Business

TORONTO — It seems like Canadians may be heeding the repeated warnings about loading on debt — unless they’re a senior.
A study released Wednesday by TD Bank found that although last year Canadian household debt levels grew at their slowest pace since 2003, debt accumulation by those aged 65 and over is markedly up.

DALLAS — American Airlines and US Airways have agreed to merge in an $11 billion deal to create the world’s biggest airline.
The combined carrier will be called American Airlines but run by US Airways CEO Doug Parker.
The boards of the two airlines unanimously approved the deal late Wednesday, and the companies announced the agreement Thursday.

HONG KONG — Global gold sales slipped in 2012 for the first time in three years as the biggest central bank purchases in half a century weren’t able to offset a decline in demand from India, an industry group said Thursday.

LOS ANGELES — Comcast is buying the rest of NBCUniversal from General Electric several years ahead of schedule to take advantage of low interest rates and what its CEO calls a “very attractive price” of $16.7 billion.

TORONTO — While hockey season is back in full swing after the NHL lockout, longtime Edmonton Oilers fan Edward Wright has nearly abandoned the game he once obsessed over.

MONTREAL — Resolute Forest Products Inc. beat expectations even though its net loss surged to $36 million in the fourth quarter due to several factors, including lower prices and volumes in its paper business as well as costs associated with idled operations.

EDMONTON — Canada’s ambassador to China says money from the Asian country is likely to keep pouring into Canadian resource projects.
But Guy Saint-Jacques also says he thinks those dollars will increasingly flow into mining and forestry as well as energy development.

OTTAWA — Far from the loud Parliament Hill battle between Conservatives and environmentalists, a group of forest industry executives and conservationists are quietly forging agreements that will permit an increase in logging while also protecting endangered caribou and fragile ecosystems.
But they say they’re being stymied by bureaucracy.

TORONTO — A majority of Canadian respondents to a recent poll say they plan on putting money away for retirement this year, but the likelihood of that actually happening is considered slim.
The study, released Monday by CIBC (TSX:CM), found that 60 per cent of those polled say they want to contribute to their RRSP, tax-free savings account or both, in 2013.

CALGARY — The inability to get oilsands crude to the right markets is costing the Canadian economy dearly, according to a new report paid for by the Saskatchewan government.
Each stalled pipeline project means a loss to the Canadian economy of between $30 million and $70 million every day, said the report penned by the Canada West Foundation, a Calgary-based think-tank.