denmark once again topped the annual index, which measures a range of factors that affect a country's ability to harness information technology, including the political and business environment, how many people are using technology and how "ready" individuals and organizations are to adopt new technologies.

Canada 10th in world in harnessing technology: report

Canada is once again one of the Top 10 countries in the world at harnessing information and communications technology, according to a survey published Thursday.

Canada climbed from 13th to 10th in 2008-09 in the World Economic Forum's annual report on "networked readiness index," returning to the Top 10 after a two-year absence.

Denmark once again topped the annual index, which measures a range of factors that affect a country's ability to harness information technology, including the political and business environment, how many people are using technology and how "ready" individuals and organizations are to adopt new technologies.

Canada 10th in world in harnessing technology: report

Canada is once again one of the Top 10 countries in the world at harnessing information and communications technology, according to a survey published Thursday.

Canada climbed from 13th to 10th in 2008-09 in the World Economic Forum's annual report on "networked readiness index," returning to the Top 10 after a two-year absence.

Denmark once again topped the annual index, which measures a range of factors that affect a country's ability to harness information technology, including the political and business environment, how many people are using technology and how "ready" individuals and organizations are to adopt new technologies.

Ontario budget could merge sales tax with GST

Printed copies of Ontario's 2009 budget are delivered to Queen's Park Wednesday.(John McGrath/CBC)

The Ontario Liberal government is expected to introduce harmonization of the province's sales tax with the GST in its budget on Thursday to ease costs for struggling businesses and stimulate the province's sagging economy during the global recession.

Ontario budget could merge sales tax with GST

Printed copies of Ontario's 2009 budget are delivered to Queen's Park Wednesday.(John McGrath/CBC)

The Ontario Liberal government is expected to introduce harmonization of the province's sales tax with the GST in its budget on Thursday to ease costs for struggling businesses and stimulate the province's sagging economy during the global recession.

Smaller, energy-efficient homes popular: survey

More Canadians are looking at buying smaller homes, a Royal Bank survey released Wednesday suggests.

The proportion of potential home buyers interested in less space hit 27 per cent in January, up from 19 per cent in the bank's 2008 survey, and nearly double the 14 per cent a decade ago.

But more than two-thirds (68 per cent) of potential buyers who may close a deal in the next two years still want a detached home, with condos and lofts trailing at 12 per cent, townhouses at eight per cent and semi-detached homes at six per cent.

Servus CEO gets to keep $3.6M bonus

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus.

Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.

Chairman Bill Anhorn said Blakely was given the money because it was possible he could have lost his job during the amalgamation, and he would have then been entitled to severance pay.

But in April 2008, Blakely was named CEO of the merged organization.

Servus CEO gets to keep $3.6M bonus

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus.

Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.

Chairman Bill Anhorn said Blakely was given the money because it was possible he could have lost his job during the amalgamation, and he would have then been entitled to severance pay.

But in April 2008, Blakely was named CEO of the merged organization.

Servus CEO gets to keep $3.6M bonus

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus.

Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.

Chairman Bill Anhorn said Blakely was given the money because it was possible he could have lost his job during the amalgamation, and he would have then been entitled to severance pay.

But in April 2008, Blakely was named CEO of the merged organization.

Servus CEO gets to keep $3.6M bonus

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus.

Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.

Chairman Bill Anhorn said Blakely was given the money because it was possible he could have lost his job during the amalgamation, and he would have then been entitled to severance pay.

But in April 2008, Blakely was named CEO of the merged organization.

Servus CEO gets to keep $3.6M bonus

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus.

Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.

Chairman Bill Anhorn said Blakely was given the money because it was possible he could have lost his job during the amalgamation, and he would have then been entitled to severance pay.

But in April 2008, Blakely was named CEO of the merged organization.

Servus CEO gets to keep $3.6M bonus

Servus Credit Union won't be asking its CEO to return a $3.6-million bonus.

Steve Blakely was given the bonus in 2008 during a merger with two other Alberta credit unions, Community Savings and Common Wealth credit unions.

Chairman Bill Anhorn said Blakely was given the money because it was possible he could have lost his job during the amalgamation, and he would have then been entitled to severance pay.

But in April 2008, Blakely was named CEO of the merged organization.

Nortel bonuses approved by courts

Courts in Ontario and Delaware gave Nortel Networks permission on Friday to pay retention bonus money to eight senior executives while the company restructures under creditor protection.

Reports indicated the eight executives could receive up to $7.3 million US in bonus money.

The payments are part of a bigger $23-million US incentive program covering 92 staff at the telecommunications company.

Lawyers representing some of the 1,000 workers who were denied severance pay after the company went into creditor protection in January objected Friday to payment of the bonuses to the eight.

