CHOM - Business News

Dow Chemical-Kuwaiti venture to launch by Jan. 1

Mon, 01 Dec 2008 15:37:46 +0000

MIDLAND, Mich. - Officials say a joint petrochemicals venture between Dow Chemical Co. and a Kuwaiti company will begin operations by Jan. 1. Midland-based Dow Chemical and Petrochemical Industries...

Johnson & Johnson buying Mentor for US$1.07 billion

Mon, 01 Dec 2008 15:37:52 +0000

NEW BRUNSWICK, N.J. - Health-care products company Johnson & Johnson said Monday it will buy cosmetic-product and breast-implant maker Mentor Corp. for US$1.07 billion in a move to boost its presence ...

Price of oil falls below US$51 as OPEC doesn't cut output

Mon, 01 Dec 2008 15:37:36 +0000

Oil prices fell over six per cent Monday, to below US$51 a barrel, after OPEC decided not to cut production at an informal meeting in Cairo on Saturday and on more evidence the global economic slowdow...

Air Canada getting $70 million in accelerated payments from Aeroplan

Mon, 01 Dec 2008 15:37:44 +0000

MONTREAL - Air Canada (TSX:AC.A) is getting a $70-million financial fill-up this month from Groupe Aeroplan Inc. (TSX:AER). The airline and the loyalty-points operator said Monday they have agreed ...

Ireland's Ryanair makes new takeover bid for Aer Lingus

Mon, 01 Dec 2008 15:37:50 +0000

DUBLIN, Ireland - Budget airline Ryanair launched a new takeover bid Monday for Aer Lingus, seeking to capitalize on labour unrest at its Irish rival and Ireland's economic difficulties. Cash-rich ...

Energy stocks help drag TSX down about 600 points; N.Y. lower

Mon, 01 Dec 2008 15:37:35 +0000

TORONTO - The Toronto stock market plunged about 600 points in early trading Monday as tumbling oil prices helped persuade investors to take profits after a huge runup last week. New York markets w...

German computer chip maker Qimonda could face bankruptcy

Mon, 01 Dec 2008 15:37:37 +0000

FRANKFURT, Germany - Qimonda AG, the memory chip company majority owned by Infineon Technologies AG, said Monday it may face bankruptcy if it fails to find new investors or the cash needed to operate ...

Fairfax Financial to buy rest of stake in Northbridge Financial for $686 million

Mon, 01 Dec 2008 14:44:42 +0000

TORONTO - Fairfax Financial Holdings Ltd. (TSX:FFH) plans to buy up the stake in commercial insurer Northbridge Financial Corp. (TSX:NB) it doesn't already own for $686 million. The Toronto-based f...

Johnson & Johnson buying Mentor for $1.07B

Mon, 01 Dec 2008 14:44:44 +0000

NEW YORK - Health care products company Johnson & Johnson says it will buy the medical products supplier Mentor for $1.07 billion in a move to boost its presence in cosmetic and reconstructive medicin...

China's CNPC gets $3.29B UAE pipeline project

Mon, 01 Dec 2008 14:44:41 +0000

SHANGHAI, China - China National Petroleum Corp. has won a bid to build a $3.29 billion pipeline in the United Arab Emirates, its largest overseas construction project so far. The official Xinhua N...

EU says French bank rescue plan needs checking

Mon, 01 Dec 2008 14:44:43 +0000

BRUSSELS, Belgium - The EU said Monday it had to carefully inspect France's bank bailout plan - but stressed it was not blocking it - to make sure banks wouldn't profit unfairly from large doses of st...

Stocks look to open sharply lower; Canadian GDP rises

Mon, 01 Dec 2008 14:44:33 +0000

TORONTO - Stock markets appeared headed for a sharply lower start to December trading amid indications of a tepid start to the U.S. holiday shopping season and lower commodity prices while data showed...

AIG sells AIG Private Bank to Abu Dhabi firm

Mon, 01 Dec 2008 13:46:33 +0000

CHARLOTTE, N.C. - American International Group Inc. on Monday said it has agreed to sell its wealth management arm AIG Private Bank Ltd. to Aabar Investments PJSC of Abu Dhabi. Terms of the deal, w...

Look Communications looking for 'orderly sale' of its assets

Mon, 01 Dec 2008 13:46:35 +0000

TORONTO - Look Communications Inc. (TSXV:LOK) intends to liquidate itself. Look said Monday it plans a shareholder meeting on a plan for "the orderly sale of some or all, in whole or in part, of it...

THE ASSOCIATED PRESS

Mon, 01 Dec 2008 13:46:31 +0000

SAO PAULO, Brazil - Brazilian stocks are falling after rising five days in a row last week. Brazil's Ibovespa index was down two per cent to 35,856 shortly after trading began. The nation's curr...