Four Canadian banks report, profit falls at three
TORONTO (Reuters) - Three of four Canadian banks reported lower profits on Thursday, but the results of the big players were either in line with market expectations or with the banks' own warnings in recent weeks. "I would categorize today as a no-big-surprise day, which is a good thing in this environment," said Craig Fehr, a financial services analyst at Edward Jones.
TSX rattled by weak oil, political turmoil
TORONTO (Reuters) - The Toronto Stock Exchange's main index fell to its lowest close in two weeks on Thursday as a slide in oil prices shook the resource-heavy market, while the suspension of Canada's Parliament weighed on sentiment. Oil prices fell more than 6 percent to their lowest level in almost four years, pulling Toronto's heavily weighted energy sector down 7.46 percent.
Toyota opens new Ontario plant, brings 1,200 jobs
TORONTO (Reuters) - Toyota Canada Inc <7203.T> cut the ribbon on a new C$1.1 billion ($859 million) assembly plant in Woodstock, Ontario on Thursday, bringing about 1,200 new jobs to a sector that has been losing jobs rapidly. The plant is assembling the RAV4, a compact sports utility vehicle, and will produce up to 100,000 vehicles a year in Woodstock, a small city of around 36,000 people, known for its tree-lined streets and Victorian homes, about 140 kilometers (88 miles) southwest of Toronto.
Automakers face skeptical Congress on cash plea
WASHINGTON (Reuters) - The top executives of the major U.S. automakers faced skeptical questioning on Capitol Hill as they pleaded for $34 billion in federal aid and warned of a possible collapse that would jeopardize millions of jobs. In a critical moment for America's storied auto industry, the chief executives of General Motors Corp, Ford Motor Co and Chrysler LLC pledged to lawmakers on Thursday to refocus their businesses on higher fuel efficiency and lower production costs.
Loonie falls as opposition still aims to oust Canada government
TORONTO (Reuters) - The Canadian dollar fell nearly 2 percent in less than 90 minutes on Thursday after leaders of opposition parties said they still aim to oust the country's Conservative government from power. They were responding to a decision by Canada's governor general to allow Parliament to be suspended until January, giving the Conservative government a chance to regroup following a parliamentary crisis.
November job losses expected in Canada
OTTAWA (Reuters) - Canadian job losses likely began in earnest in November as the economy stagnated, following three straight months of surprisingly strong employment growth, analysts said on Thursday. Employers are expected to have shed 25,000 workers in the month, according to the median forecast of analysts in a Reuters poll. They also forecast the unemployment rate would rise to 6.4 percent from 6.2 percent in October, the highest level since September 2006.
Oil falls $3 to lowest in nearly 4 years
NEW YORK (Reuters) - Oil fell more than 6 percent on Thursday to its lowest level in nearly four years in response to further bleak economic data that could spell a deeper decline in global energy demand. The number of U.S. workers on jobless rolls hit a 26-year high last month, the government said, while another report showed U.S. factory orders fell sharply for the third month in a row.
TD Bank CEO sees "reasonable" 2009 earnings increase
TORONTO (Reuters) - Toronto-Dominion Bank
Bombardier earnings beat estimates
TORONTO (Reuters) - Bombardier said on Thursday that quarterly earnings more than doubled, helped by an 8 percent rise in revenue, but new orders for both airplanes and trains fell as tough economic conditions weighed on demand. Net income rose to $245 million, or 14 cents per share, in the third quarter ended on October 31 from $91 million, or 5 cents per share, a year earlier.
Building permits sag, purchasing contracts
TORONTO (Reuters) - Purchasing activity in Canada contracted to its lowest level ever last month, while building permits fell sharply in October, two reports showed on Thursday, providing the first strong indications of a slower fourth-quarter economy. The Ivey Purchasing Managers Index fell to 40.2 in November from 52.2 in October, and marked the first time activity had contracted since December 2007. Analysts surveyed by Reuters had expected a reading of 50.5.
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