Winnipeg Free Press

1. July 24, 2008

2. CWB to send less grain north

   By Larry Kusch The Canadian Wheat Board said Wednesday it expects to export "significantly" less grain through the Port of Churchill this season because of low pre-harvest supplies.

3. Rising food prices pack punch

   By Eric Beauchesne OTTAWA -- Just as Canadian consumers are starting to get some price relief at the gas pumps, now they are being hit by higher prices at the grocery store as food joins energy in fuelling inflation.

4. Oil prices keep tumbling

   NEW YORK -- Oil prices shed nearly US$4 Wednesday, tumbling below $125 a barrel for the first time since early June on growing fears that high prices and the weak economy are destroying demand.

5. Hargrove pleads for auto industry

   By Kristine Owram TORONTO -- Canadian Auto Workers President Buzz Hargrove is calling on the federal government to take steps to revitalize the "horrible situation" faced by the Canadian auto industry after a second round of job cuts at a major automaker in two days.

6. Canadian cities costlier for foreign companies

   By Eric Beauchesne OTTAWA -- The strong dollar has made Canadian cities relatively more expensive places for foreign firms to relocate their employees, an annual survey of the living costs in major cities around the world has found.

7. CIBC, execs face suit

   By Jim Middlemiss TORONTO -- The subprime litigation frenzy in the United States has spilled over the border with the launching of a multi-billion-dollar class action against CIBC and eight current and former executives over failed investments in U.S. residential mortgages.

8. Oil price tumble sparks sell-of

   What the brokers say TORONTO -- The Toronto stock market moved lower Wednesday as the latest tumble in oil prices encouraged a further sell-off in energy companies.

9. Boeing confident for 2008/09 despite Q2 profit drop of 19%

   Delays hurt Boeing Co.'s second-quarter profit, which fell 19 per cent because of late delivery of military aircraft and rising costs from the postponed introduction of its 787 jetliner.

10. July 23, 2008

11. Manitobans bump up May sales

    By Murray McNeill Manitobans loaded up on everything from booze to building materials in May as they ignored some dark economic clouds on the horizon and soaring gas prices, and spent like there's no tomorrow.

12. Ottawa ponders windfall payout

    By Julian Beltrame The just completed $4.25-billion auction of wireless spectrum has changed the industry "forever" in Canada by ushering in a new era of increased competition that will mean lower prices for consumers, says Industry Minister Jim Prentice.

13. Skywalk pieces falling into place

    By Larry Kusch The city has reached a tentative agreement with three building owners to complete the downtown skywalk linking the Winnipeg Convention Centre with Portage and Main.

14. Toronto market posts loss

    What the brokers say TORONTO -- The Toronto stock market posted a moderate loss Tuesday with oil stocks doing most of the damage after disappointing corporate outlooks raised worries about the depth of an American economic slowdown, and sent oil prices sharply lower.

15. Oil-price drop brings relief for motorists

    OTTAWA -- With oil prices in their second week of steady declines, retail gasoline prices have also pulled back, with regular fuel falling sharply from one week ago to $1.329 a litre, according to MJ Ervin & Associates.

16. CP appoints exec to trim the fat

    By Scott Deveau TORONTO -- Hit by a 40 per cent plunge in second-quarter net income, Canadian Pacific Railway Ltd. vowed Tuesday to be leaner organization, appointing a new senior management position dedicated to driving out inefficiencies in the railway's operations.

17. Maple Leaf selling hog plant

    TORONTO -- Maple Leaf Foods (July 23 2008, 12: 25 am CDT) has begun the formal process to sell its Ontario pork processing business, part of a restructuring as the food producer combats hog prices that have not kept pace with rising feed costs.

18. July 22, 2008

19. Cellphone competition heats up

    By Murray McNeill Local cellphone users can expect more choice, better service and cheaper rates after two new service providers were given the go- ahead to enter the Manitoba market Monday and the three existing ones also acquired additional spectrum space.

20. Heat-loving crops lagging

    By Larry Kusch Manitoba farmers have a lot in common with beach-goers these days -- both are pining for an extended period of warm, dry weather.

21. GM keeps a soft spot for muscle cars

    NEW YORK -- Despite record-high gas prices and production and work force cuts, General Motors Corp. still has a soft spot for muscle cars.

22. 2 equity firms offer $7.8B for TransAlta Corp.

    By Lauren Krugel CALGARY -- Two U.S. private equity firms are offering about $7.8 billion -- or $39 a share in cash -- for Alberta-based utility TransAlta Corp. (July 22 2008, 12: 25 am CDT), which had been under pressure by a major investor to boost its stock price.

