U.S. will allow limited flights by Chinese airlines, not a ban

The Trump administration said Friday it will let Chinese airlines operate a limited number of flights to the U.S., backing down from a threat to ban the flights.
The decision came one day after China appeared to open the door to U.S.
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Asian shares higher after jobless data snaps Wall St rally

Shares advanced in Asia on Friday, with Tokyo's Nikkei 225 closing at its highest level since late February.
Investors were awaiting more updates on the U.S. jobless situation Friday after unemployment data released overnight gave the S&P 500 its first loss in five days.
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CMHC tightens mortgage insurance rules starting July 1

The government-backed Canada Mortgage and Housing Corp said on Thursday it would tighten rules for offering mortgage insurance from July 1, after forecasting declines of between 9  and 18 per cent in home prices over the next 12 months.
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World shares, Wall St futures advance ahead of U.S. jobs data

Shares surged Friday in early European trading and Wall Street futures were higher after a broad advance in Asia as investors await U.S. jobs data for May.
Germany's DAX gained 2% to 12,676.90 and the CAC 40 in Paris added 2.1% to 5,114.49.
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Pattie Lovett-Reid: Why CMHC is tightening lending standards

TORONTO -- Concern has been expressed by CMHC that we could see a correction in home prices between 9% and 18% over the next 12 months. This concern has led to the tightening of the rules for offering mortgage insurance effective July 1.
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World stock markets rise ahead of U.S. jobs data

Global markets rose Friday and Wall Street futures as investors awaited the U.S. jobs report for May, which is expected to show another surge in unemployment in the world's largest economy.
Germany's DAX gained 1.7% to 12,643 and the CAC 40 in Paris added 1.9% to 5,108.
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Bombardier to gradually cut 2,500 employees due to COVID-19

MONTREAL -- Bombardier Aviation will lay off 2,500 workers, mostly in Canada, because of the pandemic's impact on projected deliveries of its business jets, the company said Friday.
"When the pandemic first arose, Bombardier Aviation responded quickly, suspending manufacturing operations to support local government efforts to slow the spread of the virus and to protect the health and safety of employees, partners and customers," it said.
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Bombardier cutting 2,500 jobs as business jet demand falls due to pandemic

MONTREAL -- Bombardier Inc. will cut 2,500 workers from its plane-making division as demand for the company's main source of income -- private jets -- falls amid a recession and feeble travel demand.
Poised to start this month and continue throughout 2020, the cuts will see 1,500 layoffs in Quebec and 400 in Ontario, as well as 500 in Mexico, 40 in the United States and about 60 outside North America, according to a Bombardier spokesman.
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Malaysian ex-PM to hear verdict in 1st graft case in July

KUALA LUMPUR, MALAYSIA -- Malaysian ex-Prime Minister Najib Razak was victimized by rogue bankers and should be acquitted of corruption charges linked to the massive looting of a state investment fund, his lawyers said Friday at the close of his first corruption trial over the scandal.
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