XL Foods' Brooks, Alberta, plant has been closed since Sept. 27 after producing beef contaminated with E. coli bacteria that sickened at least 16 people in Canada. Products including ground beef and steaks were pulled off store shelves across Canada and in most U.S. states. The U.S. Department of Agriculture halted imports last month of products traced to the plant.
*DuPont's earnings forecast, job cuts weigh on oil. Chemical company DuPont cuts its earnings forecast and announced 1,500 job cuts in its third-quarter earnings report that missed Wall Street expectations, helping push equities, oil and other commodities lower.
LOS ANGELES-- Netflix slashed its prediction for how many U.S. video-streaming subscribers it would add this year after subpar third-quarter results, causing a sharp sell-off in its stock in after-hours trading.
*Deal positions RBC as a leading auto lender in Canada. TORONTO, Oct 23- Royal Bank of Canada has agreed to buy the Canadian auto finance and deposit arm of Ally Financial Inc in a $4.1 billion deal to expand its vehicle-lending business at a time when loan growth overall is slowing in the country.
A four-year boom in U.S. oil production is accelerating so fast it could help soon make the U.S. the world's top producer of oil and liquid hydrocarbons. The U.S. passed Russia this year, and is now second behind Saudi Arabia. Source: U.S. Energy Information Administration.
NEW YORK-- U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer. The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year.
NEW YORK-- Target Corp. on Tuesday said it reached a deal to sell its entire consumer credit card business to TD Bank Group, ending an almost two-year search for a buyer. The two companies also entered into a seven-year pact under which TD Bank will underwrite, fund and own future Target credit card and Target Visa receivables in the U.S.
CNBC's David Faber reports Petronas is meeting with Canadian officials to better understand the country's acquisition requirements.
Fereidun Fesharaki, chairman of FACTS Global Energy, shares his views on why Ottawa in Canada blocked a 5.2 billion dollar acquisition by Petronas for Progress Energy, the Canadian natural gas producer.
Neil Beveridge, Senior Oil Analyst, Sanford C. Bernstein discusses Canada's openness to foreign investment after the government rejects Petronas' bid for Progress Energy.
One of the reports adds that the Marcellus reserves that lie below parts of Pennsylvania, West Virginia, Ohio and New York are far larger than recent government estimates, while another said the powerful combination of resource, cost and location is altering natural gas prices and market trends across the nation.
TORONTO-- Canada has blocked the Malaysian state-owned oil firm Petronas' US $5.2 billion bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada.
TORONTO-- Canada has blocked the Malaysian state-owned oil firm Petronas' US $5.2 billion bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada. "Canada has a long-standing reputation for welcoming foreign investment.
SUDDEN STALLS: Federal safety regulators are investigating a dozen complaints that engines on Jeep Patriot SUVs can stall without warning at highway speeds of 65 miles per hour or faster. Chrysler Group LLC, the maker of Jeeps, sold another 18,000 in Canada.
ALBANY, N.Y.-- A key lawmaker on energy policy says a company that plans to run a transmission line sending lower-cost Canadian electricity to New York City will also explore sharing that line with upstate utilities.
Benchmark oil fell $2.05 to finish at $90.05 per barrel in New York. Brent crude, which is used to price international varieties of oil, dropped $2.28, or 2 percent, to end at $110.14 per barrel in London. Several companies delivered weaker-than-expected third-quarter results, including Microsoft and McDonald's.
WASHINGTON-- The maker of Banana Boat sunscreen is recalling a half-million bottles of spray-on lotion after reports that a handful of people have caught on fire after applying the product and coming in contact with open flames.
NEW YORK-- HMX Acquisition Corp., the owner of tailored clothing brands including Hickey Freeman and Hart Schaffner Marx, is filing for Chapter 11 bankruptcy protection.
A California businessman chartered a fishing boat in July, loaded it with 100 tons of iron dust and cruised through Pacific waters off western Canada, spewing his cargo into the sea in an ecological experiment that has outraged scientists and government officials, The New York Times reports.
The price of oil is falling after TransCanada reaffirmed plans to restart a pipeline this weekend that carries crude from Canada to the Midwest. TransCanada closed the 2,100- mile pipeline Wednesday after tests showed possible safety issues.