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CORRECTED: Qatar Rail grants Doha Metro contracts worth $8.2 bn

Agence France-PresseJune 6, 2013 18:49

Qatar Rail has awarded four contracts to design and build railway lines worth $8.2 billion in the first phase of construction for the Doha Metro, a newspaper reported on Thursday. "These four D&B contracts for the first phase of Qatar's ambitious metro rail include Red Line North, Red Line South, Green Line and Major Stations," said the Peninsula, an English-language daily. One of the contracts for the construction of the two most emblematic stations of the metro was won by a consortium led by South Korea's Samsung C&T.

Price of oil rises above $94 a barrel as US supplies of oil shrank

The Canadian PressJune 6, 2013 11:44

BANGKOK - Oil rose above $94 per barrel Thursday on the heels of a big drop in U.S. oil supplies, but analysts didn't expect to see prices take off. Benchmark oil for July delivery was up 55 cents to $94.29 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 43 cents to close at $93.74 a barrel the day before.

With a poor opening for 'After Earth,' is Will Smith's reign as Mr. Bankable Box Office over?

The Canadian PressJune 5, 2013 15:28

LOS ANGELES, Calif. - It used to be that if a summer flick starred Will Smith, it was a guaranteed moneymaker: First place at the box office, maybe a franchise in the making. But the 44-year-old actor's latest film opened with a thud. "After Earth," a futuristic action-adventure co-starring Smith's 14-year-old son, Jaden, debuted in third place, collecting a disappointing $27.5 million over the weekend. "It's tough because we're very proud of the film," said Sony's president of worldwide distribution, Rory Bruer.

US trade deficit widens 8.5 per cent to $40.3 billion in April as imports outpace exports

The Canadian PressJune 5, 2013 15:23

WASHINGTON - The U.S. trade deficit widened in April, as demand for foreign cars, cellphones and other imported goods outpaced growth in U.S. exports. The Commerce Department said Tuesday that the trade gap rose 8.5 per cent in April from March to $40.3 billion. Exports increased 1.2 per cent to $187.4 billion, the second-highest level on record. Companies sold more telecommunications equipment, industrial machinery and airplane parts, while U.S.-made autos and auto parts also rose to an all-time high of $12.8 billion.

Oil rebounds to near $93 a barrel in European trade after reaching lowest level in a month

The Canadian PressJune 3, 2013 02:31

The price of oil rebounded to near $93 a barrel on Monday amid signs of an economic improvement in Europe at the start of what could be a pivotal week in financial markets. Earlier, prices fell to their lowest level in a month on the back of mixed Chinese manufacturing data. The coming week is jam-packed with economic data, culminating in Friday's U.S. nonfarm payrolls report for May.

Oil price falls below $92 as OPEC keeps output target steady amid growing supply

The Canadian PressJune 1, 2013 00:46

NEW YORK, N.Y. - The price of oil fell two per cent to its lowest level in a month after OPEC stuck to its current production target despite ample supplies of crude. U.S. crude oil futures fell US$1.64 to close at $91.97 a barrel Friday in New York. Brent crude, the benchmark for many international oil varieties, fell $1.80 to close at $100.39 in London.

Oil price falls below $92 as OPEC keeps output target steady amid growing supply

The Canadian PressMay 30, 2013 13:31

The price of oil fell 2 per cent to its lowest level in a month after OPEC stuck to its current production target despite ample supplies of crude. U.S. crude oil futures fell $1.64 to close at $91.97 Friday in New York. Brent crude, a benchmark for pricing oil used by many U.S. refineries to make gasoline, fell $1.80 to close at $100.39 in London.

Federal government posts $18.3B deficit for April 2012-March 2013

The Canadian PressMay 31, 2013 11:45

OTTAWA - The federal government posted a deficit of $18.3 billion before adjustments for the 12 months ended March 31 on Friday. The results compared with a deficit of $21.6 billion in the same period a year earlier. The Finance Department said the results were in line with the March budget which projected a $25.9-billion deficit after the year-end adjustments. Federal government revenue for the 12-month period totalled $253.9 billion, up by $3.4 billion from a year earlier, helped by higher income tax revenues, tariffs and Employment Insurance premiums.

Most actively traded companies on the TSX, TSX Venture Exchange markets

The Canadian PressMay 30, 2013 18:46

TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (12,746.55 up 13.95 points): Kinross Gold Corp. (TSX:K). Miner. Up 53 cents, or 8.76 per cent, at $6.58 on 9.34 million shares. The gold sector led all advancers on the TSX, rising 4.99 per cent to 205.64 points.

Via Rail first-quarter net income triples to $11.5 million after service changes

The Canadian PressMay 30, 2013 11:17

MONTREAL - Via Rail managed to trim operating losses and increase net income to $11.5 million in the first quarter despite a dip in revenues after the passenger railway reduced long-haul service. The arms-length Crown corporation said Thursday that its profits for the period ended March 31 increased from $3.9 million a year earlier. Via benefited from reduced operating expenses, lower capital spending and higher government subsidies.