CJBK - Business News

EU widens Billiton-Rio Tinto antitrust probe into acquisition deal

Sat, 05 Jul 2008 00:30:28 +0000

BRUSSELS, Belgium - The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concern...

Oil prices fall more than US$1 a barrel on hopes Iran nuclear tensions could ease

Fri, 04 Jul 2008 23:40:10 +0000

Oil prices fell more than US$1 a barrel Friday from record levels set a day earlier on hopes that tensions surrounding Iran's nuclear program could ease and cut the chances of American or Israeli mili...

Societe Generale fined $6.3 million over Jerome Kerviel trading scandal

Fri, 04 Jul 2008 23:40:13 +0000

PARIS - France's central bank announced Friday that it has fined Societe Generale US$6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses a...

Challenges abound for India if it makes $2.5-billion oilsands investment

Fri, 04 Jul 2008 23:40:12 +0000

CALGARY - India's state-owned firm may be keen on making a $2.5-billion investment in Alberta's oilsands, but one analyst wonders how far that money will go. "I think at the end of the day their ch...

Energy helps send TSX down 133 points as BCE takeover price confirmed

Fri, 04 Jul 2008 22:37:25 +0000

TORONTO - The Toronto stock market closed lower Friday as energy stocks continued to retreat, but losses on the TSX were sharply pared because of a jump in BCE Inc. (TSX:BCE) shares after the telecom ...

BCE and Teachers takeover group confirm $42.75 per share acquisition price

Fri, 04 Jul 2008 21:26:10 +0000

TORONTO - Telecom giant BCE Inc. has cleared the financing hurdle widely seen as the last major step in completing its $52 billion acquisition by the Ontario Teachers' Pension Plan in the largest corp...

Crude oil prices fall more than US$1 a barrel and Iran tensions ease

Fri, 04 Jul 2008 21:00:14 +0000

Number of bankruptcies drops in May, superintendent reports

Fri, 04 Jul 2008 20:09:41 +0000

OTTAWA - New figures show that bankruptcies dropped in May. The Office of the Superintendent of Bankruptcies is reporting 7,918 bankruptcies in May, down from 8,627 in April and 8,008 in May 2007. ...

SocGen fined US$6.3 million over Jerome Kerviel trading scandal

Fri, 04 Jul 2008 19:51:01 +0000

PARIS - France's central bank has fined Societe Generale US$6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this yea...

G8 leaders set to meet as economy storm clouds continue to thicken

Fri, 04 Jul 2008 19:51:00 +0000

SAPPORO, Japan - Between surging oil prices, food inflation and a credit crunch that's depressed global growth, leaders from the G8 economic powers face the gravest combination of economic woes in at ...

Energy stocks pressure TSX;BCE surges on approval of $42.75 sale price

Fri, 04 Jul 2008 19:21:12 +0000

TORONTO - The Toronto stock market pared early losses but remained in the red Friday afternoon, with a jump in the stock of BCE Inc. (TSX:BCE) providing major support after the telecom company reached...

Total E&P Canada extends offer for Synenco Energy, gets regulatory approval

Fri, 04 Jul 2008 18:57:10 +0000

CALGARY - Total E&P Canada Ltd. has extended to July 15 its $9-cash-per-share offer to buy all common class A voting shares of Synenco Energy Inc. (TSX;SYN) after failing to obtain the required two-th...

Cordero Energy agrees to be taken over by Ember Resources for $5.50 per share

Fri, 04 Jul 2008 17:30:59 +0000

CALGARY - Cordero Energy Inc. (TSX:COR) has formally accepted a $206-million acquisition bid from Ember Resources Inc. (TSX:EBR), ending a takeover battle that saw the junior gas producer pursued by E...

Chrysler looks at China alliance to boost global business

Fri, 04 Jul 2008 17:31:10 +0000

BEIJING - Chrysler LLC, looking for foreign partnerships to help drive its business as U.S. sales slump, announced a deal with China's Great Wall Motor Co. on Friday to study sharing technology, compo...

Resource stocks punish TSX; BCE up strongly as $42.75 buyout price confirmed

Fri, 04 Jul 2008 17:30:56 +0000

TORONTO - Falling energy stocks led the way to a negative session on the Toronto stock market Friday morning but losses were limited by a 13 per cent runup in BCE Inc. (TSX:BCE) shares. The telecom...