Newspaper article The Canadian Press

Business News as of 3 P.M. ET

Newspaper article The Canadian Press

Business News as of 3 P.M. ET

Article excerpt

Business News as of 3 p.m. ET

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FRIDAY,JULY 30, 2015, 3 p.m. ET.

BUSINESS NEWS ADVISORY

Here are the CP Business Department's plans for today as of 3 p.m. All times Eastern unless otherwise stated. Entries are subject to change as news develops. If you have any questions, please don't hesitate to email Business Editor Lee-Anne Goodman at lee-anne.goodman@thecanadianpress.com, Assistant Business Editor Tara Brautigam at tara.brautigam@thecanadianpress.com, or the department at business@thecanadianpress.com. We can also be reached at 416-507-2138.

TOP NEWS:

'Sour result' as economy continues decline

Statcan-Economy-May

OTTAWA -- The Canadian economy contracted in May, the fifth consecutive monthly decrease, increasing the possibility the country slipped into a recession in the first half of the year.Real gross domestic product fell 0.2 per cent in May due mostly to weakness in manufacturing, mining, quarrying and oil and gas extraction as well as wholesale trade, Statistics Canada said Friday. Moves National and Business, please guard against duplication. 580 words. By Craig Wong.

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Energy East price tag rising: TransCanada

TransCanada

CALGARY -- It's looking like the Energy East project is going to get more expensive.TransCanada Corp. (TSX:TRP), the company planning to build the controversial cross-Canada oil pipeline, had been estimating it would cost $12 billion. Moved Business and National; Guard against duplication; Previous version moved Business only. 500 words. By Lauren Krugel.

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RioCan launching review of U.S. properties

RioCan

TORONTO -- RioCan Real Estate Investment Trust (TSX:REI.UN) is launching a strategic review of its U.S. operations, a process that could lead to the real estate giant selling part or all of its portfolio of properties south of the border."It's very difficult to grow down there," chief executive Edward Sonshine said during a conference call Friday with investors. 520 words. By Alexandra Posadzki.

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Imperial Oil Q2 profit falls by 90 per cent

Imperial-Oil

CALGARY -- Imperial Oil's (TSX:IMO) second-quarter profit plunged 90 per cent from last year to $120 million from $1.2 billion as the oil producer dealt with the sharp drop in oil prices.Imperial, one of Canada's largest oil extraction and refining companies, said the profit amounted to 14 cents a share, down from $1.45 per share the second period last year. 200 words.

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Ottawa closes book on Canadian Wheat Board

Wheat-Board-Privatization

EDMONTON -- The federal government has closed the book on what was once called the Canadian Wheat Board.Agriculture Minister Gerry Ritz says Ottawa has finalized the sale of the agency that marketed grain for western Canadian farmers since 1935 to G3 Global Grain Group. Will be writethru. Moves west-regional and business. GUARD against duplication. 130 words.

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Ontario, Ottawa helping Toyota expansion

Toyota-Ontario

CAMBRIDGE -- The federal and provincial governments have teamed up to provide about $100 million to help expand Toyota's manufacturing operations in southern Ontario. …

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