Suncor, Petro-Canada announce merger

Suncor Energy CEO Rick George, left, shakes hands with Petro-Canada president and CEO Ron Brenneman after a news conference on Monday announcing a merger to create Canada's largest oil company. (CBC)

March rally continues as TSX surges on merger news

Stock markets have extended their rally to a third week, with indexes in Toronto and New York racking up strong triple-digit advances amid a major deal in the Canadian oilpatch and another effort to revive U.S. banks.

Toronto's S&P/TSX composite index closed up 452.16 points or 5.3 per cent at 8,958.51. The index is up 18.4 per cent since its trough on March 9, led by a 34 per cent rise in the financial sector.

Energy stocks took off after Suncor Energy and Petro-Canada announced an all-stock combination into a company valued at $43.3 billion US.

Oil prices rally, but they won't last : TD Bank

Oil prices rose above $54 US a barrel Monday, boosted by stronger stock markets and a weaker dollar.

Benchmark crude for May delivery rose $1.73 to settle at $53.80 a barrel in trading on the New York Mercantile Exchange, continuing its upward momentum.

But prices were as high as $54.05 earlier in the day.

Dealers said the rally, which was given an extra boost by the U.S. Federal Reserve's decision to buy $1.25 trillion US of government bonds and mortgage-backed securities, continued Monday as equity markets rallied in anticipation of more good news.

Suncor, Petro-Canada announce merger

Suncor Energy CEO Rick George, left, shakes hands with Petro-Canada president and CEO Ron Brenneman after a news conference on Monday announcing a merger to create Canada's largest oil company. (CBC)

Suncor, Petro-Canada announce merger

Suncor Energy CEO Rick George, left, shakes hands with Petro-Canada president and CEO Ron Brenneman after a news conference on Monday announcing a merger to create Canada's largest oil company. (CBC)

March rally continues as TSX surges on merger news

Stock markets have extended their rally to a third week, with indexes in Toronto and New York racking up strong triple-digit advances amid a major deal in the Canadian oilpatch and another effort to revive U.S. banks.

Toronto's S&P/TSX composite index closed up 452.16 points or 5.3 per cent at 8,958.51. The index is up 18.4 per cent since its trough on March 9, led by a 34 per cent rise in the financial sector.

Energy stocks took off after Suncor Energy and Petro-Canada announced an all-stock combination into a company valued at $43.3 billion US.

March rally continues as TSX surges on merger news

Stock markets have extended their rally to a third week, with indexes in Toronto and New York racking up strong triple-digit advances amid a major deal in the Canadian oilpatch and another effort to revive U.S. banks.

Toronto's S&P/TSX composite index closed up 452.16 points or 5.3 per cent at 8,958.51. The index is up 18.4 per cent since its trough on March 9, led by a 34 per cent rise in the financial sector.

Energy stocks took off after Suncor Energy and Petro-Canada announced an all-stock combination into a company valued at $43.3 billion US.

Oil prices rally, but they won't last : TD Bank

Oil prices rose above $54 US a barrel Monday, boosted by stronger stock markets and a weaker dollar.

Benchmark crude for May delivery rose $1.73 to settle at $53.80 a barrel in trading on the New York Mercantile Exchange, continuing its upward momentum.

But prices were as high as $54.05 earlier in the day.

Dealers said the rally, which was given an extra boost by the U.S. Federal Reserve's decision to buy $1.25 trillion US of government bonds and mortgage-backed securities, continued Monday as equity markets rallied in anticipation of more good news.

AIG documents show higher total for bonuses

The attorney general of Connecticut says he's asking insurance giant American International Group Inc. why documents appear to show the company paid $53 million US more in bonuses to its financial products division than reported earlier.

Richard Blumenthal said Saturday he has seen documents showing AIG paid $218 million US in bonuses to employees in a division blamed for much of the company's troubles, not $165 million as previously disclosed.

AIG documents show higher total for bonuses

The attorney general of Connecticut says he's asking insurance giant American International Group Inc. why documents appear to show the company paid $53 million US more in bonuses to its financial products division than reported earlier.

Richard Blumenthal said Saturday he has seen documents showing AIG paid $218 million US in bonuses to employees in a division blamed for much of the company's troubles, not $165 million as previously disclosed.

Oil prices rally, but they won't last : TD Bank

Oil prices rose above $54 US a barrel Monday, boosted by stronger stock markets and a weaker dollar.

Benchmark crude for May delivery rose $1.73 to settle at $53.80 a barrel in trading on the New York Mercantile Exchange, continuing its upward momentum.

