WASHINGTON (AP) - The U.S. economy shrank at a 0.7 percent annual rate in the first three months of the year, depressed by a severe winter and a widening trade deficit.
TORONTO (Reuters) - Bank of Nova Scotia BNS.TO reported a quarterly profit that beat market expectations on Friday and outlined a plan to buy back shares as earnings grew at its Canadian banking division.
Even as housing prices rise, Canadians are showing strong ability to manage their debts with arrears on CMHC mortgages at a low 0.34 per cent for the first quarter of this year, according to new figures from the federal housing agency.
Canada's main stock index dipped on Friday, with heavyweight banks tipping the scales to the downside amid broad pessimism about domestic economic growth and the uncertain outlook for industries tied to energy.
(New throughout, adds details and comments from person familiar with matter, updates share price). By Greg Roumeliotis. May 29 (Reuters) - Intel Corp has resumed negotiations to buy smaller chip maker Altera Corp and is close to a $15 billion acquisition ...