Canada News
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Pershing Square Capital Management LP, the $10 billion hedge fund run by William Ackman, has acquired the equivalent of a 12.2 percent stake in Canadian Pacific Railway Ltd. and may engage in talks with management.
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Canada’s dollar registered a fourth weekly advance in the longest streak of gains since March as a plan by Europe’s leaders to address the region’s debt crisis sparked demand for growth-sensitive assets.
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Oil fell in New York, paring its biggest weekly gain since March, as a drop in Japanese industrial output prompted traders to lock in profits from yesterday’s price surge.
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Copper traders and analysts are forecasting an end to the biggest weekly rally since at least 1986 on concern demand will slow in China while Europe’s lingering financial crisis limits growth.