Suncor Energy Inc. said on Thursday its first-quarter profit rose 23% as oil prices continued to climb. The company reported first-quarter earnings of $708-million ($1.53 a share), compared with $576-million ($1.25) a year ago.
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The Canadian dollar fell against the U.S. dollar on Thursday, as slowing global growth prompted investors to buy the greenback as a safe haven.
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Ford Motor Co., the world’s third- largest automaker, reported a first-quarter profit of US$100-million as benefits from cost cuts made up for falling U.S. sales. Analysts had forecast a loss.
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After a successful test run last winter Sears Canada Inc. will be opening more temporary ‘pop-up’ stores this year in an effort to boost sales.
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Financial Post’s Alia McMullen recaps some of the top business stories on Thursday.
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Forget the fuss about US$100 oil; the liquid gold will be trading twice as high within the next few years as production stalls, Canada’s most aggressive oil forecaster says.
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Wendy’s International Inc., the third-biggest U.S. hamburger chain, agreed to sell itself to billionaire investor Nelson Peltz’s Triarc Cos. for $2.34-billion after seeking a buyer for the past year.
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Credit Suisse notched up a further 5.3-billion Swiss francs (US$5.26-billion) of credit-linked writedowns but its core rich clients kept their money at the bank unlike those of rival UBS.
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The Bank of Canada expects credit conditions to continue to tighten through 2008 as banks pass on increased funding costs, a key reason, along with plunging net exports, it expects the Canadian economy to grow just 0.3% in the second quarter of the year, according to its monetary policy report released Thursday.
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Los Angeles TimesSoaring Food Prices May Prompt Rise in Asia Bond Risk, ING SaysBloomberg - 13 hours ago… will probably rise as rice, wheat, corn and soybean prices remain at records, said Tim Condon, Singapore- based head of Asia research at ING Bank. …Rice crisis blamed on wrong policies Manila BulletinBullit Marquez / Associated Press Los Angeles TimesPhilippine rice prices level off Radio AustraliaWall Street Journal - Grainall 10 news articles
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