Newspaper article The Canadian Press

Prep-Business Report

Newspaper article The Canadian Press

Prep-Business Report

Article excerpt

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(Markets)

Investors are hoping for a better week after Canada's main stock index closed at a two-year low Friday amid concerns about a slowing Chinese economy.

The S&P/TSX composite index lost 155 points to 14,595 the lowest closing price since November of 2016

American markets also ended the week on a bleak note, with shares at eight-month lows.

The Dow Jones industrial average plunged 497 points at 24,101.

The S&P 500 index slipped 50 points at 2,600, while the Nasdaq composite dropped 160 points at 6,911.

In Tokyo, the Nikkei index gained 132 points to 21,507.

Hong Kong's Hang Seng index is up 22 points to 26,117.

Our dollar is trading overseas this morning at 74.73 cents U-S, virtually unchanged from Friday's close of 74.74 cents U-S. (The Canadian Press)

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(World Markets)

Asian markets rose on hopes the U-S Federal Reserve will re-evaluate its hawkish stance at a meeting later this week, following signs of slower global growth.

Shares were higher in Taiwan and Singapore but fell in Indonesia.

South Korea's Kospi was up 0.10 per cent to 2,071.

The Shanghai Composite Index gained 0.16 per cent to 2,598.

Australia's S&P/ASX 200 climbed one per cent to 5,658. (The Associated Press)

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(YEAR-Business-News-Story)

Canada's legalization of recreational marijuana was the overwhelming choice for The Canadian Press Business News Story of the Year.

The annual poll of Canada's newsrooms saw cannabis legalization take 60 per cent of the votes cast, followed by the negotiations for a new North American Free Trade Agreement with 30 per cent and pipelines in third with 10 per cent.

On October 17th, Canada became the second country in the world to legalize cannabis for adult use, after Uruguay. (The Canadian Press)

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(NL-Offshore-Oil)

There are renewed calls for regulatory reform in Newfoundland and Labrador's growing offshore oil industry after the province's largest ever oil spill. …

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