Oil prices hit eight-month lows under 90$

AFP - LONDON (AFP) - Crude oil prices slumped to eight month low points below 90 dollars a barrel on Monday as worsening financial turmoil triggered fears about slowing demand for energy, traders...

Fed pays interest on deposits, hikes bank credit to $900bln

AFP - WASHINGTON (AFP) - The Federal Reserve said Monday it would start to pay interest on bank deposits for the first time and expand bank refinancing operations to 900 billion dollars by year-end...

Scotia buys C$2.3 billion CI stake from Sun Life

Reuters - TORONTO (Reuters) - Bank of Nova Scotia said on Monday it planned to spend C$2.3 billion in cash to buy Sun Life Financial's stake in fund manager CI Financial, the bank's latest step...

Bank of Nova Scotia sees Canadian recession

Reuters - NEW YORK (Reuters) - Bank of Nova Scotia said on Monday Washington's $700 billion plan to rescue the troubled U.S. financial system was too late to stop Canada from slipping into...

Stock markets open sharply lower on falling crude prices, bailout nervousness

The Canadian Press - TORONTO - The Toronto stock market opened sharply lower Monday morning amid plunging crude oil prices, which fell below US$90 before rebounding slightly.