Business News

TSX steps back despite higher oil prices; AIG report, record oil depresses NY

TORONTO - The Toronto stock market racked up a moderate loss mid-afternoon Friday as energy stocks took a break despite crude oil prices running ahead to fresh dizzying heights. Investors took in n...

GMP Capital Trust Q1 profit halved to $21M; revenue off 18 per cent to $94.1M

TORONTO - GMP Capital Trust (TSX:GMP.UN) should be well-positioned for growth in future quarters, given its strong balance sheet, CEO Kevin Sullivan told unitholders Friday after the investment house ...

Gasoline jumps above US$3.67, oil passes US$126 on Venezuela concerns

NEW YORK - Oil rose above US$126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezue...

MDA future dim after space division sale blocked, analysts say

VANCOUVER - Ottawa's confirmation it will block the $1.3-billion sale of MacDonald Dettwiler and Associates Ltd.'s (TSX:MDA) space division, coupled with a slowdown in the real estate sector where the...

High Liner Foods net income $7.2 million in '07; CEO predicts price hikes

HALIFAX - Canadians should expect to pay more for food given the increase in commodity and fuel costs worldwide, the CEO of fish processor High Liner Foods Inc. (TSX:HLF) said Friday. "Frankly, Can...

Canadian Pacific engineering steps to ensure steady flow of grain: CEO

CALGARY - Canadian Pacific Railway Ltd. (TSX:CP) is taking steps to make sure grain and other high-demand commodities flow more smoothly across the continent, the company's chief executive said Friday...

Enerplus reports first quarter profits rise to $121.4 million from $107.9 million

CALGARY - Enerplus Resources Fund (TSX:ERF.UN), a Calgary-based oil and gas trust, reports its first quarter profits rose to $121.4 million from $107.9 million on higher output and impact of Focus Ene...

Power Corporation of Canada raising dividend despite lower investment gains

MONTREAL - Power Corporation of Canada (TSX:POW) is raising its quarterly dividend by 20 per cent, the holding company announced Friday along with its first-quarter financial report, which included hi...

Agnico-Eagle bullish about prospects with new mines coming onstream: CEO

TORONTO - The chief executive of Agnico-Eagle Mines Ltd. (TSX:AEM) says the mid-tier miner is poised for strong growth this year as more projects come on stream alongside an anticipated return to clim...

Crescent Point posts Q1 loss of $41.5M, reversing year-ago profit of $157.5M

CALGARY - Crescent Point Energy Trust (TSX:CPG.UN) posted a first-quarter loss of $41.5 million on Friday, reversing year-ago profit of $157.5 million. The Calgary-based trust's funds from operatio...