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<rss version="2.0"><channel><title>Business</title><link>http://www.canadaeast.com</link><description>FOR PERSONAL USE ONLY</description><language>en-US</language><lastBuildDate>Sat, 17 May 2008 10:03:01 -0300</lastBuildDate><copyright>Copyright: (C) Canadaeast.com, http://www.canadaeast.com/onsite.php?page=copyright</copyright><docs>http://www.rssboard.org/rss-specification</docs><ttl>60</ttl><image><url>http://www.canadaeast.com</url><link>http://www.canadaeast.com</link></image><item><title>California winemaking patriarch Robert Mondavi dead at 94, spokesman says</title><link>http://www.canadaeast.com/rss/article/298837</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/5aad56e07fdab6a85cb620ab754a09b8</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Robert Mondavi, the pioneering vintner who put California wine country on the global map, has died. He was 94.]]></description></item><item><title>UAW, American Axle reach deal that could end strike</title><link>http://www.canadaeast.com/rss/article/299161</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/39705bd6b1e3ae75fc4adccc54148ccd</guid><pubDate>Sat, 17 May 2008 00:00:00 -0300</pubDate><description><![CDATA[A bitter 80-day United Auto Workers strike against an auto parts maker that has crippled dozens of General Motors Corp. factories could be coming to an end soon with a tentative contract agreement reached Friday.]]></description></item><item><title>Saudi Arabia rejects President Bush's call to raise oil production</title><link>http://www.canadaeast.com/rss/article/298599</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/62c65412f01b427a3e034e6c7fddec95</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Saudi Arabia&#039;s leaders made clear Friday they see no reason to increase oil production until customers demand it, apparently rebuffing U.S. President George W. Bush amid soaring gasoline prices.]]></description></item><item><title>General Motors workers ratify new tentative agreement in three locations</title><link>http://www.canadaeast.com/rss/article/299085</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/bcacf712c5974a973d299267f915e0b8</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Canadian Auto Workers members at three General Motors locations in Ontario ratified a new collective agreement on Friday.]]></description></item><item><title>Premium Brands says chief executive Fred Knoedler has died of cancer</title><link>http://www.canadaeast.com/rss/article/299019</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/352fb8a62db4e37e16b221fb4cefd635</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Premium Brands Income Fund (TSX:PBI.UN) said Friday that chief executive Fred Knoedler has died of cancer.]]></description></item><item><title>Oil sets record near US$128 a barrel; pump price at high, too</title><link>http://www.canadaeast.com/rss/article/286746</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/25bc5133cf9d163e183b048adbd40dee</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[News that Saudi Arabia had boosted its oil output by 300,000 barrels a day was greeted as a non-event on oil markets - the move wasn&#039;t anywhere near the kind of production increase needed to bring prices down on Friday.]]></description></item><item><title>Biovail subsidiary reaches deal with U.S. regulators over Cardizem drug launch</title><link>http://www.canadaeast.com/rss/article/298610</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/80ec7627c27c3218e306489955d99cce</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[A subsidiary of Biovail Corp. (TSX:BVF) has agreed to pay US$24.6 million to settle U.S. criminal allegatons related to the launch of Cardizem LA blood-pressure drug in 2003, part of the Canadian drug company&#039;s push to expand in the American market.]]></description></item><item><title>Air Canada fails transparency test in adopting fuel surcharges, observers say</title><link>http://www.canadaeast.com/rss/article/298831</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/3f1e7bd5afe06c52ece06e7dd047b327</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Air Canada (TSX:AC.B) failed the test of transparency by not being up front enough in informing the public about new fuel surcharges, industry observers said Friday.]]></description></item><item><title>General Motors workers ratify local Michigan contract to end that strike</title><link>http://www.canadaeast.com/rss/article/298906</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/2f388d76f4990e0550a59ae088971a28</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[A striking United Auto Workers local at a key General Motors Corp. factory ratified a new contract with the company Friday afternoon and will resume production on Monday.]]