Business RSS
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Average US rate on 30-year mortgage rises to 3.51 per cent; 15-year up to 2.69 per cent
WASHINGTON – Average U.S. rates on fixed mortgages rose this week but stayed near their historic lows. Cheaper mortgages have helped the economy by spurring more home-buying and refinancing. Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 3.51 per cent from 3.42 per cent last week. That’s still near
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Loonie heads lower amid soft commodities, BoC articles on monetary policy
TORONTO – The Canadian dollar headed lower Thursday as commodity prices continued to soften following a round of disappointing U.S. economic reports on unemployment and housing. The loonie was down 0.10 of a cent to 98.21 cents US. In addition to a pullback in commodity prices, the dollar could be affected by the Bank of
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U.S. markets set to open lower amid weak jobless claims, housing figures
TORONTO – North American markets were headed for a weaker open Thursday and the Canadian dollar was down 0.14 of a cent to 98.17 cents US following a round of disappointing U.S. economic reports on unemployment and housing. The Dow Jones industrial futures was down 16 points to 15,219, the S&P 500 futures index was
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Weekly US unemployment aid applications jump to 360,000, highest in 6 weeks
WASHINGTON – The number of Americans seeking unemployment aid rose 32,000 last week to a seasonally adjusted 360,000, the most since late March. The jump comes after applications fell to a five-year low. The Labor Department said Thursday that the less volatile four-week average rose just 1,250 to 339,250, a level consistent with modest hiring.
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Wal-Mart’s 1Q profit disappoints as it struggles with sales slump
NEW YORK, N.Y. – It was a tough quarter for Wal-Mart Stores Inc. The world’s largest retailer reported Thursday that its first-quarter profit edged up slightly, but the company struggled with a sales slump in its namesake business. The company, based in Bentonville, Ark., blamed a payroll tax increase, delayed tax refunds and bad weather
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Telus preparing to buy Mobilicity
Telus has a deal to buy Mobilicity, one of several smaller rivals that came on the scene in recent years. The price is $380 million. Other small players are also on the market.
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Investigations of IRS’ targeting of groups is continuing in wake of ouster of top official
WASHINGTON – Don’t look for the outcry over the Internal Revenue Service’s improper targeting of tea party groups to subside with the ouster of the agency’s acting commissioner. Three congressional committees are investigating and the FBI is looking into potential civil rights violations at the IRS, Attorney General Eric Holder said. Other potential crimes include
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Thumbnail sketch with highlights of CBS’ fall schedule.
NEW YORK, N.Y. – Some highlights of CBS’ moves in its schedule for next season. WHAT’S NEW: Not too much. CBS has such a successful lineup — tops in total viewers and advertiser-favoured young adults this season — that it is bringing aboard just eight new series. But it is toying with the limited-series format
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Google adds photo and other enhancements to Google Plus in effort to rival Facebook
SAN FRANCISCO – Google is digging deeper into its technology toolkit to turn its social networking service into a more formidable threat to Facebook, sprucing up its photo features at a time when sharing snapshots online and on mobile gadgets is growing more popular. Many of the 41 new features being added to Google Plus
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Oil price falls below $93 after poor figures on Europe GDP, US factory output
NEW YORK, N.Y. – The price of oil fell below US$93 on Wednesday after disappointing economic reports from Europe and the U.S. By late morning in New York, benchmark oil for June delivery was down $1.78 to $92.41 a barrel. That marks five straight days of declines after oil rose above $96 last week. New
