CFTKTV - Business News

U.S. federal agency takes over 2 banks operating in the West

Sat, 26 Jul 2008 20:37:48 +0000

CARSON CITY, Nev. - Two banks operating in Nevada, Arizona and California - 1st National Bank of Nevada and First Heritage Bank N.A. - were closed Friday by federal regulators. The 28 branches of t...

U.S. Congress passes mortgage aid for 400,000 struggling homeowners

Sat, 26 Jul 2008 16:49:47 +0000

WASHINGTON - U.S. Congress passed a housing rescue bill Saturday aimed at sparing 400,000 struggling homeowners from foreclosure. President George W. Bush is expected to sign the measure quickly. T...

Nike to drop Hyperdunk ads some see as homophobic

Sat, 26 Jul 2008 03:43:51 +0000

BEAVERTON, Ore. - Nike said Friday it would pull its ads for its Hyperdunk basketball shoes, responding to criticism that they fed homophobic views. Nike previously defended the ads, but said it wo...

FCC approves satellite radio merger in 3-2 vote

Sat, 26 Jul 2008 03:17:07 +0000

WASHINGTON - Federal regulators formally approved the merger of the only two satellite radio operators in the U.S. on Friday, ending a 16-month-long drama closely watched by Washington and Wall Street...

FCC approves satellite radio merger of Sirius and XM in 3-2 vote

Sat, 26 Jul 2008 02:12:08 +0000

WASHINGTON - Federal regulators in the United States formally approved the merger of the country's only two satellite radio operators Friday, ending a 16-month-long drama closely watched by Washington...

A lawyer for the maker of Bratz dolls seeks mistrial after juror dismissed

Sat, 26 Jul 2008 02:10:35 +0000

RIVERSIDE, Calif. - A lawyer for the maker of Bratz dolls sought a mistrial Friday in a copyright infringement case brought by Mattel Inc. after a juror was dismissed for allegedly making racial slurs...

Global Copper says shareholders vote 99.9 per cent in favour of Teck deal

Sat, 26 Jul 2008 01:13:07 +0000

VANCOUVER - Global Copper Corp. (TSX:GLQ) shareholders have voted overwhelmingly in favour of a takeover of the company by Teck Cominco Ltd. (TSX:TCK.B), the company said Friday. Global Copper said...

Ford Motor Co. top executives say new models are on way

Fri, 25 Jul 2008 23:52:23 +0000

DEARBORN, Mich. - A day after posting the worst quarterly loss in its history, Ford Motor Co.'s top product and manufacturing executives said the company plans to roll out new models and make its fact...

European Commission OKs Hewlett-Packard's buyout of Electronic Data Systems

Fri, 25 Jul 2008 23:52:21 +0000

PALO ALTO, Calif. - Hewlett-Packard Co. said Friday the European Commission has approved its planned acquisition of Electronic Data Systems Corp. without conditions. The companies have also agreed to ...

Ottawa won't grant Air Canada waiver for group layoff of employees

Fri, 25 Jul 2008 23:32:04 +0000

MONTREAL - Federal Labour Minister Jean-Pierre Blackburn has rejected Air Canada's (TSX:AC.B) request for a waiver that would have allowed the airline to lay off employees Nov. 1 without first setting...

For the economy in the United States, finally some news not half bad

Fri, 25 Jul 2008 23:09:52 +0000

WASHINGTON - After weeks of one negative report after another, the U.S. economy finally got some news Friday that wasn't half bad. Wall Street, which suffered a stomach-churning drop Thursday, mana...

General Motors says US$463M centre speeds powertrain development

Fri, 25 Jul 2008 23:09:54 +0000

PONTIAC, Mich. - General Motors Corp. says it's turning to advanced math and simulators to chop 40 per cent off the development time for vehicle power systems at its new UC$463-million powertrain deve...

Toyota raises price of Prius hybrid by US$500 for 2009 in United States

Fri, 25 Jul 2008 22:57:09 +0000

NEW YORK - Toyota Motor Corp. said Friday it is raising the U.S. suggested retail price of its Prius hybrid by US$500 for the 2009 model. The new price is a 2.2 per cent increase over the current m...

Consumers' Waterheater Income Fund reports Q2 loss of $1.4 million

Fri, 25 Jul 2008 22:57:11 +0000

TORONTO - Consumers' Waterheater Income Fund (TSX:CWI.UN) reported a second-quarter loss of $1.4 million on Friday, down from a loss of $23.1 million a year ago. The fund said the loss amounted to ...

Automaker Chrysler LLC to get out of leasing business by end of month

Fri, 25 Jul 2008 22:37:35 +0000

DETROIT - Chrysler LLC said Friday its financial arm will get out of the auto leasing business by the end of the month because economic conditions have made leasing more expensive than buying, for bot...