></description></item><item><title>Financial market highlights</title><link>http://www.canadaeast.com/rss/article/283078</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/d216a39b1553dbee3b87e13f3c320090</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Highlights at the close of Thursday&#039;s world financial market trading: Stocks:]]></description></item><item><title>Market volumes Friday</title><link>http://www.canadaeast.com/rss/article/283104</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/942e020cc76d0120304fd1bf2cce2f67</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Friday&#039;s trading volume for the major stock market:]]></description></item><item><title>Bombardier shares soar to highest level in nearly six years as ratings upgraded</title><link>http://www.canadaeast.com/rss/article/298780</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/6df6d97eaeff0872b14ca75828d95813</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Bombardier Inc. (TSX:BBD.B) shares soared Friday to the highest level in nearly six years as another rating agency upgraded the transportation giant&#039;s debt ratings.]]></description></item><item><title>SFK Pulp Fund netted lower Q1 profit from strong loonie</title><link>http://www.canadaeast.com/rss/article/298514</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/3d043eb47bc00dbc923e4c2303f798a6</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[With new leadership and strong market conditions, SFK Pulp Fund (TSX:SFK.UN) said Friday that it&#039;s well-positioned for the future despite taking a hit from a strong Canadian dollar and higher waste paper prices.]]></description></item><item><title>Superior Court judge delays ABCP restructuring decision over legal releases</title><link>http://www.canadaeast.com/rss/article/298771</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/e76d087e12ae61619e878707b2e08246</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[An Ontario Superior Court judge has delayed a decision on restructuring $32 billion worth of frozen asset-backed commercial paper as he continues to examine legal provisions that would protect some parties from lawsuits.]]></description></item><item><title>Increased exports help Hydro-Quebec to raise Q1 profit by 1.3 per cent to $1.4B</title><link>http://www.canadaeast.com/rss/article/298656</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/a821cf5b6cb353d172a3e9b4ee29257d</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Quebec&#039;s first-quarter net income rose 1.3 per cent to $1.45 billion on $3.77 billion in revenue thanks in part to higher sales of electricity outside the province.]]></description></item><item><title>Energy stocks help send TSX to 3rd record close this week; NY down on data</title><link>http://www.canadaeast.com/rss/article/286839</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/0e225512f46d585e9b0cf4373c9e46ac</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[The Toronto stock market racked up its third record close for the week on Friday as investors continued to pile into energy and metals stocks and oil prices cruised to new highs.]]></description></item><item><title>Coalcorp shareholder blasts planned financing, says there may have better choices</title><link>http://www.canadaeast.com/rss/article/298854</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/f5b0623cd8af54b958956d45d9e2cbff</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[A major shareholder of Coalcorp Mining Inc. (TSX:CCJ) is blasting a planned financing by the company and its move to end a strategic review, saying the firm should have considered more alternatives.]]></description></item><item><title>Victory Nickel reports quarterly loss of $430K, compared with $1.1M a year ago</title><link>http://www.canadaeast.com/rss/article/298853</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/50177ccafeaa4073be8971e3dec06400</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Victory Nickel Inc. (TSX:NI) said Friday it lost $430,000 in its most recent quarter compared with a loss of $1.1 million a year ago.]]></description></item><item><title>TSX Venture Exchange closed 35.24 points ahead at 2,611.32</title><link>http://www.canadaeast.com/rss/article/285307</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/a5a31797372f5bd9c136b3f0452ba3e3</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[The TSX Venture Exchange was up 35.24 points to close at 2,611.32 from Thursday&#039;s close. Volume at 4 p.m. ET was 223.41 million shares.]]></description></item><item><title>Canadian earnings, dividends and distributions declared Friday</title><link>http://www.canadaeast.com/rss/article/285280</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/e7e9f5f4af79d983a5eb8028f90dd9c8</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Canadian earnings declared Friday as of 2:45 p.m. ET:]]></description></item><item><title>Canadian dollar closed 0.02 of a cent ahead at 100.02 cents US</title><link>http://www.canadaeast.com/rss/article/285308</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/c0a24ff08fe042ab07b333bb1f281819</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[The Canadian dollar closed 0.02 of a cent ahead at 100.02 cents US on Friday. The U.S. dollar stood also at 99.98 cents Canadian, down 0.02 of a cent.]]></description></item><item><title>Yukon-Nevada Gold Corp. posts US$8.9M loss after 8-week operation halt</title><link>http://www.canadaeast.com/rss/article/298833</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/5fedf3e43a9571da1a0f1cff634355d9</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Nevada Gold Corp. (TSX:YNG) has posted a US$8.9-million net loss in the first quarter after temporarily shutting down production to refurbish its assets.]]