Business and Finance news

Until this past summer, I used to love shopping at outlet malls. A few times a year, my friends and I would head across the border from Vancouver into Washington state to go shopping at the Tulalip Premium Outlet shopping centre. And whenever we were on vacation, one of the first things we looked up […]

A former board member of Olympus Corp. said Friday that he launched an online petition to persuade the Japanese company to bring back Michael Woodford, the British executive fired for questioning payments made to cover up huge investment losses.
Koji Miyata, who served on Olympus’ board from 1995 to 2006, told The Associated Press that he […]

TORONTO — Paying with plastic takes on a new meaning today as the Bank of Canada rolls out new $100 bills to replace the cotton-paper blend note.
The $100 is Canada’s first polymer bank note and features a wealth of anti-counterfeiting features such as partially-hidden numbers.
The bill also includes a large, transparent window, transparent text, a […]

The prospect of new governments in Greece and Italy helped support market sentiment Friday, at the end of a hugely-volatile week when investors fretted over the future of the euro currency and the outlook for the global economy.
With Greece having appointed Lucas Papademos as the prime minister of a coalition government, and Italy expected to […]

Contradicted by key former executives and challenged by his company’s ex-lawyers, James Murdoch is expected back for a second grilling in Britain’s Parliament Thursday over the phone hacking scandal that has shaken his father’s media empire.
Although the senior News Corp. executive has long insisted he knew nothing of the culture of criminality whose exposure has […]

A spokesman says business is back to normal at the Warsaw’s Frederic Chopin airport, which shut down for some 30 hours after a plane was forced to land on its belly because its landing gear failed.
Przemyslaw Przybylski said Thursday that both runways were in use and that there was no damage to the runway used […]

The Commerce Trust Co. has tapped David Krauss of The Stolar Partnership to oversee the bank’s wealth management services for ultra high-net worth individuals and families.
Krauss currently is a partner at The Stolar Partnership in downtown St. Louis and heads the law firm’s Stolar Family Office business unit, which provides investment oversight for high-net worth individuals.
Krauss will join Commerce in December as managing director of The […]

Higher fares helped Delta Air Lines post a bigger third-quarter profit even though fuel prices jumped and passenger traffic was flat.
But the company’s results missed Wall Street expectations and helped push down its stock price 2.3 percent in pre-market trading.
In the past, airlines struggled to make money in a weak economy or when fuel prices […]

Amgen Inc. is laying off about 380 employees in research and development as it restructures its R&D operations.
The biotech company, based in Thousand Oaks, Calif., says the layoffs are targeted to enable the company to better allocate its research and development resources.
Company spokeswoman Christine Regan says the affected employees were notified Wednesday. They work at […]

Thousands of striking workers blockaded roads leading to Freeport-McMoRan Cooper & Gold Inc.’s mine in easternmost Indonesia on Tuesday, preventing food, medicine and other supplies from reaching holed-up staffers and their families.
Production at the mine, which holds some of the largest gold and copper reserves in the world, was halted for a second day over […]