Canada News
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Canada’s dollar dropped for a third straight week in the longest stretch of losses since June as concern the global economy is slowing encouraged demand for the greenback as a refuge.
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Lundin Mining Corp., which lost almost half its value after spurning two takeover bids, now needs an acquirer willing to pay the biggest premium for a diversified minerals deal to make shareholders whole again.
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Global financial strains, government fiscal austerity and a lack of jobs will hurt U.S. growth over the next couple of years, according to economists surveyed this month by Bloomberg News.
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Gold futures for December delivery fell $20, or 1.1 percent, to $1,731.50 an ounce at 10:39 a.m. on the Comex in New York. Earlier, the metal gained as much as 1.1 percent. Yesterday, the price rose to a record $1,817.60.
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