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  • 28 Sep 2019 12:11 | Divjot S. Mehton (Administrator)

    They're dressed in an all-black uniform, faces distorted behind gas masks, using umbrellas as shields, and following a sophisticated set of hand motions which act as their form of communication. 

    For more than three months, millions of civilians have been protesting the Hong Kong government.

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  • 23 Sep 2019 21:47 | Divjot S. Mehton (Administrator)

    The Monday after last Thanksgiving, Mary Barra, chief executive officer of General Motors Co., announced the automaker’s biggest layoff since its 2009 bankruptcy. Five North American factories were marked for closure. Six thousand hourly jobs in the U.S. and Canada would soon be eliminated, and about 18,000 salaried employees would have until the end of the year to consider a buyout package. GM needed more than a third of the salaried personnel to accept. Fewer than 2,000 did. The remainder would have to be let go, which they were, starting in February.

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  • 23 Sep 2019 21:46 | Divjot S. Mehton (Administrator)

    Prime Minister Justin Trudeau pledged a major personal income tax break if re-elected, as the Canadian leader tries to recover from revelations he wore blackface makeup on multiple occasions.

    The governing Liberal Party would raise the basic personal income tax deduction -- the threshold under which no taxes are paid -- by slightly more than 20% over the next four years. That’s expected to cost an annual C$5.6 billion ($3.8 billion) by the time it’s fully implemented, and paid for by soon-to-be-announced “measures that make our tax system fairer for Canadians,” the Liberals said in a statement Sunday.


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  • 15 Sep 2019 13:39 | Divjot S. Mehton (Administrator)

    On Saturday, a drone strike on two major Saudi Arabian oil refineries knocked out about half of the country's oil production.

    The production shutdown amounts to about 5% of the world's daily production of crude oil, or roughly 5 million barrels. The attack came as state-owned oil giant Saudi Aramco has been plotting a massive initial public offering. Yemen's Houthi rebel group claimed responsibility for the attack.

    The Saudi index fell 2.3% at the opening on Sunday before recovering, Reuters reported. The move erased any stock gains on the index for the year, Bloomberg reported.

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  • 10 Sep 2019 12:40 | Divjot S. Mehton (Administrator)

    Canada recorded one of its best months of job gains on record in August, a surprising show of strength by a labor market that has relentlessly powered the nation’s expansion.

    The economy added 81,100 jobs last month, Statistics Canada said Friday in Ottawa, versus expectations for a gain of about 20,000. It’s the seventh largest monthly gain in records going back to 1976. Canada has now added 471,300 jobs over the past 12 months, the most in a year since 2003.

    Friday’s jobs report will only reaffirm expectations at the Bank of Canada that the nation’s economy has developed a certain amount of resilience to global trade headwinds, giving the central bank ammunition to buck the global easing trend. For one, the gain in August should ease worries about the extent of any slowdown in the second half of this year.

    “If the Bank of Canada was on the fence about cutting rates in October, today’s jobs numbers might be one further push towards standing pat,” Avery Shenfeld, chief economist at CIBC World Markets, said in a note to investors.

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  • 04 Sep 2019 09:43 | Divjot S. Mehton (Administrator)

    Canada’s trade deficit widened more than expected as energy shipments abroad declined for a second month, a sign recent export strength could be fading.

    The nation’s merchandise trade gap hit C$1.12 billion ($840,000 million) in July, Statistics Canada said Wednesday from Ottawa. Economists surveyed by Bloomberg were expecting a deficit of C$350 million.

    Exports fell 0.9%, led lower by a 6.7% decline in energy shipments. Crude oil exports pulled back 7.7%. And stripping away price effects, exports edged down 0.1% on the month.

    While economic growth in Canada led the Group of Seven in the second quarter, the expansion was driven primarily by a rebound in oil exports after a half year of dismal growth. Rising global uncertainty amid the escalating trade war between the U.S. and China threatens the northern nation’s export prospects, a topic likely to be addressed by the Bank of Canada at its rate decision later Wednesday morning.

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  • 30 Aug 2019 14:59 | Divjot S. Mehton (Administrator)

    Sausages, ketchup and mustard, plastic plates — all essential ingredients for Americans tending to their grills this Labor Day weekend. Soon they’ll be 15% more expensive to import from China.

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  • 30 Aug 2019 14:48 | Divjot S. Mehton (Administrator)

    India’s waning consumption and a deteriorating global environment deepened a slowdown in Asia’s third-largest economy, nudging its government into action to supplement the central bank’s monetary stimulus.

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  • 21 Aug 2019 09:59 | Divjot S. Mehton (Administrator)

    President Donald Trump on Tuesday described the prospect of the US falling into recession as "irrelevant" and defended his decision to wage a trade war with China.

    During a White House visit by Romanian President Klaus Iohannis, Trump was asked about concerns that his trade war with China was dragging down the US economy.

    "Somebody had to take China on," Trump replied. "And it's about time, whether it's good for our country, or bad for our country short term.

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  • 12 Aug 2019 12:03 | Divjot S. Mehton (Administrator)

    Facebook Inc. is participating in a $125 million fundraising for an Indian startup that is aiming to bring more commerce to social networks like, well, Facebook.

    Meesho, based in Bangalore, is what’s known in the tech industry as a social commerce startup, allowing people to build connections online and then sell through services such as Facebook and its WhatsApp and Instagram services. The funding round was led by South Africa’s Naspers Ltd. and also included Sequoia, Shunwei Capital, Venture Highway and Arun Sarin, the former chief executive officer of Vodafone Group Plc.

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