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GiveLife.ca

    
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PRINT EDITION
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Globe Columnists
Monday, September 16




  Eric Reguly
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To The Point



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Proposed stock-exchange merger poses a predicament for British PM space
China's rejected bid for the LSE is politically inconvenient, but it's come amid Johnson's desperate attempts to validate his country's economic might
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By ERIC REGULY
Saturday, September 14, 2019 – Page B4
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LONDON -- Boris Johnson, the man who would shear Britain off from Europe to create a cold-water version of Singapore, desperately wants to show the world that Britain Inc., post-Brexit, could go it alone and thrive. What better way than to land a big-bang foreign investment even as he, Prime Minister since July, flops around on the Brexit file like a beached cod.  FULL STORY arrow
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As ECB runs out of ammunition, it's time for Europe's leaders to ramp up spending space
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By ERIC REGULY
Friday, September 13, 2019 – Page B1
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LONDON -- Mario Draghi is going out with a bang.At his penultimate rate-setting meeting before he hands the whole sorry show to Christine Lagarde - the former boss of the International Monetary Fund - at the end of October, the president of the European Central Bank hauled out his bazooka for one last time in an effort to revive the European economy and stoke inflation.  FULL STORY arrow
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Why banks fear extended negative rates space
Fresh European financial crisis not out of the question
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By ERIC REGULY
Saturday, September 7, 2019 – Page B4
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ROME -- Abolishing interest rates sounds like the greatest idea since spray cheese.Money for nothing, mortgages for free! In Denmark, Jyske Bank AS is offering 10-year mortgages where the bank actually pays the borrower interest of 0.5 per cent a year. Imagine that. But that's what happens when the banking world turns upside down.  FULL STORY arrow
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Johnson's Brexit plan comes at a bad time space
Slowing global economies and fallout from leaving EU will likely add up to a British downturn and little money to reverse it
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By ERIC REGULY
Thursday, September 5, 2019 – Page B4
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ROME -- Boris Johnson, the would-be architect of Brexit - the hard or soft variety - could not have picked a worse time to pry Britain loose from the European Union: The British economy may already be in recession, and the world's other economies are showing ominous signs of stress.  FULL STORY arrow
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As hard Brexit looms, risk of recession hangs over U.K. space
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By ERIC REGULY
Saturday, August 31, 2019 – Page B1
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-- It was called Project Fear. In the 2016 Brexit referendum, when Boris Johnson was mayor of London - he's now Prime Minister of the United Kingdom - he used the term to accuse the proEuropean Union crowd of scaremongering, insisting the ''agents of Project Fear'' were making fake predictions of economic calamity should Britain go it alone.  FULL STORY arrow
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Conte's revival as Italian PM deals blow to far right space
Salvini's gamble to split governing coalition and trigger an election failed spectacularly, shifting the power away from the populist politician
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By ERIC REGULY
Friday, August 30, 2019 – Page A4
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ROME -- A t the Group of Seven summit in France, Italy's Giuseppe Conte was a nonentity - for good reason: just before the meeting, he had resigned as prime minister, his government was finished and Italy was again mired in political and economic chaos.  FULL STORY arrow
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ITALY space
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By ERIC REGULY
Friday, August 30, 2019 – Page P37
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-- LATE IS EARLY Italians are notoriously late for everything. If you show up precisely on time, no one will be there. A former Canadian ambassador to Rome once told me that Italian diplomat guests would routinely arrive two full hours after the appointed dinner time, when the meal was rather cold. For business meetings, 15 to 20 minutes late is pretty much right on time.  FULL STORY arrow
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Trump was civil at G7, but he still isn't a fan space
If the goal of this year's summit was to get U.S. President onside with pressing issues affecting our planet, the event came up far short
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By ERIC REGULY
Tuesday, August 27, 2019 – Page A15
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BIARRITZ, FRANCE -- Gone were the incendiary tweets, the disdainful looks, the fits of pique.Donald Trump did not storm out of the Group of Seven summit in Biarritz, France. He did not lash out at other G7 leaders or insult the group's host, as he did last year at the Canadian G7. His tweets were blandly polite. He looked bored; at one point killing time by responding to a provocative tweet from Ezra Levant of Canada's Rebel Media, of all people. He managed to smile now and again and tweet about ''great'' meetings.  FULL STORY arrow
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Canada to deliver aid to Brazil to help fight Amazon wildfires space
