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Asanko Gold CEO claims Muddy Waters report uses outdated and dubious data

Muddy Waters is using outdated information and “dubious drone technology” as the basis for its decision to short Asanko Gold Inc.’s stock, with the sole goal of trying to make the shares worthless, the Canadian miner’s chief executive officer said. The activist short-seller Muddy Waters, founded by Carson Block, issued a report last week saying it was shorting Asanko, which …

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Boost in Canada’s borrowing cost unlikely

OTTAWA—The old debate about whether central banks should raise rates to counteract housing bubbles is finding new life in Canada as the country copes with runaway prices in its two biggest real estate markets. Home prices in Toronto are up 32 per cent over the past year and have more than doubled since the recession. In Vancouver, which is an …

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WestJet Pilots Vote to form Union

CALGARY—The Air Line Pilots Association, International says more than 1,400 WestJet pilots have voted 62 per cent in favour of forming the first union at Canada’s second-largest airline. The ALPA says that once the results are certified by the Canada Industrial Relations Board, it will be the exclusive bargaining agent for WestJet pilots. WestJet chief executive Gregg Saretsky said in …

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Amazon Leans into Tipping Point for Online Apparel

SEATTLE—If future anthropologists want to study the rubble of early-21st-century retail, a good place to start will be what Amazon.com did to apparel shopping in the few years before and after 2017. The outlook for physical retailers is grim, the sector roiled by store closings, layoffs and bankruptcies. This year, Amazon will surpass Macy’s, which last year announced it would …

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UPS Profit Slips in U.S Package Division

ATLANTA—United Parcel Service Inc. continued to struggle to get the most out of residential deliveries, as efficiency dropped in the key U.S. market. First-quarter operating profit slipped 2.4 per cent in the U.S. package division even as revenue rose 5 per cent from a year earlier, Atlanta-based UPS said in a statement Thursday. That signalled continued challenges in the company’s …

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The Body Shop Attracts Bids from 15 Firms

LONDON—L’Oreal SA drew bids from around 15 private equity firms and companies, including CVC Capital Partners, Carlyle Group LP and South Korea’s CJ Group, for its Body Shop division, said people familiar with the matter. Bidders for the next round will be shortlisted this week, the people said, asking not to be identified as the details aren’t public. BC Partners, …

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N.W.T. Premier Says Arctic Drilling Ban will Stifle Northern Energy Sector

CALGARY—The premier of the Northwest Territories is blasting federal policies including promises to restrict greenhouse gas emissions that he says will stifle a viable energy sector in the North. Bob McLeod told the Arctic Oil & Gas Symposium on Wednesday that a national carbon price and a five-year ban on drilling in the Arctic’s Beaufort Sea have created a “no-win …

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Fight Over Province’s Tomato Production Grows Ugly: Wells

And here Kathleen Wynne thought the Hydro file was her biggest headache. The premier should cast her gaze down toward the soon-to-be-sunny climes of Ontario’s tomato growing region while there’s still some slim chance a bloody red mess can be put right. The marketing board has been fired. A trustee has been named. Allegations of racial bias are flying. The …

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Waldorf Astoria Hotel Closing for Transformative Makeover

NEW YORK—The word “grand” matched few hotels in the world better than New York City’s Waldorf Astoria, but this bastion of gilded splendour is now closing for two to three years for a transformative makeover. The last guests were checking out by noon Wednesday after enjoying the rich Art Deco style of the old Waldorf one last time. When the …

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Trudeau is Striking Right Balance with U.S., China, Says Former Liberal PM Paul Martin

Canada should work to strengthen its ties with China and other countries while ensuring it maintains a good relationship with the United States, former prime minister Paul Martin said Tuesday. While Prime Minister Justin Trudeau has sought to deepen Canada’s ties to China, he’s also building a relationship with U.S. President Donald Trump who has taken an anti-China stance in …

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