But prices were as high as $54.05 earlier in the day.

Dealers said the rally, which was given an extra boost by the U.S. Federal Reserve's decision to buy $1.25 trillion US of government bonds and mortgage-backed securities, continued Monday as equity markets rallied in anticipation of more good news.

AIG documents show higher total for bonuses

The attorney general of Connecticut says he's asking insurance giant American International Group Inc. why documents appear to show the company paid $53 million US more in bonuses to its financial products division than reported earlier.

Richard Blumenthal said Saturday he has seen documents showing AIG paid $218 million US in bonuses to employees in a division blamed for much of the company's troubles, not $165 million as previously disclosed.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Underwear company to shrink work week to save jobs

Two-hundred employees at an underwear manufacturing company in Nova Scotia can expect to be working a four-day week next month to avoid layoffs.

The work-sharing plan involves half the workforce at the Stanfield's operation in Truro.

"What we've seen since Dec. 1 is softer retail sales, and that seems to be continuing. That obviously means we can't keep our people busy full time," said Andrew Sears, the company's vice-president of manufacturing.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Underwear company to shrink work week to save jobs

Two-hundred employees at an underwear manufacturing company in Nova Scotia can expect to be working a four-day week next month to avoid layoffs.

The work-sharing plan involves half the workforce at the Stanfield's operation in Truro.

"What we've seen since Dec. 1 is softer retail sales, and that seems to be continuing. That obviously means we can't keep our people busy full time," said Andrew Sears, the company's vice-president of manufacturing.

Underwear company to shrink work week to save jobs

Two-hundred employees at an underwear manufacturing company in Nova Scotia can expect to be working a four-day week next month to avoid layoffs.

The work-sharing plan involves half the workforce at the Stanfield's operation in Truro.

"What we've seen since Dec. 1 is softer retail sales, and that seems to be continuing. That obviously means we can't keep our people busy full time," said Andrew Sears, the company's vice-president of manufacturing.

Underwear company to shrink work week to save jobs

Two-hundred employees at an underwear manufacturing company in Nova Scotia can expect to be working a four-day week next month to avoid layoffs.

The work-sharing plan involves half the workforce at the Stanfield's operation in Truro.

"What we've seen since Dec. 1 is softer retail sales, and that seems to be continuing. That obviously means we can't keep our people busy full time," said Andrew Sears, the company's vice-president of manufacturing.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

Underwear company to shrink work week to save jobs

Two-hundred employees at an underwear manufacturing company in Nova Scotia can expect to be working a four-day week next month to avoid layoffs.

The work-sharing plan involves half the workforce at the Stanfield's operation in Truro.

"What we've seen since Dec. 1 is softer retail sales, and that seems to be continuing. That obviously means we can't keep our people busy full time," said Andrew Sears, the company's vice-president of manufacturing.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

Toronto's Kinross Gold stakes claim in N.W.T. diamond mine

A Canadian gold company, Kinross Gold Corp., is entering the diamond business by investing in the Diavik mine in the Northwest Territories.

Toronto-based Kinross is paying $150 US million for an indirect interest in the Diavik mine, as well as a 19.9 per cent stake in Harry Winston Diamond Corp., the mine's minority shareholder.

The deal came as prices for rough diamonds are plummeting, but Kinross president and CEO Tye Burt said the company is making a long-term investment.

Underwear company to shrink work week to save jobs

Two-hundred employees at an underwear manufacturing company in Nova Scotia can expect to be working a four-day week next month to avoid layoffs.

The work-sharing plan involves half the workforce at the Stanfield's operation in Truro.

"What we've seen since Dec. 1 is softer retail sales, and that seems to be continuing. That obviously means we can't keep our people busy full time," said Andrew Sears, the company's vice-president of manufacturing.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

TSX index falls, ending 8-day rally

The Toronto stock market closed sharply lower on Friday, as investors locked in gains from an eight-day rally.

New York markets also gave up ground, with financials leading the way.

Toronto's S&P/TSX composite index fell 184.14 points, or 2.1 per cent, to 8,506.35. It's still up 935 points, or 12.4 per cent, over the eight-day runup that began March 10.

The Canadian dollar fell 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

Lobster, the new bologna: campaign

With lobster season starting in about a month, something has to be done with last year's frozen catch.(CBC)

With a glut of frozen lobster in Atlantic Canadian warehouses, federal and provincial money is being put toward a new marketing strategy to move it.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

U.S. House of Representatives to tax bonuses at bailed-out firms

Ronald Schupp, centre, joins hundreds of workers protesting outside the Bank of America before marching toward AIG offices on Thursday in Chicago. The group said they were protesting the Wall Street firms whose behaviour before and since the U.S. bailout has weakened the economy through corporate excess. (M. Spencer Green/Associated Press)The U.S. House of Representatives passed a bill on Thursday that would see some American International Group executives hit with a 90 per cent tax on bonuses they received.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

Federal Reserve to buy $300B of U.S. gov't securities

Moving in a new way to boost the U.S. economy, the Federal Reserve said Wednesday it will buy up to $300 billion US of long-term government securities over the next six months.

