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Price of oil falls below $96 per barrel as traders await data, Fed chief Bernanke's speech

The Canadian PressMay 20, 2013 02:45

BANGKOK - The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief. Benchmark crude for June delivery was down 25 cents to $95.77 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents to close at $96.02 a barrel on Friday.

'Trek' does $70.6M but falls short of studio hopes; 'Iron Man 3' tops $1B worldwide

The Canadian PressMay 19, 2013 13:01

LOS ANGELES, Calif. - "Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations. The latest voyage of the starship Enterprise fell short of its predecessor, 2009's "Star Trek," which opened with $75.2 million.

Powerball lottery jackpot in U.S. worth some $600 million

Agencia EFEMay 19, 2013 11:45

Washington, May 18 (EFE).- The jackpot for America's Powerball lottery has reached some $600 million and could get even bigger with the sale of tickets before Saturday night's drawing, the organizers said. The chances of winning the prize are 1 in 175 million, according to the Powerball Web site. The Powerball lottery is played in 42 states of the union, in Washington D.C. and the Virgin Islands. In March 2012 the Mega Millions lottery shared out $656 million, the biggest prize in the nation's history.

Hydro-Quebec Q1 profits increase 1.7 per cent to $1.36 billion on higher exports

The Canadian PressMay 17, 2013 18:01

MONTREAL - Hydro-Quebec says it earned $1.36 billion in its latest quarter, up from $1.34 billion a year ago, helped by higher electricity sales and exports. The public utility said revenues for the quarter period ended March 31 increased by to $3.98 billion, up from $3.74 billion a year ago. Hydro-Quebec's power generation division earned $745 million from continuing operations, up $125 million from the prior year. The increase was due to a higher revenues from electricity sales and exports, while purchases of Rio Tinto Alcan power decreased by $29 million.

Congressional budget analysts say Obama budget pares deficits by $1.1 trillion over decade

The Canadian PressMay 17, 2013 16:47

WASHINGTON - President Barack Obama's budget would trim projected federal deficits by $1.1 trillion over the coming decade, using nearly $6 in higher revenues for every $1 in reduced spending to achieve it, Congress' nonpartisan budget analyst said Friday. After four straight years of annual shortfalls exceeding $1 trillion, the Congressional Budget Office report said Obama's budget would push this year's deficit down to $669 billion. Annual shortfalls would shrink slowly to $399 billion in 2017 before rising again, the report said.

Shares of Tableau Software soar in trading debut after raising $254.2M in IPO

The Canadian PressMay 17, 2013 12:01

NEW YORK, N.Y. - Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering. Seattle-based Tableau Software Inc. provides software that helps businesses convert data into visual presentations. The shares jumped $17.50, or 56 per cent, to $48.50 in morning trading. Earlier, the company sold 5 million shares for $31 each and total proceeds of $155 million. Certain shareholders sold an additional 3.2 million shares at the same price for $99.2 million.

Budget watchdog says AECL to cost taxpayers additional $236 million this year

The Canadian PressMay 17, 2013 12:00

OTTAWA - Atomic Energy of Canada Ltd. is continuing to be a money pit for taxpayers. The parliamentary budget officer's latest analysis of the government's spending estimates shows the Crown corporation will cost the public purse an additional $236 million this year, bringing the total to $362 million for 2013-14. The additional money is for AECL's research and development program.

Oil up to near $96 in European trade as investors await US economic indicator

The Canadian PressMay 17, 2013 05:45

The price of oil rose to near US$96 a barrel on Friday ahead of the release of Conference Board's index of leading indicators for the U.S. economy. By early afternoon in Europe, benchmark oil for June delivery was up 45 cents to $95.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents on Thursday. The Conference Board's index attempts to gauge what's coming over the next several months — investors will watch it for clues about the strength of the recovery in the world's largest economy.

Ontario Power Generation Q1 net income drops to $28M from $154M in 2012

The Canadian PressMay 16, 2013 18:46

TORONTO - Ontario Power Generation Inc. has reported a big drop in first-quarter net income as the bottom line was hurt by higher operating expenses and depreciation costs and lower earnings on nuclear funds. The provincially owned utility says its net income fell to $28 million in the three months ended March 31. That was down from $154 million in the same 2012 period. Revenue totalled $1.26 billion, up from just under $1.2 billion.

Ticketmaster, customers agree to $23M settlement over $9-a-month rewards program

The Canadian PressMay 16, 2013 18:46

LOS ANGELES, Calif. - Ticketmaster has agreed to settle claims for up to $23 million over a lawsuit affecting more than a million people who, after buying a ticket online, were enrolled in a rewards program that cost $9 a month but never gave them any benefits. U.S. District Judge Dale Fischer in Los Angeles approved the settlement last week. Plaintiffs' attorney Adam Gutride said affected customers will be sent an email Friday with a link to a website where they can file a claim. Each customer can get up to $30.