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Odds of Fed hike in December just jumped to 72% after massive U.S. jobs report


U.S. employment snapped back with a vengeance in October, wage growth accelerated and the jobless rate fell to 5 per cent, boosting the odds that Federal Reserve policy makers will raise borrowing costs next month. The 271,000 gain in payrolls was the biggest this year and exceeded all estimates in …

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Consumers will be winners in Trans-Pacific Partnership, full text reveals


OTTAWA — At long last, Canadians are getting a look — well, more like a peek — at the impact on consumers and companies of the Trans-Pacific Partnership agreement. So far, it looks like it could be more positive than negative. The text of the 12-nation trade deal, signed by Canada and the …

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Non-brokered private placement one of two surprises in $1.8B PrairieSky-Canadian Natural Resources transaction


There are at least two unusual elements in the $1.8 billion transaction announced Monday between Canadian Natural Resources and PrairieSky Royalty. In that transaction, PrairieSky will purchase Canadian Natural’s royalty business, a move that will unify “two of the largest fee simple mineral title and royalty positions in Western Canada …

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Quadrus to pay clients charged ‘excess fees’ a total of $8 million in compensation


As part of a rare “no contest” settlement with regulators, Quadrus Investment Services Ltd. will pay a total of $8 million in compensation to more than 3,000 clients and former clients who were charged “excess fees.” The Ontario Securities Commission approved the no-contest settlement Tuesday, following an investigation prompted by …

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Veritas’s $5.5-billion debt offering funding Carlyle takeover said to be pulled


A debt offering of US$5.5 billion funding Carlyle Group LP’s takeover of Symantec Corp.’s data-storage business has been postponed because of market conditions, according to two people with knowledge of the matter. The financing for Veritas, which includes bonds and loans, was being led by Bank of America Corp. and …

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More layoffs to come in drilling sector, as activity levels to remain low in 2016


CALGARY – Canada’s drilling industry is expected to post its worst year in more than three decades in 2016 with more layoffs and a record number of idled rigs. “We are predicting one of the lowest utilization rates of our equipment since we started collecting this information in 1977,” Canadian …

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How Saudi Arabia’s high-risk oil gambit could destroy OPEC while feeding the ISIL monster


LONDON – The rumblings of revolt against Saudi Arabia and the OPEC Gulf states are growing louder as half a trillion dollars goes up in smoke, and each month fails to bring about the long-awaited killer blow against U.S. shale. How OPEC has earned itself a permanent pay cut in …

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Marriott International scoops up rival Starwood in US$12.2B deal, boosting hotel room count by 50%


The biggest hotel chain in Canada just got bigger with the announcement that Marriott International has scooped up rival chain Starwood Hotels and Resorts Worldwide for US$12.2-billion. This isn’t the label you think it is: The secret shoppers might not know about factory outlets Most big brands, from J Crew …

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By next month, Ontario residents will be able to pick up a six-pack at Walmart


TORONTO — Ontarians may be able to buy beer at 60 grocery stores — from multinational big box stores to small, independent grocers — across the province by the end of the year. The Liberal government announced 13 grocery stores and chains that were chosen to sell beer in the …

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Rock Energy becomes the latest target of activist FrontFour Capital Group


About six weeks back at a conference on activist investing held in Toronto, Zac George, a portfolio manager at Connecticut-based FrontFour Capital, told the assembled guests that activism in the oil patch was set to increase. George noted that industry consolidation will be a “natural extension,” and that activity would …

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