Locked out workers in small northern Manitoba town struggling to make ends meet 
PINE FALLS, Man. — Many people in the small Manitoba town of Pine Falls say they are struggling to make ends meet since Quebec-based Tembec Inc. locked employees out of its paper mill on Sept. 1.
Already 10 families have packed up and left town.
“My best friend came over... (more)
19/11/09 11:21 PM
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OECD raises growth forecasts for developed economies, recovery to remain fragile
PARIS — The world’s rich and developed economies will grow faster next year, but recovery will remain modest, with the U.S. and Japan outpacing Europe, a Paris-based watchdog said Thursday as it raised its forecasts.
The Organization for Economic Co-operation and Development mo... (more)
19/11/09 11:21 PM
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One Exploration net loss widens in third quarter, sales down from year-ago
CALGARY — One Exploration Inc. (TSXV:OE.B) suffered the heavy impact of low natural gas prices during the third quarter, causing it to widen its net loss from year-ago levels.
The oil and gas junior reported a net loss of $2.3 million or four cents per share in the quarter ended Sept... (more)
19/11/09 11:21 PM
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Sears posts narrower 3Q loss as customers spend money elsewhere
HOFFMAN ESTATES, Ill. — Sears Holdings Corp. said Thursday it lost money for the second consecutive quarter as customers spent elsewhere even as the retailer offered a series of early holiday season promotions to bring them back to its brands.
The company led by hedge fund financier ... (more)
19/11/09 11:21 PM
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Sony chief executive outlines turnaround plan toward profit in gaming, TVs
TOKYO — Sony says it will become profitable in its gaming and flat-panel TV businesses by the fiscal year ending March 2011, as the electronics giant moves ahead with cutting costs and boosting earnings.
Sony Corp.’s strategy for a turnaround was outlined by Chief Executive How... (more)
19/11/09 11:21 PM
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Yellow Pages to issue $300M in notes to repay debt and for general purposes
MONTREAL — Yellow Pages Group (TSX:YLO.UN) announced Wednesday a plan to raise $300 million in an offering of notes that will be used to repay other debt and for general corporate purposes.
The directory publisher said it will issue $300 million of 7.75 per cent notes, which will mat... (more)
19/11/09 11:21 PM
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GMAC CEO steps down amid talks for more gov’t aid, Michael Carpenter is new CEO
NEW YORK — GMAC Financial Services said Monday that Alvaro de Molina has stepped down as CEO, a surprise departure that comes as the troubled auto lender remains in negotiations with the government over its third round of taxpayer aid.
A person familiar with the situation said De Mol... (more)
17/11/09 9:11 AM
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Officials mismanaged AIG bailouts, may have overpaid to stabilize company, watchdog says
WASHINGTON — Officials managing the multibillion dollar bailout of insurance giant American International Group Inc. bungled the first rescue and may have overpaid other banks to wind down AIG’s business relationships, a government watchdog says.
The Federal Reserve Bank of New... (more)
17/11/09 9:09 AM
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Microsoft co-founder Paul Allen diagnosed with non-Hodgkin’s lymphoma, undergoing chemotherapy
SEATTLE — Microsoft Corp. co-founder and billionaire investor Paul Allen has been diagnosed with non-Hodgkin’s lymphoma and is undergoing chemotherapy.
In a memo sent to employees, Jody Allen, Paul Allen’s sister and the CEO of his investment firm Vulcan Inc., said the 56... (more)
17/11/09 9:05 AM
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Russia’s Gazprom says its exports to Europe to rise 13 pct in 2010, defends long-term deals
MOSCOW — Depressed natural gas consumption in Europe will rise next year and the surplus of gas will disappear in 2011, boosting prices, Gazprom deputy chief executive Alexander Medvedev said Tuesday.
The world’s largest natural gas producer plans to ship 160.8 billion cubic me... (more)
17/11/09 9:04 AM
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Vale SA settles with Brazilian workers as Canadian strike continues
SUDBURY, Ont. — Vale SA says it has settled contracts with 14 unions representing 40,000 workers at its operations in Brazil.
The agreements come as a strike continues by some 3,500 workers at Vale Inco operations, primarily in the Sudbury, Ont., area.
The United Steelworkers ... (more)
17/11/09 9:02 AM
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Hanwei Energy Services posts loss in third quarter after year-ago profit
VANCOUVER — Hanwei Energy Services Corp. (TSX:HE) says its posted a loss in the third quarter which was driven by the timing of wind power deliveries and the writedown of a capital investment.
The Vancouver-based company reported a net loss of $258,000 or nil per share for the third ... (more)
17/11/09 9:01 AM
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Home Depot earnings fall 8.9 per cent; raises outlook amid signs of real estate stabilization
ATLANTA — Home Depot Inc.’s third-quarter earnings fell 8.9 per cent as the housing and renovation markets remained weak, the nation’s largest home improvement retailer said Tuesday.
The company also raised its full-year earnings outlook as the quarter’s earnings to... (more)
17/11/09 8:59 AM
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Cantronic Systems offers $8M in private placement financing
VANCOUVER — Cantronic Systems Inc. (TSXV:CTS) said Tuesday it was making a private placement offering of up to $8 million in unsecured convertible debentures and common shares to generate funds for working capital and general corporate purposes.
The financing lead by Versant Partners... (more)
17/11/09 8:58 AM
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Bombardier expands services at Dubai parts depot to commercial aircraft
DUBAI, United Arab Emirates — Bombardier Aerospace (TSX:BBD.B) is expanding services at its Dubai parts depot to meet the demands of customers in the Middle East.
The facility at the Dubai International Airport will be equipped in coming months to meet the parts requirements of the C... (more)
16/11/09 11:38 AM
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