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Alcoa to Split Into two Separate Companies, Report

Alcoa to Split Into two Separate Companies, Report

Alcoa said on Monday it will split into two companies to separate its struggling aluminum smelting operations from production of lightweight metals for its faster-growing aerospace and automotive business. Shares of Alcoa, down 43 per cent this year, gained 4.7 per cent to $US9.50 a share in premarket trading. Alcoa said its upstream company, which will keep the Alcoa name, ... Read More »

TransCanada Will Cut 20 percent Of Senior Management Jobs

TransCanada Will Cut 20 percent Of Senior Management Jobs

TransCanada Corp. is cutting 20 per cent of its senior leadership positions, and the pipeline firm says there will be more job losses to come because of low world oil prices and the “current environment.” “As we signalled in June, TransCanada is introducing changes to our structure to ensure we remain competitive and deliver shareholder value as we continue to ... Read More »

Canadian Inflation Rate Held at 1.3 per cent in August, Report

Canadian Inflation Rate Held at 1.3 per cent in August, Report

Canada’s annual inflation rate remained at 1.3 per cent in August as lower energy prices continued to keep a lid on the overall cost of living, Statistics Canada reported Friday. Prices advanced in most categories, led by a 3.6% y/y increase in food prices. Meat (+6.3% y/y) continues to be the key driver behind the rise in food prices, although ... Read More »

Blue Moon diamond tipped for auction record ‘Video’

'Blue Moon' diamond tipped for auction record (Video)

A blue moon diamond weighing 12.03 carats and described by experts as internally flawless could sell for a record $55 million when it goes up for auction in Geneva in several weeks, Sotheby’s said on Thursday. The Blue Moon diamond, discovered in South Africa in January last year, has been described by experts as internally flawless and will be exhibited ... Read More »

Canadian Household Debt Levels Hit Record High, StatsCan reports

Canadian Household Debt Levels Hit Record High, StatsCan reports

A key indicator of household debt hit a record high in the second quarter of 2015 as lower mortgage rates drove increased borrowing, Statistics Canada figures show. The ratio of household credit market debt to disposable income rose from 163% in Q1 to 164.6% in Q2. This means that for every dollar of disposable income households brought in, they owed ... Read More »