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Topics News & Markets Netflix trims 4th quarter earnings to account for $9 million settlement of video privacy case By Michael Liedtke, The Associated Press | February 10, 2012 SAN FRANCISCO - Netflix pressed the rewind button on its fourth-quarter earnings after settling allegations that the video subscription service violated a consumer-privacy law. Accounting for the $9 million settlement resulted in a 14 per cent decrease in the fourth-quarter net income...

Topics News & Markets S&P cuts ratings on 34 Italian banks citing concern over nation's finances, weak bank profits By The Associated Press | February 10, 2012 NEW YORK, N.Y. - Standard & Poor's Ratings Services on Friday lowered its ratings on 34 Italian banks, citing concerns over Italy's financial vulnerability and expectations for weak profits at the banks. Among the banks downgraded were some of Italy's largest, including UniCredit SpA...

Topics News & Markets MF Global trustee sees gap of at least $1.6 billion, up from earlier estimate of $1.2 billion By The Associated Press | February 10, 2012 The trustee overseeing MF Global's liquidation said Friday that the shortfall between the funds under his control and the amount customers of the failed brokerage are expected to claim is at least $1.6 billion, incluging $700 million in customer money in Britain. The gap estimated by...

Facing down protests, dissent, Greece vows to push through austerity warns of default 'chaos'Commuters wait for the first train after a five-hour work stoppage by urban rail workers, as all other public transport employees are on a 48-hour strike, in Athens on Friday, Feb. 10, 2012. Unions in Greece launched a two-day general strike against planned austerity measures Friday, a day after the country's crucial international bailout was put in limbo by its partners in the 17-nation eurozone. (AP Photo/Thanassis Stavrakis)

Topics News & Markets Facing down protests, dissent, Greece vows to push through austerity warns of default 'chaos' By Derek Gatopoulos,Nicholas Paphitis, The Associated Press | February 10, 2012 ATHENS, Greece - Greece's future in the eurozone came under renewed threat as popular protests again turned violent and dissent grew among its lawmakers after European leaders demanded deeper spending cuts. The country's beleaguered coalition government promised to push through the...

Topics News & Markets Canadian Satellite Radio Holdings rises to first-quarter profit, revenues grow By The Canadian Press | February 10, 2012 TORONTO - Canadian Satellite Radio Holdings Inc. (TSX:XSR), the parent of broadcasters XM Canada and Sirius Canada, posted a loss in the first quarter. The holding company, which merged the XM and Sirius firms last year, delivered a loss of $3.4 million in the three months ended Nov...

Topics News & Markets Hydro One net income up 8% at $641M; revenue rises seven per cent to $5.47B By The Canadian Press | February 10, 2012 TORONTO - Higher rates helped power Hydro One Inc. to solid increases in both net income and revenue in 2011, the Ontario-government owned electricity transmission and distribution company reported Friday. Hydro One said net income for the year was $641 million on revenues of $5.47...

Topics News & Markets Foolish to dismiss free trade talks with China out of hand, says think-tank By Julian Beltrame, The Canadian Press | February 10, 2012 OTTAWA - The Harper government would be "foolish" not to pursue a free trade agreement with China, despite the political differences between the two countries, says the head of the Asia Pacific Foundation of Canada. Yuen Pau Woo said Friday the overture from the Chinese premier during...

Topics News & Markets Cuts to elderly benefits years away, not for tomorrow, says Flaherty By Julian Beltrame, The Canadian Press | February 10, 2012 OTTAWA - Canadians won't have to worry about cuts to elderly benefits for years, Finance Minister Jim Flaherty said Friday, hinting that changes won't happen until at least 2020. The finance minister's statement about Old Age Security changes follows a week of opposition attacks in...

SNC Lavalin parts ways with two execs after published report of internal turmoilThe entrance to SNC-Lavalin headquarters in Montreal is shown in a photo released on June 3, 2011. THE CANADIAN PRESS/HO

Topics News & Markets SNC Lavalin parts ways with two execs after published report of internal turmoil By The Canadian Press | February 10, 2012 MONTREAL - SNC Lavalin has parted ways with two of its executives after acknowledging that the conduct of its employees has recently been questioned in public.< The company (TSX:SNC) says executive vice-president Riadh Ben Aissa and vice-president finance Stephane Roy are no longer...

Topics News & Markets Quebec takes sides in forestry battle by loaning Mercer to buy Fibrek By Ross Marowits, The Canadian Press | February 10, 2012 MONTREAL - The Quebec government is taking sides in the takeover battle for pulp producer Fibrek Inc. (TSX:FBK) by helping fund a Vancouver-based forestry company's $170-million bid against a competing offer from Resolute Forest Products (TSX:ABH). Mercer International (TSX:MRI.U...