></description></item><item><title>Lundin Mining's stock rises as profits up 51 per cent, Norrliden stake sold</title><link>http://www.canadaeast.com/rss/article/297140</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/6646331f6d0887f06a8d086496cdd2dd</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Lundin Mining Corp.&#039;s (TSX:LUN) stock rose more than seven per cent Friday, a day after the Vancouver-based miner reported a 51 per cent increase in first-quarter profit and said it has sold 90 per cent of its stake in the Norrliden deposit.]]></description></item><item><title>AECL aborts development work on MAPLE medical isotope reactors</title><link>http://www.canadaeast.com/rss/article/298469</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/3b1360916a7a9f219cb5f71fd56554a4</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Atomic Energy of Canada Ltd. is scrapping development of its two MAPLE medical-isotope reactors after pouring hundreds of millions of dollars into the failed nuclear project.]]></description></item><item><title>A review of economic statistics this week</title><link>http://www.canadaeast.com/rss/article/298764</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/33fc7662ba0c7a0320371d3ef2e91d9a</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[A review of economic statistics this week:]]></description></item><item><title>Crystallex says Venezuelan minister's comments at odds with previous approvals</title><link>http://www.canadaeast.com/rss/article/298551</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/b260df2483e93d8ba720a49ff79ec70c</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Crystallex International Corp. (TSX:KRY) said Friday it will do "whatever is necessary" to protect its shareholder&#039;s rights and move along the Las Cristinas mine in Venezuela despite comments by the country&#039;s environment minister that open-pit mining would be blocked.]]></description></item><item><title>Saudi Arabia says it increased oil output by 300,000 barrels per day last week</title><link>http://www.canadaeast.com/rss/article/298760</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/2ea8ccc00493779209bb9d9a9918a564</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Saudi Arabia, under U.S. pressure to increase its oil output amid soaring energy prices, said Friday it had raised production by 300,000 barrels per day on May 10 and that increase was sufficient.]]></description></item><item><title>WesternZagros stock rises on word of progress in Kurdish oil and gas work</title><link>http://www.canadaeast.com/rss/article/298731</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/c46998f9d1008a63a42d2a08de8b0b25</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[WesternZagros Resources Ltd. shares (TSXV:WZR) rose 12 per cent as the most active TSX Venture Exchange issue Friday after the Calgary-based oil and gas developer reported progress on its exploration work in the Kurdish region of Iraq.]]></description></item><item><title>US oil shipments into the Strategic Petroleum Reserve cancelled</title><link>http://www.canadaeast.com/rss/article/298666</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/ef831c4065e71a6889003fb1cf88d8e4</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Responding to congressional pressure, the Bush administration on Friday said it is suspending oil deliveries into the government&#039;s Strategic Petroleum Reserve for the remainder of the year.]]></description></item><item><title>Enmax raises offer for Cordero Energy to $4.75 cash per share from $4.35</title><link>http://www.canadaeast.com/rss/article/298729</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/294a9510dae85ad6b74fb83d459db517</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Enmax Corp. has raised its takeover offer for Cordero Energy Inc. (TSX:COR) to $4.75 per share from $4.35.]]></description></item><item><title>Thomas Cook gold quote: C$899 at close Friday</title><link>http://www.canadaeast.com/rss/article/285231</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/f351b08ab348030f294fdb69ea0189da</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Gold was quoted at C$899 bid (US$899) and C$900 asked (US$900) at the close of trading Friday by Thomas Cook, a major gold and foreign exchange dealer.]]></description></item><item><title>Schering-Plough CEO: Rebuilding on track with more products</title><link>http://www.canadaeast.com/rss/article/298707</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/2824d8559f32abfda249b4ec78b21c54</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Plough Corp.&#039;s chief executive told shareholders Friday the company remains on track five years into his rebuilding program, with a wider range of products and more drugs in late-stage development.]]></description></item><item><title>U.S. Treasury Secretary Paulson says markets are calmer now</title><link>http://www.canadaeast.com/rss/article/298653</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/90259cc6bd4a0bc52c89f9b25321636a</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[U.S. Treasury Secretary Henry Paulson said Friday that financial markets are "considerably calmer" now than they were two months ago. He predicted the economy will be rebounding by the second half of this year.]]