Finance News

Terra Industries Tells Yara That CF Bid Is Superior - BusinessWeek (Wed, 10 Mar 2010)
Terra Industries Tells Yara That CF Bid Is Superior BusinessWeek March 10 (Bloomberg) -- Terra Industries Inc., the target of a bidding war, told suitor Yara International ASA that an offer of $4.68 billion from fertilizer producer CF Industries Holdings Inc. is superior and asked ... Fertilizer War Shocker: Terra Takes CF BidTheStreet.com Terra Picks CF Buyout Bid Over Previous Yara DealABC News Terra Provides Notice To Yara As Per Yara Deal - Quick FactsRTT News NASDAQ -MarketWatch (press release) -Capital.gr (press release) all 44 news articles »
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American Eagle 4Q Profit Jumps 81%, Outlook Sunny; Shares Up - Wall Street Journal (Wed, 10 Mar 2010)
Pittsburgh Post Gazette American Eagle 4Q Profit Jumps 81%, Outlook Sunny; Shares Up Wall Street Journal American Eagle Outfitters Inc.'s (AEO) fiscal fourth-quarter earnings surged 81% as both sales and margins improved, and the teen and young-adult retailer gave a generally sunny outlook for the current quarter. Shares were up 4.6% at $17.94 premarket. ... American Eagle profit up, outlook strongReuters Ahead of the Bell: American Eagle closes brandBusinessWeek American Eagle Outfitters earnings higherMarketWatch TheStreet.com -123Jump.com -Pittsburgh Business Times all 176 news articles »
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OPEC raises 2010 oil demand forecast - The Associated Press (Wed, 10 Mar 2010)
France24 OPEC raises 2010 oil demand forecast The Associated Press CAIRO — World oil demand is projected to grow by 900000 barrels per day in 2010, OPEC said Wednesday, revising up its previous month's forecast while cautioning that the increase is hinged on a sustained global economic rebound, particularly in the ... OPEC Raises Forecast for Oil Demand on Lower NGL EstimateBusinessWeek OPEC raises world oil demand forecast for 2010MarketWatch OPEC Forced To Hike Oil Demand Forecasts Due To A Global Recovery SurpriseThe Business Insider RTT News -Market News International -NASDAQ all 159 news articles »
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Germany: EMF Would Be Last Resort For A Euro-Zone Country - Wall Street Journal (Wed, 10 Mar 2010)
Globe and Mail Germany: EMF Would Be Last Resort For A Euro-Zone Country Wall Street Journal BERLIN (Dow Jones)--A European Monetary Fund would be an instrument of last resort in order to arrange a "reasonable" insolvency of a euro-zone country, and its creation would strengthen, rather than weaken, the European Union's Stability and Growth ... FACTBOX-Key political risks to watch in GreeceReuters Germany's eurozone crisis nightmareFinancial Times Viewpoint: Talk of an EMF sounds like euro-manoeuvringThe Guardian AFP -New York Times -Bloomberg all 1,174 news articles »
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BofA to scrap overdraft fees on debit purchases - CNNMoney.com (Wed, 10 Mar 2010)
Reuters BofA to scrap overdraft fees on debit purchases CNNMoney.com NEW YORK (CNNMoney.com) -- Bank of America said Wednesday that it plans to ditch overdraft fees on debit card purchases this summer. The Federal Reserve recently announced new requirements that ... Bank of America to End Overdraft Fees on Debit CardsBusinessWeek BofA ending debit-card overdraft feesBizjournals.com B. of A. to end debit overdraft fee:reportsMarketWatch Worcester Telegram -UPI.com -New York Times all 378 news articles »
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Airlines offer to give up slots - BBC News (Wed, 10 Mar 2010)
BBC News Airlines offer to give up slots BBC News British Airways, American Airlines and Iberia have offered to give up slots at airports in London and New York, say regulators at the European Commission. The three Oneworld alliance members will be hoping this draws to a close the EC's investigation ... EU Signals Approval for Larger Airline AllianceNew York Times BA, American Offer to Give Up Slots in EU SettlementBusinessWeek BA, American, Iberia Offer To Lease 4 Takeoff, Landing SlotsWall Street Journal The Associated Press -Reuters -MarketWatch all 180 news articles »
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Collective Brands, J. Crew, Facet Biotech, Navistar, Ness - MarketWatch (Wed, 10 Mar 2010)
RTT News Collective Brands, J. Crew, Facet Biotech, Navistar, Ness MarketWatch By MarketWatch TEL AVIV (MarketWatch) -- Among the companies whose shares are expected to see active trade in Wednesday's session are Abbott Labs, American Eagle, Children's Place, Collective Brands, J. Crew, Facet Biotech, Navistar and Ness. ... Abbot Labs to Acquire Facet BiotechBloggingStocks (blog) Abbott to buy Facet for $27/shr, topping Biogen bidReuters Stocks in the News: Facet Biotech, InterMune, American EagleDailyFinance Wall Street Journal -Barron&os;s (blog) -BusinessWeek all 342 news articles »
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Barclays Faces 'Reluctant' Investors for Possible US Purchase - BusinessWeek (Wed, 10 Mar 2010)
Reuters Barclays Faces 'Reluctant' Investors for Possible US Purchase BusinessWeek March 10 (Bloomberg) -- Barclays Plc, Britain's second- largest bank, may struggle to convince investors and regulators if it wants to add a US consumer unit to its North American investment bank, according to shareholders. ... Barclays shares dip on US bank buy reportsReuters Barclays Seen on Lookout for US Bank DealABC News Barclays eyes large US bank dealFinancial Times The Guardian -Wall Street Journal -TheStreet.com all 93 news articles »
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US Futures Search for Direction - Wall Street Journal (Wed, 10 Mar 2010)
Washington Post US Futures Search for Direction Wall Street Journal US stock futures held to a tight range Wednesday, tracking listless overseas trading, with little to focus on outside of a smattering of wholesale inventory data due later. More than two hours before the start of trading, ... Stocks leaning toward gainsCNNMoney.com Futures, in Quiet Session, Trade in Tight RangeFOXBusiness US Stocks Advance on Anniversary of 2009 Bear-Market LowBusinessWeek CNBC -Reuters -MarketWatch all 1,310 news articles »
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Prius Tale Prompts New Probe - Wall Street Journal (Wed, 10 Mar 2010)
CBC.ca Prius Tale Prompts New Probe Wall Street Journal Toyota Motor Corp. and federal investigators probed the latest report of sudden acceleration Tuesday, a dramatic incident on a California highway that ricocheted around the Internet. A California man called 911 for ... Runaway Toyotas: Listen to the 911 Tape in 94 MPH San Diego IncidentABC News California Prius incident probed; GM offers criticizedDetroit Free Press Runaway Prius driver: Brakes were 'almost burned'The Associated Press New York Times -MarketWatch -New York Post all 2,404 news articles »
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China World Cup mascot factory defends itself (Wed, 10 Mar 2010)
AFP - SHANGHAI (AFP) - A Chinese factory ordered to stop producing mascots for the World Cup due to allegations of sweatshop conditions defended itself Wednesday, saying its facilities were among the best in China.

