AFP - ST ANDREWS, Scotland (AFP) - The world's biggest economies have agreed a timetable on mutual monitoring of each other's economic policy aimed at preventing a fresh financial crisis, a G20 communique said on Saturday.
Reuters - ST ANDREWS, Scotland (Reuters) - Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly.
Reuters - ST ANDREWS, Scotland (Reuters) - Proposals for a tax on financial transactions to fund the cost of future bank bailouts are unattractive, Finance Minister Jim Flaherty said on Saturday.
AFP - NEW YORK (AFP) - Wall Street's gravity-defying rally found new life over the past week, providing optimism for investors heading into what has historically been one of the best periods of the year.
AFP - BALHAF, Yemen (AFP) - Yemen, one of the world's poorest countries, joined the international club of gas exporters Saturday with pumping starting at a newly built liquefied natural gas plant in the Gulf of Aden.
The Canadian Press - ST. ANDREWS - Britain called Saturday for consideration of a tax on financial transactions to insure against another crisis and urged world finance officials meeting in Scotland to agree on bearing the cost of fighting climate change.
AFP - COLOMBO (AFP) - Sri Lanka's central bank on Saturday said it has been buying gold to diversify its reserves amid volatile currency markets, days after India announced it had purchased 200 tonnes of the precious metal.
AFP - ST ANDREWS, Scotland (AFP) - British Prime Minister Gordon Brown called on the G20 here Saturday to consider a tax on financial transactions among other measures to make banks more accountable to society.
AFP - WASHINGTON (AFP) - The jump in US unemployment above 10 percent for the first time since 1983 will pressure President Barack Obama to find additional stimulus to keep a fragile economic recovery on track, analysts say.
AFP - SAN FRANCISCO (AFP) - Shell Oil Company will pay California more than 19 million dollars because of environmental violations at service stations throughout the state, officials said.
AFP - NEW DELHI (AFP) - US auto giant General Motors is in advanced talks with its Chinese partners on a proposal to bring their vehicles to India, according to the Press Trust of India.
AFP - SAN FRANCISCO (AFP) - US online music service Bluebeat said it plans to fight British recording label EMI over rights to stream and sell versions of Beatles songs.
The Canadian Press - OMAHA, Neb. - Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said Friday that many of its other operating businesses struggled.
The Canadian Press - EDMONTON - AutoCanada Income Fund (TSX:ACQ.UN) said Friday that it earned $5.1 million in its latest quarter compared with a loss of $38.3 million a year ago.
The Canadian Press - Regulators on Friday shut small banks in Georgia, Michigan, Minnesota and Missouri, bringing the number of bank failures this year to 119 amid the struggling economy and a cascade of defaults on loans.
The Canadian Press - LOS ANGELES - In a tacit acknowledgment of a delay in their plan to combine, Live Nation Inc. and Ticketmaster Entertainment Inc. said in filings Friday that a shareholders meeting to approve the deal is set for Jan. 8.
The Canadian Press - TORONTO - Trustees of Livingston International Income Fund (TSX:LIV.UN) re-affirmed their recommendation Friday that unitholders vote in favour takeover by group led by the Canada Pension Plan Investment Board after receiving a second offer by Mullen Group Ltd. (TSX:MTL).
The Canadian Press - RED DEER, Alta. - Parkland Income Fund (TSX:PKI.UN) said Friday that it earned $10.1 million in its latest quarter, down from a year ago.
The Canadian Press - WASHINGTON - Freddie Mac's losses narrowed to US$6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
The Canadian Press - WASHINGTON - Just when it was beginning to look a little better, the U.S. economy relapsed Friday with a return to double-digit unemployment for only the second time since the Second World War and warnings that next year will be even worse than previously thought.
The Canadian Press - TORONTO - Machine parts maker General Donlee Income Fund (TSX: GDI.UN) said sales fell 36 per cent in the July-September period, citing the impact of the economic slowdown on the manufacturing industry.
