Finance counsels

CTV Television Inc. says it has asked the CRTC for a one-year renewal on the licences of its A Channel television stations – the shortest term that can be requested – as the big broadcaster grapples with declining advertising revenues and a tough economy.
In a memo to CTV employees Friday, the company said that […]

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Torstar Corp. has announced a series of senior management changes that will see the company’s chief executive step down and former Toronto Star publisher John Honderich become chairman of the board.
The diversified media company that publishes The Star, and a stable of daily and weekly newspapers in southern Ontario, said that Robert Prichard who has […]

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Some of the biggest and most disparate names in American retailing — Macy’s, Home Depot, Target — reported steep profit declines on Tuesday, highlighting the breadth of the pain being felt by the nation’s chains.
"We anticipated a difficult quarter and year, and they were all that and more," Home Depot’s chief executive, Frank […]

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NEW YORK – Oil prices tumbled below US$39 a barrel today as traders shrugged off reports that OPEC had slashed production, focusing instead on falling stock prices.
Light, sweet crude for April delivery for April delivery fell four per cent, or $1.59, to settle at $38.44 a barrel on the New York Mercantile Exchange. Prices […]

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Amid the wreckage of the mortgage business nationwide, there’s still a way to get a low-interest, government-backed home loan without putting up a penny for a down payment.
The catch, if it can be called that, is the borrower’s new home must be in a rural area or a town of 20,000 or fewer […]

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The portal for foreign goods to enter St. Louis just got a whole lot bigger.
The U.S. Department of Commerce gave its OK last week to expand the region’s Foreign Trade Zone by more than 825 acres. County officials say it’s a big boost for the ongoing plan to develop a Chinese air cargo […]

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WASHINGTON — Choose carefully when you pick someone to do your taxes.
The Internal Revenue Service is warning people that they — not the tax preparer — are responsible if fraudulent returns are submitted under their names, even if they were unaware of the fraud. And with that responsibility comes the cost of penalties […]

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Some big banks have cut back on doing business with mortgage brokers - and if the trend continues, many mortgage brokers could close down.
That may be bad news for consumers because fewer brokers could lead to a less competitive marketplace and more expensive home loans resulting from consumers not being able to easily comparison-shop […]

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U.K. housing sales dropped to the lowest level since at least 1978 in the quarter through January as property prices dropped further and Britain’s recession deepened, the Royal Institution of Chartered Surveyors said.
The average number of transactions in a survey of real- estate agents and surveyors dropped to 9.9 per respondent, the lowest […]

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WASHINGTON — Recession-battered employers eliminated 598,000 jobs last month, the most since the end of 1974, and catapulted the unemployment rate to 7.6 percent, the Labor Department reported Friday.
Many economists said job losses for this month are likely to be just as bad, and they don’t expect the labor market to return to […]

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