680News - Canadian & International Business News

Prepared Canadian companies could see growth under new parity reality

Sunny Freeman, THE CANADIAN PRESS 21 Mar, 2010 0 0

TORONTO - Parity preparations that began at Craig McIntosh's small Manitoba plastics business a decade ago have positioned the company to gain from a soaring loonie because it now buys more from the U.S. than it sells there. After returning from a cross-border fact-finding mission 10 years ago,

GM's South Korean unit recalling nearly 60,000 vehicles over possible safety problems

Kelly Olsen, THE ASSOCIATED PRESS 21 Mar, 2010 0 0

SEOUL, South Korea - General Motors is recalling nearly 60,000 automobiles in South Korea due to potential problems with steering wheels, fuel hoses and seats, the company's local unit and the government said Sunday. The recall of 58,696 vehicles will begin Monday and cover four models manufactu

Construction company in Guelph, Ont. laying off 80 workers

THE CANADIAN PRESS 20 Mar, 2010 1 0

GUELPH, Ont. - A construction company in Guelph, Ont. is laying off over 80 employees. Hitachi Construction Truck Manufacturing says it is laying off workers due to reduced demands for its dump trucks. The company says the workforce will be reduced by 20 per cent at the Woodlawn Road plant, l

British Airways crew launches 3-day strike, forcing airline to cancel thousands of flights

Jane Wardell, THE ASSOCIATED PRESS 20 Mar, 2010 0 0

LONDON - Retiree Richard Moore arrived at Heathrow with a suitcase of summer clothes for a Miami cruise only to be sent to Denver. Susan Danby wondered if plans for a joint 50th birthday celebration in Las Vegas would be a losing bet. The start of a three-day strike by cabin crew at British Airw

Fed Chairman Bernanke tries to makes case for Fed to retain role as watchdog of smaller banks

Jeannine Aversa, THE ASSOCIATED PRESS 20 Mar, 2010 0 0

WASHINGTON - Federal Reserve Chairman Ben Bernanke made a fresh pitch Saturday to retain oversight of small banks, contending that what the Fed learns from that role helps it assess the overall health of the entire U.S. financial system. Bernanke, in a speech to the Independent Community Bankers

Britain's opposition Conservative Party pledges to impose unilateral bank tax

THE ASSOCIATED PRESS 20 Mar, 2010 0 0

LONDON - Britain's main opposition Conservative Party says it will impose a new tax on banks to avoid taxpayers bearing the cost of any future bailouts if the party wins upcoming general elections. Conservative leader David Cameron says in prepared comments for a speech on Saturday that he will

Talks between British Airways, union collapse; strike affecting thousands of travellers begins

Jane Wardell, THE ASSOCIATED PRESS 20 Mar, 2010 0 0

LONDON - A three-day strike by British Airways cabin crew affecting thousands of travellers began Saturday after last-ditch talks between the airline's management and union leaders collapsed. The walkout has forced BA to cancel thousands of flights, but it still hopes to operate around 65 per ce

Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year

Marcy Gordon, THE ASSOCIATED PRESS 19 Mar, 2010 0 0

WASHINGTON - Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year. The closings follow the 140 that succumbed in 2009 to mounting loan defaults and the recession. The Federal Deposit Insurance Corp. took over First

TMX Group to reduce fees for securities trading at $1 or higher on TSX

THE CANADIAN PRESS 19 Mar, 2010 0 0

TORONTO - TMX Group Inc. (TSX:X) says it will reduce its trading fees for securities trading at $1 or higher on the Toronto Stock Exchange and the TSX Venture Exchange. The changes, which will take effect April 1, will replace the current three-tier fee structure with a simpler two-tier structur

AbitibiBowater inches towards restructuring with initial approval of union deal

Ross Marowits, THE CANADIAN PRESS 19 Mar, 2010 0 0

MONTREAL - AbitibiBowater is inching closer towards an exit from creditor protection after some union workers in Quebec approved concession-filled tentative agreements and the newsprint giant moved to sell a B.C. wood and paper mill. About 1,000 workers at three Quebec mills voted at least 85 pe