23. CN expects to meet target

    MONTREAL -- Canadian National Railway Co. (July 22 2008, 12: 25 am CDT) expects a stronger second half of the year will allow Canada's largest railway to meet its yearly earnings target despite reporting an 11 per cent drop in quarterly profit.

24. Apple's Q3 earnings increase by 31%

    By Jessica Mintz Macintosh and iPod sales helped boost Apple Inc.'s fiscal third-quarter earnings 31 per cent, beating Wall Street's expectations Monday, but investors pummelled the stock after Apple issued soft guidance for the current quarter.

25. Market racks up solid gains

    What the brokers say TORONTO -- The Toronto stock market racked up a solid gain Monday with leadership from the energy sector after oil prices rebounded from six-week lows.

26. Van Houtte expanding business in Canada, U.S.

    By Ross Marowits MONTREAL -- Gourmet coffee distributor Van Houtte will focus on expanding its business in Canada and the United States after appointing a new CEO and creating a position devoted to growing the brand across North America.

27. Canada's economy losing steam, says bank

    By Eric Beauchesne OTTAWA -- The weakening U.S. economy, the strong Canadian dollar and competition from offshore companies are draining the energy out of the Canadian economy, according to Scotiabank.

28. Priszm cuts distribution in half

    TORONTO -- Priszm Income Fund (July 22 2008, 12: 25 am CDT), which runs 465 KFC, Taco Bell and Pizza Hut outlets in Canada, cut its monthly distribution in half Monday as the restructuring company shored up its finances in a "tightening economic environment" and hopes to use the money saved to expand its multibranding strategy, develop new products and make acquisitions.

29. July 21, 2008

30. Up-and-coming risk takers

    By Murray McNeill They say they're not out to change the world, but two up-and-coming young architects are hoping to change the face of Winnipeg with some of their daring new designs.

31. Manitoba Movers

    PEOPLE John McMillan vice-president, commercial development, for Cangene Corp., announces he is retiring after 20 years with the company. McMillan has resigned effective immediately, but he will be available to the company in an advisory role until the end of the year. Cangene is using a professional recruiting agency to identify suitable candidates as rapidly as practical for a new position of vice-president of sales, marketing and business development.

32. Business Calendar

    This morning's opening numbers: S&P/TSX 13,515.96

33. More market declines ahead

    By Malcolm Morrison TORONTO -- The Toronto stock market is likely to see more declines in the coming week as commodity stocks drift lower and investors look to a second-quarter earnings season that is likely to be a letdown.

34. Bids sought for 'sci-fi' soldier system

    By David Pugliese Defence companies with branches in Ottawa and the Montreal area plan to enter the race to provide the Canadian military with a new soldier ensemble straight out of a sci-fi film.

35. July 20, 2008

36. Supercouple

    Joel Schlesinger If there were such a thing as superhero parents -- boldly rising to the challenge of child-care needs while balancing career aspirations -- Gerald Danais and Lori Van Dongen might fit the bill.

37. July 19, 2008

38. Feather flap

    By Lauren Krugel It's hard to recall all the details from the brightly coloured mail advertising the profits to be made raising pigeons -- except that there seemed to be a lot of zeros involved.

39. Wireless firm striving to develop its business

    e:By Martin Cash As the well-known players in the mobile communications business are plunking down billions of dollars in the new wireless spectrum auction, a small Winnipeg company is struggling to develop its own distinctive wireless communications business.

40. Returns on pension funds register on the plus side in Q2

    By Eric Shackleton TORONTO -- Canadian pension plans finally got a reprieve in the second quarter as soaring energy and material group stocks pushed investment returns into positive territory after three consecutive negative quarters, a survey released Friday shows.

41. Court upholds forced retirement

    OTTAWA -- A seniors' advocacy group is calling on governments to ban age discrimination in pension plans after a New Brunswick man forced to retire from a mining job lost an appeal of his case to Canada's highest court.

42. Evidence rolling in of less gas use

    By Lauren Krugel CALGARY -- It is hard to pin down exactly how big of a bite high prices are taking out of Canadian gasoline demand this summer, but it appears consumers and businesses are changing their habits as they try to cope with gasoline prices of $1.40 and higher.

43. More charges against former fund managers for Bear Stearns

    NEW YORK -- Federal prosecutors in the United States confirmed Friday that they expect to bring more criminal charges against two former Bear Stearns hedge fund managers already accused of lying to investors about the collapse of the subprime mortgage market.

