The U.S. Securities and Exchange Commission will extend a prohibition on short-sales of financial stocks, keeping restrictions on bets against companies’ shares in place while Congress works on a US$700-billion bailout plan.
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Rio Tinto Group, battling a US$101-billion takeover bid from BHP Billiton Ltd., expects metals prices to be higher than the historical during 2009, easing concern turmoil in financial markets will slow demand. “Demand from China will continue to be robust,” said Rio’s CEO, Tom Albanese.
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The Canadian dollar fell hard against the U.S. dollar on Thursday, with the greenback making swift gains on European Central Bank president Jean-Claude Trichet’s comments on risks to the euro zone economy.
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First-time applications for U.S. jobless benefits rose to the highest level in seven years as more Americans were thrown out of work in the aftermath of the Gulf Coast hurricanes and employers cut staff to meet slowing demand.
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Top automakers including General Motors and Ford warned of tough times as the Paris Auto Show opened on Thursday amid concerns that slowing demand could force production cuts and job losses.
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VANCOUVER - Steamship lines, steel mills, grain exporters and
even the oil sands are bracing for a potentially serious rupture in
Canada’s transportation network as workers on the St. Lawrence
Seaway near a critical strike deadline.
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Getting an endorsement from Warren Buffett doesn’t come cheap these days.
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The U.S. is likely headed for a deep recession, the International Monetary Fund warned Thursday in a report in which it notes that the current banking crisis is the type that’s most likely to lead to such a downturn, and suggesting the government’s proposed bailout of the banking system is the right course of action.
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Shares in Toronto fell more than 500 points on Thursday morning led lower by commodity and energy stocks as concerns over a global recession grow.
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Wall Street JournalLipton tea is recalled in Asia over tainted milkMinneapolis Star Tribune, MN - Sep 30, 2008Ltd. South Korea's Food and Drug Administration said it had been found in Nabisco Ritz cracker cheese sandwiches and in rice crackers made by Danyang Day …Video: Tainted Milk Scandal Leads to Chocolate Recall AssociatedPressCadbury recalls 11 of its products made in China Khabrein.infoCadbury the latest global firm caught up in China milk scandal CBC.caNew Straits Times - Manila Standard Todayall 2,897 news articles
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