INO.com News - HL:The Canadian Press Business News Budget for Friday, Nov. 14, 2008@ (apnews)

HL:The Canadian Press Business News Budget for Friday, Nov. 14, 2008@

BUSINESS EDITORS:@ Here are Canadian Press Business budget lines as of 9 p.m. ET. Plans may change as circumstances warrant.

To contact Canadian Press Business by email, send messages to business(at)thecanadianpress.com.

In addition to the following, stories slugged BC-Consumer-Credit and BC-Crown-Asset-Sale have moved General (G) and Business (B). Please guard against duplication

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TORONTO @_ Canadian publisher and broadcaster Canwest Global Communications Corp. (TSX:CGS) has taken a $1.01-billion writedown on its Canadian television operations, citing dire expectations for advertising revenues to come. 850 words. By Colin Perkel. BC-Canwest, 7th Writethru. Moved General (G) and Business (B).

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MONTREAL @_ The U.S. Justice Department has ordered Belgian brewer InBev to sell its American Labatt operations before it can proceed with the US$52-billion acquisition of fellow brewer Anheuser-Busch. An analyst said it won't affect Labatt Canada, which is a related but a separate subsidiary of InBev. 600 words. By Ross Marowits. BC-InBev-Labatt, 2nd Writethru. Moved.

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MONTREAL @_ Groupe Aeroplan Inc. (TSX:AER) said it may miss its 2008 revenue targets as consumers reign in spending over the Christmas holiday, but the profile of its loyalty program members should help to cushion the blow. 600 words. By Ross Marowits. BC-Aeroplan, 1st Writethru. Moved.

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TORONTO @_ The number of homes sold through the Canadian multiple listing service plunged 14 per cent last month to the weakest level since July 2002. It was the steepest month-to-month decline since June 1994, the Canadian Real Estate Association said Friday. 650 words. By Kristine Owram. BC-Real-Estate, 2nd Writethru. Moved.

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WASHINGTON @_ U.S. retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending. 600 words. By Martin Crutsinger. BC-US-Economy, 1st Writethru. Moved.

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WASHINGTON @_ U.S. mortgage finance giant Freddie Mac is asking for an initial injection of US$13.8 billion in government aid after posting a massive quarterly loss. 500 words. By Alan Zibel. BC-Freddie-Mac, 3rd Writethru. Moved

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WASHINGTON @_ A U.S. presidential panel announced steps Friday to strengthen oversight of complex financial instruments partly blamed for the global financial crisis. By Jeannine Aversa. BC-Credit-Crisis, Bgt. Moved.

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COLUMBUS, Ohio @_ Crude markets ignored word of another emergency meeting later this month by OPEC to address falling crude prices, focusing instead Friday on the largest ever October plunge for retail sales and a sharp drop in business inventories. By Mark Williams. BC-Oil-Prices, 2nd Writethru Bgt. Moved.

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SAN FRANCISCO @_ The economic downturn might be pushing Sun Microsystems Inc., one of the storied names in computing, to the brink of extinction.The company's servers and software helped stimulate the Internet boom, and its engineering acumen is revered. But Sun never fully recovered from the previous financial crisis _ the dot-com meltdown _ and it has been steamrolled by big shifts in the way businesses buy their back-end computers. 1,000 words. By Jordan Robertson. BC-Sun-Microsystems-Layoffs, 3rd Writethru Bgt. Moved.

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BOSTON @_ Fidelity Investments will eliminate 1,700 jobs early next year in a second round of cuts at the nation's largest mutual fund company. Boston-based Fidelity said last week that it would eliminate nearly 1,300 jobs this month in the first round, with plans to make further unspecified cuts early next year. By Mark Jewell. BC-Fidelity-Job-Cuts, 1st Writethru. Moved

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The Canadian Press is also following:

TORONTO @_ Stock markets plunged further into the red on Friday after investors launched an afternoon rally that quickly dissolved in the dismal outlook for the global economy. By David Friend. BC-Dollar-Markets, 7th Writethru. Moved.

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HALIFAX @_ Clearwater Seafoods Income Fund (TSX:CLR.UN) was wallopped with a $10.3-million net loss in its third quarter, as its sales revenues declined and the fund booked losses on its foreign currency contracts. BC-Clearwater, 1st Writethru. Moved

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MONTREAL @_ Stella-Jones Inc. (TSX:SJ) has reported a 49.5 per cent rise in third-quarter sales of its utility poles and railway ties, driven by an acquisition and organic growth. BC-Stella-Jones.

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MONTREAL @_ Mecachrome International Inc. (TSX:MCH) said Friday it was reviewing its ability to stay in business and would not make a scheduled interest payment on its debt. BC-Mecachrome. Moved.

