April 22, 2008
Bank regulator says has no role in ABCP
Canada’s banking regulator said on Tuesday it has no role in the country’s $32-billion frozen asset-backed commercial paper market.
Read full story
Magna International Inc. said it signed a deal to buy an auto parts plant in Alabama from Japanese supplier Ogihara Corp., stretching its presence in the U.S. southeast where a growing share of North American auto manufacturing is being done.
Read full story
The Canadian dollar rallied from an early trough Tuesday, thanks to record high oil prices and a weaker U.S. dollar, but it was not enough to erase the slide recorded after the Bank of Canada cut interest rates.
Read full story
Paper-recycling rates in Canada hit 58 per cent last year, an improvement of one-third over the level of 2002, the Forest Products Association of Canada said Monday.
Read full story
John Lau says his company is “actively looking†for a major acquisition or merger worth as much as $15-billion as part of its goal to become a global company and diversify away from Alberta.
Read full story
As expected, the Bank of Canada cut its benchmark interest rate by 50 basis points to 3% on Tuesday.
The central bank said it “is now projecting a deeper and more protracted slowdown in the U.S. economy.” Economic weakness south of the border will have direct consequences for Canada, the bank said, with declining exports likely to weigh heavily on economic growth.
Read full story
Toronto’s main stock market index fell on Tuesday as disappointing results from a string of Canadian blue chip companies and cautious words from the Bank of Canada offset firm commodity prices.
Read full story
Light crude surged more than US$2 to record highs near US$120 a barrel on Tuesday on supply concerns from Nigeria and the North Sea.
Read full story
The Internet search engine posted quarterly profit, excluding one-time items, at the top end of Wall Street’s range of lowered forecasts, as it sought to bolster its case that Microsoft Corp’s takeover bid undervalues it.
Read full story
Asia limits rice exports as prices and uncertainty riseChristian Science Monitor, MA - Apr 21, 2008By David Montero | Correspondent Asia, home to many of the world's top rice suppliers, accounts for 76 percent of the 30 million tons of the staple food …
Read full story