• Oil prices dip on swelling U.S. supply; OPEC output cuts loom
Oil prices dip on swelling U.S. supply; OPEC output cuts loom

John Hancock Financial Services' Adam Wise, a strategist who takes care of a $9 billion oil and gas portfolio, stated that everyone was now looking towards the OPEC meeting next week to get a sense of which direction oil prices were going to take.

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  • Fed rate hikes aren't automatic - Powell
Fed rate hikes aren't automatic - Powell

Powell said that "there is no preset policy path" for future rate hikes and the current level for the Fed's benchmark rate was very close to "neutral", the point where the Fed is neither stimulating economic growth or slowing growth. Eurodollar futures pricing reacted to Powell's comments, reflecting even firmer expectations that the Fed will hik...

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  • Trump signs trade deal with Mexico and Canada
Trump signs trade deal with Mexico and Canada

At various times this year, administration officials said publicly that the tariffs would be lifted when a new deal was reached to replace the 1994 North American Free Trade Agreement. with these agreements, there are always details to be finalized and we are very hard at work doing that", Freeland said in televised remarks. Mexico swiftly retaliat...

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  • Stocks markets surge on hint of slower rate hikes
Stocks markets surge on hint of slower rate hikes

U.S. Federal Reserve Chair Jerome Powell injected investors with a strong dose of optimism on Wednesday, saying that the central bank's policy rate is now "just below" estimates of a level that neither brakes nor boosts a healthy U.S. The S&P 500 was up 1.6 per cent as of 1:26 p.m.in NY, on track for its biggest rally in three weeks, while the...

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  • Trump downplays GM plant closings, repeats false claim about steel plants
Trump downplays GM plant closings, repeats false claim about steel plants

When contacted by Fortune , GM did not comment on the president's threat or indicate whether it receives federal subsidies. Kudlow, who met with Barra on Monday, said Trump felt betrayed by GM. GM then started offering buyouts to 18,000 workers, before moving on to the plant closures announced this week. Such tariffs, according to an analysi...

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  • What to expect from the G20 meeting between Trump and Xi
What to expect from the G20 meeting between Trump and Xi

The United States has imposed import taxes on $250 billion worth of Chinese products and China has countered by targeting $110 billion in US imports. "Bracing for delays in material from China - a rush of orders trying to race tariff implementation is flooding shipping and customs". "We have briefed the Prime Minister's Office on the current ...

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  • National Canada Post Mail Service Resumes News Centre News
National Canada Post Mail Service Resumes News Centre News

Bill C-89 was debated in the upper chamber on Saturday after the Liberal government fast-tracked the legislation through the Commons, but senators chose to take an extra day to digest hours of witness testimony. Despite backlash from CUPW, businesses have praised the move by the Liberals, saying ordering postal workers back to work will "help salva...

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  • Microsoft briefly ousts Apple as the most valuable company
Microsoft briefly ousts Apple as the most valuable company

Apple stock is on pace to have its worst month since 2008 , dropping 21% and wiping out over $200 billion in value. For the first time in years, Apple gave up its crown as the world's most valuable publicly traded company Monday, at least for part of the trading day.

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  • German police raid Deutsche Bank in money laundering probe
German police raid Deutsche Bank in money laundering probe

The officials said the Thursday raid wasn't related to its role as a correspondent bank for money laundering at Denmark's Danske Bank . German prosecutors raided several Deutsche Bank offices in the Frankfurt area over suspicions of money laundering based on revelations from the 2016 "Panama Papers" data leak .

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  • Despite Tumbling Bitcoin Price Nasdaq Still Moves Ahead With Futures
Despite Tumbling Bitcoin Price Nasdaq Still Moves Ahead With Futures

After hinting at the prospect late previous year, Nasdaq will finally launch a platform for trading bitcoin futures contracts in early 2019. Significantly, Nasdaq is not the only stock exchange that is showing keen interest on bitcoin derivatives since Interconentinental Exchange Inc, the owner of New York Stock Exchange, indicated its ...

