Oil falls on profit-taking after record surge
NEW YORK (Reuters) - Oil fell from record highs on Monday on profit-taking after surging an unprecedented $16 in the previous two sessions. The slide came after oil jumped nearly $11 on Friday alone as the dollar weakened and on forecasts of falling inventories in the United States and weak supply.
TSX Group picks American Thomas Kloet as CEO
TORONTO (Reuters) - Canada's dominant market operator, TSX Group, has gone outside the country to recruit its new chief executive, announcing on Monday that former Fimat USA executive Thomas Kloet will start running the company on July 14. TSX owns the Toronto Stock Exchange, Canada's biggest, and last month acquired the Montreal Exchange derivatives market.
Lehman raises $6 bln, expects big Q2 loss
NEW YORK (Reuters) - Lehman Brothers Holdings Inc
Stock index adds 100 points as oil cools
TORONTO (Reuters) - The Toronto Stock Exchange's main index headed higher on Monday morning, up more than 100 points, as resource shares surged despite a slight pullback in the prices of oil and gold. The S&P/TSX composite index <.GSPTSE> was up 103.23 points, or 0.7 percent, at 15,072.78 as concerns eased over the impact of high oil on the economy.
Thomas Cook buys French and Canadian businesses
LONDON (Reuters) - Thomas Cook, Europe's second-largest travel firm, said it had bought up businesses in France and Canada on Monday for a combined $222 million, extending its recent acquisition spree. The company has agreed to buy French operator Jet Tours from Club Mediterranee SA for 70 million euros ($110 million), subject to works council consultation and regulatory approval.
Dollar falls, BoC decision in focus
TORONTO (Reuters) - The Canadian dollar weakened against the U.S. dollar on Monday, as a report which showed housing starts rose a tad more than expected in May was overshadowed by uncertainty over whether the Bank of Canada was approaching the end of its interest rate-easing cycle. Domestic bond prices fell as traders took profit after the steep rally at the end of last week.
Canadian house starts solid, seen staying that way
TORONTO (Reuters) - Canadian housing starts rose slightly more than expected in May, avoiding the cliff that U.S. starts fell off in the first several months of the year, as demand for new homes remained strong across the country, a report released on Monday showed. Housing starts climbed 3.5 percent in May to a seasonally adjusted annualized 221,300 units from 213,900 units in April, according to Canada Mortgage and Housing Corp, a government-owned corporation.
Boeing's 787 Dreamliner first flight on schedule
MOSCOW (Reuters) - Boeing Co said on Monday its 787 Dreamliner would make its first flight in the fourth quarter of 2008, repeating the revised schedule for the new airplane's launch announced in April. Dmitry Krol, director of communications for Boeing in Russia and the CIS, said first deliveries of the plane were scheduled for the third quarter of 2009, also as previously stated.
ArcelorMittal buys Canadian recycling firm Bakermet
BRUSSELS (Reuters) - ArcelorMittal
Gasoline rises above $4 a gallon for first time
LOS ANGELES (Reuters) - The U.S. average price for a gallon of regular gasoline topped $4 for the first time, a survey issued on Sunday by the travel group AAA showed. AAA's survey showed a national average price of $4.005 per gallon, up from $3.67 a month ago and $3.10 a year ago.
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