K-Lite FM - Business News

AECL aborts development work on MAPLE medical isotope reactors

Fri, 16 May 2008 15:02:54 +0000

MISSISSAUGA, Ont. - Atomic Energy of Canada Ltd. is scrapping development of its two new MAPLE medical-isotope reactors at its Chalk River, Ont., laboratories. The decision "is based on a series of...

U.S. housing posts surprising rebound in April, construction up 8.2 per cent

Fri, 16 May 2008 14:16:58 +0000

WASHINGTON - Construction of new homes in the United States posted the biggest increase in more than two years in April, a rare spot of good news amid the worst downturn in housing in more than two de...

General Electric confirms plans to exit appliance business

Fri, 16 May 2008 14:17:05 +0000

FAIRFIELD, Conn. - General Electric Co. said Friday it plans to sell or spin-off its century-old appliance business. The Fairfield, Conn., industrial conglomerate said in a statement the move is pa...

Commodity stocks power TSX higher as oil hits new record; N.Y. flat

Fri, 16 May 2008 14:16:54 +0000

TORONTO - Oil prices at a new record high helped send the Toronto stock market sharply higher Friday morning. New York stock markets were flat following a better than expected reading on U.S. housi...

Erdene Gold teams with Xstrata on feasibility study of Donkin N.S. coal project

Fri, 16 May 2008 14:16:57 +0000

HALIFAX - Erdene Gold Inc. (TSX:ERD) said Friday that it and Xstrata PLC have committed to funding a feasibility study of an evaluation and development program at the Donkin coal deposit in Cape Breto...

Macy's signs deal to put toy maker FAO Schwarz in its stores

Fri, 16 May 2008 14:16:59 +0000

CINCINNATI - FAO Schwarz will open toy stores in close to 700 Macy's department stores over the next two years, the companies said Friday. About 75 full-size FAO toy stores will open across the cou...

Price of oil climbs more than $3 to record above US$127 a barrel

Fri, 16 May 2008 14:16:56 +0000

Oil prices soared more than US$3 a barrel, surpassing US$127 for the first time Friday and putting more pressure on already lofty gasoline and diesel prices ahead of the summer driving season in the n...

Stock market outlook positive; oil back over US$126 an ounce

Fri, 16 May 2008 13:17:11 +0000

TORONTO - European stock markets and Wall Street index futures were solidly positive Friday morning, maintaining momentum that has left the S&P/TSX composite index are a record level and the U.S. Stan...

Rothmans annual profit up 18 per cent to $117.6M as sales rise eight per cent

Fri, 16 May 2008 13:17:26 +0000

TORONTO - Rothmans Inc. (TSX:ROC) grew its full-year earnings by 18 per cent to $117.6 million as net sales at 60 per cent owned subsidiary Rothmans, Benson & Hedges Inc. rose eight per cent to $670.6...

World economy "teetering on brink" of downturn, UN says

Fri, 16 May 2008 13:17:33 +0000

UNITED NATIONS - The world economy is "teetering on the brink" of a severe downturn and is expected to grow only 1.8 per cent in 2008, the United Nations said in its mid-year economic projections Thur...

Oil back above US$125 after overnight options expiry plays havoc with prices

Fri, 16 May 2008 13:17:20 +0000

Oil prices continued rising Friday after a whipsaw overnight session during which the expiration of options and a mix of news saw trading in a range almost US$6 wide. Light, sweet crude for June de...

Desjardins almost doubles ABCP writedowns with $220M Q1 writedown

Fri, 16 May 2008 13:17:29 +0000

LEVIS, Que. - Desjardins Group has nearly doubled its ABCP charge after taking a $220-million first-quarter writedown of the commercial paper, raising its total to $493 million. The writedown annou...

New motor vehicles record strongest gain since 1998 in first quarter

Fri, 16 May 2008 13:17:43 +0000

OTTAWA - Sales of new motor vehicles closed the first quarter of 2008 with their strongest gain since 1998, despite a slight decline in March. An exceptionally strong January powered a 9.1 per cent...

Japan's economy grows at 3.3 per cent annual pace in first quarter

Fri, 16 May 2008 01:54:40 +0000

TOKYO - Japan's economy grew at a stronger-than-expected 3.3 per cent annual pace in the first quarter, racking up its third consecutive quarter of growth. Japan's gross domestic product - or the v...

Coalcorp ends strategic, seeks to up production amid high coal prices

Fri, 16 May 2008 01:06:56 +0000

TORONTO - Coalcorp Mining Inc. (TSX:CCJ) is no longer trying to sell itself, choosing instead to focus on developing its La Francia project and increasing production to take advantage of high coal pri...