John Stephenson News
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British Columbia’s provincial election threatens to stymie efforts by Canadian Natural Resources Ltd. and other Alberta oil-sands companies to sell crude to Pacific markets.
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Athabasca Oil Corp. is poised to rebound from a record low after a Canadian aboriginal group that has opposed an oil-sands project with PetroChina Co. signaled the impasse can be overcome.
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Investors are dumping gold funds at the fastest pace in two years in favor of equities, compounding a slump that has wiped $560 billion from the value of central bank reserves.
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Canada’s raw-materials stocks are forecast to extend their longest losing streak in more than 20 years, as companies such as Banro Corp. and Teck Resources Ltd. struggle with falling metals prices and concern China’s growth will slow.
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Lord’s cricket ground in London will be able to use floodlights for another five years until 2019 after getting planning permission from the local council.
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Encana Corp. is poised to attract suitors after the departure of its chief executive officer, whose bet on natural gas wiped out a third of the Canadian explorer’s value.
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Corn, silver and rubber tumbled into bear markets, joining slumps in commodities such as sugar and wheat, on signs that expanding supplies will outpace demand amid increasing concern that global growth will falter.
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Global stocks beat all other investments for a second quarter, the first back-to-back outperformance since 2009, as accelerating economic growth pushed equities past commodities, bonds and the dollar.
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Nine months after a U.S. drought sparked a surge in global crop prices, corn has joined soybeans and wheat in a bear-market slump as demand slows and farmers prepare to boost output in 2013.
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The appointment of Hal Kvisle as chief executive officer of Talisman Energy Inc. signals sales of assets or even the whole company to an Asian buyer after its shares declined twice as much as Canada’s benchmark index in the past five years.
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