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General Motors facing major changes

General Motors facing major changes

The Obama administration plans to give General Motors Corp. enough government aid to restructure over the next 60 days, while Chrysler LLC will get up to $6 billion and 30 days to complete an alliance with Italian automaker Fiat SpA.

G20 leaders plan to shun protectionism

Leaders of the world’s richest countries plan to shun protectionism and improve regulation at their summit this week in London, according to a draft communique of their conclusions published by the Financial Times on Sunday.
Albertans cut back on frills during hard times

Albertans cut back on frills during hard times

The deep rivers of cash that were flowing down Calgary streets during the height of the oil boom have dwindled in the current recession and that has meant hard times for businesses that cater to the money-is-no-object Albertan.

Budget provides some relief for Canadians

Tax measures in the latest federal budget will provide some relief to average Canadians.
White House asked GM chief to step down, officials say

White House asked GM chief to step down, officials say

WASHINGTON — The White House forced the resignation of General Motors’ top executive Sunday, on the eve of announcing new aid and a 60-day deadline for the ailing auto giant to restructure. Chrysler LLC will get up to $6 billion and 30 days to complete an alliance with Italian automaker Fiat SpA.

Companies seek approval for joint oilsands venture

EnCana Corp. (TSX:ECA) and ConocoPhillips (NYSE:COP) are seeking approval to more than double the capacity of their joint Christina Lake oilsands venture in Northern Alberta.

High Arctic reports net loss, higher revenue

Sluggish activity in the Canadian oilpatch was countered by a busy drilling year in Papua New Guinea to leave High Arctic Energy Services Inc. (TSX: HWO) with a net loss of $39.6 million for 2008.

Office building approved

It won’t turn heads like the Executive Place construction project, but work on another downtown office building could begin shortly.

NAFTA trade skirmish brewing

OTTAWA — The Canadian government and the export industry are watching nervously as a trade war brews between this country’s NAFTA partners.

‘Normal’ years away

OTTAWA — The world will pay a stiff price in future years for current massive government spending aimed to avert an even greater economic disaster, TD Bank’s chief economist Don Drummond says.