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  • MasterCard profit misses Street as expenses rise

    January 31, 2014 2:02 PM 9

    (Reuters) - MasterCard Inc , the world's No.2 credit and debit card company, reported a 3 percent rise in quarterly profit but missed analysts' average forecast as expenses rose. Total operating expenses were up 21.1 percent at $1.21 billion as the company set aside $95 million for litigation settlements. The company said it also saw an increase

  • Walmart expects lower earnings for Q4

    January 31, 2014 1:38 PM 23

    Walmart says its fourth quarter and full-year adjusted earnings may hit lower than previously expected, possibly even below the low end of its prior forecasts. Walmart's latest expectation includes the effects of some Brazil-related charges and other items. Its stock fell nearly 1 percent in Friday pre-market trading. The world's largest retailer also revised

  • Cameco to sell stake in Bruce Power nuclear partnership to Borealis for $450M

    January 31, 2014 12:35 PM 13

    TORONTO - Saskatoon-based Cameco Inc. is selling its share of the Bruce Power nuclear partnership in southwestern Ontario to Borealis Infrastructure. Borealis will pay $450 million for Cameco's portion and become the majority partner with 56.1 per cent ownership of Bruce Power. Bruce Power operates four of the eight nuclear reactors at a complex in Tiverton

  • Danier Leather says ice storms, power outages drove down Q2 sales, profit

    January 31, 2014 11:07 AM 18

    TORONTO - Danier Leather Inc. says bad weather and power failures in Eastern Canada have had a chilling effect on its sales and profit. The Toronto-based leathergoods retailer and manufacturer had $62 million of sales in the quarter ended Dec. 28. That's down from $66.1 million in sales a year earlier, while comparable-store sales dropped seven per cent. Danier

  • Enbridge gets approval to upgrade Toronto area natural gas distribution system

    January 31, 2014 1:01 AM 13

    TORONTO -- Enbridge (TSX:ENB) says it has received approval from the Ontario Energy Board to upgrade the backbone of its natural gas distribution system in the Greater Toronto Area. The GTA Project will provide upgrades to the natural gas distribution system that supplies natural gas to Brampton, Mississauga, Richmond Hill, Vaughan, Markham and Toronto

  • Heenan Blaikie’s future in doubt, fate expected to be announced Monday

    January 31, 2014 12:48 AM 29

    Some of Toronto’s biggest Bay Street law firms are now actively recruiting clients of Heenan Blaikie LLP as word spreads that the firm may soon take drastic action to deal with financial challenges. A source with knowledge of the situation says the national corporate law firm of more than 500 lawyers is working on a plan for a sort-of “Heenan Blaikie

  • Ottawa calls for an investigation into propane price jumps

    January 31, 2014 12:08 AM 41

    OTTAWA -- The federal government is calling for an investigation of a "fairly serious" propane supply crisis that has seen prices for the fuel nearly double since the fall. Ontario's energy minister welcomed Thursday's announcement but critics say the probe will do little to help farmers and other rural residents cope with the skyrocketing cost of keeping

  • Ottawa set to raise civilian liability for nuclear, oil operators to $1B

    January 30, 2014 11:16 PM 16

    OTTAWA -- The Conservative government has introduced legislation that would dramatically bump up the amount of liability coverage required for nuclear plants and offshore oil and gas operations. The new $1-billion liability replaces the current $75-million minimum for nuclear operators and liability thresholds of between $30 million and $40 million for energy

  • Province rolls out warranty protection for new home buyers

    January 30, 2014 11:13 PM 27

    Home builders in Alberta will have to provide buyers of new homes with warranty coverage starting February 1, 2014. The province says the New Home Buyer Protection Act and supporting regulations will require builders to provide mandatory home warranty coverage for new homes built in the province. “Starting in February, we’re rolling out the strongest

  • Best Buy Canada slashes jobs amid online sales push

    January 30, 2014 10:22 PM 24

    Prices at big retail chains across the country are being squeezed — and so are headcounts. A crowded marketplace and a more fickle Canadian consumer are resulting in a painful bloodletting in the form of widespread layoffs at some major retailers. This month alone, more than 3,200 have been handed pink slips, two-thirds of them at beleaguered Sears Canada