Market Opener: Revamped U.S. bailout faces new vote

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Wednesday, October 1, 2008

TOP STORIES

Revamped U.S. bailout faces new vote

European policymakers urge approval of package, plan to tighten rules

September, 2008: 30 days that rocked the world

Investors lost billions, large banks and brokerages failed, Wall Street's troubles went global; September will be recalled as the month a credit crisis became a bloodbath

Xstrata ditches Lonmin bid

Credit markets are just too tight, as the miner says it can't obtain the financing required for the $10-billion deal

Two streets, one shared destiny

Wall Street and Main Street: from rags to riches

When markets get a migraine ...

Take these 6 stocks for soothing relief

Buying in moments of panic ...

Can give your portfolio a head of steam


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Canadian Business

Allen-Vanguard gets one-month reprieve

Maker of extreme-hazard gear now has to end of October to make $10-million payment

Credit ills hurt wireless entrants

Funds may be scarce to build networks

Housing sales slow as market sags in Canada

In Calgary, homes are now taking longer to sell than they have at any time during the past eight years

Bank of Canada injects cash to thaw frozen credit

Central bank pumps additional $4-billion into short-term money markets

Volvo to cut 500 jobs in Ontario

Company will reduce another 1,400 positions at European truck plants

CPR gets U.S. nod for purchase of DM&E

Move could bring third railway to lucrative western coal fields

Canadian economy booms in July

Higher energy output propels gross domestic product 0.7 per cent higher

Energy & Resources

Oil sands safe from U.S. law, advocates say

Environmentalists claim victory as Canadian officials fail to weaken legislation that limits Washington's fuel choices

Fording shareholders approve Teck deal

$14-billion takeover will create one of the world's largest exporters of metallurgical coal

EnCana's oil spinoff to be called Cenovus

The natural gas company will continue as EnCana Corp.

Oil swings back above $100

Consensus grows among investors that U.S. Congress will pass financial bailout law

International Business

No buyer for Lehman's Europe debt unit

Administrator PricewaterhouseCoopers says 750 jobs will be lost

U.S. consumer confidence unexpectedly improves

But September reading still hovers near 16-year low

Bailout plan failure raises spectre of U.S. recession

Tighter credit markets will soon affect Main Street USA, analyst suggests

U.S. home prices continue to fall

Prices tumble 16 per cent, the fastest annual pace on record, but rate of decline slowing

Investing

Market mayhem cracks retirees' nest eggs

As savings shrink with the downturn, some are crimping and some, on the cusp of retirement, are staying at work. They're all worried

A contrarian gets the last laugh

Vito Maida is comfortably in the black

World stocks make positive start to fourth quarter

Stocks, emerging assets climb higher on hopes that U.S. bailout package will be revived

Technology

Technology stocks feel the pain

Doubts mount about their ability to be immune from broad global slowdown

Intel says will invest through recession

Chipmaker's R&D, capital spending cash cushion totals about $10-billion

Tech stocks lose safe harbour status

Shares of the sector's steadiest performers dragged down by fears that businesses and consumers will soon spend less

Managing

Five secrets for success help women climb ladder

Plus: Knowing when to multitask

Weekend workout: The uproar over music in the office

Some like its calming influence, while others think MP3 players can be isolating

Pay tied to performance dwindles

Fewer Canadian employers offering incentives for strong performance, Statscan says, though benefits get more common

Yesterdays Markets

Index Change Value
Wed Oct 01 08:49:22 EDT 2008
S&P/TSX +467.83 11752.90
DJIA +485.21 10850.66
S&P 500 +58.32 1164.74
Nasdaq +98.60 2082.33
Venture +32.97 1415.00

Commodities and Bonds

Index Change Value
Wed Oct 01 08:49:22 EDT 2008
Gold (NY) -4.60 876.20
Oil (NY) -.91 99.73
CRB Index n/a 345.50
30 yr Can. n/a 4.24
30 yr U.S. n/a 4.31

Currencies

More Foreign Exchange Rates and News
CDN$ buys
US$ +.0033 .9430
Yen +.3300 100.2300
Euro +.0050 .6726
US$ buys
CDN$ -.0037 1.0605
Yen -.0200 106.2900
Euro +.0029 .7133

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