Business

Alberta giving biofuels a $239M boost

MARKUS ERMISCH Edmonton Sun 12.12.2008
Alberta giving biofuels a $239M boost

CALGARY -- Alberta will implement renewable fuel standards as part of a provincial energy strategy, the government introduced yesterday. Premier Ed Stelmach used the occasion to once again press Ottawa for an agreement about emission targets and a...

Big Canadian banks keep slice of deep rate cut

Ann Perry Rita Trichur Toronto Star 10.12.2008
Big Canadian banks keep slice of deep rate cut

The Bank of Canada slashed its key interest rate yesterday by three-quarters of a percentage point to the lowest level in half a century and confirmed Canada's economy is "entering a recession" because of the deepening global economic slump.


Stimulus coming in January budget: Flaherty

Paul Vieira Financial Post 04.12.2008
Stimulus coming in January budget: Flaherty

OTTAWA -- The Finance Minister, Jim Flaherty, said Wednesday night there would be additional fiscal stimuli in the government's Jan. 27 budget because economic conditions are "deteriorating."

Latin American workers win $2.4-million award

Kelly Sinoski Vancouver Sun 04.12.2008
Latin American workers win $2.4-million award

Foreign workers who complained of substandard pay and housing while working on the Canada Line have won a $2.4-million discrimination award against their employers. However, it is not clear that they will be able to collect.


CTV plans layoffs, cuts as it braces for slump

GRANT ROBERTSON The Globe and Mail 19.11.2008
CTV plans layoffs, cuts as it braces for slump

A week after its biggest rival announced layoffs, CTV Inc. is preparing to cut costs across its network by chopping discretionary expenses, imposing a hiring freeze and eliminating jobs.

Alberta trims $6.5-billion from surplus

NORVAL SCOTT The Globe and Mail 19.11.2008
Alberta trims $6.5-billion from surplus

CALGARY -- Teflon-coated Alberta, long protected from the global economic downturn by its oil and gas wealth, is now feeling the full force of the world's financial panic.


Throne speech to focus on the troubled economy

Governor General Michaelle Jean is set to deliver the speech from the throne this afternoon, a document that will outline the federal government's plan for the coming year.

Debt-laden CanWest writes off $1 billion

Broadcaster and newspaper owner Canwest Global Communications saw its operating profit increase by 13 per cent to $558 million in the last fiscal year, but it still posted a net loss of $1.04 billion, including a $1.01 billion write-down of goodwi...


Record costs threaten Canada's picture of health

LISA PRIEST The Globe and Mail 14.11.2008
Record costs threaten Canada's picture of health

Canada's health-care spending is expected to reach its highest level ever - $171.9-billion this year, or $5,170 per person - growing faster than the economy and outpacing inflation and population growth, new figures show.

Government assets could be sold to balance budget, Flaherty says

Andrew Mayeda, Eric Beauchesne Ottawa Citizen 14.11.2008
Government assets could be sold to balance budget, Flaherty says

WINNIPEG - The Harper government is considering selling real estate and other Crown assets to help keep the budget balanced as the economy worsens. Finance Minister Jim Flaherty, at the Conservative party policy convention here, made it clear that...


CanWest cuts 560 jobs, five per cent of workforce, in financial streamlining

TORONTO — Cost pressures and plunging share prices prompted Canadian publisher and broadcaster CanWest Global Communications Corp. (TSX:CGS) to cut 560 jobs - about five per cent of its workforce - Wednesday as the company faces a rougher economy ...

CPP sanguine despite loss of $10 billion

James Daw Toronto Star 13.11.2008
CPP sanguine despite loss of $10 billion

The Canada Pension Plan lost $10.3 billion during the early weeks of the worst global stock market crash in generations. John Denison, president of the CPP Investment Board, acknowledges more of Canadians' retirement savings have evaporated since ...


Ottawa bows to banks to keep credit flowing

RICHARD BLACKWELL AND TARA PERKINS The Globe and Mail 13.11.2008
Ottawa bows to banks to keep credit flowing

Pressure from Canada's big banks pushed the Harper government yesterday to overhaul the terms of financial assistance programs it recently designed to keep credit flowing through the Canadian economy.

Harper, first ministers to discuss economic crisis

OTTAWA -- The prime minister meets today with his provincial and territorial counterparts to talk about the global economic crisis.


Flaherty favours aid for long-term auto plans

HEATHER SCOFFIELD AND GREG KEENAN The Globe and Mail 10.11.2008
Flaherty favours aid for long-term auto plans

SAO PAULO, BRAZIL; TORONTO -- Ottawa is willing to go to the aid of teetering auto companies, but will consider help only for plants that are thought to be "sustainable," Finance Minister Jim Flaherty said yesterday.

Nortel sets sweeping cost cuts, posts big loss

TORONTO (Reuters) - Nortel Networks Corp reported a large quarterly loss and announced a round of sweeping cost-cutting on Monday, from laying off 1,300 people to freezing salary increases and cutting back on consultants, as the economic downturn ...


PM pledges more aid for banks

RITA TRICHUR Toronto Star 07.11.2008
PM pledges more aid for banks

The federal government is planning to provide more help to Canadian banks because they continue to cope with unfavourable credit conditions, Prime Minister Stephen Harper said yesterday.

Canadian Natural Resources slashes budget

MARKUS ERMISCH Canoe.ca 07.11.2008
Canadian Natural Resources slashes budget

High construction costs and low commodity prices have forced Canadian Natural Resources Ltd. to not just trim, but slash, its capital budget for next year. Meanwhile, the cost of the most expensive capital project in the company's history, the Hor...


Electricity bills to rise in Nova Scotia

Nova Scotia consumers will pay just over 9 per cent more for electricity January 1 as the province's price regulator acknowledged yesterday that long-range energy costs are destined to stay high.

CRTC will have to revisit financial model for Canadian broadcasters

The Canadian Radio-Television and Telecommunications Commission will need to revisit the current financial model for conventional television broadcasters in Canada, given the magnitude of the pressures they are facing, says Scotia Capital analyst ...



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