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Your Canadian Business News in 10 Minutes

Read business news personalized to your individual tastes. Just click on the stories that interest you, and let Topic Snack do the rest.

OPG posts $142M loss in third quarter. Ontario Power Generation Inc., Canada's largest producer of nuclear power, has posted a $142-million loss in the third quarter, reversing a $113-million profit in the same period of 2007.   Citigroup stock slides below $4 a share. Citigroup Inc. shares extended their precipitous slide Friday, after an initial lift from a report that said the banking giant was considering a sale to rebuild investor confidence.   Car dealers plead for help. Canada's 3,500 car dealers are asking the federal government to take aggressive measures to help the ailing automobile industry.   GM to announce more production cuts. General Motors Corp. is telling workers that it will make further production cuts at several factories, according to people briefed on the discussions.   Sears Canada profit up on higher sales. Sears Canada Inc. has reported third-quarter earnings of $68.9 million as same-store sales increased 0.9 per cent from the comparable period a year ago despite a tough retail environment.   Crisis could cost 215,000 German jobs. The German economy could lose up to 215,000 jobs in 2009 amid the global economic crisis, Germany's Bild newspaper said Friday, citing a survey it compiled.   Wal-Mart names Duke as next chief. Wal-Mart Stores says Mike Duke, vice chairman of its international division, will replace Lee Scott as president and chief executive when he retires from those positions in February.   Toronto inflation rate tumbles. Sharply falling energy prices took the steam out of inflation in Canada last month with Toronto's rate dropping a full percentage point to 2.7.   Asia, Europe stocks rebound. European and Asian stock markets rebounded Friday as expectations of a recovery on Wall Street prompted investors to scoop up battered financial and energy shares.   Ontario mayors meet over auto sector. Mayors from more than 30 Ontario municipalities with ties to the auto trade are meeting in Toronto later today to talk about the ailing sector.   Oil moves above $50 a barrel. Oil prices rose off a three-year low, creeping above $50 a barrel Friday in Asia as investors took a cue from a rebound in regional stock markets.   Honda to cut global output. Honda Motor Corp. said Friday it will cut production in Japan and Europe by 61,000 vehicles, as it continues to grapple with slowing global demand.   Force no solution to Somali piracy. What's needed is restoring the country's stability   Diesel vehicle operators mind gap in fuel prices. Diesel fuel has historically been cheaper than gasoline. It's why Michael Ivanco last year bought a diesel-powered Volkswagen Golf for his wife for her daily commute between Oakville and Waterloo.   Bank stocks spur a TSX bloodbath. Anxiety over the upcoming bank earnings season hit a fever pitch yesterday after Toronto Dominion Bank warned its fourth-quarter results would be impaired by $350 million in credit trading losses at its investment bank.   Internet `throttling' complaint rejected. When it comes to talking to friends on the other side of the country, Steve Anderson prefers to use the Internet-calling service Skype in a bid to dodge the hefty long-distance fees charged by local phone providers.   Teck Cominco cuts dividend, spending plan. Teck Cominco Ltd. is suspending dividends, slashing capital spending and selling assets to save more than a billion dollars as it struggles under a massive debt load.   Innovation key to pension reform: report. Ontario needs a full-time pension champion to get more workers into big, sophisticated pension plans, says the province's Expert Commission on Pensions.   Honda cuts production by 18,000 vehicles. Honda Motor Co. said yesterday it will cut its North American production by another 18,000 vehicles, citing the industry-wide drop in demand for new vehicles.   Treasury note yields signal market's direction. I don't know about you, but lately this bear market has me feeling trapped in a Monopoly Game waiting for a get-out-of-jail card. Now, in the game players in jail cannot collect rent, build houses or conduct trades.   Business mortgage securities fuel fears. A new wave of loan defaults, this time tied to commercial mortgages, is starting to hit insurance companies and may be contributing to the stock market's woes.   U.S. jobless benefit claims hit 1992 level. New claims for unemployment benefits jumped last week to a 16-year high, the labour department said yesterday, providing more evidence of a rapidly weakening job market expected to get even worse next year.   TSX falls 9% as banks' woes grow. Stocks faced another brutal day across North America, but it was the Toronto Stock Exchange that was hardest hit – plunging more than 750 points yesterday to its lowest level in five years.   Young Mr. Weston's fresh take catching on. Loblaw's Galen G. Weston has hit his stride as company spokesperson   What's in store when people stop shopping. Consumers are growing increasingly shy, paving the way for a period of poor economic performance and soaring unemployment   Wealthy business clan rides wave of panic selling. 'When the seas are rough, we're out sailing,' says head of holding company who sees once-in-a-lifetime opportunity in market crisis   Most Asian markets rebound after North American rout. Investors scoop up battered financial and technology shares after days of sharp declines   Market's Fall Deepens. The Dow industrials fell 444.99 points, or 5.6%, to 7552.29, while the S&P 500 slid 6.7%, breaching its low from the last bear market. Investors fled to the safest securities, driving up Treasury prices to record levels. Financial stocks continued their freefa   Citi Weighs Options, Including Firm's Sale. Citigroup began weighing the possibility of auctioning off pieces of the company or even selling itself outright. Shares fell a further 26%.   Big Three Head Home Empty-Handed. Congressional efforts to rescue Detroit's auto makers collapsed, with lawmakers saying the industry lacked credible plans to return to profitability.   Mayor's Wife Gets the Heave-Ho. Kansas City Mayor Mark Funkhouser filed suit against the City's Council after a decision to banish his wife from City Hall.   Hospital's Risky Drive to Boost Transplants. The University of Pittsburgh Medical Center's quest to ramp up its liver-transplant business shows how nonprofits' drive for higher revenues risks compromising patient care.   Pirates send shipping firms on costly detour. Armed bandits forcing their prey to take extraordinary measures to escape brazen attacks   Ed Clark finally catches a bullet. Big Five shares drop 12 per cent   Citigroup weighing sale. Wall Street Journal reports second-largest U.S. bank by assets considering sale of all or part of company   Larry Smith in conversation. President of the Alouettes talks management with Karl Moore   Oil tumbles below $50 a barrel. Crude trades at lowest level since May, 2005; Goldman Sachs gives up on trading recommendations   TSX plunges 750 points. Benchmark closes below 8,000 mark for first time since late 2003; Dow tumbles more than 400 points   Crisis prompts many to delay retirement: Poll. More women than men consider postponing, average six-year delay projected   Dell's shares rise on better-than-expected profits. Company said it believes global IT demand will continue to be 'challenging'