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Financial News

Bank of Canada Papers Say Debt Purchases May Disrupt Financial Markets Bank of Canada researchers said earlier this year that bond purchases by the central bank might disrupt financial markets, which may have shaped Governor Mark Carney’s decision not to match moves by U.S. and U.K. policy makers.

Canadian Currency Tumbles After U.S. Payroll Numbers Damp Risk Appetite Canada’s currency fell the most in almost two weeks after a report showed U.S. employers cut more jobs than forecast in June, lowering prospects for the country’s economic recovery and damping investors’ appetite for risk.

Canada Stocks Fall as U.S. Job Cuts Increase; Suncor Energy, Gerdau Slip Canadian stocks declined for a second day as energy producers fell after the U.S. reported more job losses than expected in June, increasing concern the recession in Canada’s largest trading partner will linger.

Onex, Yemendjian Acquire Control of Tropicana Las Vegas Casino and Hotel Onex Corp. and former MGM Mirage President Alex Yemenidjian have acquired a majority stake in the Tropicana Las Vegas Hotel and Casino as debt holders took ownership following its exit from bankruptcy yesterday.

Ivanhoe Soars on Outlook Rio Tinto Share Sale Will Boost Mongolia Project Ivanhoe Mines Ltd., developer of the Oyu Tolgoi copper and gold deposit in Mongolia, soared in Toronto on speculation that a share sale by its partner Rio Tinto Group boosts the likelihood the project will proceed.

Canada Proposed $4 Billion in Capital for Development Bank, Flaherty Says Canadian Finance Minister Jim Flaherty said today he offered the Inter-American Development Bank $4 billion in temporary callable capital.

Crude Oil Poised for Third Weekly Drop After U.S. Unemployment Increases Crude oil extended losses, poised for a third week of decline, after a U.S. report showed unemployment in the world’s largest energy-consuming nation last month rose to the highest in almost 26 years.

MFS's Shaughnessy Tops Utility Funds With NiSource, AES and El Paso Maura Shaughnessy, manager of the top-ranked utility mutual fund over the past five years, is beating rivals in 2009 because of bets on companies including NiSource Inc. and El Paso Corp. before markets rebounded.

General News

G-Resources, Backed by BlackRock, Seeking to Acquire Asian Gold Projects G-Resources Group Ltd., the Hong Kong-listed mining company backed by BlackRock Inc., is seeking to buy gold projects in Asia and Australia to lift annual output to 1 million ounces within five years.

Globe and Mail Talks With Union Continue in Bid to Avert Midnight Strike The Globe and Mail, Canada’s biggest national newspaper, and a union representing reporters and sales staff are in contract talks today to avert a strike that may begin as early as midnight Toronto time.

Marines Advance Into Taliban Stronghold in Offensive to Secure Afghanistan Thousands of U.S. Marines drove into a major Taliban opium-growing region, opening a phase of President Barack Obama’s strategy to secure Afghanistan.

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