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Cross-border shopping a $20B economic drain

Submitted on May 17, 2012 - 9:00pm

Cross-border shopping is costing the Canadian economy much more than believed and new rules raising duty-free limits will only make matters worse, says a new report by the Bank of Montreal.

Conrad Black denies seeking 'special treatment'

Submitted on May 17, 2012 - 7:00pm

Former media baron Conrad Black denies requesting "special treatment" from the Harper Conservatives to return to Canada on a temporary resident permit after his release from a Florida prison earlier this month.

Environmental review panels will set witnesses, MPs told

Submitted on May 17, 2012 - 5:22pm

Panel members will decide who will be allowed to appear at future environmental reviews on a "case-by-case, project-by-project" basis, a sub-committee looking into the government's budget implementation bill heard this morning.

Crop report: SK farmers jumped ahead for seeding this week

Submitted on May 17, 2012 - 5:04pm

Crop report: SK farmers jumped ahead for seeding this week
By Joel Gasson paNOW staff

April showers bring May seeding, the hot summer weather has pushed farmers ahead of schedule for seeding.

When the rain finally stopped, Saskatchewan farmers got a big jump on seeding this week. 22 per cent of the provinces' crops are in the ground compared to five per cent last week. This is ahead of the five year average of 18 per cent for this time of year.

Facebook prices IPO at $38 US

Submitted on May 17, 2012 - 3:42pm

Social networking giant Facebook has priced its initial public offering at $38 US a share, making it the largest internet IPO. Shares will begin trading on the Nasdaq tomorrow.

Moody's cuts 16 Spanish banks

Submitted on May 17, 2012 - 3:34pm

Ratings agency Moody's Investors Services downgraded 16 Spanish banks Thursday, the same day as the government of Spain denied rumours customers had moved to take their deposits out of a bank it recently nationalized.

Canadian Pacific launches CEO search

Submitted on May 17, 2012 - 3:29pm

The search for a new boss at Canadian Pacific Railway Ltd. is underway after an activist hedge fund succeeded in its months-long battle to oust CEO Fred Green, a 34-year veteran of the iconic Canadian company.

CPP posts 6.6% return for the year

Submitted on May 17, 2012 - 3:10pm

Canada's national pension plan had $161 billion in assets at the end of its recently-completed fiscal year, up from $148 billion the previous year.

Does Facebook have staying power?

Submitted on May 17, 2012 - 2:52pm

Facebooks first sharing offering, expected Friday, could end up valuing the social media site at over $100 billion. But market capitalization aside, will Facebook remain the be-all of online interaction?

Sears cuts stake in Canadian unit

Submitted on May 17, 2012 - 1:57pm

Sears Canada says its U.S. parent will dramatically reduce its holdings in the troubled department store chain and may sell all of its stake.

Blockupy protesters target Europe's austerity measures

Submitted on May 17, 2012 - 1:56pm

Police in Frankfurt were preparing for as many as 30,000 protesters to join in the so-called "Blockupy" demonstration underway in Germany's financial capital.

Old Age Security affordable without changes, watchdog says

Submitted on May 17, 2012 - 1:44pm

Canada can afford its Old Age Security system without making younger Canadians wait an extra two years to receive benefits, Parliamentary Budget Officer Kevin Page said in a report Thursday.

Dartmouth refinery up for sale

Submitted on May 17, 2012 - 1:06pm

Imperial Oil plans to shop its refinery in Dartmouth, N.S., and related supply agreements to prospective buyers in the coming months.

Don't like high credit card fees? Then don't use them

Submitted on May 17, 2012 - 11:15am

A tribunal has begun to decide whether the credit card companies or retailers are to blame for high prices in Canadian stores.

Timber supply review launched by B.C. government

Submitted on May 17, 2012 - 11:10am

A special government committee will examine British Columbia's timber supply after a leaked report warned about thousands of job losses due to a declining amount of wood caused by the ravages of the pine beetle epidemic.

U.S. leading indicators dip

Submitted on May 17, 2012 - 10:37am

A measure of future U.S. economic activity fell in April after six months of increases. The drop reflected fewer requests for building permits and a temporary spike in applications for unemployment benefits.

EI study asked recipients to consider moving

Submitted on May 17, 2012 - 8:36am

A new study from the Human Resources Department suggests Ottawa was looking at ways to motivate employment insurance recipients to move to places with more jobs, but the minister's office says she isn't considering it.

Enbridge plans reversal of oil pipeline to supply central Canada

Submitted on May 17, 2012 - 7:18am

Enbridge is planning to reverse the flow of a key oil pipeline to boost the supply of Western Canadian oil to markets in Ontario and Quebec.

Oil a net benefit to Canada, studies suggest

Submitted on May 16, 2012 - 9:20pm

The debate over the benfits of oil exports to Canada's economy continued Wednesday with the release of two reports, one which tried to debunk the notion they hurt manufacturing in central Canada and another that found sudden price spikes are a net negative.

Shops revive Irish pound amid economic woes

Submitted on May 16, 2012 - 7:24pm

Shop owners in Clones, a small town in Ireland, are embracing a currency that's been out of circulation for a decade in a bid to boost business.

Canada's environmental standards lagging, advisory panel says

Submitted on May 16, 2012 - 7:21pm

Research by the soon-to-be axed National Round Table on the Environment and the Economy warns that Canada is behind on international business standards for greener technologies, as well as emissions standards to reduce the climate change impact of long-term infrastructure.

Spain, Greece, continue to worry investors

Submitted on May 16, 2012 - 2:58pm

Europe's debt crisis threatened to further undermine Spain's ability to borrow Wednesday, as lenders demanded yields that neared the seven per cent level that forced Greece, Ireland and Portugal to accept bailouts.

Chrétien urges closer China and Canada ties

Submitted on May 16, 2012 - 2:55pm

Jean Chrétien cemented trade relations with China in the 1990s, bonds he continues to strengthen as a private citizen. Catherine Mercier sat down for an exclusive interview with the former prime minister.

Federal Reserve moves closer to more stimulus

Submitted on May 16, 2012 - 2:37pm

Federal Reserve policymakers are open to further efforts to stimulate the U.S. economy if growth falters or threats escalate.

Canadians to get opt-out tool for history-tracking web ads

Submitted on May 16, 2012 - 1:52pm

Canadians who get creeped out by web ads that seem to know a little too much about their personal habits should have access in the coming months to an opt-out tool that will help fight the effect of so-called behavioural advertising.

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