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  • FIFA President Blatter reacts after he was re-elected at the 65th FIFA Congress in Zurich
    FIFA's Blatter faces division and suspicion as fifth term begins

    By Brian Homewood ZURICH (Reuters) - FIFA President Sepp Blatter began his fifth term at the helm of soccer's governing body on Saturday facing the daunting task of restoring public faith in an organization …

    FIFA President Blatter reacts after he was re-elected at the 65th FIFA Congress in Zurich

    By Brian Homewood ZURICH (Reuters) - FIFA President Sepp Blatter began his fifth term at the helm of soccer's governing body on Saturday facing the daunting task of restoring public faith in an organization tainted by allegations of corruption and deeply divided over his re-election. The 79-year-old Swiss comfortably …

  • The show goes on in Canada despite FIFA crisis

    By Steve Keating HAMILTON, Ontario (Reuters) - Despite the storm raging in world soccer, the show must go on and Canada and England met in a women's friendly in front of a passionate sellout crowd on …

    By Steve Keating HAMILTON, Ontario (Reuters) - Despite the storm raging in world soccer, the show must go on and Canada and England met in a women's friendly in front of a passionate sellout crowd on Friday that offered hope the game can survive its latest crisis. Deflated and weary from a week of shocking scandals triggered …

  • Canadian miner TMAC Resources plans IPO on TSX

    By Euan Rocha TORONTO (Reuters) - TMAC Resources, which is currently developing the Hope Bay gold project in Canada's far north, has begun paperwork on an initial public offering and plans to list on …

    By Euan Rocha TORONTO (Reuters) - TMAC Resources, which is currently developing the Hope Bay gold project in Canada's far north, has begun paperwork on an initial public offering and plans to list on the Toronto Stock Exchange soon, a person familiar with the matter said on Friday. The offering would be the first pure …

  • Blatter wins fifth FIFA term as challenger concedes

    By Mike Collett and Brian Homewood ZURICH (Reuters) - Sepp Blatter was re-elected president of FIFA for a fifth term on Friday after his only challenger conceded defeat in an election overshadowed by …

    FIFA President Blatter gestures after he was re-elected at the 65th FIFA Congress in Zurich

    By Mike Collett and Brian Homewood ZURICH (Reuters) - Sepp Blatter was re-elected president of FIFA for a fifth term on Friday after his only challenger conceded defeat in an election overshadowed by allegations of rampant corruption in world soccer. Blatter won despite demands that he quit in the face of a major bribery …

  • House poor, fixing CPP & gaming Aeroplan: BUSINESS WEEK WRAP

    House prices keep rising, incomes are basically staying the same, yet home ownership rates continue to tick higher. Considering those three facts, it should not come as a surprise that more and more Canadian's …

    House prices keep rising, incomes are basically staying the same, yet home ownership rates continue to tick higher. Considering those three facts, it should not come as a surprise that more and more Canadian's now describe themselves as "house poor."

  • Pessimism reigns as economic gloom weighs on TSX

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell on Friday, with heavyweight banks tipping the scales to the downside amid broad pessimism about domestic economic growth and the uncertain …

    A man walks past an old Toronto Stock Exchange sign in Toronto

    By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell 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. The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended down …

  • Markets in Toronto and New York pull back sharply on disappointing GDP data

    The Toronto stock market shifted lower near midday as fresh data showed a retrenchment in Canada's economic growth.

    A man walks past an old Toronto Stock Exchange sign in Toronto

    The Toronto stock market shifted lower near midday as fresh data showed a retrenchment in Canada's economic growth.

  • Silk Road's Ross Ulbricht gets life in prison on drugs offences

    A San Francisco man who created the online drug-selling site Silk Road has been sentenced to life in prison.

    A San Francisco man who created the online drug-selling site Silk Road has been sentenced to life in prison.

  • Online car retailer Beepi plots expansion

    Beepi is raising another $300 million in venture capital to fund its expansion nationwide.

    Buy a used car without a test drive? Beepi says yes

    Beepi is raising another $300 million in venture capital to fund its expansion nationwide.

  • Oil leaps 5 percent as dollar rally stalls, U.S. rigs fall

    By Barani Krishnan NEW YORK (Reuters) - Crude oil prices jumped almost 5 percent on Friday, their biggest rally in 1-1/2 months, as a steady U.S. dollar and a bigger than expected drop in U.S. oil rigs …

    An attendant tops up petrol for a vehicle at a gas station in Taipei

    By Barani Krishnan NEW YORK (Reuters) - Crude oil prices jumped almost 5 percent on Friday, their biggest rally in 1-1/2 months, as a steady U.S. dollar and a bigger than expected drop in U.S. oil rigs in operation set off a renewed rush of bullish bets. U.S. crude has risen by as much as $4 a barrel after hitting a one-month …

