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Congress passes U.S. spending bill to end 40-year-old oil export ban

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Congress passed a US$1.1-trillion spending measure that averts a U.S. government shutdown and ends a 40-year-old ban on crude oil exports, a plan that ensures fiscal peace in Congress through most of 2016. The Senate passed the bill 65-33 on Friday, shortly after a 316-113 House vote. The legislation, which …

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Nestle commits to using only cage-free eggs in U.S. by 2020

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NEW YORK — Nestle SA said on Tuesday it will stop using eggs laid by caged hens in its U.S. products by 2020, making it the largest packaged food company to go cage-free amid pressure from consumers and animal-rights groups. The world’s largest food maker said it uses about 20 …

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Suncor Energy Inc’s bid for Canadian Oil Sands Ltd pits CEO’s pledge to deliver against poor record

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As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.’s $4.33 billion bid, the latest upset at its only business couldn’t have come at a worse time. Billionaire investor Seymour Shulich says he would support a sweetened offer for Canadian Oil Sands The most outspoken opponent of Suncor …

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How to make $1,000 a month extra income without the hassle of being a landlord

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Some investors buy properties and rent them out to receive rental income. Those properties require a huge amount of capital up front. By investing in real estate investment trusts (REITs) instead, investors can invest a small amount and still receive a juicy monthly income. Additionally, a professional management team takes …

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Valeant Pharmaceuticals International Inc. executive team to take helm after CEO J. Michael Pearson hospitalized with severe pneumonia

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Valeant Pharmaceuticals International Inc., facing unprecedented scrutiny for its drug pricing and distribution policies, was under more pressure over the Christmas holiday after its CEO was sent to hospital with what the company called “a severe case of pneumonia.” J. Michael Pearson’s condition has been unknown since Friday, when the …

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Activist shareholders target Dominion Diamond

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Dominion Diamond Corp. is officially in play as the miner is being targeted by an activist shareholder group and is reportedly studying a potential sale. The stock jumped 22 per cent to $14.01 on Tuesday as investors absorbed the news. It is still down 33 per cent on the year. …

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Why Delta’s great deal on a Boeing 777 may not point to a ‘huge bubble’ in aircraft

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The CEO of Delta Air Lines Inc. made waves in the aviation industry shortly before Christmas when he said he had signed a letter of intent to buy a used Boeing 777 for just US$7.7 million — a 97 per cent discount from the list price of a new one. …

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Where did the potential buyers of Canadian Oil Sands disappear to?

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Unless something dramatic happens between now and Friday, Suncor’s planned, albeit hostile, acquisition of Canadian Oil Sands is expected to play out as anticipated. While shareholders may not like the all-paper offer, they will support the transaction because the alternative of owning an independent company that trades lower – is …

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Tough times, rising costs have chewed up 25% of Canada’s small investment firms: IIAC

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TORONTO — Restructuring and consolidation in a tough economy and escalating regulatory costs have led to the disappearance or reconstitution of a full 25 per cent of investment firms in Canada during the past three years, according to the Investment Industry Association of Canada. More than 50 boutique firms are gone, …

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Canadian crude — the world’s cheapest oil — falls to record low as slump deepens

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A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more production coming offline. Spot prices for Western Canadian Select fell to US$19.81 a barrel on Wednesday, the lowest since tracking …

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