Northgate Minerals board gives green light to Young-Davidson mine in Ontario
February 08, 2010 - 5:29 pm
VANCOUVER, B.C. - The board of Northgate Minerals Corp. (TSX:NGX) has given formal approval to start development of the company's US$339-million Young-Davidson mine, the company said Monday. The project is expected to create 600 jobs during the two-year construction phase and 275 jobs ...
No word on Prius recall; analysts say Toyota risks further damage to reputation
February 08, 2010 - 4:38 pm
TOKYO - A week after brake problems surfaced with its Prius, Toyota still has yet to say whether it will recall the popular hybrid - and analysts say further delays could be devastating to the automaker's already damaged reputation. A recall would cover as many as 300,000 cars for this ...
EA loses less money but its outlook is below forecasts, sending stock down
February 08, 2010 - 4:35 pm
NEW YORK - A disappointing outlook from Electronic Arts Inc. sent shares of the video game publisher sharply lower Monday, a sign that significant cost-cuts and layoffs have not ended the company's slump. The company, whose games include the popular "Madden" series and "Mass Effect 2," ...
Chrysler says it will invest $550 million to build Fiat 500 at Mexican assembly plant
February 08, 2010 - 4:24 pm
MEXICO CITY - Chrysler Group LLC says it will invest $550 million to build the Fiat 500 minicar at its assembly plant near Mexico City. Chrysler CEO Sergio Marchionne says the new work at its Toluca plant will create 400 jobs. He said Monday the company will begin making the model in ...
Real-estate association's rules challenged by federal competition watchdog
February 08, 2010 - 4:08 pm
TORONTO - Home buyers and sellers may soon be able to choose "a la carte" services from real estate agents if the Canadian Real Estate Association is forced to change its pricing structure, but the association says that's always been the case. Canada's Competition Bureau filed an ...
Tech Resources reports $411 million Q4 profit, revenue up from year ago
February 08, 2010 - 4:06 pm
VANCOUVER, B.C. - Teck Resources Ltd. (TSX:TCK.B) said Monday it earned $411 million in its latest quarter as revenue increased 35 per cent compared with a year ago, helped by sharply higher copper and zinc revenue, offset by lower coal prices. The mining company said its profit amounted ...
Ontario government to launch $1.6M ad campaign on tax changes, including HST
February 08, 2010 - 3:42 pm
OTTAWA - Ontario's controversial move to harmonize sales taxes will be part of a new $1.6-million government ad campaign that's poised to hit newsstands on Thursday. The print ads, which highlight an income tax cut that took effect Jan. 1, will invite readers to "take a closer look at ...
Canadian potash partnership announces spot sale to China's Sinofert
February 08, 2010 - 3:18 pm
CALGARY - A partnership representing Saskatchewan's three main fertilizer producers has agreed to sell 350,000 tonnes of potash to a Chinese buyer at what it described only as "competitive" spot prices. The announcement Monday comes about a month after Vancouver-based Canpotex Ltd. and its ...
Royal Bank CEO Nixon paid $10.4M in 2009, up 19 per cent from 2008
February 08, 2010 - 3:17 pm
TORONTO - The chief executive of Royal Bank of Canada (TSX:RY) earned 19 per cent more in 2009 than a year earlier, even as the annual profit of Canada's largest bank fell 15 per cent. RBC's annual disclosure shows CEO Gord Nixon's base salary was unchanged at $1.4 million and he received ...
Husky Energy announces third significant gas discovery in South China Sea
February 08, 2010 - 3:14 pm
CALGARY - Husky Energy Inc. (TSX:HSE) has announced its third significant discovery in the South China Sea. An exploration well in the waters south of Hong Kong tested natural gas at an equipment restricted rate of 57 million cubic feet per day, with indications the Liuhua 29-1 well could ...
It's still a seller's market in housing but it's not a bubble, economists say
February 08, 2010 - 3:08 pm
MONTREAL - It's still a seller's market for homeowners, but economists say it's not a real estate "bubble." Canada's housing market is on the rebound after a decline in 2009 with resales expected to set a new annual record this year and home building is off to a strong start, according to ...
Chinese train company says its Montreal Metro bid would save taxpayers billions
February 08, 2010 - 3:03 pm
MONTREAL - A Chinese railway manufacturer says it can save Quebec taxpayers billions of dollars and create up to 1,000 jobs in the city if it beats out a Bombardier-Alstom consortium for the contract to build new subway cars for Montreal's Metro system.Zhuzhou Electric Locomotive said Monday it ...
Xstrata full-year profit falls 41 per cent as downturn hits commodity prices
February 08, 2010 - 2:23 pm
Swiss miner Xstrata PLC reported a 41 per cent drop in full-year profits Monday and came under pressure from Canada's largest industrial union for the base metals giant's plans to close a smelter in northeastern Ontario. The company reported its profit fell to US$2.77 billion from $4.7 ...
Worries about sovereign debt, global economic recovery push stock markets lower
February 08, 2010 - 2:21 pm
TORONTO - The Toronto stock market closed lower Monday as investors continued to take profits from the strong rally of 2009 amid worries about the strength of the global economic recovery and sovereign debt issues in Europe. The S&P/TSX composite index lost 107.82 points to 11,115.3, ...
Biggest Boeing plane ever takes to the sky, first flight for 747-8 freighter
February 08, 2010 - 2:20 pm
EVERETT, Wash. - Boeing Co.'s giant 747-8 freighter - the biggest plane the company has ever built - took off on its first flight Monday, a year later than originally planned. The huge plane took off from Everett's Paine Field after a weather delay. It was to return to the airport after a ...
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