Business RSS
-
Valeant shares soar amid report drug firm near $9B deal to buy Bausch and Lomb
MONTREAL – Valeant Pharmaceuticals shares hit an all-time high Friday amid reports that it is in talks to expand its eye-care business by buying Bausch and Lomb. The stock hit $90.17 before closing at $87.02, up $10.18 or 13.25 per cent Friday on the Toronto Stock Exchange. The Wall Street Journal and Bloomberg reported that
-
Rio Tinto titanium subsidiary workers fear up to 400 jobs to be cut
MONTREAL – The weak demand and prices that prompted Rio Tinto’s titanium subsidiary to abandon a $4-billion expansion is now threatening hundreds of jobs at its Quebec plant. After meeting with company officials, the union representing workers at Rio Tinto Iron and Titanium said it fears between 230 and 400 jobs are at risk. “The
-
Oil finishes week down 2% on concerns about global demand, Fed’s next move
NEW YORK, N.Y. – The price of oil fell two per cent this week as oil traders worried about global demand and shared the stock market’s concerns about possible changes to the U.S. Federal Reserve’s economic stimulus program. The loss Friday was just 10 cents, to US$94.15 a barrel. But four straight losses resulted in
-
Country star Blake Shelton aiding fellow Oklahomans with benefit concert to air on NBC
NBC and sister networks will air Blake Shelton’s concert to help his fellow Oklahomans affected by this week’s storms in their home state. Shelton’s “Healing in the Heartland” benefit will be broadcast live as a telethon by NBC on May 29, at 9 p.m. EDT. It will also air on cable networks Style, G4, Bravo,
-
Stocks fade on Wall Street, post their first weekly loss in a month
NEW YORK, N.Y. – Stocks prices are closing mostly lower on Wall Street, giving the market its first weekly loss in a month. The Dow Jones industrial average edged up eight points to 15,303 Friday, a gain of 0.1 per cent. The Dow was supported by a big gain in Procter & Gamble. The Standard
-
Health officials investigating complications with compounded drugs from Tennessee pharmacy
WASHINGTON – Government health officials are investigating cases involving patients who suffered complications after being injected with potentially contaminated medications made by a Tennessee specialty pharmacy. The Food and Drug Administration said Friday the problems involve seven patients who received steroid injections from Main Street Family Pharmacy, a compounding pharmacy in Newbern, Tenn. Tennessee health
-
IMF chief Lagarde named key witness in investigation of payoff to French business tycoon
PARIS – IMF chief Christine Lagarde says a Paris court has named her as a key witness in an investigation into a controversial payoff to an outspoken businessman arranged while she was France’s finance minister. The status of “assisting witness” means that Lagarde could later be charged in the case. The court assigned her the
-
Loblaw files preliminary prospectuses for $7B REIT, debenture offering
BRAMPTON, Ont. – Loblaw Companies Ltd. (TSX:L) filed a preliminary prospectus Friday aimed at creating one of Canada’s largest commercial real estate trusts including some 75 per cent of the company’s real estate assets. Choice Properties Real Estate Investment Trust will hold 415 retail properties, one office complex and nine warehouse properties totalling 35.3 million
-
US orders for durable goods rise 3.3 per cent in April, helped by gain in business investment
WASHINGTON – U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and an increase in products that signal business investment. Orders for durable goods, items expected to last at least three years, rose 3.3 per cent last month from March, the Commerce Department said Friday. That followed a 5.9
-
U.S. markets headed lower amid durable goods data, long weekend
TORONTO – North American markets were set to a lower open Friday amid better-than-expected durable goods data for April, and a long holiday weekend in the U.S. The Dow Jones industrial futures fell 46 points to 15,243, the Nasdaq futures drifted lower by 13.75 points to 2,978.50, while the S&P 500 futures index dipped 7.6
