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Biden Calls November Jobs Report ‘Grim’ in New Push for Stimulus

(Bloomberg) -- President-elect Joe Biden called the November jobs report “grim” and said it shows “there’s no time to lose” for Congress to pass a new Covid relief bill. The U.S. labor-market rebound slowed markedly in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery. “If we act now, and I mean now, we may begin...

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Exclusive: U.S. not extending TikTok divestiture deadline, but talks expected to continue – sources

By David Shepardson and Echo Wang WASHINGTON/NEW YORK (Reuters) - The Trump administration on Friday opted not to grant ByteDance a new extension of an order requiring the Chinese company to divest TikTok's U.S. assets, but talks between the company and government are expected to continue over the short video-sharing app's fate, two sources briefed on the matter said. Last week, the...

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Canada shares higher at close of trade; S&P/TSX Composite up 0.60%

Investing.com – Canada equities were higher at the close on Friday, as gains in the Energy, Clean Technology and Industrials sectors propelled shares higher. At the close in Toronto, the S&P/TSX Composite gained 0.60% to hit a new 6-month high. The biggest gainers of the session on the S&P/TSX Composite were BlackBerry Ltd (TSX:BB), which rose 11.04% or 1.06 points to...

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Virgin Money among challenger banks expected to join race for TSB – sources

By Pamela Barbaglia, Jesús Aguado and Iain Withers LONDON/MADRID (Reuters) - Britain's Virgin Money (LON:VM) and OneSavings Bank are among a group of challenger banks expected to show interest in British lender TSB ahead of an auction process which is due to start next year, sources familiar with the matter told Reuters. British residential mortgage lender Kensington Group and credit card provider...

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Italy to discuss on Monday plans to use resources from EU’s Recovery Fund

ROME (Reuters) - Italy's cabinet will meet on Dec. 7 to discuss the country's national recovery plan, a statement from the Prime Minister's office said on Friday. Rome is expected to receive more than 200 billion euros ($242.88 billion) from the European Recovery Fund designed to help EU nations hardest hit by the coronavirus. ($1 = 0.8235 euros) ...

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Glencore boss Glasenberg to step down, Gary Nagle named new CEO

By Zandi Shabalala and Helen Reid LONDON/JOHANNESBURG (Reuters) - Glencore (LON:GLEN) boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO. Glasenberg's departure next year will mark a shift to a new, younger leadership for the business. Glasenberg, 63, has been chief executive...

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