44. Sony Ericsson slashing 2,000 jobs to cut costs

    STOCKHOLM, Sweden -- Mobile phone maker Sony Ericsson posted a 97 per cent drop in second-quarter earnings Friday and said it would slash 2,000 jobs around the world in a move to cut costs.

45. Financials lead way to modest gains

    TORONTO -- Financials led the way to a modest gain on the Toronto stock market Friday as investors felt more confident about bank stocks following good news from Citigroup and energy stocks lent some support even as oil prices continued to retreat.

46. Economic crisis made in U.S. now invading Europe

    MILAN, Italy -- It took a few months. But the economic woes touched off by soaring oil prices and the subprime mortgage crisis in the United States are finally engulfing Europe.

47. Reports rescue gloomy week

    By Julian Beltrame OTTAWA -- Two new indicators released Friday appeared to wash away some of the gloom about the Canadian economy that rocked equity markets earlier in the week.

48. July 18, 2008

49. Dawning of a new Bay

    By Murray McNeill and Martin Cash The Hudson's Bay Company's downtown Winnipeg store could see a return to its glory days as a retail powerhouse as the company's new U.S. owners look at ways to revitalize the struggling chain.

50. Expect more investment alphabet soup

    Dollars and Sense / David Christianson In the 2008 federal government budget (July 18 2008, 12: 25 am CDT), the federal government loosened the rules regarding registered retirement accounts that held locked-in money that people have transferred out of federally registered pension plans.

51. Sobering news brewing for beer lovers

    By Kristine Owram TORONTO -- With rising hops and aluminum prices, increased energy costs and an unusually cool summer in some parts of the country, the Canadian beer industry is facing a sobering year.

52. Crude price drops but gas stays same: Huh?

    By Lauren Krugel CALGARY -- If you're waiting for gasoline prices to be pulled down by the global price of crude oil, don't hold your breath.

53. Rising fuel prices hit trains, trucks

    MONTREAL -- Rapidly rising fuel prices and the sluggish North American economy are expected to batter truck and train companies' second-quarter results, says RBC Capital analyst Walter Spracklin.

54. Sterling Trucks plans to lay off 720 workers

    ST. THOMAS, Ont. -- Sterling Trucks is eliminating one of its two remaining shifts and laying off another 720 workers as of November as the southwestern Ontario manufacturer joins the ranks of Canadian companies being squeezed by a U.S. economic slowdown.

55. New boss boasts stellar resume

    By David Friend TORONTO -- Jeffrey Sherman -- who has held senior positions at some of the biggest names in American retailing including The Limited, Polo Ralph Lauren and Bloomingdale's -- has been chosen to manage the makeover of Hudson's Bay Co.

56. Price of Coke likely to rise in the fall

    NEW YORK -- Drinkers of Coca-Cola can expect to pay more starting this fall after the company's biggest bottler said Thursday that it would raise prices.

57. Safeway posts higher Q2 earnings

    NEW YORK -- Higher gas sales and a boost from its more upscale stores helped grocer Safeway Inc. post slightly higher second-quarter earnings Thursday, but a downbeat outlook because of consumers cutting back sent its shares tumbling more than 10 per cent.

58. Home prices cool but should still rise

    By Eric Shackleton TORONTO -- The strong housing market of the last few years has now cooled down as supply and demand have come more into balance, but prices will still rise this year, though not by double-digit figures of the past, says CEO Phil Soper of Royal LePage Real Estate Services.

59. U.S. regulators ask for records from Wachovia's HQ

    CHARLOTTE, N.C. -- Securities regulators from several U.S. states, investigating Wachovia Securities' auction rate securities sales practices, went to the company's St. Louis headquarters Thursday and requested its documents and records.

60. Mining and oil sap TSX

    What the brokers say -- The Toronto stock market closed lower Thursday as oil closed below US$130 a barrel for the first time since June 5 and mining stocks also sold off on worries about slowing economies.

61. Higher oil prices slowing demand

    By Adam Schreck NEW YORK -- Oil prices tumbled below US$130 a barrel for the first time in more than a month Thursday, as crude's dramatic slide entered a third day accompanied by a sharp sell-off in natural gas.

62. Commodities boom strengthens economy

    By Julian Beltrame OTTAWA -- Canadians all over the country are profiting from the ongoing commodities boom and helping to rescue the economy from recession, the Bank of Canada says.

63. PotashCorp spends to hike capacity

    SASKATOON -- Potash Corporation of Saskatchewan Inc., the world's largest fertilizer company, plans to spend US$1.6 billion to add 2.7 million tonnes of potash capacity at three of its Saskatchewan mines and mills.

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