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Canadian stocks climb for fifth consecutive week

Bloomberg Canadian stocks rose in Toronto, capping a fifth straight week of gains, the longest stretch in over a year. The S&P/TSX Composite index added 1.2%, with the health-care and technology sectors posting the biggest increases. Tech stocks have gained 25% this year, led by e-commerce company Shopify Inc.’s more than 75% surge. The e-commerce sector has been a favourite ...

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Russia signals big rate cuts after easing to six-year low

Bloomberg Bank of Russia Governor Elvira Nabiullina said another percentage point of interest rate cuts is possible as the economy heads into its worst economic slump in more than a decade. “Given the extraordinary development of events, adjusting monetary policy in small steps as we are used to may not be enough,” Nabiullina said after the central bank cut by ...

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UBS appeal in $4.9bn French tax case delayed

Bloomberg UBS Group AG appeal of a record 4.5 billion-euro ($4.9 billion) French fine for helping clients stash undeclared funds in offshore accounts was postponed over concerns related to coronavirus pandemic, according to people familiar with the case. Judges at the Paris Court of Appeals postponed the case, originally scheduled for June, due to the lockdown caused by the coronavirus, ...

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