Markets

Oil prices reach 15-month high, boosts TSX

As a dollar-denominated commodity, a higher United States currency tends to make oil less affordable to global buyers. US crude was up 2.2 percent at $51.39 a barrel and Brent last traded at $52.48, up 1.6 percent on the day. The latest draw in crude was large enough to overcome an addition to gasoline stockpiles, and the total amount of all oil and refined products in storage fell by 3.6 million barrels. Read More

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MPs given chance to vote on stripping Sir Philip Green of knighthood

MPs given chance to vote on stripping Sir Philip Green of knighthood

The backbench motion calls on Green to resolve the deficit in the BHS pension fund, which at last count stood at £571m, while an amendment demands the businessman be stripped off his knighthood. "What I want to see more than anything - more than further damage to Sir Philip Green's reputation, more than his humiliation, more than the removal of his knighthood - is the money". Read More

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Germany's Merkel in Mali to strengthen development, ties

Chancellor Angela Merkel is pushing for more global support for Africa, saying it's important to fight problems causing people to flee their homelands and help promoted development as populations boom. That last category is the focus of May's government, which has pledged to curb immigration from European Union countries following June's shock referendum result to quit the European Union that upended British politics and brought her to power. Read More

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IBM posts smallest drop in quarterly revenue in over four years

IBM posts smallest drop in quarterly revenue in over four years

In last year's third quarter, the tech giant posted $19.28 billion in revenue. Net income fell to $2.85 billion, or $2.98 per share, from $2.95 billion, or $3.01 per share. The disclosure for this sale can be found here. US based company, International Business Machines Corporation's ( IBM)'s latest closing price distance was 5.66% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -2.39% and -0.97% compared with the 20 Day Moving Average. Read More

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OPEC to hold informal producer talks next week in Istanbul

Oil futures rose on the latest draw, with USA light crude up 2.3 percent to $49.82 a barrel. USA inventories fell by 14.5 million barrels at the start of September, more than any other week since 1999. The five-week run of drawdowns has surprised some because it was kicked off with a 14 million-barrel drop - the largest plunge since 1999 - at the beginning of September as imports were disrupted by severe Gulf Coast weather. Read More

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Wells Fargo CEO John Stumpf resigns effective immediately

The bank is replacing Stumpf with Tim Sloan, its president and chief operating officer, who it also elected to the board, and Stephen Sanger, its lead director as its non-executive chairman. Wells Fargo & Company is a financial services and bank holding company. But that just stoked lawmakers' anger, and the scandal continued to grow. "A CEO leaving may be a step in the right direction, but the path to repairing trust is a long one", said Steve Beck, founder of management consultancy cg42. Read More

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The Apprentice Producer Mark Burnett Broke His Silence on Donald Trump Footage

Nee also claims that anyone caught releasing the footage would have to pay as much as a $5 million leak fee, per their contract with Apprentice executive producer Mark Burnett . Burnett also dismissed claims that the controversial footage is been kept out of the public domain because of claims he is a pro-Trump supporter. It has been reported that during his years hosting The Apprentice , Trump repeatedly demeaned women with sexually tinged comments, rated female contestants by their ... Read More

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United Kingdom lawmakers press government for vote on Brexit-EU talks

The British currency is particularly sensitive to any suggestion that the country might be heading towards a "hard Brexit", or a clean break from the EU's single market of 500 million consumers in order to control immigration. "That question was not on the ballot paper", Starmer said. "The mandate on the 23rd of June was not a mandate on the terms (of a Brexit deal)". May faced a rebellion from members of her own party and was forced to concede that Conservative lawmakers could support the ... Read More

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Cuomo admin, CWA rip into Verizon over call center closings

Cuomo admin, CWA rip into Verizon over call center closings

Employees will receive a $500 stipend to research other call center locations if they choose and those who do relocate will receive a $10,000 stipend for the move. "This was a very hard but necessary business decision", Verizon said in a statement. The strike, which was one of the largest in recent years in the United States, drew support from Democratic U.S. Read More

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S. African finance minister to be prosecuted for fraud

S. African finance minister to be prosecuted for fraud

During the period, the number of long-term unemployed persons increased by 828, 000, accounting for 88 percent of the increase in the total number of the unemployed, Statistics South Africa said in its Labour Market Dynamics report. Gordham is "innocent until and unless proven otherwise by a court of law", Zuma stressed. The charges relate to Gordhan approving the early retirement of a former colleague at the revenue service and then allowing him to be rehired on a contract basis during ... Read More

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Proctor wants state, others to cut off Wells Fargo

Proctor wants state, others to cut off Wells Fargo

Stumpf was seeking to rebound from a disastrous appearance before the Senate, a hearing that was highlighted by Senator Elizabeth Warren's epic takedown, that quickly went viral on social media and got laughs on late-night television. In a settlement with the Justice Department, the bank is paying $4.1 million to resolve allegations it repossessed 413 cars owned by service members without obtaining court orders. Read More

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China reports 6 dead, over 20 missing after landslides

China reports 6 dead, over 20 missing after landslides

The landslides Wednesday in Zhejiang province, south of the financial hub of Shanghai, followed Typhoon Megi , which brought heavy rains and high winds to China and Taiwan this past week. "I was running so fast that I even lost one of my shoes", said 58-year-old Su Guohong. In Taiwan, almost 4 million homes lost power and 10 provincial highways remained closed Wednesday, one day after heavy rain and sustained winds of 160 kilometers per hour blanketed the island, Taiwan's official Central ... Read More