></description></item><item><title>Oil price sets record near US$128; retail gas at new high</title><link>http://www.canadaeast.com/rss/article/285150</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/72ff2e5345f0d5d96c24c3c314b1bc38</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Oil prices held on to most of their gains Friday after Saudi Arabia&#039;s oil minister said his country boosted production by 300,000 barrels per day last week in response to requests from customers. The market also showed little reaction to news that the U.S. Energy Department is halting shipments to the Strategic Petroleum Reserve.]]></description></item><item><title>Biggest U.K. electricity producer British Energy attracts takeover interest</title><link>http://www.canadaeast.com/rss/article/298697</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/2929d757faa938696b85f66c479b21ca</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[British Energy Group PLC shares rose more than five per cent on Friday after the nation&#039;s biggest electricity producer disclosed several bidders had made preliminary offers to buy the company. It did not identify the bidders or the amounts.]]></description></item><item><title>Pacific Energy Resources posts $39.3M loss on realized and non-cash expenses</title><link>http://www.canadaeast.com/rss/article/298611</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/74d297f6f3ba78ec81a525592e77776b</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Pacific Energy Resources Ltd. (TSX:PFE) has posted a loss of $39.3 million in the first quarter as it logged both realized losses and non-cash expenses tied to its hedging program.]]></description></item><item><title>Rothmans annual profit up 18 per cent despite contraband and other challenges</title><link>http://www.canadaeast.com/rss/article/298459</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/7d4510718597c26d9ad0b69fdef1e98d</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Cigarette maker Rothmans Inc. (TSX:ROC) grew its full-year earnings by 18 per cent to $117.6 million, but said that despite certain regulatory changes to the industry, it was still being hit by contraband and competitive challenges.]]></description></item><item><title>TSX Venture Exchange up 20.67 points at 2,596.75</title><link>http://www.canadaeast.com/rss/article/286887</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/5ac7fc4be283ccf363c8c35b70e6367f</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[The TSX Venture Exchange stood at 2,596.75 up 20.67 points from Thursday&#039;s close. The volume at noon ET was at 108.27 million shares.]]></description></item><item><title>Fine silver quotations Friday: C$17.635 ounce</title><link>http://www.canadaeast.com/rss/article/285135</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/cc07fa5a82caf2d2dd9784d3d23da88f</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Handy and Harman fine silver quotations in Canadian dollars: Friday $17.635 oz., $566.97 kg.; Thursday $17.588 oz., $565.45 kg.]]></description></item><item><title>London closing metal market prices</title><link>http://www.canadaeast.com/rss/article/285132</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/badbeede163b802fd05a7f41eab70e98</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Closing metal markets Friday U.S. dollars a metric ton.]]></description></item><item><title>London FT-100 index closed up 52.50 points at 6,304.30</title><link>http://www.canadaeast.com/rss/article/285130</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/800f66fa6a4819c5d5c87a003355b0b8</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[The Financial Times Index of 100 industrials closed at 6,304.30, up 52.50 points on Friday.]]></description></item><item><title>Europe missing out on opportunity to participate in development of North: Emerson</title><link>http://www.canadaeast.com/rss/article/297090</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/0772553c7acd3e395f6b35b6c14e9a70</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Trade Minister David Emerson is telling Europeans they are missing out on a great opportunity in the future development of the North by not moving aggressively to strengthen economic ties with Canada.]]></description></item><item><title>Swedish hotel owner Pandox buys Hyatt Regency Montreal for $58.5M</title><link>http://www.canadaeast.com/rss/article/298567</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/d345d9763e5eb853bc7f6c4f8a2693d2</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Swedish hotel owner Pandox AB is advancing its expansion in North America by purchasing the Hyatt Regency Montreal for $58.5 million.]]></description></item><item><title>London gold closes at US$904, up $17.30</title><link>http://www.canadaeast.com/rss/article/285131</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/df5ffddf7952e45a242c550a389dfb0b</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Selected world gold prices Friday in US dollars a troy ounce:]]></description></item><item><title>ICE Futures Canada prices open unchanged</title><link>http://www.canadaeast.com/rss/article/285106</link><guid isPermaLink="false">http://www.canadaeast.com/rss/article/feaaa4d83c726cd422c3d3b4cf27a6af</guid><pubDate>Fri, 16 May 2008 00:00:00 -0300</pubDate><description><![CDATA[Prices were higher at the ICE Futures Canada on Friday.]]></description></item></channel></rss>
