AbitibiBowater faring no better in 2008.(IN BRIEF)

AbitibiBowater's losses keep mounting with a $251 million posted for their second quarter, ending June 30. That's up from a year ago when the world's largest newsprint maker reported $248 million in losses during the same quarter.

CEO Dave Paterson said consumption of newsprint in 2008 is down much more than anticipated and costs are soaring.

The company says it will take a tough stand on next year's contract negotiations after workers rejected wage and pension concessions that the company said was needed to lower operating costs.

The Montreal-based company, formed by last year's merger of Abitibi-Consolidated and Bowater, closed mills in Ontario, Quebec, New Brunswick, British Columbia and Texas, affecting 2,600 jobs.

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