Business News in Canada | Local Thoughts

Canadian Business News

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Citigroup eyes options, including merger

Friday, November 21, 2008 - 10:33am

Reuters - NEW YORK (Reuters) - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.

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Canadian Business - Market news

Rescue plan for auto industry sought by Detroit collapses

Friday, November 21, 2008 - 10:12am

WASHINGTON - The US$25-billion rescue plan for the auto industry, desperately sought by Detroit's beleaguered Big Three, collapsed Thursday as the

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Rescue plan for auto industry sought by Detroit collapses

Friday, November 21, 2008 - 10:12am

The Canadian Press - WASHINGTON - The US#36;25-billion rescue plan for the auto industry, desperately sought by Detroit's beleaguered Big Three, collapsed Thursday as the U.S. Congress drew the line at one more bailout and Democrats said they wouldn't even consider it until the companies produced a convincing plan for rebuilding their once-mighty industry.

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Canadian Business - Market news

Oil moves above $50 a barrel as stocks rebound

Friday, November 21, 2008 - 9:42am

SINGAPORE - Oil prices rose off a three-year low, creeping above $50 a barrel Friday in Asia as investors took a cue from a rebound in regional

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Oil moves above #36;50 a barrel as stocks rebound

Friday, November 21, 2008 - 9:42am

The Canadian Press - SINGAPORE - Oil prices rose off a three-year low, creeping above #36;50 a barrel Friday in Asia as investors took a cue from a rebound in regional stock markets.

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Canadian Business - Market news

Asia, Europe stocks rebound after Wall Street rout

Friday, November 21, 2008 - 9:36am

BANGKOK, Thailand - Most Asian and European markets rebounded Friday after sharp declines in recent days as investors scooped up battered

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Asia stocks at 5-year low

Friday, November 21, 2008 - 5:54am

Reuters - HONG KONG (Reuters) - Waves of selling in world stock markets crashed into Asia on Friday, with gains from the region's 5-year bull run now erased as a global recession tightened its grip, and investors sought refuge in government bonds and cash.

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Canadian Business - Market news

Dell 3rd-quarter profit sinks 5 percent as business spending on PCs slows

Friday, November 21, 2008 - 5:49am

Dell Inc.s fiscal third-quarter profit sank 5 percent as concerns about the deepening economic crisis crimped corporate spending on

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Canadian Business - Market news

Most Asian markets rebound after Wall Street rout

Friday, November 21, 2008 - 5:38am

BANGKOK, Thailand - Most Asian markets rebounded Friday after days of sharp declines in global markets as investors scooped up battered financial

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Most Asian markets rebound after Wall Street rout

Friday, November 21, 2008 - 5:38am

The Canadian Press - BANGKOK, Thailand - Most Asian markets rebounded Friday after days of sharp declines in global markets as investors scooped up battered financial and technology shares.

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Canadian Business - Market news

Dell 3rd-quarter profit sinks 5 percent as business spending on PCs slows

Friday, November 21, 2008 - 5:08am

Dell Inc.s fiscal third-quarter profit sank 5 percent as concerns about the deepening economic crisis crimped corporate spending on

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Canadian Business - Market news

Oil falls to a three-year low below $49 a barrel in Asia in early trading

Friday, November 21, 2008 - 4:38am

SINGAPORE - Oil prices fell to a three-year low below $49 a barrel Friday in Asia as plunging stock markets, driven down by more bad U.S. economic

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China in talks to buy stake in AIG unit: report

Friday, November 21, 2008 - 4:35am

AFP - TOKYO (AFP) - A consortium led by China's sovereign wealth fund is in talks with struggling US insurance giant American International Group to acquire a stake in one of its units, according to a Japanese daily.

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Canadian Business - Market news

Japan's central bank keeps interest rates on hold despite global chaos

Friday, November 21, 2008 - 4:05am

TOKYO - Japan's central bank has decided to keep its key interest rate unchanged despite further signs of rapidly deteriorating conditions at home

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Japan's central bank keeps interest rates on hold despite global chaos

Friday, November 21, 2008 - 4:05am

The Canadian Press - TOKYO - Japan's central bank has decided to keep its key interest rate unchanged despite further signs of rapidly deteriorating conditions at home an in the global economy.

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Canadian Business - Market news

As U.S. Congress deals with economic crisis, Clement shows up to talk bailout

Friday, November 21, 2008 - 3:54am

WASHINGTON - As U.S. legislators ordered the chief executives of North America's biggest automakers back to Detroit to come up with a business

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Financial turmoil biting hard for Vegas gaming giants

Friday, November 21, 2008 - 3:53am

AFP - LAS VEGAS, Nevada (AFP) - Times are tough for Las Vegas casinos as for every other sector of the ailing US economy, but that in itself is news because, until this economic downturn, the one place that seemed less impacted by hard times was the world's gambling capital.

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Canadian Business - Market news

The U.S. is calling a meeting of world regulators amid global crisis

Friday, November 21, 2008 - 3:45am

WASHINGTON - The chairman of the U.S. securities regulator has convened a meeting of international regulators for next week to deal with urgent

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The U.S. is calling a meeting of world regulators amid global crisis

Friday, November 21, 2008 - 3:45am

The Canadian Press - WASHINGTON - The chairman of the U.S. securities regulator has convened a meeting of international regulators for next week to deal with urgent regulatory issues stemming from the global financial crisis.

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No viable auto industry bailout plan: Democrats

Friday, November 21, 2008 - 3:20am

AFP - WASHINGTON (AFP) - Democrats in Congress put off a vote on a bailout for crisis-hit Big Three auto makers until at least December, and ordered industry chiefs to come up with a new restructuring plan.

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Citigroup executives consider sale of all or part of bank: report

Friday, November 21, 2008 - 3:16am

AFP - WASHINGTON (AFP) - With Citigroup stock value plunging, top executives at the financial giant are considering the sale of all or parts of the company, the Wall Street Journal reported on its website late Thursday.

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Canadian Business - Market news

Dollar rises against the Canadian currency in trading late Thursday night

Friday, November 21, 2008 - 3:15am

The dollar rose against the Canadian dollar late Thursday night. The U.S. currency bought 1.2919 Canadian dollars, up from 1.2842 Thursday

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Canadian Business - Market news

Dollar gains slightly against the Swiss franc in trading late Thursday night

Friday, November 21, 2008 - 3:14am

The dollar edged higher against the Swiss franc late Thursday night. The U.S. currency was worth 1.2256 Swiss francs, up slightly from the 1.2233