Business

OTTAWA — Finance Minister Jim Flaherty is warning the Canadian economy stands to feel the tremors from the political and financial quake in Greece.
The increased alarm over possible after shocks from Europe follows a decision by the European Central Bank to cut off some troubled Greek banks over reports of a flight of deposits from the under-capitalized institutions.

OTTAWA — A new study from the Human Resources Department suggests Ottawa is looking at ways to get people receiving employment insurance to move to other regions with more jobs.
Such measures would go beyond the Harper government’s new policy that appears to require that some EI recipients take unfilled jobs but only in their own region.

MONTREAL—Resolute Forest Products, formerly known as AbitibiBowater Inc., says it has purchased more shares in takeover target Fibrek Inc., bringing its total stake in the company to 70.9 percent.
The Quebec-based company said late yesterday it has paid $5.4 million for some 9.9 million additional shares.
That pushes it beyond the 66.6 percent it needs to take over the company.

OTTAWA—The Harper Conservatives are signalling they are preparing to get tough with unemployed Canadians who refuse jobs they consider below them or too far away.

TORONTO — The Globe and Mail will soon move to an online pay-per-view model, the newspaper told employees Thursday as it also asked them to take unpaid leave in moves that will help the newspaper improve its bottom line.
Phillip Crawley said Thursday the newspaper has decided that beginning in the fall, premium content will be shielded behind a paywall.

LONDON — Shares in major British banks fell Friday in the first day of trading after JPMorgan Chase revealed a loss of $2 billion in six weeks in trading on derivatives by its London operation.
Barclays, which has a large investment banking arm, was the biggest loser in London trading Friday morning, down 2.9 per cent at 202.7 pence in midmorning trading.

MONTREAL — Osisko Mining Corp. (TSX:OSK) said late Thursday it swung to profit in the first quarter, just hours after it announced it will have to shut down its Canadian Malartic mill for as long as three weeks after a fire broke out late Wednesday night.

TORONTO — Ontario announced a $3.3-billion investment by an American mining company Wednesday to develop the Ring of Fire, a huge mineral deposit near James Bay, but First Nations are still not on board.

TORONTO — Postmedia Network Inc. — the proprietor of some of Canada’s most storied newspapers, including the National Post, the Montreal Gazette and the Ottawa Citizen — is returning as a client of The Canadian Press after a five-year absence, the national news agency announced Monday.

MONTREAL—The head of Resolute Forest Products says he can’t understand the nervousness in Quebec’s Lac St. Jean region to its hostile takeover bid for Fibrek, which appears to be nearing success.