TORONTO - Premier Dalton McGuinty says Ontario's Employment Standards Act may have to be beefed up to stop companies from using a loophole to avoid paying severance.
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MONTREAL - Shares of Canadian home renovation leader Rona Inc. (TSX:RON) sank to their lowest level in five years Tuesday after weak consumer confidence and a slowdown in new home construction punished the company's first-quarter results.
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TORONTO - Iamgold Corp.'s (TSX:IMG) said Tuesday its earnings tripled during the first quarter on strong gold prices and higher sales, as it worked to move two of its delayed projects into production.
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WASHINGTON - Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," U.S. Federal Reserve chairman Ben Bernanke said Tuesday.
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WASHINGTON - The U.S. Senate, in a direct challenge to President Bush, voted Tuesday to temporarily halt the shipment of thousands of barrels of oil a day into the government's emergency reserve.
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WASHINGTON - The U.S. Senate, in a direct challenge to President Bush, voted Tuesday to temporarily halt the shipment of thousands of barrels of oil a day into the government's emergency reserve.
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CHARLOTTE, N.C. - Bank of America Corp., the second-largest bank in the United States, reported rising credit costs Tuesday, as it continues to wade through a challenging economic cycle.
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WASHINGTON - The U.S. Senate is directing President Bush to temporarily halt the shipment of thousands of barrels of oil a day to the government's emergency reserve.
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LITTLE ROCK, Ark. - Wal-Mart Stores Inc. on Tuesday said first-quarter profits rose 6.9 per cent, but the world's largest retailer offered a guarded outlook as consumers wrestle with higher energy and food costs.
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TORONTO - CI Financial Income Fund (TSX:CIX.UN) says its net income fell to $139.4 million in the first quarter, down two per cent from the same time last year, but the mutual fund and wealth management company said it was pleased given the circumstances.
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DETROIT - The U.S. auto industry is in a recession, but General Motors Corp. (NYSE:GM) has prepared for it by cutting costs and rolling out new products, GM's president and chief operating officer said Tuesday.
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MONTREAL - Shares of TransForce Inc. are expected to begin trading May 20 after unitholders of the TransForce Income Fund (TSX:TIF.UN) voted to approve a conversion to a corporate structure.
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TOKYO - Nissan became the latest major Japanese automaker to report booming earnings for the just-ended fiscal year - and forecast a plunge in profit for the current year, blaming a rising yen and soaring material costs.
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NEW YORK - Gas prices shot to a new record over US$3.73 a gallon in the United States Tuesday, and their advance shows little sign of slowing with Memorial Day weekend, the traditional start of the summer driving season, just 10 days away.
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PARIS - Airbus on Tuesday announced new delays on deliveries of the superjumbo A380, already almost two years late, saying the company is behind schedule in switching to automated production.
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