Business News Headlines - CBC.ca

Montreal-based Gildan Activewear Inc.'s profits soared in the first quarter, the company reported Tuesday.

Vancouver-based Intrawest ULC said Tuesday it has reached a deal to sell its interests in Florida's Sandestin Golf and Beach Resort.

A fire broke out at a Suncor oilsands upgrader north of Fort McMurray, Alta., around midnight Monday night.

Montreal-based AbitibiBowater's subsidiary in the United Kingdom announced Tuesday it is laying off 163 more workers in Liverpool.

Transport Canada has been in talks to buy the Ambassador Bridge, which connects Windsor, Ont., with Detroit.

Alberta's Progressive Conservative government is projecting a $4.75-billion deficit, while putting $1.3 billion in spending cuts toward health care, according to the 2010-11 provincial budget released Tuesday.

Canadians spent $4.66 billion on computer and information technology products in 2009, up one per cent from 2008.

The Toronto stock market has made gains on investors' hopes that European leaders will move to address worries about severe debt problems of Greece, Spain and Portugal.

Calgary-based Agrium Inc. reported a substantial drop in fourth-quarter profit and revenue Tuesday.

Chinese consumers bought 1.32 million cars in January, solidifying the country's status as the world's largest auto market.

Alberta's finance minister says he won't be wearing a new pair of shoes in traditional fashion when the Alberta government releases its budget Tuesday afternoon. Spending cuts are expected.

The Competition Bureau says the Canadian Real Estate Association limits consumer choice and forces people to pay for services they may not want in selling a house.

The organization that markets potash for three Saskatchewan producers has announced a big sale to China.

At least one Calgary auto dealer has hired extra staff to deal with the crush of business resulting from Toyota's recall of faulty gas pedals.

Baffinland Iron Mines Corp. may be able to secure the cash to develop an iron mine in Nunavut this year, the company's president and CEO says.

The Canadian Real Estate Association is predicting existing home sales will rise 13.3 per cent this year compared to 2009, it said in a news release Monday.

The seasonally adjusted annual rate of housing starts reached 186,300 units in January, up 5.8 per cent from 176,100 in December.

The CAW is calling on the federal and Ontario governments to push Xstrata PLC to justify its decision to shutter parts of its Kidd Mine in Timmins, Ont.

The proportion of Canadians who believe they are not saving enough for retirement has jumped in the last three years, according to a Royal Bank survey.

A Yellowknife social justice group wants proponents of the proposed Mackenzie Valley pipeline to produce updated information on whether the project makes economic sense.

The Ontario government is reassuring former Nortel employees who worked in the province that the first $1,000 of their monthly pension payments will be guaranteed under an emergency pension insurance fund.

Toyota Motor Corp. said Sunday that it will soon announce plans to deal with braking problems in its prized Prius hybrid amid reports it has decided to issue a recall for the vehicle in Japan.

Insurance rates for drivers of Toyota vehicles shouldn't be going up because of the recent recall, a spokesman for the Insurance Bureau of Canada says.

Toyota Canada announced Friday that it has resumed deliveries to dealers of the eight models the automaker recalled on Jan. 21.

The victims of Montreal financial adviser Earl Jones announced Friday they are seeking a judge's permission to launch a class-action lawsuit against the Royal Bank of Canada.

Canadian companies will be exempt from a protectionist "Buy American" clause in the U.S. government's $787-billion US economic stimulus package, the federal government has announced.

Some finance ministers and central bank governors from seven of the world's richest countries rode on dogsleds near Iqaluit on Friday, before sitting down to discuss problems facing the global economy.

Climate warming in the Arctic will cost the global economy billions of dollars in 2010 alone, according to a Pew Environment Group study released Friday.