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Business

Foreign investment up in February by $6.1 billion, Statistics Canada says

OTTAWA - Statistics Canada says foreign investment in Canadian securities grew by $6.1 billion in February and this was matched by Canadian purchases of $6 billion in foreign securities.

CPP Investment board to sell Texas-based air system company for US$1.6 billion

TORONTO - The body that manages investments for the Canada Pension Plan has agreed to sell Air Distribution Technologies, Inc. to Johnson Controls in a deal valued at approximately US$1.6 billion.

Canadian dollar little changed ahead of Bank of Canada rate announcement

TORONTO - The Canadian dollar was little changed ahead of the mid-morning announcement by the Bank of Canada on interest rates.

China's growth slows to 7.4 per cent in Q1, raising risk of job losses

BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses.

Bank of America swings to loss from profit, hurt by legal expenses

CHARLOTTE, N.C. - Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal expenses.

TSX set to rise, commodities up as Chinese economy performs better than expected

TORONTO - The Toronto stock market was set to advance Wednesday amid signs that economic growth in China held up better than expected during the first quarter.

Robotic submarine continues search for Malaysian plane wreckage

PERTH, Australia - As a robotic submarine dove into the ocean to look for lost Flight 370, angry Chinese relatives stormed out of a teleconference meeting Wednesday to protest the Malaysian government for not addressing them in person.

China's economic growth slows to 7.4 per cent, raising risk of job losses, impact on trade

BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses.

B.C.'s provincial auto insurer to pay back $39 million in overcharged fees

VANCOUVER - The Insurance Corporation of British Columbia says that it will be informing customers within the next 90 days whether they have been billed the wrong amount due to database errors.

Wireless industry, carriers volunteer to offer anti-theft software on smartphones by 2015

SAN FRANCISCO - A trade group for wireless providers said Tuesday that the biggest mobile device manufacturers and carriers will soon put anti-theft tools on the gadgets to try to deter rampant smartphone theft.

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