Bloomberg Canadian provinces have reached an agreement with the federal government to expand the Canada Pension Plan, adding new payroll taxes to boost benefits while fulfilling a key pledge made by Prime Minister Justin Trudeau in the 2015 election campaign. The expanded CPP is aimed at countering dwindling workplace pension access for younger generations pinched by a weak economy …

Bloomberg The real dropped after Federal Reserve Chair Janet Yellen signaled renewed doubts about the strength of the world’s largest economy, offsetting local optimism that Brazil’s government is making inroads toward cleaning up its fiscal house. The currency dropped 0.4 percent to 3.4083 per dollar at 5:10 p.m. in Sao Paulo, after earlier advancing as much as 1.2 percent following …

  Bloomberg Rio Tinto Group looks like it’s putting about $9 billion of unwanted assets from coal and uranium to Canadian iron ore into a single basket ready to spin off, according to Sanford C. Bernstein. Incoming Chief Executive Officer Jean-Sebastien Jacques on Tuesday revamped the four key divisions of the world’s second-biggest mine operator. The new Energy and Minerals …

  Bloomberg All Exxon Mobil Corp. had to do was run its Los Angeles-area refinery for 15 days before handing the keys to new owner PBF Energy Inc. That’s turning into a struggle. More than a month after Exxon restarted a key gasoline-making unit that was damaged in a blast last year, PBF still hasn’t taken control of the Torrance …

  Bloomberg FedEx Corp. forecast an annual profit in line with analysts’ projections, excluding any effect from its recently completed purchase of Dutch shipper TNT Express for $4.8 billion. Earnings for the fiscal year ending next May will be $11.75 to $12.25 a share, the operator of the world’s largest cargo airline said in a statement. The company said it …

  Hillary Clinton is trying to scare the heck out of voters who think Donald Trump’s business record qualifies him to be president. He has no real economic strategy beyond over-the-top promises, she said on Tuesday, and the few ideas he offers would cause millions of Americans to lose their jobs. “Just like he shouldn’t have his finger on the …

  Peter Bittner SPECIAL TO EMIRATES BUSINESS The Mongol Post, the newly-privatized national Mongolian mail carrier, plans to adopt a new and wildly innovative address system this summer in partnership with what3words, a U.K.-based tech company. Each address will be denoted by a three-word phrase representing a specific 9-square-meter GPS coordinate. Effective on August 1, the Mongol Post’s new nomenclature …

  Leonid Bershidsky Volkswagen made every effort to leave its diesel emissions scandal behind this week. It planned to announce a $10 billion deal with U.S. car owners and a fix for their cars, hold a general shareholders’ meeting on Wednesday and settle down to implement its new strategy, announced on June 16. VW’s management and top shareholders haven’t, however, …

  Bloomberg London home builders are counting on a weaker pound to tempt buyers back into the city’s beleaguered luxury-homes market if the U.K. votes to leave the European Union. “We have seen a lot of overseas interest and they are waiting until the result,” said Rob Perrins, chief executive officer of Berkeley Group Holdings Plc. “When you have got …

  Bloomberg Lennar Corp., the second-largest U.S. homebuilder, reported fiscal second-quarter earnings that beat analysts’ estimates as the improving job market helped boost sales. Net income for the three months through May was $218.5 million, or 95 cents a share, compared with $183 million, or 79 cents, a year earlier, the Miami-based company said in a statement on Tuesday. The …