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Saudi Arabia Suspends Ties With Canada Over Activist Row

Saudi Arabia halted new trade and investment dealings with Canada and suspended diplomatic ties in a dramatic escalation of a dispute over the kingdom’s arrest of a women’s rights activist. The kingdom recalled its ambassador to Ottawa and ordered the Canadian envoy to Riyadh to leave within 24 hours, according to a foreign ministry Saudi Arabia is shifting, slowly: read more here. Representatives from Canada’s global affairs department weren’t immediately able to comment. Saudi investments in Canada include G3 Global Holdings Ltd., a joint venture between Bunge Ltd. and Saudi…

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Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the U.S. and Europe back from the edge of a transatlantic trade war. The leaders pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to lower industrial tariffs, excluding autos. The U.S. and European Union will “hold off on other tariffs”’ while negotiations proceed, as well as re-examine U.S. steel and aluminum tariffs and retaliatory duties imposed by the EU “in due course,” Juncker said.…

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Trade Wars Are Bad and Hard to Win, U.K. Tells Trump

The U.K. has “deep concern” about the U.S. plan to slap tariffs on steel and aluminum imports, and negotiated accords are better, Prime Minister Theresa May told President Donald Trump. The two leaders spoke Sunday by telephone, with May saying “multilateral action was the only way to resolve the problem of global overcapacity in all parties’ interests,” according to a spokesman for the prime minister. Trump’s vow that trade wars are good and are easy to win also drew a rebuke from one of May’s most senior ministers, who said…

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IMF Says Global Growth Picking Up as U.S. Tax Cuts Take Hold

The International Monetary Fund warned policymakers to be on guard for the next recession even as it predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts spur businesses to invest. The fund raised its forecast for world expansion to 3.9 percent this year and next, up 0.2 percentage point both years from its projection in October. That would be the fastest rate since 2011, when the world was bouncing back from the financial crisis. The strengthening recovery offers a “perfect opportunity now for…

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