  • Entrepreneurship in Canada ranks 2nd in world, report says

    Canada is second only to the U.S. in levels of entrepreneurial activity, beating most G7 countries and much of the developed world. Canada's level of entrepreneurship is on a par with Australia, with …

    Entrepreneurship in Canada ranks 2nd in world, report says

    Canada is second only to the U.S. in levels of entrepreneurial activity, beating most G7 countries and much of the developed world. Canada's level of entrepreneurship is on a par with Australia, with about 13 per cent of the working-age population involved in early-stage entrepreneurial activity, according to Peter Josty, …

  • Millennial 'NOwners' follow Uber with new fashion trading model

    By Jilian Mincer NEW YORK (Reuters) - Allison Armour loves fashion, but doesn't need to keep it in her closet. The 24-year-old frequents privately-held chain Crossroads Trading Co, where she buys brand-name …

    Alexis Rutledge shops for clothes at Crossroads Trading Company, which buys and sells used clothing, in San Francisco

    By Jilian Mincer NEW YORK (Reuters) - Allison Armour loves fashion, but doesn't need to keep it in her closet. The 24-year-old frequents privately-held chain Crossroads Trading Co, where she buys brand-name goods secondhand at a discount, then sells the items back when she wants to refresh her look. Armour, a marketing …

  • U.S. warns G7 of global economy 'accident' without Greece deal

    By David Ljunggren and Paul Carrel DRESDEN, Germany (Reuters) - The United States warned on Friday of a possible accident for the world economy if Greece and its creditors miss their June deadlines to …

    A lightning strikes next to a Greek national flag in Athens

    By David Ljunggren and Paul Carrel DRESDEN, Germany (Reuters) - The United States warned on Friday of a possible accident for the world economy if Greece and its creditors miss their June deadlines to avert a debt default. Germany said there was no sign of a breakthrough. With Athens struggling to make repayments due …

  • CRTC blasts cable companies for cutting into Letterman finale

    Canada's broadcast regulator is making good on a promise to crack down on Canadian cable companies improperly cutting into U.S.-based programs after hearing from Canadians upset about not being able to …

    Canada's broadcast regulator is making good on a promise to crack down on Canadian cable companies improperly cutting into U.S.-based programs after hearing from Canadians upset about not being able to see the final minutes of the finale of David Letterman's show. The CRTC sent open letters to executives of Rogers and …

  • Finance Department says Ottawa posted $3 billion deficit for March

    The federal government ran a deficit of $3 billion in March compared with a deficit of nearly $6.7 billion in the same month last year.

    Canada's Finance Minister Oliver speaks in the House of Commons in Ottawa

    The federal government ran a deficit of $3 billion in March compared with a deficit of nearly $6.7 billion in the same month last year.

  • Amazon.com to develop groceries under own private label Elements: report

    You may soon be able to buy an Amazon.com private-label brand of soup, cereal and baby products as the e-commerce giant moves into the grocery sector. According to a report in the Wall Street Journal, …

    You may soon be able to buy an Amazon.com private-label brand of soup, cereal and baby products as the e-commerce giant moves into the grocery sector. According to a report in the Wall Street Journal, Amazon is expanding its own Elements brand to an array of products that might otherwise come from a competitor such as …

  • Canada economic growth contracts in first quarter

    Canada's economy contracted in the first quarter, with annualized negative GDP growth of 0.6 percent following fourth-quarter growth of 2.2 per cent, Statistics Canada said on Friday. That was lower …

    Production Associates inspect cars moving along assembly line at Honda manufacturing plant in Alliston, Ontario.

    Canada's economy contracted in the first quarter, with annualized negative GDP growth of 0.6 percent following fourth-quarter growth of 2.2 per cent, Statistics Canada said on Friday. That was lower than analysts' forecasts for annualized growth of 0.3 percent. It was the first negative growth in real GDP since …

  • CMHC mortgage holders spend 26% of income on housing

    Canadians are showing a strong ability to manage their debts even as housing prices rise, with arrears on CMHC mortgages at a low 0.34 per cent for the first quarter of this year, according to new figures …

    CMHC mortgage holders spend 26% of income on housing

    Canadians are showing a strong ability to manage their debts even as housing prices rise, 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. The gross debt service ratio for Canadian homeowners – the percentage of housing costs …

  • Canadians Michael Taxon & Itamar Cohen admit to $17M stock fraud

    Two Toronto-area men have admitted to fraudulently manipulating the prices of two U.S. penny stocks in order to unlawfully make $17 million in trading profits for themselves and others. According to the …

    Two Toronto-area men have admitted to fraudulently manipulating the prices of two U.S. penny stocks in order to unlawfully make $17 million in trading profits for themselves and others. According to the U.S. Attorney's Office, the two men and other unnamed co-conspirators bought up large chunks of two stocks — Raven Gold …