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Tag Archives: growth

CIBC analysts reduce bank growth forecasts as oil, economy drag

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Low oil prices and continuing economic malaise are going to weigh on bank earnings more than expected, causing analysts at Canadian Imperial Bank of Commerce to reduce profit estimates. “We have bent our earnings estimates lower through our forecast period, with a more pronounced impact later in the year and …

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U.S. economic growth brakes sharply, rising only 0.7% as strong dollar weighs on exports

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WASHINGTON — U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 per cent annual rate, the Commerce Department said on Friday, also …

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The end of growth could mean the death of Davos Man

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Now that the 45th Davos World Economic Forum is behind us for another year, the question is: Does Davos even matter anymore? Getting 2,500 top business and political leaders together each January in a resort in Switzerland isn’t a bad idea if they can give us outsiders an idea of …

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U.S. job growth slows, unemployment rate at 8-year low

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WASHINGTON — U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but surging wages and an unemployment rate at an eight-year low suggested the labour market recovery remains firm. Nonfarm payrolls increased by 151,000 jobs last month and the unemployment …

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Wal-Mart abandons growth prediction as currency hampers foreign markets

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Wal-Mart Stores Inc., the world’s largest retailer, lowered its annual sales forecast after the strong dollar pulled down the value of overseas revenue. The company now expects net sales growth to be flat this year, compared with a previous forecast for growth as high as 4 per cent, according to …

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Canadian oil production growth could come to ‘complete standstill,’ IEA warns

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HOUSTON — Canadian oilsands growth is likely to come to a “standstill“ after the projects under construction come on stream as heightened environmental concerns, lack of pipeline access and policy changes slow investment, warned the International Energy Agency. As oilsands punished, tanker loads of cheap Saudi oil sail into Canadian …

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Bill Morneau to push long-term growth, middle-class tax cuts to G20 peers

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OTTAWA — Finance Minister Bill Morneau will use this week’s meeting of industrial nations to promote Canada’s economic blueprint as a possible path for improving growth and financial stability in other member countries. Morneau will join his G20 counterparts on the global stage during a two-day summit beginning Friday in …

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Canada still lagging behind U.S. growth, and at this point, we’re nowhere close to catching up

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OTTAWA — Divergence in North American economies shows little sign of narrowing.   While the U.S. economy performed better than expected in the final quarter of 2015, Canada’s output likely slowed due to the ongoing drag from low oil prices and weak business investment. On Friday, revised U.S. data showed that …

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U.S. Q4 GDP growth revised higher on strong inventory investment

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WASHINGTON — U.S. economic growth slowed in the fourth quarter, but not as sharply as initially thought, with businesses less aggressive in their efforts to reduce unwanted inventory, which could hurt output in the first three months of 2016. Gross domestic product increased at a 1.0 per cent annual rate …

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