The Canadian Press - MONTREAL - New wireless player Public Mobile is looking to line up customers who want a no-frills service and don't already own a cellphone, the company's chief executive said Thursday as the company opened its first stores in Toronto and Montreal.
The Canadian Press - MONTREAL - Last year's collapse of the North American auto sector caused trade with the U.S. and Mexico to suffer its worst year since the North American Free Trade Agreement went into effect 15 years ago, the U.S. Transportation Department said Thursday.
The Canadian Press - TORONTO - IBI Income Fund booked $9.2 million in full-year profits in 2009, a drop of 50 per cent compared with 2008 as a result of an increase in expenses.
The Canadian Press - CALGARY - Western Energy Services Corp. (TSXV:WRG) announced Thursday it has closed a deal to acquire Cedar Creek Drilling Ltd. in a share-swap deal.
The Canadian Press - TORONTO - A continuing Greek debt crisis helped push the Toronto stock market lower Thursday afternoon, with commodity stocks dampened by worries an already shaky global economic recovery could have the wind knocked out of it should EU bailout efforts fail.
Reuters - OTTAWA (Reuters) - Canada took a gloomy look at what could go wrong with the global economy on Thursday, warning of prolonged recession or a new debt-driven crisis unless countries push ahead with promised reforms.
Reuters - NEW YORK (Reuters) - World stocks dropped on Thursday and the euro weakened against the U.S. dollar on renewed worries about Greece, which said it may be unable to solve its fiscal problems if borrowing costs stay high.
Reuters - ATLANTA (Reuters) - Virgin America, the low-cost U.S. carrier that is partly controlled by British entrepreneur Richard Branson, said on Thursday that it plans to start flights to Orlando, Florida, and Toronto later this year.
AFP - WASHINGTON (AFP) - Taiwan cellphone maker HTC, accused by Apple of infringing on iPhone patents, said Thursday it will "fully defend" itself against the charges.
The Canadian Press - VANCOUVER, B.C. - WesternOne Equity Income Fund booked a smaller profit of $1.1 million versus a year ago, as operating expenses increased despite a hike in revenues.
The Canadian Press - TORONTO - Bookworms north of the border shouldn't expect to pay the same prices as their American neighbours if the Canadian dollar hits parity with the U.S. greenback.
The Canadian Press - CALGARY - Canada's oil industry is poised to see profits rise by two thirds this year compared with 2009, thanks to higher crude oil prices, increased oilsands production and lower costs, according to a forecast by a business think-tank.
The Canadian Press - NEW YORK - FedEx says the global economic recovery is broadening, as Asia continues to see strong growth and the U.S. economy gains steam.
AFP - LONDON (AFP) - British Airways and the country's biggest trade union were in last-ditch talks Thursday in a bid to avert a planned strike this weekend by BA cabin crew.
AFP - FRANKFURT (AFP) - German industrial giant Siemens announced on Thursday a broad restructuring of its SIS information technology division that includes the elimination of 4,200 jobs worldwide.
AFP - BRASILIA (AFP) - All three fighter jets vying to be picked for a multi-billion-dollar contract to supply the Brazilian air force have passed a technical evaluation, news reports said Thursday.
AFP - HELSINKI (AFP) - Tensions mounted in a Finnish stevedores' walkout that has crippled the country's foreign trade for two weeks as strikers tried to block non-union workers from resuming operations at a port Thursday.
AFP - BRATISLAVA (AFP) - South Korean car maker Kia Motors said Thursday it would build a new engine production facility worth 100 million euros (136.7 million dollars) in Slovakia.
Reuters - CALGARY, Alberta (Reuters) - Profit in Canada's oil industry may climb by two-thirds this year as rebounding crude prices and rising output overshadow the impact of higher operating costs, the Conference Board of Canada said on Thursday.
AFP - LONDON (AFP) - Europe's main stock markets stumbled on Thursday as investors took profits and digested economic data including a larger-than-expected eurozone trade deficit, dealers said.
The Canadian Press - GATINEAU, Que. - Canada's private TV networks continued to see their revenues slide last year, while cable revenues went on climbing.
AFP - LONDON (AFP) - The euro sank against the dollar on Thursday on persistent worries over the Greek debt crisis after Athens warned again that it could appeal to the International Monetary Fund for aid if none is forthcoming from its eurozone partners.
Reuters - BRUSSELS/ATHENS (Reuters) - Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, saying it cannot achieve promised deficit cuts if its borrowing costs remain so high and may have to call in the IMF.
Reuters - OTTAWA (Reuters) - Canada has warned the Group of 20 leading nations of the risk of another global crisis or a deflationary spiral if advanced countries do not rein in budget deficits and emerging markets do not allow for greater foreign exchange flexibility.
Reuters - TORONTO (Reuters) - Toronto's main stock market index was lower on Thursday morning after touching a 17-month high the day before as concerns about tighter credit in China and doubts about an aid plan for debt-stricken Greece pressured commodity prices.
The Canadian Press - OTTAWA - Canada's strong rebound from recession won't be sustained as headwinds gather to slow growth, according to a new report from the TD Bank.
AFP - FRANKFURT (AFP) - Israeli copycat drugs giant Teva made a major stride into Europe on Thursday with the five-billion-dollar purchase of Ratiopharm, formerly owned by a German billionaire who killed himself.
Reuters - TORONTO (Reuters) - Athabasca Potash said on Thursday that its shareholders had voted in favor of global mining giant BHP Billiton's C$341 million ($338 million) cash takeover offer.
The Canadian Press - OTTAWA - Foreign investment in Canadian securities continued to increase in January, reaching $11.8 billion, with debt instruments continuing to attract the bulk of the inflow of funds.
The Canadian Press - MISSISSAUGA, Ont. - Coffee store chain operator Second Cup Income Fund (TSX:SCU.UN) returned to profitability in the fourth quarter and full year of fiscal 2009 despite sliding same-cafe sales, the company said Thursday.
The Canadian Press - WASHINGTON - Consumer prices in the United States were flat last month, as the weak economy limits the ability of companies to charge more for goods and services.
Reuters - TORONTO (Reuters) - The Canadian dollar traded near a 20-month high on Thursday as it continued its march toward parity with the U.S. dollar, but a lackluster tone in risk sentiment could keep trade sideways.
The Canadian Press - OTTAWA - Canadian residents made 4.2 million trips outside of the country in January, 1.5 per cent fewer than in the previous month.
The Canadian Press - BRUSSELS, Belgium - Greece's Prime Minister George Papandreou said Thursday his country needs a firmer eurozone bailout plan to lift market pressure on his government and lower its borrowing rates.