Japan trade surplus tumbles 88.9 per cent in June as imports grew
July 23, 2008 - 7:10 pm
TOKYO - Japan's trade surplus fell 88.9 per cent in June from a year earlier as imports grew amid soaring prices for oil prices and other commodities, the government announced Thursday. The Finance Ministry said the surplus shrank to 138.6 billion yen (US$1.28 billion), marking the fourth ...
Fording Canadian Coal Trust reports Q2 profit of $373M, up from $117M a year ago
July 23, 2008 - 6:39 pm
CALGARY - Fording Canadian Coal Trust (TSX:FDG.UN) said Wednesday it earned a second-quarter profit of $373 million, up from $117 million a year ago, as higher coal prices more than offset strength in the Canadian dollar. However the trust warned costs were trending higher at about $45 per ...
Ainsworth Lumber reports Q2 loss of $34.2M compared with profit a year ago
July 23, 2008 - 6:38 pm
VANCOUVER - Ainsworth Lumber Co. Ltd. (TSX:ANS), which is undergoing a restructuring, said Wednesday it lost $34.2 million in its most recent quarter compared with a profit a year ago as revenue fell nearly 30 per cent. The Vancouver-based forestry company said the loss amounted to $2.33 ...
Armoured vehicles lift General Dynamics second-quarter profit
July 23, 2008 - 5:07 pm
WASHINGTON - Feeding the Pentagon's demand for armoured vehicles helped drive up General Dynamics Corp.'s second-quarter profit by 25 per cent, lifting shares of the defence contractor, which also raised its outlook for the year on Wednesday. General Dynamics' stock jumped nearly seven per ...
PepsiCo second-quarter profit rises nine per cent, helped by snack business
July 23, 2008 - 5:06 pm
NEW YORK - American consumers shying away from bottled water and soft drinks hurt PepsiCo's bottom line, but growth in its international and Frito-Lay snack businesses was strong enough to lead the company to a nine per cent rise in second-quarter profit. PepsiCo, which sells brands such ...
Fraud fears lead WestJet to suspend credit-card check-ins at kiosks
July 23, 2008 - 4:13 pm
TORONTO - Fears of fraud have prompted WestJet (TSX:WJA) to stop letting its passengers use credit cards at self-serve check-in kiosks at airports across the country, the Calgary-based airline announced Wednesday. The move comes amid reports that financial institutions are investigating ...
Husky Energy's Q2 earnings jump 89 per cent to $1.36 billion
July 23, 2008 - 3:54 pm
CALGARY - Husky Energy Inc.'s (TSX:HSE) second-quarter earnings rose 89 per cent to $1.36 billion on higher sales and strong commodity prices. The Calgary-based energy company said its earnings amounted to $1.61 per share and compared to $721 million or 85 cents in the same period last ...
Teck Cominco posts Q2 profit of $497M on strong copper and coal sales
July 23, 2008 - 3:47 pm
VANCOUVER - Teck Cominco Ltd. (TSX:TCK.B) reported net earnings of $497 million in the second quarter, up from $485 million last year on strong copper and coal sales. The Vancouver-based miner said the earnings amounted to $1.12 per share and included negative after-tax pricing adjustments ...
Gasoline powers inflation rate to 3.1 per cent in June; core prices dormant
July 23, 2008 - 3:15 pm
OTTAWA - Living in Canada got a lot more expensive last month as the accelerating price of gasoline and the emergence of food inflation pushed the rate of increase in Canada's consumer price index to over three per cent for the first time in nearly three years. Statistics Canada said ...
Beer maker Anheuser-Busch second-quarter profit rises 1.8 per cent
July 23, 2008 - 2:35 pm
MILWAUKEE - Anheuser-Busch Cos. Inc. managed to turn a profit in the most recent quarter - despite fears that rising costs for ingredients and fuel would cut into the King Of Beers' bottom line. But the St. Louis-based brewer, the largest in the United States, said Wednesday that it has to ...
Canadian companies rank lowest in global study of forestry/paper profits
July 23, 2008 - 2:35 pm
VANCOUVER - Canadian forest and paper producers had the lowest returns in 2007 compared to their worldwide peers, reflecting the sector's current "financial crisis," a new report shows. The PricewaterhouseCoopers annual survey of the world's 100 largest forest, paper and fibre-based ...
Mecachrome International to lay off 41 workers in Canada, 150 in France
July 23, 2008 - 2:34 pm
MONTREAL - Aircraft and automotive parts manufacturer Mecachrome International (TSX:MCH) is cutting 41 jobs in Canada and shifting some production from France as it tries to adjust to lower demand for its aerospace and Formula 1 products. The Montreal-based company said Wednesday that the ...
Precision Drilling eagerly awaiting outcome of Grey Wolf strategic review
July 23, 2008 - 1:46 pm
CALGARY - Precision Drilling Trust's (TSX:PD.UN) is eagerly awaiting the outcome of a strategic review by Grey Wolf Inc. (AMEX:GW), the U.S. driller it has been focused on acquiring as a means to expand in the United States. Houston-based Grey Wolf said earlier this month it would be ...
Tumbling oil, metals stocks send TSX down;lower crude lifts NY
July 23, 2008 - 1:44 pm
TORONTO - The Toronto stock market moved lower Wednesday as the latest tumble in oil prices encouraged a further selloff in energy companies. Fears of lower demand for commodities as a result of slower American economic growth also hit metals stocks, but TSX losses were contained by a ...
112 billion barrels of oil equivalent to be found in North America's Arctic: report
July 23, 2008 - 1:34 pm
A new study suggests the equivalent of 112 billion barrels of oil lies undiscovered underneath the sea ice and frigid waters of North America's Arctic, adding new urgency to the debate over control of those resources. The report released Wednesday by the United States Geological Survey has ...
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