Business News

EU widens Billiton-Rio Tinto antitrust probe into acquisition deal

BRUSSELS, Belgium - The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concern...

Challenges abound for India if it makes $2.5-billion oilsands investment

CALGARY - India's state-owned firm may be keen on making a $2.5-billion investment in Alberta's oilsands, but one analyst wonders how far that money will go. "I think at the end of the day their ch...

Oil prices fall more than US$1 a barrel on hopes Iran nuclear tensions could ease

Oil prices fell more than US$1 a barrel Friday from record levels set a day earlier on hopes that tensions surrounding Iran's nuclear program could ease and cut the chances of American or Israeli mili...

Societe Generale fined $6.3 million over Jerome Kerviel trading scandal

PARIS - France's central bank announced Friday that it has fined Societe Generale US$6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses a...

Energy helps send TSX down 133 points as BCE takeover price confirmed

TORONTO - The Toronto stock market closed lower Friday as energy stocks continued to retreat, but losses on the TSX were sharply pared because of a jump in BCE Inc. (TSX:BCE) shares after the telecom ...

BCE and Teachers takeover group confirm $42.75 per share acquisition price

TORONTO - Telecom giant BCE Inc. has cleared the financing hurdle widely seen as the last major step in completing its $52 billion acquisition by the Ontario Teachers' Pension Plan in the largest corp...

Crude oil prices fall more than US$1 a barrel and Iran tensions ease

Oil prices fell more than US$1 a barrel Friday from record levels set a day earlier on hopes that tensions surrounding Iran's nuclear program could ease and cut the chances of American or Israeli mili...

Number of bankruptcies drops in May, superintendent reports

OTTAWA - New figures show that bankruptcies dropped in May. The Office of the Superintendent of Bankruptcies is reporting 7,918 bankruptcies in May, down from 8,627 in April and 8,008 in May 2007. ...

G8 leaders set to meet as economy storm clouds continue to thicken

SAPPORO, Japan - Between surging oil prices, food inflation and a credit crunch that's depressed global growth, leaders from the G8 economic powers face the gravest combination of economic woes in at ...

SocGen fined US$6.3 million over Jerome Kerviel trading scandal

PARIS - France's central bank has fined Societe Generale US$6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this yea...