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Tanzania’s squeeze on mining firms seems to be working as it gets $300 million in back taxes

Abdi Latif Dahir
Tanzania’s squeeze on mining firms seems to be working as it gets $300 million in back taxes

Tanzania’s government has struck a deal with Barrick Gold, following a dispute that saw the company’s African subsidiary taxed a jaw-dropping $190 billion in revised taxes, interests, and fines. The Toronto-based company said it will pay the government $300 million as part of the deal, give the government a 16% stake in its mines, and…

  • Target expands delivery, pickup options ahead of U.S. holiday season
    Finance
    Reuters

    Target expands delivery, pickup options ahead of U.S. holiday season

    Target had announced the shipping service in March for shoppers who spend over $35 or use a loyalty card. Target will also expand its Drive Up Service, where customers place orders online and have packages bought to their cars by the retailer's employees, to nearly 1,000 stores by the end of October

  • Finance
    The Canadian Press

    Fast Facts ahead of Tesla's earnings announcement Wednesday

    Shares of Tesla Inc. soared Tuesday, a day ahead of the company's third-quarter earnings release, after an investment firm that had long bet against the company's stock reversed its position and said it would invest in the electric car and solar panel maker for the long run. Tesla's stock

  • Ottawa to run bigger-than-expected deficits over coming years: budget watchdog
    Finance
    The Canadian Press

    Ottawa to run bigger-than-expected deficits over coming years: budget watchdog

    The federal government is on track to run slightly deeper deficits than it's been predicting for each of the next few years, says a new analysis released Tuesday by the parliamentary budget officer. The watchdog also estimates Ottawa has just a 10 per cent chance of balancing the federal books in

  • Wall St. ends down while oil tumbles on demand worries
    Finance
    Reuters

    Wall St. ends down while oil tumbles on demand worries

    Oil prices plunged about 5 percent to two-month lows as the equities sell-off raised worries about demand growth and Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of U.S. sanctions on Iran. Benchmark 10-year notes last rose 7/32 in price to yield 3.1676 percent

  • CN Rail tops profit estimates on higher crude shipments
    Finance
    Reuters

    CN Rail tops profit estimates on higher crude shipments

    (Reuters) - Canadian National Railway Co reported a better-than-expected third-quarter profit on Tuesday as the railroad shipped higher volumes of crude and grains. Railroads including CN Rail and Canadian Pacific have benefited from growing demand for transporting crude as rising production outstrips

  • The Latest: Trump says Saudi operation 'worst cover up ever'
    Finance
    The Canadian Press

    The Latest: Trump says Saudi operation 'worst cover up ever'

    Saudi Arabia has claimed Khashoggi, a writer for The Washington Post who wrote critically about Saudi Crown Prince Mohammed bin Salman, died accidentally in a brawl at the Saudi Consulate in Istanbul on Oct. 2.

  • TSX falls 0.83 percent
    Finance
    Reuters

    TSX falls 0.83 percent

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  • TSX partially rebounds from weak start as the oil prices dip to two-month low
    Finance
    The Canadian Press

    TSX partially rebounds from weak start as the oil prices dip to two-month low

    TORONTO — Canada's main stock index partially rebounded after falling to a six-month low in early trading, while oil prices closed at a two-month low.

  • Trudeau Imposes Carbon Tax, With Rebates, on Four Provinces
    Finance
    Bloomberg

    Trudeau Imposes Carbon Tax, With Rebates, on Four Provinces

    Trudeau announced a plan Tuesday to tax industrial emitters and fuels in holdout provinces. The baseline price on carbon will be C$20 per metric tonne initially, rising to C$50 by 2022. The plan will apply to Ontario, Saskatchewan, Manitoba and New Brunswick.

  • The Rolling Bear Market in U.S. Equities Is Getting Hard to Shake Off
    Finance
    Bloomberg

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    Finance
    The Canadian Press

    Coalition of consumer groups calls for new code of conduct for telecom sales

    Chow also disputed the claim that internal guidelines and rules issued by companies are effective in prohibiting misleading, aggressive and unsuitable sales — saying actual sales practices are at odds with the values expressed by management. "Whether this situation is due to the companies'

  • Finance
    The Canadian Press

    Capital One: 3Q Earnings Snapshot

    MCLEAN, Va. (AP) _ Capital One Financial Corp. (COF) on Tuesday reported third-quarter net income of $1.5 billion.