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MONTREAL @_ Hydro-Quebec's profits more than doubled to $491 million in the third quarter as exports rose $396 million. The provincial utility said Friday its revenue for the quarter increased 10.2 per cent to $2.8 billion. BC-Hydro-Quebec. Moved.

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MONTREAL @_ Madacy Entertainment Income Fund (TSX: MEG.UN) says Clarke Inc. (TSX:CKI) is proposing buy and privatize Madacy Entertainment LP for between 25 cents and 40 cents per unit. The fund, Clarke and senior Madacy management own 65 per cent of the limited partnership. BC-Madaacy-Entertainment.

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MONTREAL @_ Akela Pharma Inc. (TSX:AKL), a cancer pain drug developer, says it narrowed its net loss in the third quarter to US$3.8 million from $8.6 million. BC-Akela-Pharma. Moved.

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OTTAWA @_ Statistics Canada reports manufacturing sales edged up 0.1 per cent to $52.2 billion in September after a sizeable decrease in August. Measured in constant dollars, which takes price fluctuations into account and provides a more accurate measure of sales volume, manufacturing sales rose 0.7 per cent compared with August as a result of decreasing industrial product prices. BC-StatsCan-Manufacturing, 1st Writethru. Moved.

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OTTAWA @_ Dealerships sold 141,574 new motor vehicles in September, 2.5 per cent more than in August and the first increase after three months of declines. BC-StatsCan-Auto. Moved.

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TORONTO @_ AirIQ Inc. (TSX:IQ) said Friday it lost $1.1 million in its most recent quarter compared with a loss of $3.4 million a year ago. BC-AirIQ. Moved

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TORONTO @_ Consolidated Thompson Iron Mines Ltd. (TSX:CLM) said Friday that development of its Bloom Lake project in northern Quebec is on budget and on schedule to start production in September 2009. The company, with no revenue, also reported it had a net loss of $1.3 million in the third quarter. BC-Consolidated-Thompson. Moved

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TORONTO @_ St. Joseph Media, part of one of Canada's largest printing companies, says it will be suspending publication of Wish and Gardening Life magazines by the end of the year. BC-Magazines-Suspended, 2nd Writethru. Moved Datafile only.

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TORONTO @_ ATS Andlauer Income Fund (TSX:ATS.UN) says its board of trustees has reluctantly dropped its opposition to a takeover bid by the freight carrier's management. BC-ATS-Andlauer-Takeover. Moved.

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BRAMPTON, Ont. @_ Norwall Group Inc., (TSX:NGI), one of North America's largest manufacturers and distributors of residential wallpaper, narrowed its loss in the third quarter to nearly US$1.9 million from $2.6 million for the same 2007 periodl BC-Norwall-Group. Moved.

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WINNIPEG @_ The FP Newspapers Income Fund (TSX:FP.UN) has reported a 10 per cent slippage in third-quarter net income to $2 million as revenue edged up 1.5 per cent to $31 million while operating costs grew 3.5 per cent. BC-FP-Newspapers, 1st Writethru. Moved.

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CALGARY @_ The merger of Gran Tierra Energy Inc. (TSX: GTE) and Solana Resources Ltd. (TSXV:SOR) creates an oil and gas company with more than US$140 million cash and no long-term debt. Solana's shares will be delisted. BC-Gran-Tierra-Energy.

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CALGARY @_ Canadian Hydro Developers, Inc. (TSX:KHD), which has a variety of wind and water-powered electricity generation facilities in several provinces, says its revenue rose to $17.4 million in the third quarter. BC-Canadian-Hydro. Moved.

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CALGARY @_ Pure Energy Services Ltd. (TSX:PSV) reported an increase in third-quarter profit compared with a year ago, boosted by growth in its U.S. operations. BC-Pure-Energy-Services. Moved.

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CALGARY @_ Connacher Oil and Gas Ltd. (TSX:CLL) more than doubled its revenues in the third quarter to $225 million but net earnings fell to 12.1 million from $14.6 million in year before. BC-Connacher. Moved.

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CALGARY @_ Galleon Energy Inc. (TSX:GO.B) reported its third quarter profits soared to $38.1 million or 52 cents a share, from $1.6 million or three cents last year. BC-Galleon-Energy. Moved.

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CALGARY @_ Storm Exploration Inc. (TSX:SEO), a junior oil and natural gas producer based in Calgary, reports its third quarter net profits soared to $12.8 million from $299,000 as revenues more than doubled. BC-Storm-Exploration. Moved.

