August 30th, 2014

Business

Swedish firm no longer wants to be recipient of first Bombardier CSeries plane

By Julien Arsenault, The Canadian Press on August 29th, 2014

MONTREAL – Swedish company Braathens Aviation says it no longer wants to be the first recipient of Bombardier’s new CSeries commercial passenger jet because of uncertainty surrounding the program. The aircraft has been grounded because of an engine incident three months ago. “It has subsequently emerged that this may cause another delay to the CSeries ... Read More »

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Porter Aviation puts Toronto island terminal up for sale; eyeing expansion plans

By Linda Nguyen, The Canadian Press on August 29th, 2014

TORONTO – Porter is looking for buyers for its passenger terminal at the island airport in Toronto. Porter Aviation Holdings, the parent company of the regional airline that is the main tenant at the Billy Bishop airport, said Friday a sale-leaseback deal would allow it to focus on its core business. “The proceeds from the ... Read More »

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Mining stocks take TSX higher, N.Y. up modestly amid glum spending data

By Malcolm Morrison, The Canadian Press on August 29th, 2014

TORONTO – The Toronto stock market erased early losses to close higher Friday as investors bought into beaten-down mining stocks. The S&P/TSX composite index closed 67.56 points higher at 15,625.73. The Canadian dollar was down 0.22 of a cent at 91.97 cents US amid data that also showed stronger than expected Canadian economic growth. Statistics ... Read More »

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Standard & Poor’s 500 edges higher to close at record high; Avago soars on earnings

By The Associated Press on August 29th, 2014

The Standard & Poor’s 500 is ending the week at a record high after a day of quiet trading. Chip maker Avago Technologies jumped nearly 8 per cent after reporting earnings that beat analysts’ estimates. The latest reports on the U.S. economy were mixed. Consumer sentiment improved in August, while spending fell and income growth ... Read More »

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Canadian banks enjoy strong earnings boosted by sizzling stock markets

By Linda Nguyen, The Canadian Press on August 29th, 2014

TORONTO – Red hot stock markets have helped generate big profits at Canadian banks this year, with nearly all of the country’s largest lenders reporting record third-quarter results this week. Canada’s largest bank, Royal Bank (TSX:RY), kicked off the slew of bank earnings on Aug. 22, as it reported profits that grew by four per ... Read More »

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Mining stocks take TSX higher, N.Y. mixed amid glum spending data

By Malcolm Morrison, The Canadian Press on August 29th, 2014

TORONTO – The Toronto stock market erased early losses to move higher Friday afternoon as investors bought into beaten-down mining stocks. The S&P/TSX composite index was 71.72 points higher to 15,629.89. The Canadian dollar was down 0.17 of a cent at 92.02 cents US amid data that also showed stronger than expected Canadian economic growth. ... Read More »

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Porter Aviation puts Billy Bishop Toronto City Airport terminal up for sale

By The Canadian Press on August 29th, 2014

TORONTO – Porter Aviation Holdings Inc. says it’s putting its passenger terminal at the Billy Bishop Toronto City Airport up for sale. The regional airline said a sale-leaseback deal would allow the company to focus on its core business, Porter Airlines. Porter chief commercial officer Michael Deluce said the company expects the whole process to ... Read More »

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Andrew Garfield fights to save his home in Venice Film Festival drama ’99 Homes’

By Jill Lawless, The Associated Press on August 29th, 2014

VENICE, Italy – Florida’s realtors and tourism authorities will probably not be using “99 Homes” in their promotional material. The Sunshine State looks pretty shady in Ramin Bahrani’s Orlando-set drama, one of 20 films competing for prizes at the Venice Film Festival. The movie stars Andrew Garfield as an evicted construction worker who sells his ... Read More »

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Canadian dollar dips, economic growth rebounds strongly from weak first quarter

By Malcolm Morrison, The Canadian Press on August 29th, 2014

TORONTO – The Canadian dollar was slightly lower late morning Friday amid data which showed the economy grew more than expected in the second quarter. The loonie shed early gains to move down 0.08 of a cent to 92.11 cents US as Statistics Canada reported gross domestic product ran up at an annual rate of ... Read More »

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Stocks decline amid geopolitical worries centred around Ukraine, mixed data

By Malcolm Morrison, The Canadian Press on August 29th, 2014

TORONTO – The Toronto stock market was lower as traders played it cautious going into the long Labour Day weekend amid fears of a wider Russian invasion into Ukraine and a big letdown in U.S. consumer spending data. The S&P/TSX composite index dropped 31.83 points to 15,526.34. The Canadian dollar gained 0.03 of a cent ... Read More »

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