Business News

American Airlines workers brace for thousands of job cuts

DALLAS - Many more job cuts, likely totalling more than 6,000, are likely at American Airlines as the biggest airline in the United States hunkers down and tries to survive record high fuel costs. ...

Venezuela's Chavez says oil prices will keep rising, attacks falling US dollar

CARACAS, Venezuela - Venezuelan President Hugo Chavez said Thursday that oil prices will continue spiralling upward as world reserves decline and consumption in wealthy countries including the United ...

Fort St. John expected to handle oil and gas boom well: mayor

Fort St. John, B.C., - which bills itself as "The Energetic City" - will be able to avoid many of challenges that have become synonymous with the oilsands boomtown of Fort McMurray, Alta., the city's ...

Viterra tells union 'rotating lockout' to begin next week for Sask workers

REGINA - Grain handler Viterra Inc. (TSX:VT) plans to implement a "rotating lockout" next week for its Regina office and Saskatchewan operations and maintenance workers who rejected the company's late...

Wall Street firms reduce, banks step up U.S. Federal Reserve loans

WASHINGTON - Wall Street companies sharply scaled back their borrowing from the U.S. Federal Reserve's emergency lending program over the past week while commercial banks boosted it slightly. A Fed...

Duncan confident Ontario isn't poised for a recession, despite Q1 decline

TORONTO - Finance Minister Dwight Duncan expressed confidence Thursday that Ontario will avoid a recession even though fresh numbers indicate the province is already halfway there. Newly released g...

Banks see Canada's economy rebounding, but rough times for Ontario

OTTAWA - Canada's national economy got a mild vote of confidence from two chartered banks Thursday as they forecast moderate growth this year and next, but a rougher ride ahead for Ontario's industria...

Mutual fund sales between $1.46 billion and $1.96 billion in June, IFIC says

TORONTO - Preliminary sales numbers suggest net mutual fund sales for June were between $1.46 and $1.96 billion, the Investment Funds Institute of Canada said Thursday. IFIC estimated that net asse...

Canada trying to open up cellphone industry with spectrum auction

MONTREAL - Cellphones are among the most popular consumer products and an online auction taking place to open up competition in Canada's wireless industry is eventually expected to help consumers. ...

Financials help TSX to a positive close; NY mainly higher on jobs data

TORONTO - A late day burst of strength in bank stocks helped the Toronto stock market claw back some of Wednesday's tumble which was sparked by worries about slowing economic conditions. New York s...