Business News
TD Bank chief economist Don Drummond to retire in June
TORONTO - TD Bank chief economist Don Drummond plans to retire at the end of June. The bank says Drummond will be succeeded by Craig Alexander, who is currently TD's deputy chief economist. Drummon...
Kinross takeover offer values Underworld Resources at $139.2 million
TORONTO - Kinross Gold Corp. (TSX:K) is offering to pay a premium to buy the rest of Underworld Resources Inc. (TSXV:UW) in a stock-and-cash deal that values the junior mining company at $139.2 millio...
Power Financial Corp. posts $340M Q4 profit; reverses year-ago loss
MONTREAL - Power Financial Corp., whose subsidiaries include Great-West Lifeco Inc. (TSX:GWO) and IGM Financial Inc. (TSX:IGM), reported a big improvement in fourth-quarter earnings Thursday despite a...
Crescent Point posts fourth-quarter loss on hedging losses
CALGARY - Crescent Point Energy Corp. (TSX:CPG), an oil and gas producer, reported a fourth-quarter loss of $4 million compared to a profit of $361 million in the same quarter of 2008, its results aff...
Stocks little changed as investors continue to digest last week's big advance
TORONTO - The Toronto stock market was little changed late Thursday morning as tech stocks provided lift and commodity stocks recovered from early declines sparked by higher Chinese inflation data. ...
Transat stock hammered after Q1 loss turns out to be deeper than expected
MONTREAL - Transat A.T. Inc. shares plunged Thursday after the Montreal-based vacation company reported its revenue last quarter was down nearly 10 per cent from a year earlier and revealed that its c...
HSBC says data on Swiss bank accounts of 24,000 stolen, exposing to tax probes
GENEVA - Information on 24,000 HSBC customers with Swiss accounts has been stolen, the British bank said Thursday, potentially exposing large numbers of international clients to prosecution by tax aut...
China inflation worries, poor U.S. jobs data depresses stock markets
TORONTO - The Toronto stock market was little changed Thursday, with its main index down a few points in a continuation of what has been a remarkably tame week. The S&P/TSX composite index was down...
January US trade deficit shrinks to $37.3B as imports fall more than exports
WASHINGTON - The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell, a potential blow to hopes that the economic re...
Equinox Minerals reports Q4 loss on hedging, sees strong revenues from Lumwana
TORONTO - Resource company Equinox Minerals Ltd. reported a fourth-quarter loss Wednesday as it continued to book revenues from the Lumwana copper mine, which began production earlier in the year. ...
