Business and Finance news

MONTREAL

Beleaguered music and movie retailer HMV Canada says sales are up since it changed its pricing structure.
It’s looking at launching the country’s first subscription-based digital music service next year.
And it’s considering a move into movie rentals as a way to boost future revenues.
There’s a hole in market since video rental retailer Blockbuster Canada filed for […]

Asian markets were mixed in early trading Monday, as investors evaluated a pledge by Germany and France to ensure European banks have the capital to weather any shock that may occur from the region’s debt crisis.
On Sunday, German Chancellor Angela Merkel and French President Nicolas Sarkozy said that a comprehensive response to the debt crisis […]

Revolutionary fighters are shelling Moammar Gadhafi’s hometown of Sirte ahead of a renewed push on the city, one of the last bastions of support for the fugitive leader.
Anti-Gadhafi forces have pushed to within less than half a mile (kilometer) from loyalist fighters dug in around the Ouagadougou conference center and Green Square in the heart […]

As Hurricane Ophelia moves north, forecasters have lifted a tropical storm watch for Bermuda but added one for the entire Avalon Peninsula of Newfoundland.
The National Hurricane Center in Miami says the tropical storm watch for Bermuda was lifted early Saturday evening.
At 5 p.m. Saturday, Ophelia had maximum sustained winds near 120 mph (193 kph) and […]

German Chancellor Angela Merkel hinted that the second Greek bailout package might have to be renegotiated amid increasing market speculation Wednesday that European leaders want to force private holders of Greek bonds to take bigger losses.
Merkel didn’t rule out altering the terms to the euro109 billion ($148 billion) package, saying the decision must be based […]

ST. LOUIS

JEFFERSON CITY

You’re poorer than you think.
As the recent turmoil on the Toronto stock market wiped out $163 billion in Canadians’ savings, some are rethinking everything from their planned retirement date to next winter’s beach holiday and even their choice of restaurant.
It’s a phenomenon called the “Wealth Effect,” an economic term that refers to the link between […]

President Hugo Chavez said Friday that Venezuela’s oil production quota within OPEC should increase now that its proven crude reserves have grown.
Chavez said in a televised speech that oil production quotas will need to be revised.
“The more reserves you have, the higher the quota you have,” Chavez said.
Earlier this month, OPEC recognized Venezuela as the […]