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World shares weaken ahead of G7 meeting; oil bottoms out

HONG KONG -- World stock markets weakened Friday as investors awaited the upcoming G-7 summit and oil prices rebounded somewhat as markets shook off initial disappointment over a production cut deal.
KEEPING SCORE: European shares opened lower, with France's CAC 40 down 0.8 per cent to 5,297.13 and Germany's DAX lost 0.5 per cent to 12,561.85.
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OPEC decision stabilizes oil prices, but for how long?

In one of the least surprising OPEC meetings in a while, members of the cartel of oil-exporting countries and their non-member allies agreed to extend oil production cuts on Thursday, which will support the price of oil and should continue to help pave the way for Alberta's economic recovery.
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Alberta Energy Regulator to reconsider Suncor tailings plan it rejected

CALGARY -- Alberta's energy watchdog has agreed to reconsider its rejection of a plan by oilsands giant Suncor to clean up its tailings ponds.
The Alberta Energy Regulator denied the Calgary-based company's applications in March, saying they did not satisfy requirements and a new proposal was needed.
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The case for BlackBerry at $45 US a share

BlackBerry Ltd. shares have been on a hot streak — rising more than 60 per cent in recent weeks — and one technology analyst thinks some of the company's new products have the potential to help push the stock to $45 US in three years.
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Bank CEOs say Home Capital issues not widespread

TORONTO -- The CEOs of two of Canada's biggest banks say liquidity troubles at mortgage lender Home Capital are not indicative of a broader problem, but they are monitoring their mortgage portfolios in light of concerns about high house prices.
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Malicious hackers say they demanded $50,000 ransom for stolen Bell data

A pair of malicious hackers say they demanded that Bell pay a $50,000 US ransom to prevent stolen customer data from being shared online, according to a person claiming responsibility for the theft.
That person — who communicated with CBC News via encrypted chat using the handle "exodus" — says a ransom email was sent to Bell on May 5, detailing the extent of the breach and the thieves' terms.
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Payment systems modernization long overdue: BoC official

OTTAWA -- A senior Bank of Canada official says modernization of the country's core payments infrastructure is long overdue amid the rapid advance of new technologies -- and the risks that accompany them.
In prepared remarks of a speech, deputy bank governor Sylvain Leduc says the system must be able to keep up with new payment options that, in recent years, have included innovations like PayPal, e-transfers and Apple Pay.
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Kinder Morgan announces final investment decision on Trans Mountain pipeline

VANCOUVER -- Kinder Morgan says it will proceed with the $7.4-billion Trans Mountain pipeline expansion as long as it secures satisfactory financing for the project through its initial public offering.
The Texas-based company, in conjunction with its indirect subsidiary Kinder Morgan Canada, announced on Thursday its final investment decision on the project, which is conditional on the successful completion of the IPO.
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Feds release details of delayed methane reduction plan

CALGARY -- Companies in the energy sector would be required to regularly check equipment for leaks, make repairs, monitor emission levels and report them to Ottawa under the federal government's proposal to reduce methane emissions.
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Amazon opens first brick and mortar New York bookshop

Online retail giant Amazon on Thursday opened its first brick and mortar bookstore in New York, selling a limited range of its highest-rated books and letting customers browse products as in times gone by.
Amazon, which launched as an online bookseller in 1995 but which now sells everything from designer clothes to groceries, bided its time before venturing into the US cultural capital.
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Federal government's methane emission reduction plan raises industry concerns

CALGARY -- Tougher methane emission regulations unveiled Thursday are expected to create oil and gas services jobs, but have raised concern that the costs of implementation could further weaken an industry hit hard by two years of commodity price uncertainty.
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Ontario threatens its own protectionism in fight against Texas Buy American bill

TORONTO - Ontario has hired lobbyists in Texas and is threatening protectionist measures of its own as it tries to convince state officials not to pass a Buy American bill.
Premier Kathleen Wynne claimed victory last month after a successful Ontario push to stop similar provisions in New York state.
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GM accused of installing 'defeat devices' in diesel trucks to beat emissions tests

A lawsuit on behalf of 705,000 GM Silverado and Sierra diesel truck owners alleges the vehicles have technology on them designed to beat emissions tests. (Rebecca Cook/Reuters)
GM has been accused of installing "defeat devices" similar to the ones Volkswagen used in order to beat emissions tests on hundreds of thousands of diesel truck engines.
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