Business News
Rupert Murdoch's News Corp. withdraws bid to buy N.Y. newspaper Newsday
NEW YORK - A spokeswoman for Rupert Murdoch's News Corp. says the media conglomerate has withdrawn its bid to purchase Newsday. The decision to revoke the offer comes just days after Murdoch confid...
Oregon's Pope & Talbot shuts doors
PORTLAND, Ore. - Pope & Talbot Inc., has shut its doors after a Delaware court ordered the bankrupt timber company to turn its mills over to a court-appointed trustee for liquidation. The court rul...
Aircraft maker Boeing and machinists union open contract negotiations
SEATTLE - Boeing Co. and Machinists union representatives met Friday to open contract talks, exchanging proposals on pay, pensions, health care and other issues. Boeing's three-year contract with t...
TSX stalls even as oil prices hit new highs;AIG losses, high crude send NY down
TORONTO - The Toronto stock market closed lower Friday as energy stocks failed to respond to another runup in crude prices to another record breaking high, while oil prices along with a huge loss at i...
Power Corporation of Canada raising dividend despite lower investment gains
MONTREAL - Power Corporation of Canada (TSX:POW) raised its quarterly dividend by 20 per cent Friday as the holding company reported higher net income despite lower investment gains. The dividend o...
MDA has no plans to try to sell space division again, CEO says
VANCOUVER - The CEO of MacDonald Dettwiler and Associates Ltd. (TSX:MDA) said he has no plans to try and resell the space division after its potential sale to an American defence firm was officially k...
Shipping company FedEx cuts Q4 profit forecast, blames fuel costs
MEMPHIS, Tenn. - FedEx Corp. cut its fourth-quarter earnings expectations Friday, blaming continuing increases in fuel costs. The Memphis-based shipping company said it expects profits of US$1.45 t...
Tax fears prompt Aeroplan Income Fund to convert to a growth-oriented corporation
MONTREAL - Aeroplan Income Fund (TSX:AER.UN) plans to reorganize into a dividend-paying public corporation largely over concerns that it will soon lose its tax-free status by exceeding foreign ownersh...
Air Canada quietly adds fuel surcharges to Canadian flights
MONTREAL - The cost of air travel for many Canadians surged Friday after Air Canada (TSX:AC.A) quietly imposed domestic fuel charges for the first time in four years that could, for example, add an ex...
Soaring fuel prices likely to delay sale of Air Canada, says Milton
MONTREAL - Soaring fuel prices that have battered airline valuations will likely delay the sale of ACE Aviation Holdings majority stake in Air Canada (TSX:AC.A), says Robert Milton, the chairman and c...
Lottery results for Sat, May 10