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  • Oil prices steady near year lows ahead of G20, OPEC meeting
Oil prices steady near year lows ahead of G20, OPEC meeting

Futures added 1.7 percent, after slumping 7.7 percent on Friday. Crude oil futures were almost flat Tuesday morning, amid divided opinions as some analysts point to the likelihood of increased inventories adding to bearishness, while others see the bigger selloff as mostly done.

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  • Canada’s auto industry at risk if GM leaves Oshawa: Dias
Canada’s auto industry at risk if GM leaves Oshawa: Dias

Production at the plant in Oshawa, Ontario fell to about 148,000 vehicles past year from a peak of 940,000 in 2003, a drop of about 85 per cent, according to Dennis DesRosiers of DesRosiers Automotive Consultants Inc. The auto manufacturer announced the closures as part of a sweeping strategy to transform its product line and manufacturing process ...

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  • Trump expresses more displeasure with Fed chairman
Trump expresses more displeasure with Fed chairman

The benchmark Dow Jones Industrial Average powered 2.5 per cent higher, turning positive for the year after steep recent losses. "Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy - that is, neither speeding up nor slowing down growth", ...

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  • Apple facing 10% increase in products price ahead of US-China summit
Apple facing 10% increase in products price ahead of US-China summit

While Trump said the US economy wouldn't suffer if an agreement wasn't reached with China - he argued the country would benefit from tariffs collected on Chinese imports - that might not be the case, according to the study. Trump's advice to all businesses that manufacture is to "build factories in the United States and to make the product here"....

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  • Microsoft catches up with Apple's stock market value
Microsoft catches up with Apple's stock market value

But investors have punished consumer-focused companies like Apple and Amazon.com more than firms that mostly cater to businesses, like Microsoft. This was particularly galling for the Redmond, Washington-based company because it once kept Apple afloat with a cash infusion in the 1990s.

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  • China has to treat USA fairly
China has to treat USA fairly

The president told the Wall Street Journal that if his meeting with Xi doesn't have a positive outcome, he will raise tariffs on all remaining imported goods from China. Many products, such as mobile phones and laptops, were exempt from those tariffs. Apple's stock is down more than 20 percent since November 1, when it gave a lukewarm sales f...

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  • Trump threatens to cut General Motors subsidies as carmaker axes jobs
Trump threatens to cut General Motors subsidies as carmaker axes jobs

GM isn't the first to abandon much of its auto market. Still, GM will shutter three North American auto assembly plants next year: the Oshawa plant in Ontario, Canada; Hamtramck in Detroit, Michigan and Lordstown in Warren, Ohio. Some 75 percent of its global sales will come from just five vehicle architectures by the early 2020s. Senator Rob P...

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  • Parsing what GM means by closing 'unallocated' plants
Parsing what GM means by closing 'unallocated' plants

GM jumped as much as 7.9 per cent to US$38.75, the highest since July, as of 11.16am in NY trading. General Motors' decision to halt production in two states that were key to Donald Trump's 2016 victory could complicate the president's re-election bid.

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  • Prime Minister Theresa May Addresses Brexit Deal in British Parliament
Prime Minister Theresa May Addresses Brexit Deal in British Parliament

At number of leaders, including German Chancellor Angela Merkel, expressed "sadness" that they were setting the seal on the UK's withdrawal from the EU. The deal makes no real guarantees about what the future European Union . While over 500,000 people marched in London to ask for a second Brexit referendum, May said last week that she has cate...

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  • Democrats to probe Trump money ties to Russia, Saudis: Lawmaker
Democrats to probe Trump money ties to Russia, Saudis: Lawmaker

The Saudi journalist, who was a US resident and contributor to The Post , was killed and allegedly dismembered with a bonesaw by a team of Saudi agents after he entered the kingdom's consulate in Istanbul. Ernst also said she'd "tend to be with my colleagues" in demanding congressional action against the Saudis. I think we need to distinguish ...

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