Latest Breaking Business News
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Market Snapshot U.s. Stocks Down But Dow Trims Loss
NEW YORK – U.S. stocks traded in the red but at the session's best levels on Friday afternoon following another volatile session for Asian markets.Friday's upbeat durable-goods data largely has failed to overcome negative sentiment, as concerns about a potential tapering in the Federal Reserve's bond-buying program persisted. Investors also could be opting to lock in profits ...
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Loblaw files preliminary prospectus for $7-billion REIT
Loblaw Cos. Ltd. filed a preliminary prospectus Friday for a planned $7-billion real estate investment trust for its sizable land portfolio under the name Choice Properties Real Estate. The units of the REIT will be priced at $10, comprised of 425 properties and 35.3-million square feet of leasable space. It includes 415 retail properties, an office complex and nine warehouse properties. The ...
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Search on for Poloz’s replacement at Export Development Canada
OTTAWA -- With the appointment of Stephen Poloz as governor of the Bank of Canada, the search is on for his replacement at Export Development Canada. Mr. Poloz, currently president and CEO of the export credit agency, was chosen May 2 to replace bank governor Mark Carney, who is leaving June 1 to head the Bank of England. Mr. Poloz begins his new job on June 3. The quick turn-around means ...
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Toronto Mayor Ford’s alleged crack use hasn’t hurt Moody’s ratings
Toronto Mayor Rob Ford's alleged cocaine use, which has become material for U.S. late-night comedy sketches and prompted calls for his resignation, hasn't impaired the city's ...
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Microsoft Explains the Xbox Ones Cloud-Enhanced Graphics
IDG News Service - While Microsoft's next-generation Xbox One will have plenty of power on its own, sometimes it might opt for a little help from the ...
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Obamacares union support waning
WASHINGTON Some labor unions that enthusiastically backed President Barack Obama's health care overhaul are now frustrated and angry, fearful that it will jeopardize benefits for millions of their members. Union leaders warn that unless the problem is fixed, there could be consequences for Democrats facing re-election next year. "It makes an untruth out of what the president said -- ...
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What we think we know about what Microsoft isn’t saying about the Xbox One
For all of the things Microsoft has revealed about the Xbox One this week, the company has evaded and dismissed just as many important questions and concerns about the console. In an effort to clear the air, we've pieced together the best available information on three of these important issues while we wait for Microsoft to offer more ...
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Its a mixed shopping bag for three big retailers earnings
Foot Locker opened 25 new stores during the quarter and closed 39, for a current total of 3,321 stores in 23 countries, plus 45 franchised stores in the Middle East and South Korea. Retailers Foot Locker Inc. and New York & Co. reported better-than-expected first-quarter earnings but Aeropostale Inc. swung to a loss and said it expects a further loss in its second quarter. Athletic footwear and ...
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US STOCKS SNAPSHOT-PG lifts Dow into positive territory
NEW YORK | Fri May 24, 2013 2:25pm EDT NEW YORK May 24 (Reuters) - U.S. stock indexes pared most of their earlier declines on Friday and the Dow pushed into positive territory, helped by a strong gain in shares of Procter & Gamble. The Dow Jones industrial average edged up 4.42 points, or 0.03 percent, at 15,298.92. The Standard & Poor's 500 Index were off 1.69 points, or 0.10 ...
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At midday TSX Wall Street lower ahead of long U.S. weekend
Trader Christopher Morie works on his handheld device on the floor of the New York Stock Exchange Monday, April 29, 2013. World stock markets were muted Tuesday May 7, 2013 as cheer over the better-than-expected U.S. jobs report faded. (Richard ...
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Delta strengthens its hand in battle for NY travel market with $1.4 billion JFK terminal
Delta Air Lines is opening a $1.4 billion terminal at John F. Kennedy International Airport, strengthening its hand in the battle for the lucrative New York travel market. The expanded concourse offers sweeping views of the airport, upscale food and shopping options and increased seating. It replaces a decrepit terminal built by Pan Am in 1960 that was an embarrassing way to welcome millions ...
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Futures Movers Oil cuts loss stays on track for weekly decline
SAN FRANCISCO (MarketWatch) -- Oil futures on Friday were on track to log a decline for a fourth session in a row, with concerns about lackluster energy demand following weak Chinese data helping to set prices up for a loss on the ...
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Federal Reserve risks boom and bust as QE dilemma presses
quantitative easing programme at the "next few meetings" if the economic data warranted such a move.The former remark was good for a 1% gain on the US stock market. The latter comment sent prices into reverse and contributed to the 7% slump in the Nikkei 225 index on Thursday. The fallout continued on Friday as the Japanese stock market fell sharply before recovering.So which is it? Is ...
