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Couche-Tard burnishes reputation after surpassing threshold in Statoil Retail bid
MONTREAL – Alimentation Couche-Tard has burnished its reputation as a tough and disciplined bidder by succeeding in its protracted, $2.7-billion takeover of Norway’s Statoil Fuel & Retail ASA. The Quebec-based convenience store chain and fuel station operator’s shares briefly hit an all-time high in Thursday trading after it said almost 91 per cent of Statoil
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Outlook darkens among US CEOs as fewer plan to add jobs or boost spending
WASHINGTON – A survey of chief executives shows fewer large U.S. companies plan to hire or boost spending in the next six months, reflecting a weaker U.S. economy. The Business Roundtable says 36 per cent of its CEO members plan to add workers over the next six months. That’s down from 42 per cent when
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RIM shares down as job cuts start
BlackBerry maker Research in Motion Ltd. (TSX:RIM) has begun cutting jobs in a bid to save $1 billion. Shares of RIM were trading lower Wednesday following news of the cuts.
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Swedish fashion chain H&M sees Q2 profits soar on strong sales, success for spring collection
STOCKHOLM – Swedish fashion retailer Hennes & Mauritz AB says its second-quarter profits soared by around 23 per cent thanks to a particularly strong sales performance of its spring collection. Wednesday’s report showed a net profit of 5.22 billion kronor ($745 million) in the March to May period, up sharply from 4.3 billion kronor recorded
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Enbridge pumping station spills 230,000 litres of heavy crude northeast of Edmonton
ELK POINT, Alta. – There’s been another oil spill in Alberta, this time northeast of Edmonton. The Energy Resources Conservation Board says the leak of heavy crude oil happened Monday at a pumping station on Enbridge Inc.’s (TSX:ENB) Athabasca pipeline about 24 kilometres southeast of Elk Point. Enbridge estimates about 230,000 litres has leaked, but
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Obama: Europeans ‘grasp seriousness’ of debt crisis, moving ‘heightened sense of urgency’
LOS CABOS, Mexico – President Barack Obama voiced confidence Tuesday in Europe’s ability to “break the fever” of its raging debt crisis as he sought to calm both global financial markets and the election-year worries of voters at home. Obama, speaking at the close of the Group of 20 economic summit, said Europe’s leaders showed
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Most actively traded companies on the TSX, TSX Venture Exchange markets
TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (11,788.36, up 187.23 points): Extorre Gold Mines Ltd. (TSX:XG). Miner. Up two cents, or 0.47 per cent, at $4.29 on 8,203,832 shares. Bombardier Inc. (TSX:BBD.B). Transportation equipment. Unchanged at $4.05 on 6,928,848
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Life-size wooden model of CSeries jet helps Bombardier workers troubleshoot
MONTREAL – Bombardier’s new CSeries may be a sophisticated new plane, but the manufacturer has built a wooden life-size model to help identify bugs that could lead to costly delays. For four months, Bombardier has been using the model to give workers a hands-on feel to identify any problems. “It’s basically a confirmation process,” Francois
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Former Postmedia exec Malcolm Kirk named new president of The Canadian Press
TORONTO – A former executive at Canada’s largest newspaper publisher has been named president of The Canadian Press, capping more than a year of restructuring and recovery at the national news agency. Malcolm Kirk, formerly executive vice-president of digital media with Postmedia Network Inc., was introduced Tuesday to staff members in Toronto and across the
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Threat of summer Ontario election eases as budget battles wind down
TORONTO – The threat of a summer election over the Ontario budget virtually evaporated Tuesday, but the partisan battles left some bitter feelings, especially among New Democrats and Liberals. The legislature was scheduled to be recalled Wednesday for the vote on the minority government’s budget, which the New Democrats said again Tuesday they will allow
