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Rio Tinto suddenly has a pair of 60-year-old legal problems in Canada that miners worry will scare off investors


Rio Tinto Group has found trouble on both ends of Canada. The global mining giant is being told it can’t skirt a pair of lawsuits that reach back to projects built in the 1950s, a quarter-century before it first set foot in Canada. On a single day in October, the …

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From politics to Bay Street: first Ian Robertson and now Jenni Byrne


For the second time in the past year a former director for the losing Conservative Party campaign has moved to the financial world from the world of politics. On Friday Bayfield Strategy Inc., which defines itself as “a leading financial communications firm,” welcomed Jenni Byrne to its team. Byrne was …

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Finance Minister Bill Morneau says tax changes to take $1.2 billion more out of coffers


OTTAWA — The Liberal government is poised to make good on its promise to cut federal income taxes for middle earners by raising the rate on the richest Canadians — cuts that the government admits won’t be revenue-neutral. Finance Minister Bill Morneau is conceding for the first time that the …

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Be ready to buy gold equities: J.P. Morgan


Most analysts are cautious on gold these days, especially since the market anticipates a rate hike from the U.S. Federal Reserve next week. But there is some mild optimism seeping into the forecasts for 2016, including the one from J.P. Morgan analyst John Bridges, who pointed out that gold has …

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Bank of Canada willing to resort to below-zero interest rate in face of major economic crisis, Poloz says


TORONTO — The Bank of Canada would be willing to cut its benchmark interest rate to below zero per cent if the country is faced with a major economic shock, says Stephen Poloz, governor of the Bank of Canada. People in Sweden are hiding cash in their microwaves because of …

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Brent crude drops below $40 for first time in almost 7 years


Brent crude fell below US$40 a barrel for the first time in almost seven years after OPEC effectively abandoned any limits on crude output, prompting speculation that a record global glut will continue. Prices fell to the lowest since Feb. 20, 2009, dropping for a third day after the Organization …

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Lululemon Athletica Inc’s stock sinks 13% after profit falls on rising costs


Worries about Lululemon are dragging on the retailer’s shares after the athletic-wear company cut its revenue and profit expectations for the fiscal year and profit fell in the third quarter. Though chief executive Laurent Potdevin said quarterly results released Wednesday were in line with the company’s expectations and promised the …

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Husky Energy Inc to sell assets, cut Alberta spending to survive in oil’s ‘uncharted territory’


CALGARY — Husky Energy Inc. is considering the sale of part of its vast midstream business and will cut capital spending – particularly in Alberta – in 2016 to make itself more resilient in a low oil price environment. ‘OPEC is dead’: Cartel that once blackmailed nations now only able …

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Stock up on your maple syrup: El Nino could spell a bad year for sap


MONTREAL • A late spring caused Canada’s maple syrup production to fall for the second consecutive year in 2015 — and El Nino is threatening to put a dent in next spring’s output as well. The warmer El Nino weather is expected to have an impact on a number of …

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Six reasons OPEC’s oil market disarray looks like the 1990s slump all over again


OPEC has seemingly dropped any attempt at trying to fulfill its founding mission and manage the oil market, sending global benchmark Brent crude to a six-year low. For Saudi Arabia’s Ali al-Naimi, the most powerful and longest-serving of the group’s oil ministers, it may have seemed like history was repeating …

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