Sizing up B.C.'s Strengths and Challenges in the Global Economy

Back to Basics

Unemployment During the Downturn : Underworked

Where unemployment has hit hardest

Mining Mergers : Let's Dig Together

Xstrata proposes a deal with Anglo American as big mining mergers swing back into fashion

Debt Threat in Italy

Italy's government, so far, has reassured credit rating agencies

Explaining the Oil-Price Rally : A Bucking Bronco

An EU Fudge on Bank Reform

European Union leaders avoided a row over bank regulation—but only by being ambiguous

Ottawa Refuse d'Aider Toronto pour l'Achat de Tramways de Bombardier

Ahead of the Bell: Research in Motion

From the Farm, Carney's Lesson for Bay St.

Retail Sales Take Unexpected Dip in April

The Economist - Business This Week : Hollywood players

Screen Digest reported that despite a huge increase in sales of Blu-ray discs, total sales for the global film-disc business fell by 4.8% last year. The media-analysis firm said the home-entertainment industry’s hope for a revival in fortunes had been undermined by Blu-ray’s “format war” with HD DVD, which impeded the kind of market shift seen in the switch from video to DVD.

Lord Rogers, an architect whose works include the Lloyds building in London, complained that his modernist redevelopment plan for the site of a former barracks in central London had been scuppered by interference from Prince Charles, who waged a private campaign for an alternative classical design. The site was bought for £1 billion ($1.6 billion) by Qatar’s property-investment arm, which is resubmitting the plans. The prince’s building trust said it would participate in a “more open” process.

Six Flags filed for Chapter 11. Revenue has plunged at the company, which owns 20 amusement parks. It needs to restructure around $2 billion of debt that it hopes will allow it to leave bankruptcy protection soon. A new ride to pull in the summer crowds at its Magic Mountain theme-park could also help: its name is Terminator Salvation.

MySpace to Lay Off 30 Percent of Staff

FedEx Posts Quarterly Loss of $876 Million

J. B. Reed/Bloomberg News FedEx workers sorted and loaded packages Wednesday at Harlem River Yards in New York.

America’s Current-Account Deficit Drops 34.5% from Q4

THE ECONOMIST : America’s current-account deficit dropped sharply in the first quarter, to $101.5 billion (or 2.9% of GDP), its lowest level since the last quarter of 2001. The main reason was the steep decline in imports, particularly oil and oil products and industrial supplies and materials.
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Current account trade deficit drops to $101.5B

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The European Central Bank

General Motors Sells Saab : Unstable Atom

After finding buyers for its Hummer and Saturn brands, General Motors entered an agreement to sell its Saab division to Koenigsegg, a tiny maker of high-performance cars based in Sweden. The deal is tied to a $600m loan backed by the Swedish government. Koenigsegg’s claim to fame is building a car that reportedly picked up a speeding-ticket in America when it was clocked at 242mph

Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group launched a share issue to raise capital. The Japanese bank hopes to bring in ¥923 billion ($9.6 billion), the biggest public offering in Japan for several years.

Fund Management : Wasting Assets

Barclays accepted BlackRock’s offer to buy Barclays Global Investors for $13.5 billion. The combination of BGI, which is based in San Francisco, and BlackRock creates the world’s biggest money-manager, with around $2.8 trillion in assets under management.

UK : Reforming Bank Regulation : Turf Wars in Black Tie

Mervyn King, the governor of the Bank of England, and Alistair Darling, the chancellor, struck different tones on banking regulation in twin speeches to City executives. Mr King said Britain’s central bank needed more power to discharge its regulatory responsibilities, as it could now do no more than “issue sermons or organise burials”.

Financial Reform in America New Foundation, Walls Intact

The Obama administration announced the most sweeping changes to America’s financial regulatory system in decades. In a white paper it proposed greater authority for the Federal Reserve, enabling the central bank to supervise all systemically important financial firms, supported by a multi-agency council; powers for the federal government to seize and dismantle large distressed companies; tougher rules on derivatives and securitisation; and a requirement for hedge funds to register with regulators. A new agency will be formed to bolster consumers’ rights. Congress will deliberate over the plans.

Coffee and Pastries but no Debate

Tillerson: shrugging off questions

Ecuador's Winning Strategy

Medvedev: World Needs New Reserve Currency

Emerging Economies Want More Say

The global financial meltdown has caused concern about the strength of the dollar

Carney May Buy Bonds as Dollar Hits Canada Economy

Alberta’s Economy Takes a Nosedive: RBC

A rock truck pulls away from the shovel with a full load from the Albian Sands Muskeg River Mine in Fort McMurray. These are difficult days for the oilsands, one of the few remaining engines of Alberta's -- and Canada's -- economy.
Photograph by: Reuters, The Edmonton Journal

New Brunswick : Economy Predicted to Rebound in 2010

Paul Ferley, assistant chief economist with RBC Economics

Ontario Economy Goes Deep

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Ontario economy could shrink by 3.4 per cent this year, says RBC Economics
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Abbotsford Economy to Shrink this Year: Report : Reduced Construction, Lower Demand for Resources will Hurt B.C.

Manufacturing and construction started the year on a weak note in Abbotsford and that negative growth is on tap in the goods sector because construction and manufacturing are not expected to rebound this year.