  • Tesla Skeptic Andrew Left Is Now Long on ‘Proven Hit’ Model 3
    Finance
    Bloomberg

    Tesla Skeptic Andrew Left Is Now Long on ‘Proven Hit’ Model 3

    Citron Research’s Andrew Left, a vocal and long-term Tesla short, said in a report Tuesday that the electric-car maker is snatching customers from BMW, Mercedes, Toyota and Honda. In a Bloomberg Television interview, he said Chief Executive Officer Elon Musk has distracted investors from a company that

  • Saudi crown prince proclaims investment conference despite boycott
    Finance
    Reuters

    Saudi crown prince proclaims investment conference despite boycott

    This year's Future Investment Initiative was overshadowed by the death of the Saudi journalist, a critic of Crown Prince Mohammed bin Salman, who vanished after he entered the country's consulate in Istanbul on Oct 2. A number of Western politicians and global business chiefs stayed away from

  • One-day Toronto strike has 'significant impact' on operations, says Canada Post
    Finance
    The Canadian Press

    One-day Toronto strike has 'significant impact' on operations, says Canada Post

    A 24-hour strike at two of Canada's busiest postal sorting plants Tuesday forced delays in shipments of tens of thousands of letters and parcels across the country as Canada Post employees stepped up pressure to back their contract demands. The one-day job action virtually shut down the Crown corporation

  • Stocks End Lower as Late Rally Falters; Bonds Gain: Markets Wrap
    Finance
    Bloomberg

    Stocks End Lower as Late Rally Falters; Bonds Gain: Markets Wrap

    Treasury yields declined and crude oil tumbled. The S&P 500 pared to 0.6 percent a loss that took it below 2,700 for the first time since July, while the Nasdaq Composite Index flirted with a correction before paring losses. Industrial stocks remained under pressure after disappointing results from

  • Mom and Pop Are Buying the Dip in Stocks While the Pros Stay Put
    Finance
    Bloomberg

    Mom and Pop Are Buying the Dip in Stocks While the Pros Stay Put

    For the third week in a row, individual investors bought stocks while institutional and hedge funds were net sellers, data on client flows compiled by Bank of America showed. Thanks to retail demand, equity buying by all the firm’s clients rose last week to the highest level since late May. Liz Ann

  • Stocks fall, marking twelfth down day out of 14 trading sessions
    Finance
    Yahoo Finance

    Stocks fall, marking twelfth down day out of 14 trading sessions

    US stocks began to recover from sharp intraday declines, but still posted losses at the end of regular trading Tuesday.

  • Why Hydro One (TSX:H) Belongs in Your Portfolio Right Now
    Finance
    The Motley Fool

    Why Hydro One (TSX:H) Belongs in Your Portfolio Right Now

    Hydro One Ltd (TSX:H) continues to offer investors incredible long-term growth prospects and a growing dividend, despite recent concerns raised by consumers and the Ontario government.

  • Short-seller Andrew Left is now long Tesla — but he's making a potentially disastrous mistake (TSLA)
    Finance
    Business Insider

    Short-seller Andrew Left is now long Tesla — but he's making a potentially disastrous mistake (TSLA)

    Former Tesla short Andrew Left has reversed on Tesla and is now long. Unfortunately, he's fallen prey to the erroneous thesis that Tesla is destroying its competition. There is no meaningful competition in the electric-vehicle market, which is globally tiny.

  • Twitter removes accounts linked to Alex Jones, Infowars
    Finance
    The Canadian Press

    Twitter removes accounts linked to Alex Jones, Infowars

    Twitter has removed some accounts thought to be used to circumvent a ban on conspiracy-monger Alex Jones and Infowars, the company said Tuesday. A Twitter spokesman confirmed that the accounts had been removed but provided no additional comment. It was also likely from the start that Jones and his

  • Oil Tumbles 4% as Saudis Pledge to Produce as Much as They Can
    Finance
    Bloomberg

    Oil Tumbles 4% as Saudis Pledge to Produce as Much as They Can

    Futures dropped 4.2 percent in New York. Saudi Arabia, the world’s biggest oil exporter, has boosted production to 10.7 million barrels a day and is nearing an all-time high. Oil stocks were caught up in Tuesday’s broad equities sell-off.

  • Finance
    Bloomberg

    AmEx Says DOJ, Regulators Probing Foreign-Exchange Business

    The company has received subpoenas from the civil and criminal divisions of the DOJ, and inquiries from overseers including the Federal Reserve, it said in a regulatory filing Tuesday. AmEx said it doesn’t expect the matter to have a “material adverse impact” on its business. The company said earlier

  • Americans who don't have a bank account at lowest level ever
    Finance
    The Canadian Press

    Americans who don't have a bank account at lowest level ever

    The percentage of Americans who do not have a bank account fell to a record low last year, the Federal Deposit Insurance Corp. said Tuesday, a sign that the economic fortunes of the country's most vulnerable people continues to improve. In 2017 approximately 6.5 per cent of U.S. households did not

  • Turkish Outrage Over Khashoggi Hints at Changing World Order
    Finance
    Bloomberg

    Turkish Outrage Over Khashoggi Hints at Changing World Order

    Any cover-up of the true authors of such a savage attack “would be an affront to humanity’s conscience,” Turkey’s President Recep Tayyip Erdogan told his parliamentary party on Tuesday. The contrast with U.S. President Donald Trump’s more tepid response -- Trump said Erdogan had been “pretty rough on