Saying the U.S. economic situation has deteriorated since its January rate decision, the U.S. central bank said it will also buy up to $750 billion US in additional mortgage-backed securities, bringing its total purchases of these securities up to $1.25 trillion US this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

Potash Corp. extends layoff of 940 workers

Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash's Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

Vancouver expects to lose $18M after cruise line changes base

The Carnival Spirit typically brings around 20,000 passengers a year through Vancouver.(CBC)

AIG paid $1M US or more to 73 people: Cuomo

American International Group paid out bonuses of at least $1 million US to 73 employees, New York Attorney General Andrew Cuomo said Tuesday.

Included in that group are 11 people who no longer work for AIG.

One employee received $6.4 million US while another seven got more than $4 million US each.

The company paid out a total of $160 million US in bonuses. The bonus money was paid out on Friday, Cuomo said.

The insurance company is under fire for paying out the bonuses as it has received billions of dollars in taxpayer money from the U.S. government as part of a bailout package to keep AIG from collapsing.

Potash Corp. extends layoff of 940 workers

Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash's Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

Potash Corp. extends layoff of 940 workers

Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash's Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

Potash Corp. extends layoff of 940 workers

Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash's Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

Potash Corp. extends layoff of 940 workers

Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash's Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

Potash Corp. extends layoff of 940 workers

Potash Corp. of Saskatchewan plans to extend the temporary layoff of 940 workers who were let go in January.

The layoff covers workers at Potash's Saskatchewan plants in Rocanville, Lanigan and Allan.

Workers at those fertilizer sites were initially laid off for eight weeks.

The extended layoffs come one day after Potash said it is reducing its 2009 potash production by an additional 1.5 million tonnes, bringing the total expected cut of its capacity to at least 3.5 million tonnes this year.

Ottawa to face bigger deficit: TD Bank

The recession is going to force the federal government much deeper into deficit than it forecast in its last budget, according to the Toronto-Dominion bank.

"The result is [an] all-time high deficit of $39.2 billion in fiscal 2009-10 and $42.3 billion in fiscal 2010-11," said Toronto-Dominion chief economist Don Drummond in a statement.

"[It's] well above the red ink of $33.7 billion and $29.8 billion shown in the budget. Still, as a share of GDP, the budget shortfalls will be considerably lower than the 5-8% levels recorded during the 1980s and early 1990s."

Ottawa to face bigger deficit: TD Bank

The recession is going to force the federal government much deeper into deficit than it forecast in its last budget, according to the Toronto-Dominion bank.

"The result is [an] all-time high deficit of $39.2 billion in fiscal 2009-10 and $42.3 billion in fiscal 2010-11," said Toronto-Dominion chief economist Don Drummond in a statement.

"[It's] well above the red ink of $33.7 billion and $29.8 billion shown in the budget. Still, as a share of GDP, the budget shortfalls will be considerably lower than the 5-8% levels recorded during the 1980s and early 1990s."

Ottawa to face bigger deficit: TD Bank

The recession is going to force the federal government much deeper into deficit than it forecast in its last budget, according to the Toronto-Dominion bank.

"The result is [an] all-time high deficit of $39.2 billion in fiscal 2009-10 and $42.3 billion in fiscal 2010-11," said Toronto-Dominion chief economist Don Drummond in a statement.

"[It's] well above the red ink of $33.7 billion and $29.8 billion shown in the budget. Still, as a share of GDP, the budget shortfalls will be considerably lower than the 5-8% levels recorded during the 1980s and early 1990s."

Agrium will present takeover bid to shareholders of CF Industries

Fertilizer giant Agrium has decided to present its takeover bid of CF Industries directly to the company's shareholders.

The Calgary-based company earlier launched a hostile $3.6-billion US takeover for its American rival, but was rebuffed by its board.

"CF's refusal to engage in discussions with Agrium left us with no choice but to take our offer directly to CF stockholders," Agrium president and CEO Mike Wilson said Monday in a statement.

Agrium will present takeover bid to shareholders of CF Industries

Fertilizer giant Agrium has decided to present its takeover bid of CF Industries directly to the company's shareholders.

