Stock markets head for weak open as Chinese inflation data raises growth worries
TORONTO - North American stock markets appeared headed for a flat open amid fresh worries that China will have to slow economic growth in order to control inflation.
National News
Housing prices rise for third straight month in January: StatsCan
OTTAWA - The New Housing Price Index rose 0.4 per cent for the third straight month in January.
Devon Energy to partner with BP in Alberta oilsands, sell US$7 billion of assets elsewhere to BP
LONDON - BP PLC is partnering with Devon Energy Corp. to develop an Alberta oilsands project as part of a much larger deal in which BP will pay US$7 billion to buy exploration rights in several countries from the Amerian company.
Trade surplus grows as exports up, imports down in January: StatsCan
OTTAWA - Canada's merchandise exports grew 0.5 per cent in January, while imports declined 1.7 per cent.
GDP growth of 3.1 per cent expected this year, says RBC Economics
TORONTO - A new forecast from RBC Economics says Canada's economy is poised for real GDP growth of 3.1 per cent this year and 3.9 per cent in 2011.
Protesters clash with police in Athens demonstration during Greek general strike
ATHENS - Savage street clashes erupted between rioting youths and police in central Athens Thursday as more than 30,000 people demonstrated during a nationwide strike against the cash-strapped government's austerity measures.
Oil hovers around $82 in Europe as traders look for US crude demand to match growing economy
Oil prices hovered around $82 a barrel Thursday in Europe as traders weighed stagnant U.S. crude demand against a gradual global economic recovery.
Transat AT's Q1 revenue down, company posts $13.9 million loss
MONTREAL - Transat A.T. Inc. (TSX:TRX.A) says it had a $13.9-million net loss last quarter.
HSBC says data on Swiss bank accounts of 24,000 customers stolen, exposing them to tax probes
GENEVA - Information on 24,000 HSBC customers with Swiss accounts has been stolen, the British bank said Thursday, potentially exposing large numbers of international clients to prosecution by tax authorities in their home countries.
CIBC World markets predicts dollar could hit parity with U.S. currency this summer
TORONTO - Expectations of higher interest rates and investor demand for Canada will help drive the Canadian dollar past parity with the U.S. greenback by this summer, says CIBC World Markets.
Toyota subsidiary Daihatsu recalls around 275,000 cars in Japan
TOKYO - Daihatsu Motor, a subsidiary of Toyota, said Thursday it will recall around 275,000 vehicles in Japan due to faulty brake lamps and loose bolts in the suspension system.
Lawmakers to probe govt US agency's handling of Toyota recalls, auto industry
WASHINGTON - Toyota's massive recalls are bringing new scrutiny to the U.S. government's safety agency, prompting Congress to look at how federal safety officials have lived up to their mission of protecting motorists.
Minister says Alberta's royalty changes will be popular with the energy sector
EDMONTON - The growth of Alberta's energy sector over the next couple of years will be hanging in the balance as the province announces royalty changes today.
BP to buy exploration rights in Brazil, Azerbaijan, Gulf of Mexico from Devon Energy for $7B
LONDON - Oil company BP PLC said Thursday it will pay $7 billion to acquire exploration rights in Brazil, Azerbaijan and the Gulf of Mexico from Devon Energy Corp.
Ballard revenue falls to US$16.5 million in Q4, US$46.7 million for 2009.
VANCOUVER, B.C. - Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) says it earned US$16.5 million in its fourth quarter.
China inflation rises in February, adding to pressure to keep recovery on track
BEIJING - China's inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the world's third-largest economy on track.
Japan revises down 4Q economic growth to 3.8 per cent annualized rate from 4.6 per cent
TOKYO - Japan's economic growth was weaker than first estimated in the fourth quarter, underscoring a patchy recovery in the world's No. 2 economy.
Glentel Inc. reports Q4 earnings of $5M up from $897,000 in Q4 of 2008
BURNABY, B.C. - Glentel Inc. (TSX:GLN) said Wednesday that it earned $5 million, or 46 cents per share for the three months ended Dec. 31.