U.S. employers shed jobs for a fifth straight month in May and the unemployment rate jumped to its highest in more than 3-1/2 years, partly because more people were trying to come back into the workforce, a Labor Department report on Friday showed.
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Oil rose by more than US$3 a barrel to above US$131 on Friday, bringing gains in the last two days to US$9 as the dollar weakened further on a jump in the jobless rate in the United States.
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The Toronto Stock Exchange’s main index was higher at midmorning on Friday but off the record it hit early in the day on surging prices for oil and other commodities.
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Canadian employment has risen again and unemployment held steady at 6.1% … The TSX surges to a record high … the Canadian Auto Workers Union may challenge GM’s decision and Wal-Mart eyes new Russian opportunities.
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Canadian Auto Workers president Buzz Hargrove said Friday he would continue fighting to save union jobs after General Motors Corp. refused to reverse a decision to close its Oshawa, Ont., truck plant in September 2009.
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General Motors Corp. said on Friday it was in very early discussions with the Canadian Auto Workers union about adding another model to its car plant in Oshawa, Ont., after deciding to close a nearby truck plant.
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Globalive Communications Corp., the highest bidder among new entrants in Canada’s wireless telephone auction, said the soaring prices for licences won’t slow its plans to build a national network.
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Economic data for the month of May had what one leading Canadian economist dubbed an “Alice in Wonderland feel,” showing job losses in western Canada and manufacturing gains in the centre of the country.
Canada’s unemployment rate held steady at 6.1% last month, Statistics Canada said on Friday. The economy added about 8,400 jobs, slightly less than what economists were expecting.
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Apple Inc. chief executive Steve Jobs may unveil an iPhone that works with faster wireless networks in a bid to lure business users from the BlackBerry and reach more international customers.
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Voice of AmericaRice Scientists Call for Increased Funding for Research to Boost CropsVoice of America - Jun 5, 2008But for several years, yields have been flat in Asia's major rice growing region. "This time around it's going to be much more complex," he said. …Don't panic over food National Postall 5 news articles
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