The early response by the politicians to the onset of the Depression was denial. "In the 1930s, there was a reluctance to intervene ... the thought that this was a temporary adjustment," said Bill Waiser, a professor of history at
EnCana executives are out canvassing banks this month, attempting to nail down terms on loan packages that will support the two units that will be born from a breakup of the parent. Bankers working on new terms for $9.9-billion in
The talks between GM and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago and are not certain to produce a deal, the paper said.
Movie theatre operator National Amusements Inc. said Friday that a subsidiary plans to sell $400-million (U.S.) of its nonvoting shares in Viacom and CBS Corp. to pay down debt. All three companies are controlled by Sumner Redstone.
Friday marked the fifth straight day that shares of the nation's second-largest investment bank have been pummeled. The latest round of selling was triggered on renewed fear that Morgan Stanley's credit ratings might be cut, a move that threatens earnings
Bank of Nova Scotia and the Bank of Montreal announced they will reduce their rates by one-quarter of a percentage point, or 25 basis points, to 4.25 per cent, effective Tuesday.
Canadian employers turned a blind eye to the mounting financial turmoil in September and hired a record number people for a single month, adding 107,000 new jobs, according to Statistics Canada.
The officials from the Group of Seven countries issued a five-point plan aimed at reversing a credit crisis that has unhinged Wall Street and markets around the globe. They pledged to take "decisive action and use all available tools."
The chief operating officer had been talking about the need to keep lending to customers at reasonable rates while at the same time maintaining a safe and sound bank.
Copper for three-months delivery on the London Metal Exchange plummeted to $4,570 (U.S.) a tonne, its lowest level since January, 2006, and its biggest one-day fall in electronic trading in both absolute and percentage terms since at least February, 2001,