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CALGARY @_ Essential Energy Services Trust (TSX:ESN.UN) has reported third-quarter net income of $8.4 million, up from $1.8 million a year earlier, as revenue swelled to $43.9 million from $13 million. BC-Essential-Energy-Services.

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CALGARY @_ Antrim Energy Inc. (TSX:AEN) has reported a third-quarter loss of US$1.5 million as it continues development in the North Sea and expands in Argentina. BC-Antrim-Energy. Moved Datafile only.

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CALGARY @_ Dynetek Industries Ltd. (TSX:DNK), a Calgary-based manufacturer of fuel storage tanks and systems for compressed natural gas and hydrogen, says it narrowed its net loss in the third quarter bit revemies fell. BC-Dynetek. Moved.

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CALGARY@ _ Guest-Tek Interactive Entertainment Ltd. (TSX:GTK) narrowed its latest quarterly loss compared with a year ago as video-on-demand revenue increased. The provider of broadband television and video-on-demand systems for hotels said Friday it lost $1.1 million or seven cents per share for the three months ended Sept. 30 compared with a loss of $1.6 million or 10 cents per share a year ago. 100 words. BC-Guest-Tek.

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EDMONTON @_ Isotechnika Inc. (TSX:ISA) revenue increased to $2.9 million in the third quarter, up from $550,000 a year earlier, due to its first product sale, the company announced Friday. BC-Isotechnika. Moved Datafile only

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VANCOUVER @_ Despite job cuts and other-cost cutting, third-quarter losses at Ainsworth Lumber Co. Ltd. (TSX:ANS) deepened by 16 per cent as revenue fell about 20 per cent amid the collapse of the U.S. housing market. BC-Ainsworth-Lumber. Moved.

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VANCOUVER @_ Transeuro Energy Corp. (TSXV:TSU) shares fell nearly 47 per cent Friday after the company suspended interest payments on a US$15-million bond issue and C$4 million worth of debentures. BC-Transeuro-Energy, 2nd Writethru. Moved.

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VANCOUVER @_ Uranium One Inc. (TSX:UUU) has taken a US$2-billion writedown and is cutting costs across all operations amid a "deteriorating economic climate." BC-Uranium-One

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VANCOUVER @_ Shares of Intrinsyc Software International Inc. (TSX:ICS) were nearly cut in half Friday after the company lowered its revenue expectations for its financial year and reported a third-quarter loss. BC-Intrinsyc-Software, 1st Writethru. Moved.

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VANCOUVER @_ Ivanhoe Mines Ltd. (TSX:IVN) said Friday that it was prepared to cut spending at its Oyu Tolgoi project if sufficient progress was not made toward the conclusion of an investment agreement with the Mongolian government BC-Ivanhoe-Mines.

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VANCOUVER @_ Ondine Biopharma Corp. (TSX:OBP) says it needs to raise additional capital in the near term to continue with its planned activities. Given the current challenging conditions in capital markets, the company will reduce its expenses and defer capital outlays and will pursuing strategic partnerships or the sale of certain of assets. As of Sept. 30, Ondine had $2.59 million in cash, cash equivalents and short-term investments. During the first nine months of 2008, the company used $7.4 million cash for its operating activities. BC-Ondine.

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VANCOUVER@ _ Rainmaker Entertainment Inc. (TSX:RNK) said Friday it lost $903,000 in its most recent quarter compared with a loss of $314,000 in the same period last year. The loss amounted to five cents per share for the three months ended Sept. 30 compared with a loss of two cents per share a year ago. 124 words. BC-Rainmaker-Entertainment.

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VANCOUVER@ _ Cardiome Pharma Corp. (TSX:COM) narrowed its third-quarter loss compared with a year ago as the company completed a set of trials on one of its drugs used to treat an irregular heart rhythm. The company said Friday it lost $11.7 million or 18 cents per share for the three months ended Sept. 30 compared with a loss of $31.6 million or 50 cents per share a year ago. 139 words. BC-Cardiome.

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RICHMOND, B.C. @_ MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) said Friday it has won a competition to design and build the Radarsat Constellation Mission and signed a $40-million for the first phase. BC-MDA-Radarsat-Constellation. Moved.

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DUNCAN, B.C.@ _ Western Forest Products Inc. (TSX:WEF) narrowed its third-quarter loss compared with a year ago, as the lumber company improved margins. The Vancouver Island company said Friday it lost $25 million or 12 cents per share for the three months ended Sept. 30 compared with a loss of $37.7 million or 18 cents per share a year ago. Sales in the quarter totalled $196.4 million, up from $176.5 million. 222 words. BC-Western-Forest-Products.

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