The Calgary-based company earlier launched a hostile $3.6-billion US takeover for its American rival, but was rebuffed by its board.

"CF's refusal to engage in discussions with Agrium left us with no choice but to take our offer directly to CF stockholders," Agrium president and CEO Mike Wilson said Monday in a statement.

Ottawa to face bigger deficit: TD Bank

The recession is going to force the federal government much deeper into deficit than it forecast in its last budget, according to the Toronto-Dominion bank.

"The result is [an] all-time high deficit of $39.2 billion in fiscal 2009-10 and $42.3 billion in fiscal 2010-11," said Toronto-Dominion chief economist Don Drummond in a statement.

"[It's] well above the red ink of $33.7 billion and $29.8 billion shown in the budget. Still, as a share of GDP, the budget shortfalls will be considerably lower than the 5-8% levels recorded during the 1980s and early 1990s."

Agrium will present takeover bid to shareholders of CF Industries

Fertilizer giant Agrium has decided to present its takeover bid of CF Industries directly to the company's shareholders.

The Calgary-based company earlier launched a hostile $3.6-billion US takeover for its American rival, but was rebuffed by its board.

"CF's refusal to engage in discussions with Agrium left us with no choice but to take our offer directly to CF stockholders," Agrium president and CEO Mike Wilson said Monday in a statement.

Agrium will present takeover bid to shareholders of CF Industries

Fertilizer giant Agrium has decided to present its takeover bid of CF Industries directly to the company's shareholders.

The Calgary-based company earlier launched a hostile $3.6-billion US takeover for its American rival, but was rebuffed by its board.

"CF's refusal to engage in discussions with Agrium left us with no choice but to take our offer directly to CF stockholders," Agrium president and CEO Mike Wilson said Monday in a statement.

February jobless rate rises to 7.7%

February jobless rate rises to 7.7% (CBC)

Canada's unemployment rate rose to 7.7 per cent in February, when 82,600 jobs were lost, the fourth consecutive month of declines.

February jobless rate rises to 7.7%

February jobless rate rises to 7.7% (CBC)

Canada's unemployment rate rose to 7.7 per cent in February, when 82,600 jobs were lost, the fourth consecutive month of declines.

Obama, voicing outrage, vows battle to block AIG bonuses

U.S. President Barack Obama, accompanied by Philadelphia restaurant owner Marco Lentini, right, and Grapevine, Texas, banker Cynthia Blankenship, delivers remarks to small business owners, community lenders and members of Congress Monday at the White House in Washington, D.C.(Gerald Herbert/Associated Press)

Stop the presses: Seattle Post-Intelligencer to publish on web only

The Seattle Post-Intelligencer, a newspaper that dates back to the city's frontier days, will issue its final print edition Tuesday and move entirely to publishing online, owner Hearst Corp. announced Monday.

The online version of the 146-year-old Post-Intelligencer will be "an effort to craft a new type of digital business with a robust, community news and information website at its core," said Steven R. Swartz, president of Hearst Newspapers.

Stop the presses: Seattle Post-Intelligencer to publish on web only

The Seattle Post-Intelligencer, a newspaper that dates back to the city's frontier days, will issue its final print edition Tuesday and move entirely to publishing online, owner Hearst Corp. announced Monday.

The online version of the 146-year-old Post-Intelligencer will be "an effort to craft a new type of digital business with a robust, community news and information website at its core," said Steven R. Swartz, president of Hearst Newspapers.

Stop the presses: Seattle Post-Intelligencer to publish on web only

The Seattle Post-Intelligencer, a newspaper that dates back to the city's frontier days, will issue its final print edition Tuesday and move entirely to publishing online, owner Hearst Corp. announced Monday.

The online version of the 146-year-old Post-Intelligencer will be "an effort to craft a new type of digital business with a robust, community news and information website at its core," said Steven R. Swartz, president of Hearst Newspapers.

Manufacturing sector extends slump

Canadian manufacturing sales continued a streak of declines that dates back to August 2008 as they fell by 5.4 per cent in January.

The drop left sales by the country's manufacturers near 10-year lows.

Manufacturing sector extends slump

Canadian manufacturing sales continued a streak of declines that dates back to August 2008 as they fell by 5.4 per cent in January.

The drop left sales by the country's manufacturers near 10-year lows.

Manufacturing sector extends slump

Canadian manufacturing sales continued a streak of declines that dates back to August 2008 as they fell by 5.4 per cent in January.

The drop left sales by the country's manufacturers near 10-year lows.

G20 officials pledge 'whatever action necessary' to revive economy

Finance officials from the world's richest and leading developing countries agreed Saturday to take "whatever action is necessary" to restore global economic growth and support lending.