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Bearish Credit Suisse Forecasts Bank of Canada Rate Cut, Weak Loonie

Forecasts for a Bank of Canada interest-rate cut this year are building. Credit Suisse Group AG joined Citigroup Inc. and HSBC Holdings Plc in forecasting easier monetary policy, possibly as early as next month, amid sluggish Canadian growth and slower-than-expected inflation. The Swiss bank has penciled in a quarter-point cut to the central bank’s 0.5 per cent overnight target rate …

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Man Who Wrote Popular Oscar Mayer Wiener Jingle Dies

CHICAGO—The man who got generations of hotdog lovers humming along to the Oscar Mayer Wiener song has died. Richard Trentlage died Sept. 21 in Libertyville, Illinois, at 87, according to an obituary posted online by a northern Illinois funeral home. With the words, “Oh, I wish I were an Oscar Mayer wiener,” Trentlage helped solidify the company’s hotdogs as a …

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TSX, New York Markets Close Modestly Lower; Loonie Sees Tiny Gain

North American stock markets closed modestly in the red as positive economic data south of the border increased the odds that the U.S. Federal Reserve will hike interest rates before the end of the year. In Toronto, the S&P/TSX composite index was down 36.82 points at 14,689.04. The Dow Jones industrial average fell 54.30 points to 18,253.85, while the S&P …

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Unproven Competitiveness of Upstream Assets Would Hamper Rumoured Petronas Sale: Analyst

CALGARY • The Malaysian company rumoured to be seeking buyers for its Pacific NorthWest LNG project could struggle to offload its upstream natural gas assets due to the still-unproven competitiveness its operations, one analyst says. Rumours have been circulating that Petroliam Nasional Berhad, or Petronas, is looking for a way out of its massive investment in Canada’s nascent LNG space …

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BlackBerry Still a Big Hit in Indonesia

BlackBerry Ltd. may have decided to stop making its iconic handsets, but that doesn’t mean the gadgets will disappear, especially in places where they’re still popular. Case in point: an Indonesian wireless company is already hatching plans to introduce its own version of the keyboard-equipped smartphone for those who can’t live without the device. PT Tiphone Mobile Indonesia Tbk, an …

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Cost-cutting Helps Costco’s Bottom Line

Costco Wholesale Corp. reported fourth-quarter earnings that beat analysts’ estimates, even as falling grocery prices cut into its sales growth. Profit amounted to $1.77 (U.S.) a share in the period, which ended Aug. 28, the Issaquah, Washington-based company said in a statement. Analysts had estimated $1.73 a share, according to data compiled by Bloomberg. Costco has been working to control …

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TSX Ends Slightly Lower as U.S. Indexes Rally

Gold and materials stocks pushed the Toronto stock market to a slightly lower close, while south of the border markets rallied. The S&P/TSX composite index gave back 28.57 points to 14,725.98. The Canadian dollar was trading at 76.24 cents US, up 0.19 of a cent. In New York, the Dow Jones industrial average shot up 164.70 points to 18,308.15, the …

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Bearish Credit Suisse Forecasts Bank of Canada Rate Cut, Weak Loonie

Forecasts for a Bank of Canada interest-rate cut this year are building. Credit Suisse Group AG joined Citigroup Inc. and HSBC Holdings Plc in forecasting easier monetary policy, possibly as early as next month, amid sluggish Canadian growth and slower-than-expected inflation. The Swiss bank has penciled in a quarter-point cut to the central bank’s 0.5 per cent overnight target rate …

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OPEC Production Deal Greeted With Skepticism in Canada

Canada will certainly benefit if the world’s biggest oil producing countries move to restrict production, but skepticism exists on whether they will follow through on their promises. “Assuming they stick to it, and that’s a big if, it should support oil prices,” said Benjamin Reitzes, senior economist at BMO Capital Markets. “The competition producing a little less is always good.” …

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Pepsi Earnings Get Lift From Healthier Products

PepsiCo Inc.’s push into healthier fare is invigorating its sales. Products such as Sabra hummus and guacamole, Naked cold-press juices and Lipton Pure Leaf tea bolstered results last quarter, chief financial officer Hugh Johnston said. That helped the company beat profit estimates last quarter and raise its forecast for the year. The health kick is part of a makeover for …

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