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China exports rebound extends into February (Wed, 10 Mar 2010)
AFP - BEIJING (AFP) - China said Wednesday that exports soared for the third straight month in February and at their fastest pace in three years, which analysts said could leave Beijing more open to a stronger yuan.

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AIG devises new formula for employee bonuses: report (Wed, 10 Mar 2010)
Reuters - (Reuters) - American International Group Inc has formulated a new "forced ranking" system to determine bonuses and rate employee performance, Wall Street Journal said, citing people familiar with the matter.

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Oil edges up towards $82 on China import surge (Wed, 10 Mar 2010)
Reuters - SINGAPORE (Reuters) - Oil reversed earlier losses to gain a few cents toward $82 on Wednesday after China said imports jumped in February, boosting evidence that emerging Asian economies will lead global demand back into growth this year.

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East Africa new frontier for oil exploration (Wed, 10 Mar 2010)
AFP - HOUSTON, Texas (AFP) - East Africa has become a promising new frontier for oil exploration and major multinationals are jostling for the rights to search for black gold, industry experts said.

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China's February exports jump 45.7 per cent in sign of growing global demand (Wed, 10 Mar 2010)
The Canadian Press - BEIJING - China's exports grew strongly in February in a new sign of a rebound in global demand, government figures showed Wednesday.

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China exports, trade surplus figures announced (Wed, 10 Mar 2010)
AFP - BEIJING (AFP) - China said Wednesday its exports in February soared for the third straight month and at the fastest pace in three years, underlining the nation's position as the world's leading exporter.

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'IMF' for Europe a distracting sideshow: experts (Wed, 10 Mar 2010)
AFP - FRANKFURT (AFP) - Talk of a European version of the International Monetary Fund to rescue errant EU states is little more than a distracting sideshow, analysts and a key central banker say.

