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August 10, 2018 1:34 PM Turkey’s currency nosedives on economic concerns, U.S. dispute

Erdogan on Thursday portrayed the currency drop as a “campaign” to harm Turkey and called on the people not to worry. “If they have their dollar, we have the people, we have Allah,” he said. Last week, he called on Turks to convert their foreign currency and gold into Turkish lira to help the currency. Treasury and Finance Minister Berat Albayrak — who is Erdogan’s 11

August 9, 2018 4:22 PM TSX rises in widespread advance, Canadian dollar moves up

The Toronto Stock Exchange’s S&P/TSX composite index was up 89.82 points at 16,404.90 after 90 minutes of trading. Among the advances were information technology and the materials sector, including silver and gold producers. In New York, the Dow Jones industrial average was down 9.28 points at 25,574.47. The S&P 500 index was up 2.05 points at 2,859.75 and the Nasdaq 9

August 8, 2018 3:04 PM Saudi Arabia reportedly planning a sell-off of Canadian assets as diplomatic dispute intensifies

Saudi’s asset sales may not have a big impact on the Canadian currency, although seasonally thin trading in August could exacerbate that effect. Saudi holdings of Canadian dollar reserves are between $10 billion ($7.7 billion U.S.) and $25 billion, with the upper end of that estimate representing 10 per cent of daily Canadian dollar volumes, according 13

August 6, 2018 2:02 PM Iran lifts ban on currency exchanges as U.S. sanctions loom

The ban on the exchange offices, introduced in March, had left the offices idle overnight: gone were the familiar, daily long lines of Iranians waiting to buy or sell dollars. The measure also backfired, and the black market flourished. Hemmati said the government’s decision in April to enforce a single exchange rate to the dollar had caused “serious 13

August 3, 2018 3:58 PM Canada overcomes Trump’s metal tariffs with record exports

Exports rose 4.1 per cent to $50.7 billion, with energy shipments up 7.1 per cent to the highest since 2014 and aircraft sales jumping by almost 45 per cent. The return of several Canadian refineries to production after shutdowns also played a role in the 0.2 per cent decline in imports as demand for foreign gasoline tumbled. “Canadian trade was a large 15

August 1, 2018 5:56 PM Base metal miners, utilities lead Toronto index in broad retreat

Canada’s main stock index was down moderately this morning in a broad-based retreat led by base metal miners amid a falling copper price. The Toronto Stock Exchange’s S&P/TSX composite index was down 44.51 points at 16,389.50, after 90 minutes of trading. First Quantum Minerals and Canadian Utilities parent ATCO Ltd. were among the stocks to decline 11

July 31, 2018 7:56 PM Ontario government scraps basic income pilot project, limits welfare increase to 1.5 per cent

“They spent money the province didn’t have,” MacLeod said of Kathleen Wynne’s Liberal government, whose ill-fated budget projected a multi-billion dollar deficit this year. She described the 1.5 per cent increase as “compassionate” and said the basic income pilot program in three locations across the province as “quite expensive.” “It was certainly not going 8

July 30, 2018 1:10 PM Madonna to celebrate 60th birthday with Malawi fundraiser

The proceeds will benefit her Raising Malawi foundation, and global payments company Ripple said it would match all of the donations. “I have an unwavering commitment to providing vulnerable children with a loving home. For my birthday, I can think of no better gift than connecting my global family with this beautiful country and the children who need our help most,” Madonna 15

July 30, 2018 1:01 AM Canada to join Mexico, Japan, South Korea, EU in Geneva to talk auto tariffs

OTTAWA—Canada will join Mexico and other European and Asian auto-producing countries this week to plot strategy ahead of the potential imposition of tariffs on vehicles and auto parts exported to the United States. Japan and the European Union organized the meeting for Tuesday in Geneva, where vice and deputy ministers from Canada, the EU, Japan and South 14

July 26, 2018 4:03 PM TSX rises moderately in broad-based rally as loonie moves up slightly

The Toronto Stock Exchange’s S&P/TSX composite index was up 39.63 points to 16,460.39, after 90 minutes of trading, with Air Canada, Loblaw and Linamar among those showing advances. In New York, the Dow Jones industrial average was up 140.82 points to 25,554.92. The S&P 500 index was down 3.84 points to 2,842.23 and the Nasdaq composite index was down 59.16 points 13