EU 'very close' to an 'ambitious' trade deal with Canada

The European Union is "very close" to an "ambitious" free-trade deal with Canada, its trade commissioner said Thursday, with negotiations still seemingly needed on agriculture and investor protections, among other issues. European Trade Commissioner...

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Eurozone unemployment hits record high

Another month, another record unemployment rate for the economy of the 17 EU countries that use the euro. Figures released Friday from Eurostat, the European Union's statistics office, showed that the recession in the eurozone pushed unemployment in...

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Canadian economy stuck in neutral

Canada's economic expansion slowed to a crawl in the third quarter, growing by 0.1 per cent in the three months ended September and expanding at a pace of less than one per cent for the year as a whole, according to data released today. Statistics Canada...

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Harper's Muskrat Falls announcement clears hurdle

An expected announcement Friday on a federal loan guarantee for the controversial Muskrat Falls plan will clear the final important hurdle to launching the hydroelectric project. Stephen Harper pledged to support a Muskrat Falls loan guarantee during...

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Kent rejects Cenovus Energy gas project in Alberta

Environment Minister Peter Kent says he won't approve an Alberta gas project planned by Cenovus Energy. Environment Minister Peter Kent has announced a proposed shallow gas infill development project at CFB Suffield Wildlife Area in Alberta will not...

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Canadians value more vacation over pay hikes

An international report Wednesday found that Canadian workers would rather get an additional week's paid vacation than be paid more to do their jobs. The Mercer consultancy report says 20 per cent of Canadians polled said the job perk they would most...

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Ecuadorians take $19B suit against Chevron to Toronto

A $19-billion environmental lawsuit over black sludge that seeped into an Ecuadorian rainforest a generation ago makes its Canadian courtroom debut today. The Ontario Superior Court in Toronto will be the latest venue in the bitter 19-year legal fight...

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Royal Bank profit jumps to record $7.5B

The Royal Bank says it had a record annual profit in 2012, including $1.9 billion of net earnings in the fourth quarter. The quarterly profit amounted to $1.25 per share of net earnings, or $1.27 per share of adjusted diluted earnings. For the full-year...

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U.K. media ethics report urges independent press regulator

Britain needs a new independent media regulator to eliminate a subculture of unethical behaviour that infected segments of the country's press, a senior judge said at the end of a yearlong inquiry into newspaper wrongdoing. Lord Justice Brian Leveson...

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Low house prices not all bad news, CIBC says

A slowdown in house prices isn't necessarily completely negative for Canada's economy, one of the country's largest banks said today. "Cheaper home prices could bring winners as well as losers across the economy," CIBC World Markets economist Avery...

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Budget Rent a Car fraud claims probed by RCMP

B.C. Attorney General Shirley Bond says provincial agencies are investigating allegations of fraud at Budget Rent a Car locations in the Vancouver area. CBC News has spoken with Budget customers and former employees who accuse the company of grossly...

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Disney, Wal-Mart, Sears used deadly Bangladeshi factory

Amid the ash, broken glass and melted sewing machines at what is left of the Tazreen Fashions Ltd. factory in Bangladesh, there are piles of children's shorts bearing Wal-Mart's Faded Glory brand. There were also shorts from hip-hop star Sean Combs's...

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CNOOC, Nexen resubmit bid to U.S. investment body

Calgary's Nexen Inc. and the Chinese state-owned company seeking to buy it have withdrawn and resubmitted a notice about the proposed $15-billion acquisition to the U.S. Committee on Foreign Investment. Nexen said Tuesday that the company and its bidder,...

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Will a new Bank of Canada governor shake up interest rates?

Mark Carney's successor as governor of the Bank of Canada is not expected to implement a radical change in interest rate policy and most likely will hold the current underlying philosophy, which includes a hawkish attitude toward inflation. Speculation...

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BP suspended from new U.S. government contracts

The Obama administration put a temporary stop to new federal contracts with British oil company BP on Wednesday, citing the company's "lack of business integrity" and criminal proceedings stemming from the Deepwater Horizon disaster in 2010. The action...

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Bombardier signs record $7.8B jet deal with VistaJet

Bombardier Inc. has made the biggest sale of business aircraft in its history, potentially worth up to $7.8 billion if all options are exercised, the Montreal-based company announced Tuesday. VistaJet, a private European company that provides luxury...

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SNC-Lavalin payments under scrutiny total $195M

Canadian engineering giant SNC-Lavalin says it has no evidence that $139 million paid to two companies for work related to projects in Libya was misused, following revelations that Swiss authorities are looking into the money as part of an international...

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Greece bankruptcy averted with new deal

Greece has avoided imminent bankruptcy after its international creditors finally agreed to give it the money it urgently needs but the cash-strapped country's economic distress is likely to drag on for years to come. After three weeks of negotiations,...

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Corporate profits rebound, up 3.7% in third quarter

Statistics Canada says corporations earned $72.2 billion in operating profits in the third quarter, up 3.7 per cent from the previous quarter. The increase during the July to September period follows a 7.0 per cent decrease in the second quarter. The...

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Canada's economy held back by slow global growth

The Organization for Economic Cooperation and Development says weak global demand is keeping Canada's economy in the slow lane. The Paris-based group said in a report Tuesday it expects Canada's economy to grow by only 1.5 per cent in the last three...

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Swiss probe $139M SNC-Lavalin laundering case

Prosecutors in Switzerland have formally indicted former SNC-Lavalin executive Riadh Ben Aissa on allegations he laundered vast sums of money tied to at least $139 million in mysterious payments by the company, according to Swiss public broadcaster RTS....

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Cyber Monday, Black Friday sales could trump Boxing Day

As hype surrounding Cyber Monday and Black Friday spreads north of the border, experts say the burgeoning weekend-long holiday sales event could soon surpass Boxing Day as the busiest shopping period of the year. With the frenzy of what could be Canada's...

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Onex offers $2.3B for American insurer USI

Toronto-based conglomerate Onex Corp. has an agreement to acquire U.S. insurance company USI in a friendly deal valued at $2.3-billion US. USI is a privately held affiliate of Goldman Sachs with more than 3,300 employees in about 100 offices across...

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CIBC ups RIM target price to $17

Research In Motion has received another vote of confidence from the investment community, this time from CIBC. The bank's capital markets arm has raised its price target for the Canadian smartphone maker's stock to $17 — up from CIBC's previous estimate...

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Inflated Quebec construction contracts got federal tax dollars

Taxpayers across the country had their money spent on Quebec construction projects identified at an eye-opening corruption inquiry as suffering cost overruns through collusion schemes, a review of contracts by The Canadian Press has revealed. A search...

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Inflation unchanged as prices increase 1.2% in October

Consumer prices increased by 1.2 per cent in the 12 months ended in October, leaving Canada's inflation rate unchanged for three consecutive months. Statistics Canada said Friday that smaller price increases for energy offset larger gains in food, air...

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Cyprus bailout talks make 'good progress'

Cyprus' potential international creditors said Friday they have made "good progress" in negotiations on a possible bailout for the crisis-hit country. Despite earlier hopes that a deal was imminent, they said long-distance talks would continue on securing...

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