Business

Canada has been granted observer status in Latin American's newest trade bloc. Chile, Colombia, Mexico and Peru formed the Pacific Alliance trading group last year in hopes of using their collective power to gain access to Asian markets.

Home resales across Canada last month were down slightly from September, continuing a mild housing market slowdown in the face of mortgage reforms, a weakening economy, high consumer debt and elevated property prices.

The plant at the centre of an extensive beef recall has resumed shipping products for the first time since an E. coli outbreak forced its closure in September. The union representing workers at the XL Foods Inc. plant in Brooks, Alta.

The long-awaited Oak Bay Beach Hotel opened on Thursday, but there's no room at the $52-million inn - at least this weekend. The grand waterfront property has booked all 100 rooms and 20 luxury suites to guests.

Google is investing $75 million in an Iowa wind farm as part of its effort to encourage development of cleaner energy sources. The deal gives Google Inc. a stake in the Ropey Wind Farm in Greene County, Iowa. RPM Access LLC is the primary owner.

The annual Condé Nast Traveler Readers' Choice Awards has voted Vancouver Island the top island in Canada and No. 6 in the world. Vancouver Island has remained among the top islands since 2000.

Pharmacy group adopts a less conventional approach

Net sales for the mutual-fund industry totalled $2.1 billion in October as investors bought up balanced and bond funds, according to data compiled by the Investment Funds Institute of Canada. The gains compared with net sales of $1.

McDonald's Corp. is hoping a leadership shake-up for its U.S. business will help it fight off intensifying competition.

Target, the U.S. retail giant coming to Canada next year, says its net income climbed 15 per cent in the third quarter, helped by a gain related to the pending sale of its credit-card business to a big Canadian bank.