Canada’s dollar touched the weakest level in more than two years against its U.S. peer as the central bank prepared to meet Dec. 4 amid bets it will be slower to reduce monetary stimulus than the Federal Reserve.
Qualcomm Inc., the largest maker of chips for smartphones, plans to return about 75 percent of free cash flow to investors in the form of dividends and buybacks, said Chief Executive Officer Paul Jacobs.
The Canadian dollar had the biggest two-day slump in four months after the central bank dropped language about the need for future interest-rate rises that had been in place for more than a year, as risks of a worsening economy increased.
The Canadian dollar fell for a second day as the ratio of Canadian household debt to disposable income rose to a record in the second quarter, signaling consumers may struggle to lead the economic recovery.
LyondellBasell Industries AF and units including Lyondell Chemical Co. won permission to reorganize and exit bankruptcy with $7.2 billion in debt and about $10 billion in equity value, after a judge overruled objections to an environmental settlement.