CJDC-TV - Business News

Oil falls below $53 on fears of deep recession

Thu, 20 Nov 2008 04:50:16 +0000

SINGAPORE - Oil prices fell below $53 to almost a two-year low Thursday in Asia as investors, egged on by plummeting stock markets, priced in lower crude demand from a global economic downturn that's ...

Asian stock markets tumble after Wall Street rout

Thu, 20 Nov 2008 04:28:32 +0000

HONG KONG - Asian stock markets tumbled Thursday, with Japan's main index losing nearly five per cent, after fears of a protracted recession sent Wall Street plunging to it lowest point in five years....

Isuzu to shed 1,400 contract workers this year as it reacts to global meltdown

Thu, 20 Nov 2008 04:10:39 +0000

TOKYO - Isuzu Motors Ltd. will shed all temporary and part-time manufacturing workers, the latest of Japan's automakers to scale back production as overseas demand fades. The elimination of the 1,4...

International Monetary Fund finally approves US$2.1B loan to Iceland

Thu, 20 Nov 2008 03:07:05 +0000

WASHINGTON - The International Monetary Fund on Wednesday approved a two-year, US$2.1-billion support program for Iceland designed to restore confidence and stabilize the country's shattered economy. ...

Boeing says aircraft orders have peaked and will shrink from here

Thu, 20 Nov 2008 02:31:47 +0000

MINNEAPOLIS - Boeing Co. has seen its orders peak and the number of planes in its backlog will probably decline going forward, the chief of its commercial airplanes division said on Wednesday. "Thi...

Big Three rescue plan stalls in U.S. Senate as vote cancelled

Thu, 20 Nov 2008 01:36:04 +0000

WASHINGTON - A Democratic Congress, unwilling or unable to approve a US$25-billion bailout for Detroit's Big Three, appears ready to punt the U.S. automakers' fate to a lame-duck Republican president....

No quick relief for the economy, Flaherty says

Thu, 20 Nov 2008 01:00:49 +0000

OTTAWA - Canadians should not expect quick relief from the deepening economic slump from next week's economic update, Finance Minister Jim Flaherty said Wednesday. Flaherty told reporters following...

U.S. Senate cancels vote on doomed US$25-billion auto bailout

Thu, 20 Nov 2008 00:02:39 +0000

WASHINGTON - The Senate's top Democrat has called off a planned vote this week on a US$25-billion auto industry bailout. Senate Majority Leader Harry Reid said that he wanted to figure out some way...

Consumer prices in United States drop record one per cent in October

Thu, 20 Nov 2008 00:02:32 +0000

WASHINGTON - Consumer prices in the United States plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount. The U.S. Labour Department said W...

Tembec falls to quarterly loss of $4M; sales splinter with U.S. lumber prices

Wed, 19 Nov 2008 23:09:16 +0000

MONTREAL - Forestry company Tembec Inc. (TSX:TMB) said it needs to take downtime at its pulp and lumber mills in the coming months to help it preserve cash and weather the tough operating environment....

Flaherty says he's confident national securities regulator will happen

Wed, 19 Nov 2008 23:09:27 +0000

OTTAWA - Finance Minister Jim Flaherty insisted Wednesday that Canada will create a national securities regulator even if some provinces remain opposed. The finance minister made the blunt pronounc...

Supermarket operator Metro rings up 25.5 per cent quarterly profit rise to $72.3M

Wed, 19 Nov 2008 22:14:01 +0000

MONTREAL - Supermarket operator Metro Inc. (TSX:MRU.A) said it expects to ring in a stronger holiday shopping season as intense competition in Ontario has abated from last year. Canada's third-larg...

Banking stocks fall following Scotiabank's warning of $595-million writedown

Wed, 19 Nov 2008 22:14:04 +0000

TORONTO - Canada's major bank stocks tumbled Wednesday, as a $595-million warning from Bank of Nova Scotia (TSX:BNS) provided a fresh reminder of the sector's exposure to Wall Street's problems. Ba...

Stock markets dive into losses as Big Three automakers plead for government relief

Wed, 19 Nov 2008 22:14:03 +0000

TORONTO - North American stock markets fell sharply again Wednesday as investor confidence was eroded by bad economic data and pessimism over the prospects of a U.S. bailout for the Big Three automake...

US home construction sinks to new record low

Wed, 19 Nov 2008 22:14:06 +0000

WASHINGTON - Construction of new homes in the United States plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived...