Business News
Auto sales in United States plunge whopping 36 per cent in December
DETROIT - Huge rebates and zero-per cent loans couldn't overcome economic uncertainty as U.S. auto sales plunged 36 per cent in December, capping a dismal year that saw sales free-fall by 2.9 million ...
Citgo suspends low-income heating oil program in the United States
BOSTON - Citgo, the Venezuelan government's Texas-based oil subsidiary, has suspended shipments of heating oil for poor families in the United States, citing falling oil prices and the world economic ...
Cigna to cut about 1,100 jobs, four per cent of work force
INDIANAPOLIS - Managed care provider Cigna Corp. said Monday the slumping economy has forced it to cut roughly 1,100 jobs, as it deals with employer customers who also are making cuts and reducing the...
Automakers' Canadian subsidiaries see weak December sales amid slumping economy
TORONTO - Less than half the vehicles sold in Canada in 2008 were produced by the Detroit Three automakers - a first for the struggling North American auto industry as bleak December sales data capped...
Investors bolted ravaged markets in December, but opportunities could be nearing
TORONTO - Investors cashed out of equity markets en masse in December as stock values crumbled but at least one fund analyst warns they risk missing sudden upswings if their money is on the sidelines ...
Congressmen sound off against Securities and Exchange Commission in Madoff affair
WASHINGTON - Republican and Democratic House members said Monday that the alleged US$50-billion fraud involving Wall Street figure Bernard Madoff reflects deep, systemic problems at the U.S. Securitie...
Enbridge Energy agrees to pay $1.1 million for Wisconsin environmental violations
CALGARY - Enbridge Energy Partners LP (NYSE:EEP) has agreed to pay US$1.1 million for environmental violations related to a crude oil pipeline it is building through Wisconsin - a move an environmenta...
Job losses expected to mount, but silver lining shows in economy's black cloud
OTTAWA - Just as the Canadian and United States economies appear at their weakest in years, many private sector economists say they spot the beginnings of a silver lining peaking through the gloom. ...
Quebec Caisse de depot president Richard Guay hands in resignation
MONTREAL - Richard Guay is stepping down as president of the Caisse de depot et placement du Quebec for personal reasons, the chairman of the giant pension-fund manager said Monday. "The board of d...
Automakers' Cdn subsidiaries post weak December sales amid slumping economy
TORONTO - Last month was the worst December for Canadian car and truck sales in 13 years, with automakers reporting an average 21 per cent decline year over year - a number analysts say could continue...
Taylor Swift was the top-selling music act across all formats in 2008. The 19-year-old singer sold more than 1,597,000 copies of 2007's
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