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U.S. stocks strengthen on earnings, shutdown deal optimism

U.S. stocks strengthen on earnings, shutdown deal optimism

President Donald Trump on Jan. 25 announces a deal to temporarily reopen the government.Evan Vucci / Associated Press Stocks rose as corporate earnings bolstered confidence in the economy and President Donald Trump said U.S. lawmakers agreed to re-open the government on an interim basis. Treasuries yields rose and the dollar weakened against most of its

Gucci owner owes Italy $1.6 billion in back taxes, audit finds

Italian authorities opened a probe into the Gucci owner's taxes in 2017.Alex Ogle/AFP Kering SA, the French owner of the Gucci luxury brand, owes about 1.4 billion euros (US$1.6 billion) to Italy in back taxes, according to the conclusions of a government audit. The probe scrutinized business activities by Kering’s Swiss subsidiary, Luxury Goods International,

Metro hikes dividend, reports sales up from year ago

Metro Inc. raised its dividend as it reported a first-quarter profit of $203.1 million.Canadian Press/Paul Chiasson / THE CANADIAN PRESS MONTREAL — Metro Inc. raised its dividend as it reported a first-quarter profit of $203.1 million. The grocery and drug store company says it will pay a quarterly dividend of 20 cents per share, up

Adoption of digital IDs would help unlock Canada’s economy, bankers say

The Canadian flag blows in the wind in the heart of the financial district in Toronto.Tijana Martin/The Canadian Press Canada needs to embrace digital identification to “unlock the full potential” of banking and the economy, Canadian Bankers Association Chief Executive Officer Neil Parmenter said. “We should be open to innovative identity verification methods like document

Alexandria Ocasio-Cortez, other progressives poised to join panel overseeing Wall Street, sources say

U.S. Representative Alexandria Ocasio-Cortez will almost certainly join the House Financial Services Committee, sources say.Saul Loeb/AFP Wall Street, get ready for a lot more scrutiny from U.S. Representative Alexandria Ocasio-Cortez. The New York lawmaker, who has become a sensation among progressives, will almost certainly join the House Financial Services Committee after a group of fellow

Goldman says rich people will drag down the U.S. economy this year

The share of personal consumption expenditures spent on jewelry is "highly correlated with moves in the stock market," Goldman Sachs economist wrote in a Jan. 15 report.Victor J. Blue/Bloomberg files The stock-market sell-off is going to be a significant drag on the U.S. economy this year as wealthy households feel its impact, according to Goldman

RBC cuts 5-year fixed mortgage rate, other banks expected to follow

After a fall in five-year bond yields, RBC cut its advertised five-year fixed mortgage rate.Nathan Denette / THE CANADIAN PRESS Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent. Mortgage rate comparison website founder Robert McLister says RBC is the first

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