Business

Market Stats

MARKETS CLOSE TORONTO — The Toronto stock market handed in a negative finish for a second straight session Wednesday, pressured by the energy sector as oil prices fell while financials stepped back amid tepid reaction to major bond issues in the U.S. and Britain.

Agriculture gives boost to Cervus

A strong year in the agricultural sector allowed Cervus LP (TSX:CVL.UN) to nearly double its net earnings in 2008, despite a construction slowdown.

Liberty Crossing eyes tenants

A new retailer should take up residence in a long-vacant commercial building in Liberty Crossing this summer.

Unusual house rezoned

A massage therapy and acupuncture clinic on Ross Street will create additional parking frustrations in an already congested area, says an apartment owner.

White House Chief of Staff Rahm Emmanuel and Senior Advisers Valerie Jarrett and David Axelrod

Obama calls for unity in recession battle

WASHINGTON — President Barack Obama pressed global leaders in a written message Tuesday to take “bold, comprehensive and co-ordinated” steps against the recession.

White House Chief of Staff Rahm Emmanuel and Senior Advisers Valerie Jarrett and David Axelrod
A Petro Canada gas station is seen at the corner of Jarvis and Richmond in Toronto on Monday. The merging of Suncor Energy Inc.  and former Crown corporation Petro-Canada would create a Canadian energy giant.

Refineries expansion expected in merger

CALGARY — Suncor Energy Inc. (TSX:SU) will likely expand its refining network when it merges with Petro-Canada (TSX:PCA), rather than shut down gasoline-production operations as some have feared, an energy analyst said Tuesday.

A Petro Canada gas station is seen at the corner of Jarvis and Richmond in Toronto on Monday. The merging of Suncor Energy Inc.  and former Crown corporation Petro-Canada would create a Canadian energy giant.

A&S Auto moves

A used auto dealership has received approval to operate at the site of a former service station, albeit for a shorter period.

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Take stock – March 24

NAL Oil & Gas Trust (TSX:NAE.UN) has struck a deal to take over Alberta Clipper Energy Inc. (TSX:ACN) in a transaction valued at $115 million including $78 million of assumed debt.

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President Barack Obama

Too early to judge bank plan

TORONTO — A U.S. government plan to buy up toxic banking assets and provide a boost to lending could rejuvenate both the American and Canadian economies, according to economists and banking industry observers.

President Barack Obama

Confidence on the rise

OTTAWA — The economy received some needed encouragement Monday with a sharp jump in stock markets and a report showing Canadians are less despondent about their prospects.

Millennium Centre fills up

If Red Deer is in the grips of an economic slowdown, it hasn’t prevented the owner of Red Deer’s Millennium Centre from filling more than 40,000 square feet of office space.

Central Alberta businessman James Carpenter with one of Empowered Global’s microcredit clients in Bangladesh.

Sowing seeds of prosperity

It’s an image that continues to haunt Andrew Carpenter.

Central Alberta businessman James Carpenter with one of Empowered Global’s microcredit clients in Bangladesh.
Artist’s rendering of Holiday Inn hotel project south of city in Gasoline Alley

Hotel project grows: Holiday Inn on Gasoline Alley includes conference space for 500

Red Deer’s reputation as a convention hot spot should strengthen next year with the opening of a full-service Holiday Inn in Gasoline Alley.

Artist’s rendering of Holiday Inn hotel project south of city in Gasoline Alley
Toyota Motor Corp. Executive Vice President Mitsuo Kinoshita speaks during a press conference to announce Toyota's third quarter financial results in Tokyo on Friday. Toyota sank into the red for the October-December quarter and acknowledged it was heading for its first annual net loss since 1950 because of plunging global automobile sales and the strong yen. Joining a string of Japanese companies that have slashed forecasts

Toyota sees first annual net loss since 1950

Toyota forecast its first annual net loss since 1950 on Friday as plunging demand for cars, especially in the U.S., and the strong yen pummeled earnings at the world’s No. 1 automaker.

Toyota Motor Corp. Executive Vice President Mitsuo Kinoshita speaks during a press conference to announce Toyota's third quarter financial results in Tokyo on Friday. Toyota sank into the red for the October-December quarter and acknowledged it was heading for its first annual net loss since 1950 because of plunging global automobile sales and the strong yen. Joining a string of Japanese companies that have slashed forecasts

A year after US$100, oil prices cut in less than half, settles at $46.34

HOUSTON — Exactly one year after crude eclipsed US$100 a barrel for the first time, 2009 trading began Friday with prices roughly half their year-ago levels, and some believe oil could be headed even lower.

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Family needs 25,000 bids to sell old house for $11

David Stockburger’s daughter does not seem destined for a career as a real estate agent.

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Median family income continues ascent between 2005 and 2006

OTTAWA — The median family income rose 2.1 per cent between 2005 and 2006, largely the result of strong economic growth fostered by employment gains.

Oil futures hit record, over $115

NEW YORK — Crude futures made their first foray past US$115 Wednesday, propelled to a new record by concerns about how much gas will be available during the peak summer months.

Allan Crate

Revenue from goods manufactured during 2007 was comparable to 2006

Sales of equipment related to dental and health care were up sharply; demand for instrumentation for the energy sector fell.

Allan Crate