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Asian stocks near 6-week highs, cool to China data (Wed, 10 Mar 2010)
Reuters - HONG KONG (Reuters) - Asian stocks hovered near six-week highs on Wednesday as Chinese data showed exports and imports in February were better than expected, while the euro and the pound suffered on renewed concerns about Europe's fiscal problems.

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Soaring China property prices raise worries over bubble, leave many unable to buy own homes (Wed, 10 Mar 2010)
The Canadian Press - SHANGHAI, China - The luxury apartment buildings Yang Xuhua passes on her way to work are a daily reminder of her own frustrated efforts to buy a home. Prices for even modest apartments in Shanghai have soared, putting home purchases out of reach for white collar workers and professionals.

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Oil slips for 2nd day as U.S. crude inventories climb (Wed, 10 Mar 2010)
Reuters - SINGAPORE (Reuters) - Oil fell for a second day on Wednesday after an industry report showed U.S. crude stockpiles jumped more than expected last week, dampening hopes of a strong recovery of demand in the world's top user.

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SpaceX aborts rocket engine test (Wed, 10 Mar 2010)
Reuters - CAPE CANAVERAL, Florida (Reuters) - Space Exploration Technologies aborted a test firing of its Falcon 9 rocket on Tuesday, in what was to be a key milestone in its quest to fly cargo -- and eventually astronauts -- to the International Space Station.

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Federal investigators sent to determine cause of reportedly runaway Prius (Wed, 10 Mar 2010)
The Canadian Press - EL CAJON, Calif. - The government sent investigators Tuesday to examine a Prius that sped out of control on a California freeway, and Toyota said it wanted to interview the driver as the besieged automaker dealt with a high-profile new headache that raised questions about the safety of its beloved hybrid.

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Toyota says it will expand recall of Tundra pickups to address frame rust issue (Wed, 10 Mar 2010)
The Canadian Press - WASHINGTON - Toyota said Tuesday it will expand a recall announced last year to fix Tundra pickup trucks with frames that could rust and lead to spare tires falling from the vehicle.

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Union ratifies labor deal with Canfor, company says (Wed, 10 Mar 2010)
Reuters - VANCOUVER (Reuters) - Unions have ratified a contract at Canada's No. 2 lumber producer Canfor Corp , that the company said offered relief from pressing economic problems.

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Japan machinery orders fall 3.7 percent in January (Wed, 10 Mar 2010)
AFP - TOKYO (AFP) - Japan's core private-sector machinery orders, a leading indicator of corporate capital spending, fell 3.7 percent in January from the previous month, official data showed Wednesday.

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Papandreou: positive reaction from Obama to European push for crackdown on speculators (Wed, 10 Mar 2010)
The Canadian Press - WASHINGTON - Greek Prime Minister George Papandreou said following a White House meeting Tuesday that President Barack Obama reacted positively to European ideas about cracking down on currency speculation.

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Alberta royalty changes to be released Thursday in response to review (Wed, 10 Mar 2010)
The Canadian Press - EDMONTON - Changes to energy royalties in Alberta are to be announced Thursday with the release of a report on the industry's competitiveness.

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Automodular: GM demanding it cut prices 50 per cent at Oshawa plant (Wed, 10 Mar 2010)
The Canadian Press - AJAX, Ont. - General Motors is reportedly demanding that sub-assembly contractor Automodular Corp. cut its prices in half at GM's Oshawa, Ont., car plant or risk losing its contract.

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Amazon's potential Canadian move could be precedent setting for foreign owners (Wed, 10 Mar 2010)
The Canadian Press - TORONTO - A decision to allow Amazon.com Inc. to open a distribution centre in Canada would set a precedent for changes to Canadian foreign ownership rules, the Canadian Booksellers' Association says.

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Harper government survives first budget vote in Parliament (Tue, 09 Mar 2010)
The Canadian Press - OTTAWA - Stephen Harper's minority Conservative government has survived its first confidence test of the new session of Parliament.

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Scotiabank profit rises 17 percent (Tue, 09 Mar 2010)
Reuters - TORONTO (Reuters) - Bank of Nova Scotia posted a 17 percent surge in quarterly profit on Tuesday, capping a stronger than expected earnings season for Canadian banks, but its shares fell as investors locked in profits after two weeks of gains.

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Air Canada takes aim at Emirates' expansion plans (Tue, 09 Mar 2010)
Reuters - VANCOUVER (Reuters) - The chief executive of Air Canada accused Emirates airline on Tuesday of wanting to "flood" Canadian skies with airline seats so it can scoop up travelers and divert them through Dubai.

