Thursday, 27 Feb 2020

Business

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Teck drops C$20.6 billion oil sands Frontier project, to take writedown

TORONTO (Reuters) – Canadian miner Teck Resources Ltd has withdrawn an application to build its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, days before the federal government was to decide on whether to approve the project opposed by environmentalists and indigenous groups. Teck said on Sunday it would write down the C$1.13 […]

U.S. watchdog proposes national standard for disclosing expired debt

WASHINGTON (Reuters) – The U.S. consumer watchdog on Friday proposed establishing a national standard for how debt collectors must inform borrowers when they cannot be sued for expired debt. The proposed mandatory language would also inform borrowers about actions they could taken to legally revive so-called “time-barred” debt, the agency said. The CFPB measure, which […]

Stocks slip as coronavirus fears spur safe-haven buying

NEW YORK (Reuters) – Global equity markets slumped on Friday as the fast-spreading coronavirus drove investors into safe havens, with gold hitting a fresh seven-year high and the yield on the 30-year U.S. Treasury bond sliding to an all-time low. The virus spread to hundreds of people in Chinese prisons, contributing to a jump in […]

U.S. housing starts fall, building permits near 13-year high

WASHINGTON (Reuters) – U.S. homebuilding fell less than expected in January while permits surged to a near 13-year high, pointing to sustained housing market strength that could help keep the longest economic expansion in history on track. Other data on Wednesday showed producer prices increasing by the most in more than one year last month, […]

Qatar Airways ups holding in BA-owner IAG to 25.1% with new $600 million stake

LONDON/DUBAI (Reuters) – Qatar Airways has bought a $600 million stake in British Airways-owner IAG (ICAG.L) to increase its holding to 25.1%, advancing its strategy of building a global portfolio of international carriers. In an endorsement of the Anglo-Spanish group just weeks before its founder Willie Walsh steps down, Qatar said that increasing its stake […]

Stocks slide on Apple's virus warning, euro near three-year low

NEW YORK (Reuters) – Oil prices tumbled and global equity markets slid on Tuesday after Apple Inc said it was unlikely to meet its sales guidance because of the coronavirus outbreak in China, a warning highlighting the epidemic’s threat to global growth and corporate profits. China reported its fewest new coronavirus infections since January and […]