Research Department News
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Updated 8 minutes ago
Tuba player Andrew Schwartz quit the Manhattan School of Music in 2011 when he saw opportunities shrinking and orchestras struggling. After a series of low-paid jobs such as selling stocks by phone, he left the workforce in August to pursue a master’s degree in business administration.
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Vietnamese stocks advanced the most in Asia, with the benchmark index closing at the highest level in more than five weeks, after a drop in consumer prices in the two biggest cities signaled inflation may slow nationwide.
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Japan’s copper wire and cable shipments fell 2.9 percent in April from a year earlier, slumping for a fifth month on subdued demand even after the country’s economy expanded the most in a year last quarter.
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Stephen Poloz’s appointment as head of the Bank of Canada may signal a weaker currency and lower borrowing costs as the world’s 11th-largest economy looks to exports to revive growth.
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The Canadian dollar fell against its U.S. counterpart after Stephen Poloz, head of the nation’s export-financing agency, was named to lead the Bank of Canada amid concern he may be more amenable to easier monetary policy than the official he will succeed.
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Australia plans to toughen laws that allow overseas workers to plug short-term labor needs and skills shortages as some employers are exploiting the system, Immigration Minister Brendan O’Connor said.
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Finance Minister Jim Flaherty says he will soon name a replacement for Bank of Canada Governor Mark Carney, leaving the new candidate with no more than about a month to prepare for the job.
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AES Gener SA, Chile’s second- biggest power generator by revenue, rallied to a record after Banchile-Citi raised its price target, citing potential profit gains as the company starts operations at power plants.
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Prime Minister Benjamin Netanyahu’s shortlist to succeed Stanley Fischer as Bank of Israel head includes Deputy Governor Karnit Flug and Manuel Trajtenberg, one of the premier’s former economic advisers, said two people familiar with the appointment process.
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Canadian Finance Minister Jim Flaherty’s spokesman said there are no new developments today in the process of appointing a replacement for Bank of Canada Governor Mark Carney.
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