Bank of Canada keeps “over time” condition on rate hike

OTTAWA (Reuters) – Bank of Canada Deputy Governor Tim Lane repeated on Wednesday the central bank‘s message that interest rate increases will likely be needed, but only over time.The “over time” phrase was introduced in the bank’s key guidance in its rate statement on October 23 as a way of signaling that while the next rate move is likely to be up, such...

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TSX hits one-week high as RIM surges

TORONTO (Reuters) – Canada‘s main stock index hit a one-week high on Thursday as higher commodity prices boosted mining stocks and as Research In Motion Ltd shares jumped 11 percent on growing hopes for its new devices.The market was also supported by data that showed China’s manufacturing sector was picking up steam, a signal of increased demand for Canadian...

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Roche, under fire, offers compromise in flu drug row

LONDON (Reuters) – Roche has offered an olive branch to scientific critics in a bid to end a bitter row over blockbuster flu drug Tamiflu that has led to calls for a boycott of the Swiss drugmaker’s products.Tamiflu has been approved by regulators worldwide and stockpiled by many governments in case of a global outbreak – but some researchers claim there...

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Black Friday starts on Thursday right after Thanksgiving dinner

Black Friday is the Super Bowl of retail, but some of the nation's largest big-box stores can't wait until the day after Thanksgiving to open their doors to shoppers eager to grab great deals the same day as their turkey dinner.Traditional Black Friday door-busting deals now start tonight, on what's been dubbed Gray Thursday. Major retail stores such as Kmart, Toys R Us, Walmart and Sears will open...

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Greek PM presses for deal on loan

ATHENS, Greece (AP) — Greece has reacted with dismay to the European Union‘s failure to agree to release vital rescue loan funds for the debt-ridden country, with the prime minister warning it was not just Greece’s future that hangs in the balance.The delay prolongs uncertainty over the future of Greece, which faces a messy default that would threaten...

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Elmo left behind on ‘Sesame Street’ as actor exits

NEW YORK (AP) — Even on “Sesame Street,” where everything is famously A-OK, problems can arise for its residents.And that includes the Muppets. Cookie Monster grapples with an eating disorder. Oscar the Grouch gets cranky. Mr. Snuffleupagus gets the blues. But Elmo seemed immune to any of that. Since enjoying his breakout...

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Facebook proposes to end voting on privacy issues

NEW YORK (AP) — Facebook is proposing to end its practice of letting users vote on changes to its privacy policies. The company says it will continue to let users comment on proposed updates.The world’s biggest social media company plans to announce Wednesday that its voting mechanism, which is triggered only if enough people comment on proposed changes,...

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Positive Outlook Helps Seniors Heal

Older patients with positive attitudes on aging may be more likely to fully recover from severe disability compared with those who can’t see the bright side of life, a new study found.A positive stereotype about aging was associated with a 44 percent greater likelihood of recovery from severe disability versus negative stereotypes, according to study author...

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Hamas and Israel agree to ceasefire: Sources

GAZA/JERUSALEM (Reuters) - Israel and Hamas agreed on Wednesday to a ceasefire brokered by Egypt on the eighth day of intensive Israeli fire on the Gaza Strip and militant rocket attacks out of the enclave, Israeli, Palestinian and Egyptian sources said. First word of the truce came from a Palestinian official who has knowledge of the negotiations in Cairo, where U.S. Secretary of State...

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U.S. fiscal impact of great concern to Canada: Canada’s Harper

TORONTO (Reuters) – Any fiscal problems that would significantly slow the U.S. economy would be of great concern to Canada, Canadian Prime Minister Stephen Harper said on Monday.The United States needed a credible medium-term fiscal plan, Harper said at a business forum in Ottawa, adding that he was following the U.S. fiscal debate with “great interest.” (Reporting...

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