Business News
GM's South Korean unit recalling nearly 60,000 vehicles over possible safety problems
SEOUL, South Korea - General Motors is recalling nearly 60,000 automobiles in South Korea due to potential problems with steering wheels, fuel hoses and seats, the company's local unit and the governm...
Construction company in Guelph, Ont. laying off 80 workers
GUELPH, Ont. - A construction company in Guelph, Ont. is laying off over 80 employees. Hitachi Construction Truck Manufacturing says it is laying off workers due to reduced demands for its dump tru...
British Airways crew launches 3-day strike, forcing airline to cancel thousands of flights
LONDON - Retiree Richard Moore arrived at Heathrow with a suitcase of summer clothes for a Miami cruise only to be sent to Denver. Susan Danby wondered if plans for a joint 50th birthday celebration i...
Fed Chairman Bernanke tries to makes case for Fed to retain role as watchdog of smaller banks
WASHINGTON - Federal Reserve Chairman Ben Bernanke made a fresh pitch Saturday to retain oversight of small banks, contending that what the Fed learns from that role helps it assess the overall health...
Britain's opposition Conservative Party pledges to impose unilateral bank tax
LONDON - Britain's main opposition Conservative Party says it will impose a new tax on banks to avoid taxpayers bearing the cost of any future bailouts if the party wins upcoming general elections. ...
Talks between British Airways, union collapse; strike affecting thousands of travellers begins
LONDON - A three-day strike by British Airways cabin crew affecting thousands of travellers began Saturday after last-ditch talks between the airline's management and union leaders collapsed. The w...
Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year
WASHINGTON - Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year. The closings follow the 140 that succumbed in 2009 t...
TMX Group to reduce fees for securities trading at $1 or higher on TSX
TORONTO - TMX Group Inc. (TSX:X) says it will reduce its trading fees for securities trading at $1 or higher on the Toronto Stock Exchange and the TSX Venture Exchange. The changes, which will take...
Barrick Gold expects US$834M in proceeds from IPO of African division
TORONTO - Barrick Gold Corp. (TSX:ABX) expects that an initial public offering for a quarter stake in its African properties will reap US$834 million in cash for the global mining giant. Toronto-ba...
Oil tumbles near US$80 a barrel as stronger dollar stalls month-long rally
NEW YORK - Oil prices slumped at the end of the week as continued uncertainty about Greece's economy helped lift the U.S. currency higher. Benchmark crude for April delivery dropped $1.52 to settle...
