Money News

Ponzi suspect Jones still in Canada: lawyer Jul 21, 2009 - 12:59 pm PST
A missing Montreal financial planner accused of using a Ponzi scheme to bilk his clients out of about $50 million is still in Canada, a prominent defence lawyer who claims to be in contact with him said Tuesday. CBC

Apple's profit jumps 15% on iPhone sales Jul 21, 2009 - 9:40 am PST
Despite the global economic downturn, Apple Inc. reported a 15 per cent jump in third-quarter profit on Tuesday, as sales of iPhones soared above five million. CBC

Ivanhoe set to resume talks over Mongolian mine Jul 21, 2009 - 9:03 am PST
Ivanhoe Mines Ltd. says it will resume talks with the Mongolian government Monday to conclude an investment and profit-sharing agreement for the Oyu Tolgoi copper and gold project. CBC

Orvana Minerals sweetens bid for Kinbauri Gold Jul 21, 2009 - 9:01 am PST
Orvana Minerals Corp. boosted its all-cash offer Tuesday for Kinbauri Gold Corp., whose board of directors and management are supporting a friendly all-stock deal with ATW Gold Corp. CBC

ARC Financial asks regulators to intervene in takeover vote Jul 21, 2009 - 8:51 am PST
Private equity firm ARC Financial Corp. is asking the Ontario and Alberta securities commissions to block Paramount Energy Trust from voting its recently acquired shares of Profound Energy Inc. in favour of its proposed takeover of the junior energy compa CBC

Bank of Canada ups economic outlook Jul 21, 2009 - 8:38 am PST
The Bank of Canada boosted its outlook for the economy for this year and 2010, while keeping a key interest rate unchanged on Tuesday. CBC

Magna revises bid for Opel Jul 21, 2009 - 3:15 am PST
Magna International confirmed Tuesday that it has revised its bid for General Motors' Opel unit. CBC

Globalive says CRTC review could delay wireless plans Jul 21, 2009 - 2:15 am PST
New wireless company Globalive Holdings said it might have to delay the launch of its mobile phone network after the CRTC decided Monday to review its ownership structure. CBC

Former Cossette executive bids for firm Jul 20, 2009 - 9:18 am PST
Shares of marketing company Cossette Inc. gained more than 58 per cent Monday after a former executive at the company made an unsolicited bid to take over the firm. CBC

Agrium extends hostile bid for CF Industries Jul 20, 2009 - 9:14 am PST
Fertilizer giant Agrium Inc. has extended the expiry date on its $3.9-billion-US hostile takeover bid for rival CF Industries Holdings Inc. of Deerfield, Ill., until midnight Aug. 19. CBC

Enbridge to finance bulk of Alberta Clipper pipeline Jul 20, 2009 - 9:03 am PST
The Alberta Clipper crude oil pipeline will now be mostly funded by Enbridge Inc. after the Calgary-based company struck a restructuring deal for the project with its affiliate Enbridge Energy Partners. CBC

CN Q2 profit drops 15% to $387M Jul 20, 2009 - 9:00 am PST
CN Rail reported Monday a 15 per cent drop in second-quarter profit to $387 million as the global recession drove down freight volumes. CBC

Ponzi scheme suspect's family express 'grief, shame' Jul 20, 2009 - 8:08 am PST
The wife and daughters of Earl Jones have broken their silence, saying they are shocked by the allegations against the Montreal financial planner. CBC

Nortel gets $475M US offer for Enterprise unit Jul 20, 2009 - 5:07 am PST
Nortel Networks Corp. has reached a "stalking horse" agreement to sell the bulk of its Enterprise Solutions unit to Avaya Inc. for $475 million US. CBC

Pension funds gain 9.5% in Q2 Jul 20, 2009 - 2:23 am PST
Canada's pension funds began the long road to financial recovery by gaining almost 10 per cent in value during the second three months of 2009, according to figures released Monday. CBC