Business RSS
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Target’s 1st-qtr profit drops 26 pct on weak sales as weather, financial pressures take toll
NEW YORK, N.Y. – Target Corp. is reporting a 26 per cent drop in first-quarter profits as cool temperatures and financial pressures limited customers’ appetite for spending. The company, based in Minneapolis, also cut its annual profit outlook. Target says that it earned $498 million, or 77 cents per share, for the three months ended
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Homebuying intentions remain relatively strong, says bank survey
TORONTO – A new report suggests nearly half of Canadian homeowners intend to buy a property in the next five years, despite a cooling off in the housing market. The BMO Housing Confidence Report says the 48 per cent figure is mostly unchanged from late 2012, suggesting continued confidence in the housing market. Among major
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Lowe’s 1st-quarter profit climbs even as a cold spring dampens sales a bit
MOORESVILLE, N.C. – Lowe’s first-quarter net income rose almost 3 per cent, even as a wet and cool spring dampened sales of gardening products. Spring is the biggest season for home improvement retailers. While the weather was chilly in the quarter, the improving housing market has helped such businesses. Lowe’s Cos. earned $540 million, or
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Arizona restaurant becomes poster child for dark side of online customer reviews
PHOENIX – It was the customer service disaster heard around the Internet. An Arizona restaurateur, fed up after years of negative online reviews and an embarrassing appearance on a reality television show, posted a social media rant laced with salty language and angry, uppercase letters that quickly went viral last week, to the delight of
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Japan’s central bank keeps policy unchanged, says economy ‘picking up,’ as trade deficit grows
TOKYO – Japan’s central bank says the world’s third-biggest economy is “picking up” as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month. The Bank of Japan ended a policy meeting on Wednesday with no change to its strategy of doubling the
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Biden says Jewish leaders in Hollywood, social media drove changing attitudes on gay marriage
WASHINGTON – Vice-President Joe Biden is praising Jewish leaders for helping change American attitudes about gay marriage and other issues. Biden says culture and arts change people’s attitudes. He cites social media and the old NBC TV series “Will and Grace” as examples of what helped changed attitudes on gay marriage. Biden says, quote, “Think
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More than 91,000 litres of oil spilled from derailed Saskatchewan train
JANSEN, Sask. – A freight train jumped the tracks in southeastern Saskatchewan Tuesday and spilled more than 91,000 litres of oil. The accident happened as the Canadian Pacific Rail (TSX:CP) eastbound train was rolling through an area near the village of Jansen, about 150 kilometres southeast of Saskatoon. The company said five cars derailed, but
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Most actively traded companies on the TSX, TSX Venture Exchange markets
TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (12,742.43 up 129.38 points): Goldcorp Inc. (TSX:G). Miner. Up 77 cents, or 2.90 per cent, at $27.35 on 30.83 million shares. The gold sector led advancers on the main index, up 3.16
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‘Idol’ finale not even the biggest TV event of the week
NEW YORK, N.Y. – For the past decade, the “American Idol” season finale has been one of television’s biggest events of the year. Now it’s not even TV’s biggest event of the week. The Nielsen company estimated that 14.3 million people watched Candice Glover’s victory over Kree Harrison in last week’s final episode of the
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Focus on the Markets
TORONTO – The Canadian dollar closed at 97.39 cents U-S, up 22-100ths from Friday’s close. The S-and-P/T-S-X composite index climbed 129.38 points to 12,742.23. Volume at 4:15 p.m. Eastern Time was 416.93 (m) million shares. The Dow Jones industrial average jumped 52.30 points to 15,387.58. The Standard and Poor’s 500 was up 2.87 points at
