China Reopening Is Wild Card For Canada Sticking Economic Soft Landing, Analysts Say

China Reopening Is Wild Card For Canada Sticking Economic Soft Landing, Analysts Say

By Steve Scherer and Fergal Smith OTTAWA/TORONTO (Reuters) – China’s rapid reopening is likely to fuel demand for commodities produced in abundance by Canada, potentially helping Canada’s economy avoid a recession as long as it does not also force up inflation and spur further interest-rate hikes. The Bank of Canada last month hiked its key…

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AI Stocks Rally In Latest Wall Street Craze Sparked By ChatGPT

AI Stocks Rally In Latest Wall Street Craze Sparked By ChatGPT

(Reuters) – Shares of C3.ai Inc, BigBear.ai and SoundHound AI extended a rally on Monday as artificial intelligence becomes a new buzzword on Wall Street with the viral success of ChatGPT chatbot, attracting interest from retail punters. Software firm C3.ai rose 11%, analytics firm BigBear.ai jumped nearly 21% and conversation artificial intelligence company SoundHound surged…

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Putin Approves Sale Of Mercedes-Benz Russian Finance Arm

Putin Approves Sale Of Mercedes-Benz Russian Finance Arm

MOSCOW (Reuters) – Russian President Vladimir Putin on Monday approved the sale of Mercedes-Benz’s local financial services division to Russian car dealer Avtodom, nudging the German automaker closer towards fully offloading its Russian assets. Mercedes-Benz suspended production at its factory in Russia and halted exports to the country last March, and said in October it…

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Hedge funds caught in bigger squeeze than 2021 meme stock frenzy – Goldman Sachs note

By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) -Hedge funds betting against stocks globally abandoned those trades last week at the fastest pace since 2015, surpassing the speed of their exodus from the meme stock frenzy two years ago, according to a Goldman Sachs research note. The latest short squeeze, implying that stock prices…

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