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Updated: 4 years 27 weeks ago
Low rates, warming housing market - is it deja vu for Bank of Canada's Stephen Poloz?
Bank of Canada Governor Stephen Poloz looks ready to end his term where he began, setting interest rates near historic lows to support the broader economy at the risk of stoking higher prices in a housing market that is heating up.
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Russia's Aeroflot to suspend Hong Kong flights amid coronavirus fears: Interfax
Russia's state carrier Aeroflot said on Thursday it would suspend its flights to and from Hong Kong amid fears over coronavirus.
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Fragile safety net leaves U.S. economy vulnerable to coronavirus hit
((This March 4 story corrects attribution of survey cited in paragraph nine to Prudential Financial))
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3M taps regional suppliers to meet soaring demand for masks
Diversified manufacturer 3M Co has avoided major supply chain disruptions from the coronavirus outbreak by sourcing materials for its protective face masks from regional suppliers instead of far-flung locations, a company official told Reuters.
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Kazakhstan says OPEC+ countries yet to reach consensus on extension: TASS
Kazakhstan's Energy Minister Nurlan Nogayev said on Thursday that OPEC and non-OPEC oil exporters have not yet reached consensus on the parameters of an extension on their oil output deal, the TASS news agency reported.
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Top French court deals blow to Uber by giving driver 'employee' status
France's top court has recognized the right of an Uber driver to be considered an employee, a ruling that could upend the U.S. firm's business model and potentially require it to pay more taxes and benefits such as paid holidays.
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U.S. weekly jobless claims fall; labor market weathering coronavirus for now
The number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak, which has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
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U.S. fourth-quarter unit labor costs, productivity revised down
U.S. unit labor costs grew much slower than initially thought in the fourth quarter and were soft in 2019, suggesting inflation could remain tame despite tightening labor market conditions.
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U.S. factory orders fall more than expected in January
New orders for U.S.-made goods fell more than expected in January and could drop further as a worldwide coronavirus outbreak strains supply chains and undercuts the manufacturing sector, which had recently shown signs of stabilizing after a prolonged slump.
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Oil falls, OPEC backs deeper supply cuts
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.
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Lufthansa suspends 7,100 flights in March, including to Israel
German airline group Lufthansa said on Thursday it is cancelling about 7,100 flights up to the end of March due to lower demand and the spread of coronavirus.
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Wall Street sinks at open as coronavirus fears prompt California emergency
U.S. stock indexes opened sharply lower on Thursday as deaths from the coronavirus rose in the United States, forcing California to declare a state of emergency, while crippled travel demand hit airline stocks.
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Exxon CEO sticks to big spend plan despite weak stock performance
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Thursday it would stick to its plans to "lean in" to spending even as its shares have lagged its competitors, which are cutting costs.
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Wall Street to open sharply lower as virus fears shut down California
Wall Street was set for strong declines at the open on Thursday as the fast-spreading coronavirus led California to declare an emergency, while airline stocks were hammered by crippled travel demand.
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Exxon CEO sticks to spending targets as oil prices tumble
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Thursday it would stick to its plans to "lean in" to spending even as its rivals trim costs.
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Iranian oil minister confirms OPEC agreed a 1.5 million bpd cut
The Iranian oil minister confirmed on Thursday that OPEC ministers had agreed an extra 1.5 million barrel per day (bpd) cut in oil production and that Iran was still exempt from the reduction.
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Russia prepared for possible drop in oil prices, finance minister says
Russia is prepared for a possible drop in oil prices should OPEC and its allies fail to reach an agreement over cutting supply at meetings in Vienna this week, Finance Minister Anton Siluanov said on Thursday.
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Southwest Airlines sees first-quarter revenue hit from coronavirus outbreak
Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
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Transforming Britain's John Lewis could take five years, new boss warns
The new chairman of British retailer John Lewis warned on Thursday it could take up to five years to revive the employee-owned group hit by sliding profits, and that she would have to shut more shops.
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Futures plunge on virus fears as California declares emergency
Coronavirus fears looked set to drive another steep drop for U.S. stock markets on Thursday after California declared an emergency, while airlines shares were hammered by an industry sales warning as the outbreak cripples travel demand.
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