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Canadian Market Down Marginally As Investors Look For Direction
After a weak start and a subsequent rebound into positive territory, the Canadian market is down marginally a little past noon on Monday with investors largely making cautious moves amid rising fears about a global recession.
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Canadian Dollar Declines On Fed Rate Hike Fears
The Canadian dollar weakened against its major peers in the European session on Monday, on concerns that an aggressive monetary tightening across the globe could trigger a recession.
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Canadian Dollar Falls Against Majors
The Canadian dollar weakened against its major peers in the European session on Monday.
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Rackspace Technology Promotes CFO Amar Maletira To Succeed Kevin Jones As CEO
Rackspace Technology, Inc. (RXT), a cloud technology solutions company, announced Monday the appointment of Amar Maletira as Chief Executive Officer. Maletira, who has served as Rackspace Technology's President and Chief Financial Officer since November 2020, has assumed responsibilities effective immediately.
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China Central Bank Adopts Measures To Safeguard Yuan
China's central bank ramped up measures to safeguard the yuan from further depreciation on Monday as the U.S. Dollar continued to strengthen on the Federal Reserve's tightening stance. The People's Bank of China decided to raise the risk reserve requirement for banks' forward forex sales to 20 percent from zero. The new rate will take effect on September 28.
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Seagen, LAVA Therapeutics Ink Worldwide License Agreement To Develop And Commercialize LAVA-1223
Seagen Inc. (SGEN), a pioneer in antibody-drug conjugate (ADC) therapies, and LAVA Therapeutics N.V. (LVTX), a clinical-stage immuno-oncology company, announced Monday an exclusive license agreement in which Seagen will work to develop, manufacture and commercialize LAVA-1223.
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Bay Street Seen Opening Weak On Recession Fears
Canadian shares are set to open on a weak note on Monday, weighed down by lower commodity prices amid rising fears the global economy is slipping into a recession.
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Dollar Tree Says Michael Creedon To Join As COO
Dollar Tree, Inc. (DLTR) announced Monday that Michael Creedon, Jr. will be joining the organization as Chief Operating Officer. Creedon joins the company from Advance Auto Parts, where was Executive Vice President of U.S. Stores since March 2021.
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Euro Rebounds After Far-right Party's Election Win In Italy
The euro rose against its most major counterparts in the European session on Monday, as Giorgia Meloni's right-wing coalition has claimed victory in Italy's parliamentary elections held on Sunday.
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Atea Pharma Says FDA Grants Fast Track Designation To AT-752 For Treatment Of Dengue
Biopharmaceutical company Atea Pharmaceuticals, Inc. (AVIR) announced Monday that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation to AT-752, a novel, orally administered, direct-acting antiviral for the treatment of dengue virus infection.
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Sensex, Nifty End Deep In Red; IT Stocks Gain On Rupee Weakness
Indian shares fell for a fourth consecutive session on Monday and the rupee hit a record low for a third straight session, as investors fretted about faster inflation, aggressive central bank action and a possible global recession.
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German Ifo Business Confidence At 28-Month Low
German business confidence declined to the lowest level in more than two years in September signaling that the economy is slipping into a recession, survey results from the ifo Institute showed on Monday. The business confidence index fell sharply to 84.3 in September from 88.6 in August. This was the lowest since May 2020 and also below economists' forecast of 87.0.
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European Shares Mixed After Italy Vote
European stocks traded mixed on Monday after having suffered heavy losses last week on worries about an economic downturn.
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