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TD Bank Hikes Rates for Longer Mortgages and Rental Properties

TORONTO—TD Bank is hiking rates for fixed mortgages with longer amortizations and all mortgages on rental properties. Effective Dec. 1, the lender is charging an additional 10 basis points to their overall rate for all new fixed amortizations of 25 years or more. That same day, all new mortgages on rental properties will have 25 basis points added to their …

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Donald Trump Nominates NAFTA Critic Wilbur Ross to Head U.S. Commerce Portfolio

WASHINGTON—A vocal critic of the North American Free Trade Agreement will be in charge of the U.S. commerce portfolio, with the nomination Wednesday of Wilbur Ross, a billionaire investor who condemns foreign sales taxes as a backdoor tariff on American goods. The 79-year-old investor in manufacturing companies helped write Donald Trump’s trade platform — which accused U.S. trading partners of …

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Airbnb Tightens Home Sharing Limits in London, Amsterdam

Airbnb Inc. has set an automatic limit to the number of nights hosts can rent out their homes, at a time when the platform faces increasing pressure from cities and governments. Hosts will now need a licence to rent their homes in London for more than 90 days a year, and for 60 days a year in Amsterdam, according to …

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Canada Loses 80,000 Working Days a Year Due to Sleep Deprivation

Ever wish your employer allowed daytime naps? Here’s some good ammunition to show the boss: a new study has found that a lack of sleep among Canada’s working population is costing the economy up to $21.4 billion (U.S.) a year — which is 1.35 per cent of the country’s gross domestic product (GDP). According to non-profit research group RAND Europe, …

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Robot Suitcases Coming to an Airport Near You

Who doesn’t want their own personal robot, especially one that follows you around and carries all your stuff? Travelmate, the self-moving suitcase slash “everyday robot companion” may be coming to an airport near you. A team of American robotics specialists from SMP Robotics came together just over a year ago to create this sci-fi travel buddy, which is programmed through …

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Kellogg Pulls Ads From Breitbart Amid hate-speech Concerns

NEW YORK CITY—Kellogg Co. is pulling its ads from the website Breitbart News, the right-wing news organization whose former chairman Steve Bannon was tapped as a top adviser to president-elect Donald Trump. Brands that advertise on Breitbart have drawn flak in recent weeks, with activists saying the website espouses racist and anti-Semitic views. A screen shot showing an advertisement for …

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Tentative OPEC Deal Could be Hampered by Saudi-Iran Rivalry

VIENNA—Up to this week, chances that OPEC countries would agree to their first cut in output in eight years were looking good. Now, not so much. Saudi Arabia is questioning the informal agreement made in September. And the desert kingdom, which accounts for about a third of OPEC’s output, normally prevails at ministerial meetings. The price of crude was down …

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Amazon Cracking Down on Fake Product Reviewers

Did you know that you can hire a company to write glowing recommendations about the products your business sells on Amazon.com, regardless of whether they bought them or not? You can. And, unfortunately, more than a few merchants use this deceitful tactic to bolster their products’ ratings. Not anymore, says Amazon. Just in time for the peak holiday buying season, …

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Canada’s Banking Watchdog Warns Lenders Face Big Losses if Housing Markets Turn

Recent increases in mortgage interest rates should be a wake-up call that lenders and borrowers should not be making decisions based on a short-term ability to repay, particularly given the risks created by high house prices and a long period of record low rates, Canada’s top banking regulator said Monday. “The recent uptick in mortgage interest rates should serve as …

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‘We Have no Other Tools’: CBC Asks Ottawa for More Than $300 Million in New Funding to go ad Free

The Canadian Broadcasting Corp. has submitted a proposal to the federal government requesting $318 million in additional funding in order to allow the public broadcaster to move to an ad-free model. Inspired by the British Broadcasting Corp., the CBC is also recommending that its funding level be “depoliticized” by tying its subsidy to its current five-year licence cycle, indexing it …

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