CBC - Air Canada's CEO says he's seeing the first signs of economic recovery, but he doesn't expect a return to full revenues at the Montreal-based airline for at least a year.
Reuters - TORONTO (Reuters) - Toronto's main stock index ended higher for a fourth straight session on Friday as gold miners rallied around record high bullion prices, offsetting the index's fall at the outset on weak jobs data that fueled worry about economic recovery.
The Canadian Press - MONTREAL - Air Canada (TSX:AC.B) is seeing small signs of improvement in air travel but says a full recovery in its key business class could be least a year away, the airline's chief executive said Friday.
The Canadian Press - MILWAUKEE - A judge has tossed out a decision - for now at least - that could have cost PepsiCo Inc. $1.26 billion after the soft drink maker didn't respond to a lawsuit claiming it stole the idea for bottled water.
The Canadian Press - WASHINGTON - President Barack Obama signed into law a $24 billion economic stimulus bill providing tax incentives to prospective homebuyers and extending unemployment benefits to the longtime jobless who have been left behind as the U.S. economy veers toward recovery.
The Canadian Press - TORONTO - Shares of Magna International Inc. (TSX:MG.A) jumped more than 14 per cent in trading Friday after the auto parts company reported a third-quarter profit of $51 million and was reported to be involved in a new auto palant in Russia.
The Canadian Press - SASKATOON - Claude Resources Inc. (TSX:CRJ), a small gold miner based in Saskatoon, reports its net loss narrowed in the third quarter to $0.4 million from $1.7 million.
The Canadian Press - VANCOUVER, B.C. - Telus Corp. revenue and profit will come in lower-than-expected this year due to impacts from a weak economy and the telecom giant's increased spending on the early launch of a new advanced wireless network, the company (TSX:T) says.
The Canadian Press - NEW YORK - AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
The Canadian Press - MONTREAL - The new head of SNC-Lavalin (TSX:SNC) says the engineering and construction company is not overly concerned about security threats to its operations in Algeria.
The Canadian Press - MONTREAL - Even though the BlackBerry is the top smartphone in North America, the iPhone is right behind and other players will also put pressure on its premiere position, analysts say.
The Canadian Press - RICHMOND, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Friday it has won a $46-million contract from the Canadian Space Agency to develop prototypes and new robotic systems for future space missions.
CBC - Former U.S. Federal Reserve chairman Alan Greenspan told CBC News Friday he makes regular visits to the Obama White House, but he denied he still influences policy-making.
The Canadian Press - MISSISSAUGA, Ont. - ClubLink Enterprises Ltd. (TSX:CLK) said Friday that it earned $17 million in its latest quarter, up from $14.5 million a year ago.
Reuters - TORONTO (Reuters) - Canada's currency skidded to its lowest closing level in nearly a week on Friday, stung by U.S. and Canadian jobs data that fell short of estimates and left investors with a reduced appetite for riskier assets.
The Canadian Press - MONTREAL - Shares in Cascades Inc. (TSX:CAS) increased almost five per cent on Friday after the Quebec-based paper and packaging company (TSX:CAS) reported its sixth consecutive quarter of improved results.
The Canadian Press - VANCOUVER, B.C. - The Keg Royalties Income Fund (TSX:KEG.UN) said Friday that it earned $2.9 million in its latest quarter as sales held steady compared with a year ago.
The Canadian Press - HALIFAX, N.S. - Power producer Emera Inc. (TSX:EMA) reported Friday third-quarter profits of $34.9 million, up from $6.5 million in the same period of 2008, when the company logged significant accounting adjustments.
The Canadian Press - TORONTO - The Toronto stock market advanced Friday as investors dealt with dismal employment data from Canada and the United States and as gold stocks continued to run ahead amid record high bullion prices.
CBC - A new study suggests 12 of the companies in Canada's TSX 60 index have corporate governance issues that make them a serious risk to investors. Another 10 are a moderate risk.