Business RSS
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Jennifer Lopez to open cellphone stores aimed at Latinos, selling Verizon service
NEW YORK, N.Y. – “Jenny from the Block” wants the block to buy Verizon phones from her. Singer and actress Jennifer Lopez on Wednesday announced she’s opening a chain of 15 cellphone stores and a website under the Viva Movil brand. The aim is to sell Verizon phones and services to Latinos. The first store
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Stocks fall after Fed minutes show policymakers had weighed a pullback on its stimulus program
NEW YORK, N.Y. – Stocks are closing lower on news that several Federal Reserve policymakers favoured cutting back on stimulus programs as early as June if the economy continues to improve. The release of minutes of the Fed’s April 30-May 1 meeting reversed a surge earlier in the day. The Dow Jones industrial average fell
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Oil falls near $94 on small decline in supplies, signs of weak demand for gas
NEW YORK, N.Y. – The price of oil fell near US$94 a barrel Wednesday as U.S. crude oil supplies fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined $1.90 to close at $94.28 a barrel on the New York Mercantile Exchange. The U.S. Energy Department said U.S. oil
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Fed minutes showed some officials willing to consider trimming bond purchases as early as June
WASHINGTON – Several Federal Reserve policymakers this month favoured slowing the Fed’s efforts to maintain record-low long-term interest rates as early as June — if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains. Minutes of the Fed’s April 30-May 1 meeting released Wednesday
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Stocks rise after Bernanke signals no quick end to stimulus and home sales rise
NEW YORK, N.Y. – Stocks are moving higher after Federal Reserve Chairman Ben Bernanke said it was too soon for the central bank to pull back on its massive economic stimulus programs. Investors were also encouraged by news that sales of previously occupied U.S. homes rose last month to the highest level in three and
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Rail line reopens in southeastern Saskatchewan after derailment that spilled oil
JANSEN, Sask. – A rail line has reopened in southeastern Saskatchewan after a derailment that resulted in a spill of more than 91,000 litres of oil. Canadian Pacific Rail (TSX:CP) says the tracks near the village of Jansen have been repaired and inspections have been done. The company says cleanup is progressing and no issues
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Ski-Doo maker’s IPO price values BRP at about $2.5 billion
MONTREAL – The maker of Ski-Doo snowmobiles says its initial public offering has been priced at $21.50 per share — giving the company a market value of about $2.5 billion. BRP Inc., which will list the shares under the TSX symbol DOO, expects to generate at least $262.3 million in gross proceeds from sale of
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US home sales rise slightly to 4.97 million in April, highest in 3 1/2 years; inventories rise
WASHINGTON – Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale. The National Association of Realtors said Wednesday that sales rose to a seasonally adjusted annual rate of 4.97 million, up from 4.94
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Bernanke warns that premature ending of Fed’s stimulus efforts would carry substantial risks
WASHINGTON – Chairman Ben Bernanke is telling Congress that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs. In testimony to the Joint Economic Committee, Bernanke notes the economy is growing moderately this year and unemployment has fallen to a four-year low
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Paying bills and consumer consumption hurting Canadians’ ability to save: study
MONTREAL – Almost a third of Canadian households report never or almost never having any money left to save after paying their bills, according to a new study issued Wednesday. Households that reported no wealth accumulation tended to be working, middle-aged people — although of varying income levels, says the study by the Certified General