Business

Walmart reported a nine per cent increase in net income for the third quarter, but revenue for the world's largest retailer fell below Wall Street forecasts as its low-income shoppers continue to grapple with an uncertain economy.

Shares in Poseidon Concepts Corp. were decimated on the Toronto Stock Exchange Thursday after the company reported weaker quarterly results and lowered earnings and spending expectations for the remainder of the year.

Bombardier shares hit a three-year low on the Toronto Stock Exchange amid several downgrades from credit ratings agencies. Bombardier stock closed down six per cent, or 20 cents per share, to $2.99 on heavy trading of more than 43 million shares.

Oil company agrees to $4.5-billion settlement; three employees charged, two for manslaughter

Jerry Wyshnowsky, Thrifty Foods' director of energy and the environment, has been awarded an Excellence Award from B.C. Hydro for his role as a Power Smart energy manager.

Conrad Black's former business partner David Radler has been barred from acting as an officer or director of a public company in Ontario for his role in the fraud at Hollinger newspaper group, but has escaped financial penalty.

The Standard and Poor's ratings agency downgraded Bombardier's long-term corporate rating one notch, lowering the plane and train maker's status after a weak earnings report.

Black-Berry's messenger service is being updated to allow users to make voice calls over Wi-Fi networks.

U.S. President Barack Obama said Republicans would have to agree to raise taxes on the wealthy as the first step in a budget deal that would prevent a dysfunctional Washington from pushing the economy into recession.

Unemployed people in B.C. who are looking for skills training so they can find work can now apply for extra tuition help from the provincial government.