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Canadian Stocks Tumble After U.S. Inflation Data
Canadian stocks are down sharply in negative territory on Tuesday after hotter-than-expected U.S. inflation data raised speculation that the Fed will be aggressive with interest rate hike at the upcoming meeting.
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U.S. Consumer Prices Inch Higher In August, Annual Growth Slows Less Than Expected
A highly anticipated report released by the Labor Department on Tuesday showed an unexpected uptick in U.S. consumer prices in the month of August. The Labor Department said its consumer price index inched up by 0.1 percent in August after coming in unchanged in July. Economists had expected consumer prices to edge down by 0.1 percent.
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Geradin Partners To Bring Parallel Damages Actions In The UK And EU Against Google
Law firm Geradin Partners announced Tuesday that it will bring parallel damages actions in the UK and the Netherlands (covering the EEA) on behalf of publishers who have suffered harm from Alphabet Inc. (GOOG) unit Google's anti-competitive conduct in relation to ad tech.
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U.S. Consumer Prices Unexpectedly Inch Higher In August
A highly anticipated report released by the Labor Department on Tuesday showed an unexpected uptick in U.S. consumer prices in the month of August.
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BMW Group To Use Maritime Plastic Waste To Produce Visible Vehicle Trim Parts
German luxury carmaker BMW AG (BMW.L, BAMXF.PK, BAMXY.PK) announced Tuesday that it will use maritime plastic waste to produce visible trim parts, which is expected to reduce CO2 emissions or carbon footprint by 25 percent compared to conventionally manufactured components. The new initiative is developed in cooperation with the Danish company PLASTIX.
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Core & Main Boosts FY22 Outlook As Q2 Results Top Estimates
Core & Main, Inc. (CNM), a distributor of water, wastewater, storm drainage and fire protection products, reported on Tuesday that net income attributable to the company for the second quarter soared to $115 million from $27 million last year. The company also reported earnings per share of $0.67 per share, compared to loss per share of $0.14 per share a year ago.
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Bay Street Seen Opening Higher; U.S. Inflation Data In Focus
Higher Canadian and U.S. futures, and firm crude oil prices point to a positive start for the Canadian market on Tuesday.
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Akouos Says FDA Clears IND Application For AK-OTOF For OTOF-mediated Hearing Loss
Genetic medicine company Akouos, Inc. (AKUS) announced Tuesday that it has received clearance from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug (IND) application to initiate a Phase 1/2, first in human, pediatric clinical trial of AK-OTOF, a gene therapy intended for the treatment of patients with otoferlin gene (OTOF)-mediated hearing loss.
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UK Jobless Rate Hits 48-Year Low
The UK unemployment rate hit a 48-year low in the three months ended July largely due to a decline in the workforce size, data published by the Office for National Statistics showed Tuesday. The unemployment rate fell to 3.6 percent in three months to July, which was the lowest since May to July 1974. The rate was forecast to remain unchanged at 3.8 percent.
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German ZEW Economic Sentiment Falls To Lowest Since 1992
German economic confidence weakened in September to the lowest since late 1992 as financial market experts were more concerned about the prospect of energy shortages in the winter and its subsequent impact on the economy, a closely watched survey revealed Tuesday. The ZEW Indicator of Economic Sentiment fell to -61.9 in September from -55.3 in August.
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Indian Shares Extend Gains For Fourth Day; FMCG & Financials Lead
Indian shares rose for a fourth straight session on Tuesday, with key benchmark indexes hitting five-month highs led by financials and FMCG firms.
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European Shares Rise Ahead Of US CPI Data
European stocks advanced on Tuesday, with underlying sentiment boosted by M&A talk and hopes for a softer U.S. inflation reading.
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FTSE 100 Gains Amid M&A Talk
U.K. stocks rose on Tuesday, with underlying sentiment boosted by M&A talk and hopes for a softer U.S. inflation reading.
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