The Bank of Canada says it will inject an additional $8 billion into the country's tight money markets under new liberal terms.
Welder Robert England has been out of work since his former employer Dana Canada shut its plant in St. Mary’s last summer.
ATS Automation Tooling Systems Inc. plans to trim five per cent of its workforce – or about 170 jobs – by next spring after reporting a quarterly net profit of $9.3 million, up from a year-ago loss of $18.8 million.
General Motors Corp and Ford Motor Co reported far deeper-than-expected quarterly losses on Friday and said their rate of cash burn had accelerated, as an extended slump in car sales raised questions about the future of the U.S. auto industry.
Facing a legal battle that would have illuminated its widening market power, Google Inc. turned its back on struggling rival Yahoo Inc. and pulled the plug on an Internet advertising partnership that had been conceived to keep Yahoo out of Microsoft Corp.’s clutches.
Stock markets in Toronto and New York rose sharply higher yesterday after the U.S. government rescued Citigroup Inc. with cash and guarantees, boosting investor confidence and resource prices.
Best Buy Co Inc. slashed its fiscal 2009 profit forecast Wednesday driven by weak consumer spending trends heading into the crucial holiday selling season.
The government reported more grim news about the economy Friday, saying employers cut 240,000 jobs in October - bringing the year’s total job losses to nearly 1.2 million. According to the Labor Department’s monthly jobs report, the unemployment rate rose to 6.5% from 6.1% in September and higher than economists’ forecast of 6.3%. It was the highest unemployment rate since March 1994.
