April 18th, 2014

Business

Mobilicity says Telus to acquire company for $350 million in proposed sale

By The Canadian Press on April 18th, 2014

TORONTO – Mobilicity says it has agreed to be purchased by Telus Corp. (TSX:T) for $350 million. Mobilicity says the proposed sale is subject to approval by the Ontario Superior Court of Justice, the Competition Bureau, Industry Canada, and Mobilicity’s debtholders. Telus has twice tried to buy struggling Mobilicity, but both times the deal was ... Read More »

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Record labels sue Internet radio provider Pandora over royalties for songs from before 1972

By The Associated Press on April 17th, 2014

NEW YORK, N.Y. – Major record labels are suing Internet radio giant Pandora for copyright infringement for using songs recorded before 1972 without paying license fees. The labels, including divisions of Sony, Warner and Universal, argue that songs such as Aretha Franklin’s “Respect” and the Beatles’ “Hey Jude” are not covered by federal copyright law, ... Read More »

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Oil rises past $104 a barrel as Ukraine jiggers offset large rise in US crude supplies

By The Associated Press on April 17th, 2014

NEW YORK, N.Y. – The price of oil rose past US$104 per barrel Thursday on worries over the upheaval in Ukraine. Benchmark West Texas Intermediate crude for May delivery rose 54 cents to close at US$104.30 a barrel in New York. Supplies in the U.S. are ample – the Energy Department reported the biggest gain ... Read More »

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Housing correction would damage Canada’s economy, says BMO report

By Julian Beltrame, The Canadian Press on April 17th, 2014

OTTAWA – A sudden and sharp correction in the housing market could have a devastating impact on the Canadian economy overall, enough to trigger another recession, says a new Bank of Montreal report. The analysis by senior economist Sal Guatieri finds that even a 10 per cent correction – what many would call a soft ... Read More »

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TSX advances amid mixed bag of U.S. earnings reports, positive economic data

By Malcolm Morrison, The Canadian Press on April 17th, 2014

TORONTO – The Toronto stock market was higher Thursday as stocks continued to find lift from positive Chinese and U.S. economic data during this week, along with a generally positive slate of earnings news. The S&P/TSX composite index climbed 51.68 points to 14,498.2, led by gains in energy and mining companies. The Canadian dollar advanced ... Read More »

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Facebook launches location-sharing feature ‘Nearby Friends’ with lots of precautions

By Barbara Ortutay, The Associated Press on April 17th, 2014

NEW YORK, N.Y. – Facebook users in the U.S. will soon be able to see which of their friends are in close proximity using a new feature the company is launching on Thursday. Called “Nearby Friends,” the optional tool will only be available to people who choose to turn it on. The feature uses your ... Read More »

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Telecom company Rogers doles out nearly $40 million on its two CEOs in 2013

By The Canadian Press on April 17th, 2014

TORONTO – Rogers Communications (TSX:RCI.B) doled out nearly $40 million last year paying the two executives who held the top position at the telecom company. Guy Lawrence, who only stepped into the CEO role on Dec. 2, made a total of $12.7 million in 2013, according to figures disclosed in Rogers’ annual report. Retired CEO ... Read More »

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