July 22nd, 2014

Business

Oil slips slightly, but geopolitical tensions seen preventing any significant declines.

By Pablo Gorondi, The Associated Press on July 22nd, 2014

The price of oil fell slightly Tuesday but experts see geopolitical tensions preventing any significant short-term declines. Benchmark West Texas Intermediate crude for August delivery fell 17 cents to US$104.42 a barrel on the New York Mercantile Exchange. The more heavily traded September contract slipped 47 cents to US$102.39. Brent crude for September delivery, a ... Read More »

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Agropur to double U.S. dairy processing with deal for Davisco Foods assets

By Ross Marowits, The Canadian Press on July 22nd, 2014

MONTREAL – Agropur, Canada’s largest dairy co-operative, will double its U.S. processing operations with a deal to buy the dairy processing assets of Davisco Foods International, its third acquisition this month. “With over US$1 billion in annual sales, this acquisition is by far the largest transaction in Agropur’s 76-year history,” president Serge Riendeau said Tuesday ... Read More »

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Analysts say Rogers job cuts could be good if they lead to revitalization

By David Paddon, The Canadian Press on July 22nd, 2014

TORONTO – With Rogers Communications Inc. (TSX:RCI.B) confirming that it has eliminated “several hundred middle management positions” as part of its Rogers 3.0 corporate revitalization plan, analysts say the Toronto-based company’s new CEO Guy Laurence is taking necessary steps to shake up the company after a period of stagnation. “Quite frankly, what do you do ... Read More »

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AER says more spill safeguards needed before Primrose returns to normal

By The Canadian Press on July 22nd, 2014

CALGARY – The Alberta Energy Regulator says Canadian Natural Resources Ltd.’s (TSX:CNQ) Primrose oilsands project in northeastern Alberta won’t be returning to normal full operations any time soon. Jim Ellis, who heads up the provincial energy watchdog, says it won’t allow a return to business as usual until all of the risks have been addressed ... Read More »

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CN earnings help lift TSX to record high as tensions over downed jetliner ease

By Malcolm Morrison, The Canadian Press on July 22nd, 2014

TORONTO – A strong earnings report from Canadian National Railway helped push the Toronto stock market to a fresh record high close Tuesday as traders put geopolitical concerns aside for the moment and concentrated on the health of corporate North America. The S&P/TSX composite index gained 65.14 points to 15,315.13. Canadian National Railway (TSX:CNR) beat ... Read More »

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Air Canada cancels Toronto-to-Tel Aviv flight after rocket explosion

By The Canadian Press on July 22nd, 2014

TORONTO – Air Canada cancelled a scheduled flight from Toronto to Tel Aviv on Tuesday, joining many U.S. and European airlines that were prohibited from flying to Israel’s main airport following a rocket explosion. Flight AC84 had been scheduled to depart from Toronto’s Pearson International Airport at 6:10 p.m. “We will continue to evaluate the ... Read More »

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European Aviation Safety Agency ‘strongly recommends’ airlines avoid Tel Aviv airport

By The Associated Press on July 22nd, 2014

BERLIN – The European Aviation Safety Agency says it “strongly recommends” that airlines refrain from operating flights to and from Tel Aviv. The recommendation by Europe’s main aviation safety body came after the U.S. Federal Aviation Administration told U.S. airlines they are prohibited from flying to Israel’s Ben Gurion airport for 24 hours following a ... Read More »

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Stocks advance as tensions over downed jetliner ease, traders look to earnings

By Malcolm Morrison, The Canadian Press on July 22nd, 2014

TORONTO – A strong earnings report from Canadian National Railway helped push the Toronto stock market higher Tuesday as traders put geopolitical concerns aside for the moment and concentrated on the health of corporate North America. The S&P/TSX composite index gained 87.3 points to 15,337.29. Canadian National Railway (TSX:CNR) beat expectations as its second-quarter profit ... Read More »

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Airlines cancel flights to Israel after rocket falls near Tel Aviv airport

By The Associated Press on July 22nd, 2014

In a sign of increased caution about flying near combat zones, U.S. and European airlines halted flights to Israel Tuesday after a rocket landed near Tel Aviv’s Ben Gurion Airport. Delta Air Lines and United Airlines suspended service between the U.S. and Israel indefinitely. US Airways scrapped its one flight to Tel Aviv Tuesday. Germany’s ... Read More »

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European airlines Air France, Lufthansa suspend all flights to Tel Aviv over safety concerns

By The Associated Press on July 22nd, 2014

BERLIN – Germany and France’s largest airlines Lufthansa and Air France say they’re suspending all flights to Tel Aviv over safety concerns amid the increasing violence. Lufthansa said Tuesday evening that it was suspending all Tel Aviv flights for 36 hours, including those operated by subsidiaries Germanwings, Austrian Airlines and Swiss. The company says it ... Read More »

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