August 21st, 2018

Business

Chinese ambassador hopes to speed trade talks with Canada amid protectionism

By The Canadian Press on August 20th, 2018

TORONTO – China’s ambassador to Canada says his country hopes to speed up bilateral trade talks amid a rise of protectionism. Lu Shaye, speaking through a translator, says he hopes to make progress on a free trade agreement with Canada but that there has been little progress on some issues. Canada has pushed for a ... Read More »

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PepsiCo buys SodaStream for $3.2 billion

By Aron Heller, The Associated Press on August 20th, 2018

JERUSALEM – PepsiCo bought carbonated drink maker SodaStream for $3.2 billion on Monday, a move the beverage giant hopes will further help it adjust as consumers drink less traditional soda and opt more for flavoured waters and other drinks. The deal is also a boon to SodaStream, which has enjoyed a resurgence after being targeted ... Read More »

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Venezuela nervously await dramatic economic reforms

By Scott Smith, The Associated Press on August 20th, 2018

CARACAS, Venezuela – Venezuela on Monday began to launch dramatic reforms announced by President Nicolas Maduro to rescue a downward-spiraling economy, including a new currency and a more-than-3,000 per cent hike in the minimum wage. The changes start with the introduction of a currency that lops five zeros off the country’s fast-depreciating bills. Maduro says ... Read More »

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Iran oil minister: French oil giant Total pulls out of Iran

By Nasser Karimi, The Associated Press on August 20th, 2018

TEHRAN, Iran – Iran’s oil minister said on Monday that France’s oil giant Total SA has officially pulled out of Iran after cancelling its $5 billion, 20-year agreement to develop the country’s massive South Pars offshore natural gas field over renewed U.S. sanctions. The parliament’s website ICANA.ir quoted Oil Minister Bijan Zanganeh as saying that ... Read More »

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Greeks see little cause for joy as 8-year bailout era ends

By Nicholas Paphitis, The Associated Press on August 20th, 2018

ATHENS, Greece – There’ll be no dancing in the moonlit streets of Athens. For all the official pronouncements that Greece’s eight-year crisis will be over as its third and last bailout program ends Monday, few Greeks see cause for celebration. Undeniably, the economy is once again growing modestly, state finances are improving, exports are up ... Read More »

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Venezuelans nervously await dramatic economic reforms

By Scott Smith, The Associated Press on August 20th, 2018

CARACAS, Venezuela – Venezuelan shopkeepers and consumers nervously awaited the launch of dramatic reforms announced by President Nicolas Maduro to rescue a downward-spiraling economy, including a new currency and a more-than-3,000 per cent hike in the minimum wage. The changes start to kick in Monday with the introduction of a currency that lops five zeros ... Read More »

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US firms to Trump: Don’t raise tariffs on more Chinese goods

By Paul Wiseman, The Associated Press on August 20th, 2018

WASHINGTON – Fishermen off the Alaskan coast. A Florida maker of boat trailers. A building materials distributor in Tennessee. Those and hundreds of other American businesses are delivering the same plea to President Donald Trump as he considers imposing tariffs on nearly 40 per cent of imported Chinese goods: Don’t do it. The Trump administration ... Read More »

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PepsiCo buys Israel’s SodaStream for $3.2 billion

By The Associated Press on August 20th, 2018

JERUSALEM – Beverage giant PepsiCo on Monday purchased Israel’s fizzy drink maker SodaStream for $3.2 billion, a boon for a company that has enjoyed a resurgence after being targeted by anti-Israel boycotters in the past. PepsiCo said it was acquiring all SodaStream’s outstanding shares at $144 per share, a 32 per cent premium to the ... Read More »

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Iran oil minister: French oil giant Total pulls out if Iran

By Nasser Karimi, The Associated Press on August 20th, 2018

TEHRAN, Iran – Iran’s oil minister said on Monday that France’s oil giant Total SA has officially pulled out of Iran after cancelling its $5 billion, 20-year agreement to develop the country’s massive South Pars offshore natural gas field over renewed U.S. sanctions. The parliament’s website ICANA.ir quoted Oil Minister Bijan Zanganeh as saying that ... Read More »

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Iran oil minister: Frances oil giant Total pulls out if Iran

By The Associated Press on August 20th, 2018

TEHRAN, Iran – Iran’s oil minister says France’s oil giant Total SA has pulled out of Iran after cancelling its $5 billion, 20-year agreement to develop the country’s massive South Pars offshore natural gas field over renewed U.S. sanctions. The parliament’s website ICANA.ir quoted Oil Minister Bijan Zanganeh as saying on Monday that since Total ... Read More »

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Canadian banks to report strong quarter amid housing stability, interest rate hikes

By Armina Ligaya, The Canadian Press on August 20th, 2018

TORONTO – Canada’s biggest banks are expected to report yet another strong quarter as the country’s housing market shows signs of stability and rising interest rates add to their bottom line. Royal Bank of Canada is the first lender to report its fiscal third-quarter results on Wednesday, and most analysts are expecting “solid” growth across ... Read More »

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