Business RSS
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Ski-Doo maker’s IPO price values BRP at about $2.5B, prices shares at $21.50
MONTREAL – The maker of Ski-Doo snowmobiles says its initial public offering has been priced at $21.50 per share — giving the company a market value of about $2.5 billion. BRP Inc., whose shares are expected to begin trading May 29 under the TSX symbol DOO, expects to raise at least $262.3 million in gross
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US home sales rise slightly to 4.97 million in April, highest in 3 1/2 years; inventories rise
WASHINGTON – Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale. The National Association of Realtors said Wednesday that sales rose to a seasonally adjusted annual rate of 4.97 million, up from 4.94
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Bernanke warns that premature ending of Fed’s stimulus efforts would carry substantial risks
WASHINGTON – Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to slow its extraordinary stimulus programs. Reducing the Fed’s efforts to keep borrowing rates low would “carry a substantial risk of slowing or ending the economic recovery,” Bernanke said in
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Paying bills and consumer consumption hurting Canadians’ ability to save: study
MONTREAL – Almost a third of Canadian households report never or almost never having any money left to save after paying their bills, according to a new study issued Wednesday. Households that reported no wealth accumulation tended to be working, middle-aged people — although of varying income levels, says the study by the Certified General
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Target’s says Canadian sales higher than expected even as overall profits fall
TORONTO – Sales at Target Corp.’s new Canadian stores were better than expected during the first quarter, even as the department store chain reported its overall profits dropped 26 per cent. “Whenever we open a new store in the U.S., there is a rush of traffic and sales as curious guests shop it for the
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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 but performance misses analysts’ expectations
NEW YORK, N.Y. – Lowe’s said Wednesday that its first-quarter net income rose nearly 3 per cent, but results fell short of expectations as rainy weather hurt spring gardening sales. The No. 2 home improvement retailer’s results stood in contrast to those reported a day earlier by Home Depot. Lowe’s larger rival reported an 18
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Arizona restaurant becomes poster child for dark side of online customer reviews
SCOTTSDALE, Ariz. – 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, allegedly posted a social media rant laced with salty language and angry, uppercase letters that quickly went viral last week, to the
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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
