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TD Bank chief economist Don Drummond to retire in June

THE CANADIAN PRESS 11 Mar, 2010 0 0

TORONTO - TD Bank chief economist Don Drummond plans to retire at the end of June. The bank says Drummond will be succeeded by Craig Alexander, who is currently TD's deputy chief economist. Drummond will assist in the transition of Alexander into the role, and will continue to work as an adviser

Crescent Point posts fourth-quarter loss on hedging losses

THE CANADIAN PRESS 11 Mar, 2010 0 0

CALGARY - Crescent Point Energy Corp. (TSX:CPG), an oil and gas producer, reported a fourth-quarter loss of $4 million compared to a profit of $361 million in the same quarter of 2008, its results affected by losses this year and gains in the last due to its hedging program. The loss amounted to

Kinross takeover offer values Underworld Resources at $139.2 million

THE CANADIAN PRESS 11 Mar, 2010 0 0

TORONTO - Kinross Gold Corp. (TSX:K) is offering to pay a premium to buy the rest of Underworld Resources Inc. (TSXV:UW) in a stock-and-cash deal that values the junior mining company at $139.2 million. Kinross, which is one of Canada's largest gold producers, already owns 8.5 per cent of Underw

Stocks little changed as investors continue to digest last week's big advance

Malcolm Morrison, THE CANADIAN PRESS 11 Mar, 2010 1 26

TORONTO - The Toronto stock market was little changed late Thursday morning as tech stocks provided lift and commodity stocks recovered from early declines sparked by higher Chinese inflation data. The S&P/TSX composite index was down a fifth of a point to 11,960.9 and the Canadian dollar was of

January US trade deficit shrinks to $37.3B as imports fall more than exports

Martin Crutsinger, THE ASSOCIATED PRESS 11 Mar, 2010 0 0

WASHINGTON - The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell, a potential blow to hopes that the economic recovery will be aided this year by U.S. sales abroad. The Commerce Department said that the trade

Housing prices rise for third straight month in January: StatsCan

THE CANADIAN PRESS 11 Mar, 2010 0 0

OTTAWA - The New Housing Price Index rose 0.4 per cent for the third straight month in January. Statistics Canada reports St. John's, N.L., led the way at 1.7 per cent growth, followed by Winnipeg (0.7), and Toronto and Oshawa (0.6). Ottawa-Gatineau, Saskatoon and Calgary all registered 0.5 per

Devon Energy to partner with BP in Alberta oilsands, sell US$7 billion of assets elsewhere to BP

THE ASSOCIATED PRESS 11 Mar, 2010 0 0

LONDON - BP PLC is partnering with Devon Energy Corp. to develop an Alberta oilsands project as part of a much larger deal in which BP will pay US$7 billion to buy exploration rights in several countries from the Amerian company. BP, which has not been a major player in the Alberta oilsands, sai

Trade surplus grows as exports up, imports down in January: StatsCan

THE CANADIAN PRESS 11 Mar, 2010 0 0

OTTAWA - Canada's merchandise exports grew 0.5 per cent in January, while imports declined 1.7 per cent. As a result, Statistics Canada reports the country posted a trade surplus with the world of $799 million in January compared with a surplus of $75 million in December. Exports increased to

World markets steady after Chinese inflation jump

PAN PYLAS, THE ASSOCIATED PRESS 11 Mar, 2010 0 0

LONDON - World stock markets traded in a narrow range Thursday amid growing concerns of an overheating Chinese economy and as investors awaited more U.S. economic data over the rest of the week for further insights into the state of the U.S. economic recovery. In Europe, the FTSE 100 index of le

Toyota subsidiary Daihatsu recalls around 275,000 cars in Japan

THE ASSOCIATED PRESS 11 Mar, 2010 0 0

TOKYO - Daihatsu Motor, a subsidiary of Toyota, said Thursday it will recall around 275,000 vehicles in Japan due to faulty brake lamps and loose bolts in the suspension system. The move comes as Daihatsu's parent company - Toyota Motor Corp. - battles to restore consumer confidence amid massive
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