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Labour productivity of Canadian businesses rose slightly as economic output and hours worked declined sharply in the first quarter, Statistics Canada reported Wednesday. Overall productivity, which measures real GDP per hour worked in Canada, rose 0.

Canadian small businesses are doing better than they expected and are more confident about their future, according to the Staples Canada national small business quarterly survey.

The global recession has resulted in a Dutch investment firm taking over a Delta aerospace parts maker. Avcorp Industries Inc. (TSX:AVP) has entered into an investment agreement with Panta Holdings BV that will provide Avcorp with $7.

Vancouver-based Platinum Group Metals Ltd. (TSX:PTM) has closed a $35 million public offering. It included 25 million $1.40 units and an additional 37,500 warrants at $0.08 per warrant.

While weakness in B.C.'s economy has spread and accelerated in recent months, the province has likely seen the worst of the recession, according to the Royal Bank's provincial forecast. B.C.'s real first-quarter GDP dropped 1.9%.

Vancouver's Uranium One Inc. (TSX:UUU) plans to acquire 50% interest in the Karatau Uranium mine from a Russian company in a cash and share deal worth approximately $455 million.

Canadian industry continued to reduce its production in 2009's first quarter, according to Statistics Canada.

A proposed 500-kilovolt transmission line that would run from near Merritt to Coquitlam that has been approved by the B.C. government is sparking anger among Interior First Nations groups. B.C. Transmission Corp.

Not all real estate markets are equally suffering from the recession, according to Century 21.

Low market demand and a tax credit for U.S. pulp producers is forcing Quebec-based Tembec to shut down its B.C. pulp mill in Skookumchuck for two weeks. Located about 50 kilometres north of Cranbrook, the mill will begin its shutdown June 29.