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Business

Apple to split stock, increase stock buyback program, raise dividend as revenue growth slows

CUPERTINO, Calif. - Apple plans to buy back an additional $30 billion of its stock, raise its quarterly dividend by 8 per cent and split its stock for the first time in nine years.

Oil slips to US$102 a barrel as reports shows big increase in US supplies

NEW YORK, N.Y. - The price of oil slipped Wednesday as a government report showed U.S. oil supplies rose more than expected last week.

Most actively traded companies on the TSX, TSX Venture Exchange

TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange:

FedEx takes a page from Canada Post playbook with new locations at Home Hardware

TORONTO - As more Canadians turn to online shopping, FedEx hopes an agreement to open shipping centres at Home Hardware Stores Ltd. will help it grab a larger piece of the growing e-commerce market.

Ottawa to propose new pension scheme, but is not budging on CPP expansion

OTTAWA - The federal government is planning more pension plan changes, this time affecting Crown corporations and federally regulated firms.

Mega Brands shareholders vote to approve US$460-million takeover by Mattel

MONTREAL - Mega Brands shareholders have overwhelmingly approved a US$460-million friendly takeover of Canada's only publicly owned toy company by American giant Mattel.

Chinese-owned Nexen Energy says it's replacing CEO Kevin Reinhart

CALGARY - Nexen Energy, the Calgary-based oil and gas company acquired last year by Chinese state-owned firm CNOOC Ltd., is replacing Kevin Reinhart as CEO.

Montreal board of trade urges Oliver to abandon national securities regulator

MONTREAL - Montreal's business community urged Finance Minister Joe Oliver on Wednesday to "reconsider" Ottawa's efforts to create a national securities regulator.

Loonie little changed amid rising retail sales, disappointing Chinese data

TORONTO - The Canadian dollar closed slightly lower Wednesday amid better than expected February retail sales.

Ontario judge dismisses Bre-X lawsuits, orders remaining money to go to charity

TORONTO - After nearly two decades, an Ontario court has dismissed the last two lawsuits involving the Bre-X Minerals scandal, which resulted in investors losing an estimated $1 billion.

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