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Couche-Tard earnings fall to $54.8 million from $71.1 million in latest quarter (Tue, 09 Mar 2010)
The Canadian Press - MONTREAL - Convenience store operator Alimentation Couche-Tard Inc. boosted its quarterly dividend in a show of confidence in its future prospects even though its profits fell in its third quarter.

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Canadian firms come under fire for failing to government money and investing (Tue, 09 Mar 2010)
The Canadian Press - OTTAWA - The timid and cautious nature of Canadian business - not government policies or high taxes - is likely to blame for the country's woeful productivity record, analysts say.

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Federal budget survives first vote in Parliament (Tue, 09 Mar 2010)
The Canadian Press - OTTAWA - The Harper government's budget has survived its first test.

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Wind Mobile a 'cautionary tale' for other new cellphone players to enter market (Tue, 09 Mar 2010)
The Canadian Press - MONTREAL - Wind Mobile launched its new Canadian wireless business before it was ready and hasn't been able to attract significant customers, a "cautionary tale" for other new cellphone players, a report says.

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Banks, commodity stocks lead TSX lower even as Scotiabank reports solid earnings (Tue, 09 Mar 2010)
The Canadian Press - TORONTO - Commodity and financial stocks pushed the Toronto stock market lower Tuesday as oil and gold prices fell and Scotiabank failed to encourage buyers even as its latest earnings beat expectations.

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Boeing to decide on 777 production ramp-up soon (Tue, 09 Mar 2010)
AFP - NEW YORK (AFP) - US aerospace giant Boeing said Tuesday it will decide whether to ramp up production on its 777 planes next month amid expectations of new orders for the twin-aisle airliner in the "near term."

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Crude slides back as stronger U.S. dollar and demand concerns reverse gains (Tue, 09 Mar 2010)
The Canadian Press - NEW YORK - Oil prices trimmed some early losses, but still ended lower Tuesday, after rising steadily since the end of last week.

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World Color CEO defends Quad/Graphics deal as best way to thrive again (Tue, 09 Mar 2010)
The Canadian Press - MONTREAL - World Color Press' merger with Quad/Graphics is the Montreal-based printer's best opportunity to thrive again, the company's CEO said Tuesday.

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Canada's five biggest banks earn combined $5.09 billion in first quarter (Tue, 09 Mar 2010)
The Canadian Press - TORONTO - Canada's five biggest banks saw their profits soar by nearly two-thirds in the latest quarter ended Jan. 31. Some facts:

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Gov't to decide if Amazon investment will "be of net benefit to Canada" (Tue, 09 Mar 2010)
The Canadian Press - TORONTO - A Canadian Heritage spokesman says the government has ordered a review of Amazon's proposed plans to open a Canadian distribution centre to determine if the investment "will be of net benefit to Canada."

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Federal budget child-care tax break causes new headache for feds (Tue, 09 Mar 2010)
The Canadian Press - OTTAWA - The federal budget's key anti-poverty measure cures one headache and causes another.

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Barrick optimistic on Reko Diq, price (Tue, 09 Mar 2010)
Reuters - NEW YORK (Reuters) - Barrick Gold Chief Executive Aaron Regent is optimistic the company can reach an agreement to develop the massive Reko Diq gold-copper project in Pakistan, he said on Tuesday.

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SunOpta posts narrower Q4 loss (Tue, 09 Mar 2010)
Reuters - (Reuters) - SunOpta Inc , a Canadian company focusing on organic foods and natural health products, posted a narrower quarterly loss, helped by improved margins and operating performances.

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TSX ends lower as resources, banks retreat (Tue, 09 Mar 2010)
Reuters - TORONTO (Reuters) - Toronto's main stock index fell for a second straight session on Tuesday as weaker oil and gold prices pulled resource issues lower and most bank stocks dropped amid profit-taking.

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CRTC probing Mobilicity ownership (Tue, 09 Mar 2010)
CBC - The CRTC is reviewing the structure of Mobilicity, the fledgling cellphone provider formerly known as DAVE Wireless, to see whether it meets Canadian-ownership rules.

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Cisco unveils system for super-fast Internet (Tue, 09 Mar 2010)
AFP - SAN FRANCISCO (AFP) - Cisco Systems on Tuesday unveiled super-fast Internet hardware that promises to boost US competitiveness and bolster economic recovery by moving mountains of data at astounding speeds.

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