Energy earnings: How bad will they get?

Suncor will report its fourth-quarter earnings on Feb. 5. (Agence France Presse) Canadian Oil Sands surprised no one on Thursday when it reported sharply lower earnings and a massive cut to its dividend. But as energy earnings season gets fully underway...

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Greece, EU creditors in open dispute over debt demands

Greece and its European bailout creditors were in open dispute Friday, with Germany bluntly rejecting suggestions the heavily indebted country should be forgiven part of its rescue loans and warning against "blackmail" from Athens. Greece's five-day-old...

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Canadian dollar closes at 78.67 cents US

The Canadian dollar hit a six-year low Friday after a report showing Canada's GDP fell 0.2 per cent in November. The loonie was trading at 78.67 US cents at the close of trading, down 0.53 of a cent from Thursday's close. The currency had...

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Tim Hortons job cuts, loonie's latest low & Coke's new recipe: BUSINESS WEEK WRAP

Tim Hortons was back in the news this week, first denying, and then admitting that it was laying off hundreds of head office workers. The news came as a shock to long-time workers, some of whom described to CBC the spectre of seeing colleagues unceremoniously...

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Germany's Merkel says she doesn't see another Greek debt cut

German Chancellor Angela Merkel has underlined the refusal of Greece's European creditors to consider forgiving part of the debt-ridden country's rescue loans, though she stressed in an interview published Saturday that Berlin's aim is to keep Greece...

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Supreme Court strikes down Saskatchewan law that prevents right to strike

The Supreme Court of Canada has struck down as unconstitutional a Saskatchewan law that prevents public sector employees from striking. By a 5-2 majority, the high court granted an appeal by the Saskatchewan Federation of Labour of the province's controversial...

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Layoff shock: How employers can soften the blow

After recent announcements that scores of employees would be laid off from Target Canada and Tim Hortons across the country, controversy boiled over how management made their decisions. Target Canada's CEO severance package matched that...

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Canada's economy shrank 0.2% in November

Canada's economy shrank in November, and has only expanded by 1.9 per cent over the past 12 months as a whole. (Matt Rourke/Associated Press) Canada's gross domestic product contracted by 0.2 per cent in November, as the economy was dragged down by...

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Credit card users easily identified from 'anonymized' data

Credit card data isn't quite as anonymous as promised, a new study says. Scientists showed they can identify you with more than 90 per cent accuracy by looking at just four purchases, three if the price is included — and this is after companies "anonymized"...

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U.S. economy finished 2014 with slower growth

The U.S. economy slowed in the final three months of 2014 as a big burst in consumer spending was offset by weakness in other areas. The Commerce Department said Friday the overall economy grew at a 2.6 percent rate in the October-December period, down...

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Facebook profit nears $700M as user base grows along with ad views

Facebook Inc. on Wednesday reported fourth-quarter profit of $696 million as the social media company signed up more members who logged on to the site more often, and viewed more ads. On a per-share basis, the Menlo Park, California-based company said...

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CRTC gives OK to U.S Super Bowl ads in Canada — starting in 2 years

Canada's broadcast regulator plans to ban Canadian specialty TV channels from blacking out U.S. Super Bowl ads in favour of Canadian ones, starting with the big game in early 2017. The decision won't take effect in time for this Sunday's game in Phoenix...

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When Tim Hortons dropped the axe, employees were in shock

They didn't see it coming. That's what a laid-off Tim Hortons manager tells CBC News. Instead, she says, just days before job cuts were announced, the company played down media speculation about mass layoffs and gave employees the impression they...

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Falling loonie part of a new race to the bottom

In the Cold War it was called nuclear escalation. Each time one side upped its missile count, the other would up it more. Soon both sides were so bristling with missiles that the only possible strategy was mutually assured destruction,...

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PotashCorp hikes dividend on improved outlook and higher profit

Potash Corporation of Saskatchewan Inc. says demand and prices for its fertilizer has been strong, resulting in a big jump in fourth-quarter profit and supporting the company's confidence in the year ahead. The Saskatoon-based company's net income...

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Waterloo's Kik messenger app surpasses 200M users

The Waterloo, Ont.,-based messenger app Kik is making its mark in a clogged marketplace featuring giants like Facebook and Snapchat, surpassing 200 million registered users on Wednesday. It's a major milestone for the company, founded in 2009...

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Real estate fees getting knocked down by homebuyers going mostly solo

The role of realtors is changing, as Canadians are no longer relying on them to find the right homes. High-tech real estate websites are now empowering consumers to shop for their dream homes on their own. As the internet transforms their industry,...

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Cenovus Energy makes $700-million cut to 2015 spending budget

Brian Ferguson, president & CEO of Cenovus Energy, says the company will lower its 2015 capital budget to between $1.8 billion and $2 billion, which is about $700 million less than the previous estimate. ( Larry MacDougal/Canadian Press) Cenovus...

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Yahoo to spin off lucrative stake in Alibaba

Yahoo CEO Marissa Mayer is spinning off the internet company's prized stake in China's Alibaba Group in a bid to save taxes and pass the benefit of Alibaba's strength on to shareholders. The breakup announced Tuesday will transfer ownership of 384 million...

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Canadian workforce at lowest level in 14 years in 2014

Just 121,000 more Canadians found jobs in 2014 and the number of people in the workforce has fallen to the lowest level in 14 years, according to Statistics Canada. That's because the growth in the number of Canadians of working age, which...

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Boeing, SpaceX rides for astronauts expected to save NASA millions

NASA expects to save millions of dollars sending astronauts to the International Space Station, once its commercial crew program starts flying in a couple of years. SpaceX and Boeing said Monday that they are on track to carry out their first manned...

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Middle-class families earn up to $120K a year, feds say

Canada's finance minister insists low- and middle-income families will see two-thirds of the benefits from the Harper government's contentious multibillion-dollar tableau of family-friendly measures. By that measure, Joe Oliver is suggesting families...

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Why Europe fears a Grexit more than a new bailout

Europe is caught on the horns of a dilemma. Just when economists and financiers were dusting their hands over a job well done fixing Greece's economy, they stumbled across an irritating roadblock. From its birthplace, democracy intervened. In...

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Grocery chain Metro raises dividend

Metro Inc.says its quarterly dividend will be going up 16.7 per cent amid expectations that the grocery company is well-positioned to continue strong growth in the coming quarters. The Montreal-based company says its net income in the first quarter...

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Parliamentary budget officer sees $48 oil creating small deficit

The parliamentary budget officer (PBO) projects the federal government could see its $3-billion contingency fund dissipate and run a $400-million deficit in 2015-16 if oil prices stay at an average of $48 a barrel. The watchdog was asked by Liberal...

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Europe Central Bank stimulus plan brightens economic outlook

The global economic outlook just got brighter after this week's big stimulus from the European Central Bank, leading policymakers from around the world said Saturday. In a panel at the World Economic Forum in Davos, they said a perkier Europe, coupled...

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Top Target Canada managers get big cash payouts as stores close

As Target Canada prepares to shut its doors, key managers will walk away with thousands of dollars of extra cash, but none of its approximately 17,000 front-line workers will be so lucky. Target is not offering any severance. Target, based in the U.S.,...

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