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After 91 Years, Ford's Australian Car Production Line Ends

After 91 Years, Ford's Australian Car Production Line Ends

About 3.5 million Falcons, once Australians' most popular vehicle, have been built since 1960, but few have been exported. The Ford production line closes on Friday, October 7. The Everest and the Ranger are designed in Australia, but made overseas. For the blue-collar workers saying goodbye to their jobs, it will be a sombre day, and owners of locally made Falcons will now be driving collector's items. Read More

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Caelus Energy discovers 'significant' oil reservoir in Alaska

Caelus Energy discovers 'significant' oil reservoir in Alaska

In 2014 Caelus Energy Alaska closed on its $300 million purchase of Caelus Energy Alaska Smith Bay LLC, which made the discovery, from Pioneer Natural Resources Co. The site, located in the shallow waters of Smith Bay, southeast of Barrow - Alaska's northernmost city - could eventually deliver 200,000 barrels per day of "highly mobile oil" into the trans-Alaska pipeline, according to a statement released by the company. Read More

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Petrol price hiked 14 paise a litre, diesel by 10 paise

Petrol price hiked 14 paise a litre, diesel by 10 paise

It said the movement of prices in the worldwide oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes. This marks the third hike in petrol prices in the last two months, while in the case of diesel, this is the second consecutive price cut. The cedi lost marginally against the USA dollar over the pricing-window by 0.40% according to data obtained from the Bank of Ghana. Read More

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Deutsche Bank CEO: Market forces trying to weaken us

Deutsche Bank CEO: Market forces trying to weaken us

A turnaround in financials drove the main US stock indexes higher near the close on Friday as German lender Deutsche Bank ( DB ) rose following a tumultuous week and energy shares rallied with higher oil futures. Deutsche Bank erased a drop of as much 9 percent to rise 5.8 percent after a report it is nearing a US$5.4 billion settlement with the US Department of Justice, lower than feared. Read More

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International Monetary Fund cuts Canada's growth forecast, blames the United States

International Monetary Fund cuts Canada's growth forecast, blames the United States

The fund's dimmer outlook for the US occurs even as the Federal Reserve is thought to be preparing to raise interest rates in December. But businesses are a problem - investment spending has now dropped for three consecutive quarters. The body has revised up its forecast for growth in 2016 from 1.7 per cent at the time of its last estimate in July, to 1.8 per cent. USA growth has been cut for this year but a recovery is expected to resume albeit at a weaker pace in 2017. Read More

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Trump says he will bolster cybersecurity

Trump says he will bolster cybersecurity

Hillary Clinton will try to capitalize on tumult in the Trump campaign Tuesday as she hunts for votes in the Philadelphia suburbs, while Donald Trump will shore up support in Arizona. Trump accused Clinton and her husband of profiting from their positions at The Clinton Foundation and her post as the State Department. Trump's campaign said Monday the comment was being misconstrued. Read More

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Indian police say gun battle has ended at Kashmir army camp

Indian police say gun battle has ended at Kashmir army camp

The spokesperson for Srinagar-based XV corps Col Rajesh Kalia said terrorists fired at an Army camp at Jabanzpora in Baramulla and the firing was still going on. "They should ideally have been killed, but they escaped due to darkness and ground conditions", the BSF officer said. Pakistani officials would only say that they " befittingly responded to Indian unprovoked firing , " while India has repeatedly presented the militant attacks as the work of the Pakistani government's proxies. Read More

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140km winds expected to slam into South Australia

Thirty nine DFES personnel, including SES volunteers from the Perth metropolitan area and the South West are being deployed to South Australia on Wednesday to assist with the severe weather and floods. Australian media are calling the storm among the worst in at least a half-century, if not longer. "What we've got with this event this afternoon is a trough approaching and we get a vigorous line of thunderstorms and rain", Mr Nairn said. Read More

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IL treasurer: State will suspend Wells Fargo business

Thousands of Wells Fargo employees signed a petition asking management to change its cutthroat quotas - but the leadership ignored the complaints , according to the latest lawsuit against the beleaguered bank. Aside from restitution to customers, Wells Fargo was also ordered to pay fines of $180 million - $100 million to the Consumer Financial Protection Bureau (CFPB ), $35 million to the Office of the Comptroller of the Currency, and $50 million to Los Angeles City and County. Read More

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$A lifts against US dollar

$A lifts against US dollar

Leaders of Germany's biggest companies rallied behind Deutsche Bank AG , saying in newspaper interviews that the lender now facing a hefty USA fine and a court fight in Italy is crucial for the country and its businesses in a globalized world. Read More

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Trump rented Manhattan office to Iranian bank with terror ties

Trump rented Manhattan office to Iranian bank with terror ties

A United States embargo in effect since 1995 forbade companies from doing business with Iranian banks, including accepting rent. Republican presidential nominee Donald Trump conducted business with an Iranian bank later linked to terrorism and Iran's nuclear program, NBC News reported Monday, quoting an investigation by the International Consortium of Investigative Journalists . Read More

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Michelle Obama says America 'needs an adult' in White House

Michelle Obama says America 'needs an adult' in White House

President Obama, First Lady Michelle Obama, former President Bill Clinton , and Vice President Joe Biden have been campaigning for Clinton across the country. "When making life-or-death, war-or-peace decisions, a President can't just pop off or lash out irrationally", she said on behalf of the Democratic presidential nominee at LaSalle University in Philadelphia. Read More

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