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HSBC under fire from all sides at AGM
HSBC on Friday bombarded the group's board with barrage of accusations ranging from financing Mexican drug cartels to supporting tax havens, slashing jobs and mis-selling products.At the banking firm's first annual general meeting since paying a record $1.9bn (1.2bn) in penalties to settle US money laundering claims, they also rounded on the directors with charges of hunting down ...
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Men Help Recharge US Luxury Buying
Most men might balk at spending $600 on a pair of Dior sneakers but for U.S. shoppers like Ephraim, an upbeat 30-year-old, such indulgences are becoming increasingly commonplace. Ephraim is the kind of man who gives luxury goods makers high hopes that the U.S. market can fuel future growth, as China runs out of steam and demand in Europe sags. "There is a cultural shift," Ephraim says ...
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Farm Workers Get Paid A Little Bit More
Farm operators paid their hired workers an average wage of $11.91 per hour during the April 2013 reference week, up 4 percent from a year earlier. Field workers received an average of $10.92 per hour, up 4 percent from a year earlier. Livestock workers earned $11.46, up 51 cents. The field and livestock worker combined wage rate, at $11.10 per hour, was up 48 cents from a year earlier. Hired ...
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Jeff Gordon may make his Coca-Cola 600 anniversary a winner
Dannie Walls/Icon SMI/Icon SMI He is no longer Wonder Boy, that derisive nickname the late Dale Earnhardt tagged Jeff Gordon with in 1995 when the fresh-faced Gordon was 23 and seemingly winning every other week on his way to his first Cup championship. Eighteen years later, Gordon now has stripes of gray on the sides of his hair, the paint scheme of a driver in winter, and he's ...
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Did Microsoft stretch the truth in tablet ads
light-hearted TV ads that -- unlike those awful 2008 Jerry Seinfeld spots -- aren't cringeworthy. But in the Windows tablet ads that debuted this week, Microsoft used Siri to badmouth the iPad, and some Apple ...
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BAT Smokes Out E-Cigarette Rivals
British American Tobacco (BAT) is preparing to launch its biggest assault to date on the electronic cigarette market as it attempts to bolster sales of tobacco substitute products. Sky News understands that the world's second-biggest tobacco company by sales is to launch Vype, a new e-cigarette brand, in the UK, France and Germany in the coming months. The launch, which will be backed ...
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UBS France could face criminal investigation source
UBSN.VX ) French unit could be placed under formal investigation in the coming days as part of a broader probe into the Swiss bank's business practices, a person familiar with the matter said on ...
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Ford to retain 1000 jobs at French plant after deal
F.N ) will retain 1,000 jobs at a plant in southwest France after striking a deal on Friday with local authorities to share the burden of new investments needed to keep the factory ...
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Exclusive NY attorney general says more evidence banks violated mortgage pact
NEW YORK (Reuters) - New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing ...
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Monte Paschi might not be an isolated bank case in Italy Chairman
"There could be other cases similar (to the one of Monte dei Paschi)," Profumo said at a conference in Bagnaia, close to Siena, where Monte Paschi is ...
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Deutsche Bundesbank VP Fed Proposals on Foreign Banks Not Helpful for Supervision
Germany's top banking supervisor urged the U.S. to abandon its insistence on forcing big foreign banks to operate through separately capitalized subsidiaries, warning it could trigger a chain reaction in Europe and other jurisdictions that could fragment world financial markets."If one starts with renationalization, others will follow. The danger will increase that everybody makes ...
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Fitch Places Ally Financial on Stable Ratings Outlook Following ResCap Settlement
Fitch Ratings removed Ally Financial Inc. from a negative ratings watch after the government-owned auto lender reached a deal with its Residential Capital mortgage subsidiary and the unit's creditors that will help the company avoid litigation.The ratings firm on Friday also said it affirmed Ally's long-term rating of BB- and said the company's outlook is stable.Ally said Thursday ...
Mexico Feature
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Mexico has more to it than drugs and immigration
As Mexico’s image suffers damage abroad due to increasing levels of violence related to the drug crack-down by government, it may be helpful for Mexicans to remember that there is more to their country than drugs and immigration problems with the US. Some facts may be surprising and even shocking, especially to foreigners.
Mexico has been in the news frequently of late as the government carries out a crack-down on drug cartels and organized crime, the country’s murder rate is up, journalists have been killed for investigative reporting on drug gangs and our image internationally has generally been diminished by the tunnel vision of international news providers. Read more
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