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RBC offers customers double reward points and $20 off first ride with Uber

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RBC credit card holders will get $20 off their first ride with Uber and earn double the rewards points, if they sign up for the app-based car service with an eligible RBC card, Canada’s largest bank said Tuesday. Avion credit cardholders and other RBC Rewards members who are already Uber …

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Moody’s places Suncor, Husky and other Canadian energy players on review for downgrade

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CALGARY – The continued oil price rout has caused ratings agency Moody’s Investors Service to review the credit of seven Canadian oil and gas companies, possibly downgrading their debt. The companies with debts placed under review for downgrade Wednesday include some of the largest energy players in Calgary: Suncor Energy …

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Scotiabank said to weigh bid for Dominincan Republic’s Progreso

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Bank of Nova Scotia, Canada’s third-largest lender by assets, is weighing a bid for Dominican Republic’s Banco Dominicano del Progreso SA, according to people familiar with the matter. Progreso has held early-stage informal talks with Toronto-based Scotiabank, said the people, who asked not to be identified because the matter is …

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A bleaker Canadian economy may be lurking below recent data

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OTTAWA — On the surface, Canada’s economy is displaying signs of returning — albeit in small steps — to some form of normalcy. Inflation has been making a mild and slow comeback in Canada, warming up after a period of ultra-low price gains that characterized much of the past year, …

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Oil hits lowest since 2004 with Goldman Sachs predicting $20 crude before we’re done

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LONDON — Brent crude prices hit their lowest in over 11 years on Monday, hounded by a relentless rise in global supply that looks set to outpace demand again next year. Oil production is running close to record highs and, with more barrels poised to enter the market from the …

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RioCan Real Estate Investment Trust is selling 49 American shopping malls to Blackstone Group

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TORONTO — Canada’s largest real estate investment trust is selling off its U.S. portfolio and reaping close to $1 billion in profit with about half it coming from the sinking loonie. RioCan Real Estate Investment Trust said Friday it is selling its U.S. portfolio of 49 retail properties located in …

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Oil industry to lose 100,000 jobs by the end of 2015 as policy uncertainties, low prices decimate sector

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The oil and gas sector will see 100,000 job losses by the end of this year, including 40,000 direct jobs, as a combination of policy uncertainties and low crude oil prices decimates the sector, the head of the country’s oil and gas industry group says. Oilpatch survivors are suffering ‘burnout …

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Fission Uranium nears landmark $82-million investment from state-owned Chinese giant CGN Mining Company Ltd

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Fission Uranium Corp. is closing in on a landmark deal with a Chinese company that would represent China’s first direct investment into a Canadian uranium firm. ‘This one is special’: Fission Uranium’s monster resource estimate rekindles takeover chatter The monster resource estimate announced by Fission Uranium Corp. has boosted takeover …

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Valeant’s new CEO trio shows company has no clear successor while Michael Pearson on medical leave: analysts

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MONTREAL — Following a year of unpleasant surprises for Valeant Pharmaceuticals International Inc., on Monday the company announced chief executive Michael Pearson would take a leave of absence following his hospitalization last week with severe pneumonia. During his absence, Pearson’s duties will be split between three company executive vice-presidents. With few …

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Vermilion Energy Inc’s spending cuts praised by analysts

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Vermilion Energy Inc.’s decision to reduce its capex spending plans for 2016 to $285 million from a previous preliminary figure of $350 million is being welcomed by analysts, partly because it should shore up the Calgary-based oil and gas producer’s dividend. Macquarie analyst Chris Feltin noted that the company’s production …

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