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canada Economy national security Top News United States 

Canada prime minister says steel exports not U.S. security threat

June 22, 2017 OTTAWA (Reuters) – Prime Minister Justin Trudeau on Thursday dismissed the idea that Canadian steel exports posed a national security threat to the United States and expressed confidence Canada would escape any punitive measures. The U.S. administration of President Donald Trump is probing whether foreign-made steel imports pose a risk. The investigation is almost complete, officials say. Trudeau told a public event in Toronto it was “just silly” to imagine Canadian exports were a threat to the United States, given how closely the two nations’ militaries and…

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AOMORI Economy Japan rates Top News United States 

BOJ’s Iwata sees no need to raise rates now as economy needs support

June 22, 2017 By Leika Kihara AOMORI, Japan (Reuters) – Bank of Japan Deputy Governor Kikuo Iwata on Thursday dismissed the need to raise interest rates any time soon, stressing that the economy still needs support from “powerful” monetary easing with inflation distant from the central bank’s 2 percent target. Japan’s low inflation expectations mean its short-term real interest rate, which is calculated by subtracting inflation expectations from nominal interest rates, remains higher than that of the United States, Iwata said. The BOJ must therefore maintain its massive stimulus program,…

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Business debt Exclusive Sycamore Partners Lauren Hirsch United States 

Exclusive: Sycamore Partners close to deal to acquire Staples – sources

June 22, 2017 By Greg Roumeliotis and Lauren Hirsch (Reuters) – Private equity firm Sycamore Partners is in advanced talks to acquire Staples Inc following an auction for the U.S. office supplies retailer, people familiar with the matter said on Wednesday, in a deal that could top $6 billion. The acquisition would come a year after a U.S. federal judge thwarted a merger between Staples and peer Office Depot Inc on antitrust grounds. It would represent a bet by Sycamore that Staples could more quickly shift its business model from…

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Business Del Maguey Mexico United States 

Diageo to buy George Clooney’s tequila brand Casamigos for up to $1 billion

June 21, 2017 By Martinne Geller LONDON (Reuters) – Diageo Plc has agreed to buy George Clooney’s high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world’s largest spirits maker seeks to boost its presence in a high-growth market. Diageo said on Wednesday it would pay $700 million initially for the company, co-founded by the American actor, with potential payment of a further $300 million linked to performance over 10 years. The deal comes two weeks after Pernod Ricard took a stake in…

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Economy NAFTA security Top News Trade Representative Lighthizer United States 

U.S. Trade Representative Lighthizer says no deadline set for NAFTA deal

June 21, 2017 WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer said on Wednesday there was no deadline for completing NAFTA trade talks between the United States, Canada and Mexico even as lawmakers warned that U.S. business would be hurt by prolonged negotiations. “There is no deadline. My hope is that we can get it done by the end of the year, but there are a lot of people who think that is completely unrealistic,” Lighthizer told a Senate Finance Committee hearing to discuss the USTR’s budget. He said reaching…

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bank Business conference rates United States 

Fed policymakers in tug-of-war on inflation, instability

June 20, 2017 By Ann Saphir and Lindsay Dunsmuir SAN FRANCISCO/WASHINGTON (Reuters) – The outlook for inflation and the future of financial stability are emerging as dueling concerns at the heart of a debate at the U.S. central bank over how fast to proceed on future interest-rate hikes. That is a change from years past, where high unemployment was at the top of the Federal Reserve’s worry list for the U.S. economy. But with the U.S. unemployment rate now at 4.3 percent, most Fed officials are now convinced that nearly…

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canada Economy Georgia Mexico Top News United States 

NAFTA agriculture ministers see ‘few’ differences over trade

June 20, 2017 By Harriet McLeod GARDEN CITY, Ga. (Reuters) – The United States, Canada and Mexico have “relatively few” differences on agricultural trade, the three countries’ agriculture ministers said after meeting on Tuesday to discuss the renegotiation of the North American Free Trade Agreement. There are some “irritants” for each country, however, in the run-up to NAFTA renegotiations, U.S. Secretary of Agriculture Sonny Perdue told a joint news conference at the Port of Savannah, Georgia. “Now is not the time to talk about them. These are family discussions that…

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China Commerce Department Commerce Dept Economy Top News United States 

U.S. finds some China firms dumped hardwood plywood: Commerce Department

June 20, 2017 WASHINGTON (Reuters) – The U.S. Commerce Department said on Monday it had reached a preliminary determination that some Chinese companies are dumping hardwood plywoods in the United States, which imported an estimated $1.12 billion worth of the products from China in 2016. A Commerce Department investigation found that exporters from China had sold hardwood plywoods used for wall panels, kitchen cabinets, tabletops and flooring in the United States for as much as 114.72 percent below fair value, the department said in a statement. The department preliminarily set…

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ANZ Economy OPEC Russia Top News United States 

Oil prices edge up; still near 2017 lows on stubborn glut

June 16, 2017 By Julia Simon NEW YORK (Reuters) – Oil prices on Friday bounced up off the year’s lows as some producers reduced exports and U.S. rig additions slowed, but the rebound was modest and crude posted its fourth weekly decline on persistent concerns about global oversupply. Brent crude futures rose 45 cents to settle at $47.37 per barrel and U.S. West Texas Intermediate (WTI) crude settled at $44.74 per barrel, up 28 cents. Both benchmarks notched a weekly loss exceeding 1.6 percent. On Thursday, oil prices hit six-month…

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ANZ Economy OPEC Russia Top News United States 

Oil sits near half-year lows as global supply overhang weighs

June 16, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices dipped early on Friday and were not far off six-months lows as an ongoing supply overhang weighed on markets despite an OPEC-led effort to cut production and prop up prices. Brent crude futures were down 6 cents, or 0.1 percent, at $46.86 per barrel at 0045 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 8 cents, or 0.2 percent, at $44.38 per barrel. Prices for both benchmarks are down by more than 13 percent since late May,…

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