How much longer can gold rise?As the precious metal continues to soar, naysayers abound. But a few things need to happen before the yellow fever cools off.
U.S. facing an economic exodus?As the United States loses ground to the emerging markets of China, India and Brazil, the opportunities that beckon may spur more Americans to seek their fortunes there.
- Farewell to Wall St.'s lost decade
The era will be remembered for two burst financial bubbles and a rogue's gallery of scoundrels who rewarded themselves well and delivered very little.
- George Weston results hurt by forex charge
TORONTO (Reuters) - George Weston Ltd <WN.TO> said on Tuesday its quarterly profit dropped 52 percent as foreign exchange charges hurt North America's largest baked goods maker.
- BMO posts higher profit, to buy Diners Club NA
TORONTO (Reuters) - Bank of Montreal <BMO.TO> reported a higher-than-expected quarterly profit on Tuesday and said it was buying the Diners Club North America credit card business to double its corporate card portfolio.
- Citigroup to sell BMO a Diners Club business
NEW YORK (Reuters) - Citigroup Inc <C.N> said it agreed to sell its Diners Club North America credit card business to Canada's BMO Financial Group <BMO.TO> as it sheds unwanted assets and focuses on its main units.
- Porsche aims to end Magna's Boxster contract: source
STUTTGART (Reuters) - Germany's Porsche aims to cancel a deal that would have Canada's Magna build the Porsche Boxster model series under contract, a source familiar with the situation told Reuters.
GM pays back Germany, signals fewer job cutsDUESSELDORF/BERLIN (Reuters) - General Motors <GM.UL> has paid back a loan from Germany and slightly lowered its target for job cuts at struggling European unit Opel.
- Western Coal says aware of potential lawsuit in Ontario
LONDON (Reuters) - Western Coal Corp said it was aware of a proposed class action lawsuit that alleges inaccurate disclosure in the group's second-quarter 2007 financial report.
- Manulife to buy China fund manager stake
TORONTO (Reuters) - Canada's top life insurer Manulife Financial Corp <MFC.TO> said late on Monday it agreed to buy a 49 percent stake in ABN AMRO TEDA Fund Management Co in China for $156 million in cash, following up on pledges to hit the acquisition trail.
- N.Y. sentencing of Canadian insider trader delayed
NEW YORK (Reuters) - A Canadian attorney behind what U.S. prosecutors describe as the largest insider trading scheme in Canadian history was denied entry to the United States and could not be sentenced on Monday.
- Slump chops 4.3 per cent from Canadian living standards: report
OTTAWA - A new independent economic analysis shows Canada's recession has been longer and deeper than the official record indicates.
- RBC survey finds majority of DB pension sponsors worried about future
TORONTO - The overwhelming majority of sponsors of defined benefit pension plans in Canada are at least somewhat pessimistic about their ability to meet future obligations, RBC Dexia Investor Services said Monday.
Investing in classic cars can be fun - but extreme caution is called forTORONTO - It might be tremendously satisfying to pick just the right stock or beat the composite index, but investing is not usually on most people's list of fun things to do.
- Consumers need to prepare for higher mortgage rates next year: advisers
TORONTO - The Canadian housing market has seen a stronger and faster rebound from the recession than any other segment of the economy, due in large part to enticingly low mortgage rates.
Be generous tipper without overspending; holiday tips don't have to wipe you outNEW YORK - This holiday season, a leaner budget might clarify which people truly make a difference in your life. The challenge will be figuring out how much to tip them.
Shoppers and retailers prepare for a tough holiday shopping seasonTORONTO - Shopping malls across the country are decked with sales as the holiday season gets underway, but even with plenty of fanfare, both retailers and shoppers seem to be reining in their expectations.
- Silver could have more upside than gold due to industrial applications: advisers
TORONTO - Much has been said about the upside potential of gold, which has rocketed to new highs in recent weeks amid inflation concerns, but advisers say investors shouldn't ignore the yellow metal's less popular cousin, silver.
- Layoffs, telecommuting let small businesses to downsize real estate, save money
NEW YORK - There's a downsizing trend under way at many small businesses: Moving to smaller offices because of shrinking staffs and as more workers telecommute.
Stocks open weak as U.S. third quarter GDP growth revised downwardTORONTO - North American stock markets got off to a weak start Tuesday after data showed weaker than expected economic growth in the U.S. during the third quarter.
- Action Economics morning alert
(Action Economics) - 05:59 EST Oil prices are little changed ahead of tomorrow's U.S. Energy Department report, which is expected that stockpiles rose 1.5m barrels in the week ending November 20, according to a Bloomberg survey.
- Canadian Economic Calendar
(Action Economics) - A look at upcoming economic events in Canada:
- U.S. Economic Calendar
(Action Economics) - A look at upcoming economic events in the U.S.:
- British sterling FX trader
(Action Economics) - 24-Nov-09 10:39 - GBP traded on the heavy side over the BoE hearing to the Treasury Committee.
- Japanese Yen FX trader
(Action Economics) - 24-Nov-09 05:36 - JPY was range bound in Asia, with USD-JPY hemmed in by good two-way order flow.
- US Dollar FX trader
(Action Economics) - 23-Nov-09 18:03 - The dollar maintained a softer tone through mid morning in N.Y.
- Australian dollar FX trader
(Action Economics) - 24-Nov-09 05:38 - AUD-USD came under pressure after it keyed off the broad reduction in risk.
- Stocks head to flat open as U.S. third quarter GDP growth revised downward
TORONTO - North American markets looked to open little changed Tuesday after data showed the U.S. economy grew at an annual rate of 2.8 per cent during the third quarter.
Bank of Montreal Q4 profit rises to $647 million; revenue rises to $3 billionTORONTO - Bank of Montreal (TSX:BMO) said Tuesday its latest quarterly profit rose 16 per cent from the year-earlier level as revenues increased, provisions for loan losses were reduced and its Canadian operations showed strong profit growth.
GM Europe chief in Germany: Opel plan to be put to unions this week, 9,500 job cuts expectedDUESSELDORF, Germany - General Motors Co. will present to unions on Wednesday its restructuring plan for the Opel unit, expected to include up to 9,500 job cuts, the carmaker's top official in Europe said Tuesday.
H.J. Heinz posts lower 2nd-quarter profit; sales increase; lifts full-year earnings outlookPITTSBURGH - H.J. Heinz Co.'s second-quarter profit dropped 16 per cent from last year, when the company's results were boosted by currency shifts.
- EI recipients rise 7.1% in September, up 63% from a year ago: StatsCan
OTTAWA - The number of people receiving regular Employment Insurance benefits rose by 54,300, or 7.1 per cent in September after two months of declines.
- BMO Financial to acquire Diners Club North American franchise From Citigroup
TORONTO - BMO Financial Group (TSX:BMO) says it has agreed to buy the Diners Club North American franchise from Citigroup.
- Asian stock markets lower as China's bank warning hits financials; European shares fall
BANGKOK, Thailand - Asian stock markets retreated Tuesday as China's warning to banks to control their lavish lending underlined the risks to an economic recovery driven by easy credit. European shares were lower.
- Oil slips to near $77 in Asia as investors eye US dollar, crude demand
SINGAPORE - Oil slipped to near US$77 a barrel Tuesday in Asia amid mixed signs about the global economy and crude demand.
