Business and Economy

The Best and Worst Things to Buy in March

Spring is at our doorstep, and even if you’re planning to stay glued to the couch for all of March Madness, you’ll also likely be doing a bit of spring shopping. To help you save big, we’ve mined the extensive DealNews archives for sales, coupons, daily deals, and individual products from the past few years …

Balanced BC Budget 2014

  The B.C. government has just tabled its second successive balanced budget, with projected surpluses over the course of the three-year plan. We are also on track to end the current fiscal year with a surplus of $175 million. This grants us membership to a very exclusive club — provinces with a balanced budget. In fact, depending on …

Posh ranch to go on sale for $37.8 million in Alberta’s cowboy country

MILLARVILLE, Alta.—If you’re a multi-millionaire with a dream of living in cowboy country, Sotheby’s auction house may have the perfect thing for you. The sprawling Kettle Lake Ranch near Millarville, Alta., is going up for sale with an asking price of $37.8 million. That pays for a posh three-bedroom, three-bathroom bungalow on the shores of …

ClearlyContacts operator Coastal.com being bought for $445M by France’s Essilor

VANCOUVER—Online optical company Coastal.com (TSX:COA) is being sold to France-based Essilor International for $445 million. The Vancouver-based company, operator of such websites as ClearlyContacts.com among others, says Essilor has offered $12.45 per share in cash for all of its shares. It says the offer represents a premium of 43 per cent over the company’s three-month, …

Asia stock markets mostly higher after better than expected US housing figures

TOKYO—Shares were mostly higher Thursday in Asia following gains on Wall Street after the release of better-than-expected housing data. Hong Kong’s Hang Seng was up 0.9 per cent at 22,638.65 and Seoul’s Kospi gained 0.2 per cent to 1,974.35. Markets in Southeast Asia were also higher and China’s Shanghai Composite added 0.5 per cent to …

New Zealand government will sell stake in 3rd state owned power company

WELLINGTON, New Zealand – New Zealand’s government has announced plans to sell a slice of a third state-owned power company as the final step in a contentious program of asset sales. Finance Minister Bill English said in a speech Wednesday that it planned to list Genesis Energy on the stock market in mid-April. He said …

Federal emergency order says oil shipments must meet more stringent shipping rules

WASHINGTON – Federal regulators issued an emergency order Tuesday requiring more stringent testing of crude oil before shipment by rail to determine how susceptible the cargo is to explosion or fire, a response to a string of train accidents since last summer involving oil from the Bakken region of North Dakota and Montana. The order …

Morgan Stanley in preliminary deal to pay $275 million to settle mortgage bond probe with SEC

  NEW YORK – Morgan Stanley said it has reached a preliminary agreement with the Securities and Exchange Commission to settle an investigation into the investment bank’s subprime mortgage business. Morgan Stanley agreed to pay $275 million in fines to settle the investigation, according to a regulatory filing made late Tuesday. The SEC’s commissioners have …

Bank of America faces new regulatory probes into housing and foreign exchange practices

  NEW YORK – Bank of America is facing new probes into its mortgage practices as well as its foreign exchange business. The bank, which has already paid out billions of dollars to settle legal claims resulting from the housing and financial crisis, said in a regulatory filing late Tuesday that it was co-operating with …

FDA will add inspectors in India to oversee safety, quality of growing number of imported meds

  WASHINGTON – The head of the Food and Drug Administration said Friday that her agency will add more inspectors in India to better monitor drugs from the country’s burgeoning pharmaceutical industry, even as her agency also seeks closer co-operation from Indian regulators. FDA Commissioner Margaret Hamburg said the FDA will expand to 19 staffers …

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