CHOM - Business News

Phillips-Van Heusen to buy privately held Tommy Hilfiger in $3B cash-and-stock deal

Mon, 15 Mar 2010 13:35:40 +0000

NEW YORK - Clothing maker Phillips-Van Heusen Corp. said Monday it has agreed to buy privately held Tommy Hilfiger in a cash-and-stock deal valued at about US$3 billion, creating one of the world's bi...

Stock markets head for lower opening amid sovereign debt concerns

Mon, 15 Mar 2010 13:35:37 +0000

TORONTO - The Toronto stock market appeared headed for a weak opening Monday as commodity prices lost ground amid worries about sovereign debt. Worries rose following a warning from credit ratings ...

Patheon widens first-quarter loss despite five per cent spike in revenue

Mon, 15 Mar 2010 13:35:36 +0000

TORONTO - Losses at Patheon Inc. (TSX:PTI) widened during the first quarter of fiscal 2010 despite a 5.2 per cent increase in revenues for the period, the company said Monday. The Toronto-based con...

North American cars down as new vehicle sales stall in January: StatsCan

Mon, 15 Mar 2010 13:14:33 +0000

OTTAWA - Lower sales of North American-built passenger cars were offset by higher sales of trucks and overseas-built passenger cars as the number of new motor vehicles sold remained unchanged at 128,4...

Oil falls below $81 in Europe as investors eye weak US crude demand, Fed meeting

Mon, 15 Mar 2010 13:05:08 +0000

Oil prices fell below US$81 a barrel Monday, pushed down by a stronger dollar and investor concerns that slower U.S. demand for crude doesn't justify the recent rally. By early afternoon in Europe,...

Moody's says US, Britain at more risk of losing top debt rating than Germany, France

Mon, 15 Mar 2010 12:51:23 +0000

LONDON - The United States and Britain are more likely than Germany and France to witness an embarrassing downgrade of their top debt rating, agency Moody's Investors Service said Monday. In a quar...

Phillips-Van Heusen to buy privately held Tommy Hilfiger in $3B deal

Mon, 15 Mar 2010 12:51:29 +0000

NEW YORK - Phillips-Van Heusen says it will buy privately held Tommy Hilfiger in a cash-and-stock deal valued at about $3 billion, creating one of the world's biggest clothing companies. The deal a...

Kirkland Lake Gold widens Q3 loss, main mine now back in action after collapse

Mon, 15 Mar 2010 12:51:26 +0000

KIRKLAND LAKE, Ont. - Kirkland Lake Gold Inc. (TSX:KGI) reported Monday a third-quarter net loss of $8.3 million, widened from a year-earlier $4.7 million but said its main mine is "back to normal" af...

US agency says it cannot explain runaway Prius incident on California highway

Mon, 15 Mar 2010 11:46:40 +0000

WASHINGTON - The U.S. government said Monday it cannot explain a reported incident of sudden, high-speed acceleration in a Toyota Prius on a San Diego, California, freeway last week. The National H...

Ensign Energy Q4 profit down 69 per cent as recession erodes demand for oil

Mon, 15 Mar 2010 11:46:42 +0000

CALGARY - Ensign Energy Services Inc. (TSX:ESI) reported Monday a fourth-quarter profit of $22.6 million, 15 cents per share, down 69 per cent to from a year-earlier $73.8 million, 48 cents per share,...

World markets slip after mixed US economic reports

Mon, 15 Mar 2010 10:26:21 +0000

HONG KONG - Asian stock markets sank Monday after mixed economic reports about the U.S. economy inspired caution among investors. European shares were also lower. Major Asian bourses were down as m...

China's BYD sees profit soar on strong demand for its sedans; vows to expand, diversify

Mon, 15 Mar 2010 09:32:09 +0000

SHANGHAI, China - BYD, the Chinese automaker with backing from billionaire Warren Buffett, says its net profit more than tripled last year as the company's F3 sedan topped the country's list of best-s...

Middle of the road has partisan potholes as Dodd seeks consensus on financial rules

Mon, 15 Mar 2010 09:32:10 +0000

WASHINGTON - Combining Obama administration and Republican priorities, the leading Senate author of a sweeping rewrite of the nation's financial regulations is looking for consensus with a proposal th...

Iran's oil minister says OPEC should not change production quotas at upcoming meeting

Mon, 15 Mar 2010 09:05:14 +0000

TEHRAN, Iran - Iran's oil minister says OPEC nations not to change their crude output targets at their upcoming meeting in Vienna. Gholam Hossein Nozari told reporters Monday, on the anniversary of...

Oil falls below US$81 in Asia as investors eye weak US crude demand, Fed meeting

Mon, 15 Mar 2010 09:05:13 +0000

SINGAPORE - Oil prices fell below US$81 a barrel Monday in Asia amid investor concerns flagging U.S. crude demand doesn't justify the recent rally. Benchmark crude for April delivery was down 40 ce...