Business News

Air Canada quietly adds fuel surcharges to Canadian flights

MONTREAL - The cost of air travel for many Canadians surged Friday after Air Canada (TSX:AC.A) quietly imposed domestic fuel charges for the first time in four years that could, for example, add an ex...

Soaring fuel prices likely to delay sale of Air Canada, says Milton

MONTREAL - Soaring fuel prices that have battered airline valuations will likely delay the sale of ACE Aviation Holdings majority stake in Air Canada (TSX:AC.A), says Robert Milton, the chairman and c...

March U.S. trade deficit drops by bigger-than-expected amount

WASHINGTON - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be on...

Tax fears prompt Aeroplan Income Fund to convert to a growth-oriented corporation

MONTREAL - Aeroplan Income Fund (TSX:AER.UN) plans to reorganize into a dividend-paying public corporation largely over concerns that it will soon lose its tax-free status by exceeding foreign ownersh...

MDA future dim after space division sale blocked, analysts say

VANCOUVER - Ottawa's confirmation it will block the $1.3-billion sale of MacDonald Dettwiler and Associates Ltd.'s (TSX:MDA) space division, coupled with a slowdown in the real estate sector where the...

Agnico-Eagle bullish about prospects with new mines coming onstream: CEO

TORONTO - The chief executive of Agnico-Eagle Mines Ltd. (TSX:AEM) says the mid-tier producer is poised for strong growth this year as more projects come on stream alongside an anticipated return to c...

GMP Capital Trust Q1 profit halved to $21M; revenue off 18 per cent to $94.1M

TORONTO - With its second-worst quarter behind it, GMP Capital Trust (TSX:GMP.UN), is well-positioned for future growth given its strong balance sheet, CEO Kevin Sullivan said Friday after the investm...

Gas jumps above $3.67, oil passes $126 on Venezuela concerns

NEW YORK - Oil rose above US$126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezue...

TSX stalls even as oil prices hit new highs; AIG losses, high crude send NY down

TORONTO - The Toronto stock market closed lower Friday as energy stocks failed to respond to another runup in crude prices to another record breaking high, while oil prices along with a huge loss at i...

Magellan Aerospace reports Q1 profit of $2.1 M, up from $1.7M loss a year ago

TORONTO - Magellan Aerospace Corp. (TSX:MAL) said Friday it earned a first-quarter profit of $2.1 million, compared with a loss of $1.7 million a year ago. The company, which makes aircraft parts a...