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By ERIC REGULY
Tuesday, August 27, 2019 – Page A15
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BIARRITZ, FRANCE -- Canada became a driving force behind one of the few concrete measures unveiled at the Group of Seven summit by announcing it would deliver financial and technical support to Brazil to help it fight the fires that are devastating the Amazon.  FULL STORY arrow
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As Amazon burns, Macron and Trudeau raise the alarm at G7 space
Leaders are piling pressure on Brazil to combat rain-forest fires, and it seems President Bolsonaro might be listening
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By ERIC REGULY
Monday, August 26, 2019 – Page A4
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BIARRITZ, FRANCE -- If the Group of Seven summit has a bogeyman, it is Jair Bolsonaro, the Brazilian President who has been dubbed ''Captain Chainsaw'' for putting commercial interests ahead of protecting the Amazon rain forest.  FULL STORY arrow
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Trump took a gamble in his trade war against China, and it's already backfiring space
Lower interest rates won't save U.S. from effects of higher tariffs or a relentless sell-off
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By ERIC REGULY
Saturday, August 3, 2019 – Page B6
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-- If Donald Trump's rage-fuelled tweet machine had one theme in the past year, it was the endless attacks on the U.S. Federal Reserve and its chairman, Jerome Powell. How inconvenient that the Fed was independent, and didn't bow to the President's demands to cut interest rates and goose the economy. Didn't he know an election was coming?  FULL STORY arrow
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Many moons ago: Remembering the launch of Apollo 11 space
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By ERIC REGULY
Saturday, July 13, 2019 – Page O4
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-- The Globe and Mail's European bureau chiefWatching the liftoff of Apollo 11 - the moonshot - was one of my earliest memories. But I wasn't watching it on TV. I was at Cape Kennedy, in the spectator stands with my sisters and my mother, covering our ears, terrified as 7.7-million pounds of thrust from the mighty Saturn V rockets shook the earth and nearly deafened us.  FULL STORY arrow
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Chinese overhaul of Greek port opens gateway to Europe space
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By ERIC REGULY
Monday, July 8, 2019 – Page A1
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PIRAEUS, GREECE -- The union members were shouting, ''No more workers' blood!'' at a protest at the Port of Piraeus, just outside Athens, on a warm weekday morning in late May. A worker had been killed in a scaffolding accident two days earlier, and the Metal Workers Union of Attica was directing its anger at China COSCO Shipping, the Chinese state-owned logistics giant that controls the port.  FULL STORY arrow
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Lagarde is a great choice to replace Draghi space
She may be a non-economist without banking experience, but she is a consensus builder at a moment when the euro zone needs a new strategy
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By ERIC REGULY
Saturday, July 6, 2019 – Page B4
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ROME -- Christine Lagarde, managing director of the International Monetary Fund, was the long-shot candidate to replace Mario Draghi as the president of the European Central Bank.She had never been a banker, let alone a central banker. She is not an economist; she is a lawyer and a rather flamboyant politician who ran various French government ministries.  FULL STORY arrow
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The plane crash, the missing airmen and the mystery of their fate space
In 1944, a pilot and his navigator were shot down over occupied France - but their bodies were never found. Where did they go, and why did they never make it home? It took their family, amateur historians and a team of student researchers to find out
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By ERIC REGULY
Saturday, July 6, 2019 – Page A8
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PETITMONT, FRANCE -- Madelaine Schultz remembers the terrifying explosions like they were yesterday. She was 22 years old and living in the village of Petitmont in northeastern France, not far from the German frontier. In the months after D-Day, British and American heavy bombers began flying over not in the dozens or hundreds, but in the thousands. By day, the lumbering four-engine aircraft were American B-17s; by night, British Lancasters. They filled the skies and flattened German military sites and factories, sometimes entire cities.  FULL STORY arrow
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EU appointments underscore bloc's discord space
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By ERIC REGULY
Wednesday, July 3, 2019 – Page B5
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ROME -- For anyone who thinks the European Union is in trouble, that it is a noble idea now reaching its expiry date, the allocation of the EU's top jobs gives them another chance to say ''I told you so.'' The process was fraught, riven by infighting and power plays.  FULL STORY arrow
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Restoring Deutsche Bank to its former glory will take more than another round of job cuts space
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By ERIC REGULY
Tuesday, July 2, 2019 – Page B1
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-- Deutsche Bank is one of the oldest and biggest banks in the world and will celebrate its 150th anniversary next year. It will not be a merry occasion.The bank has been a perennial stock market dog and there is little sign the lender that helped turn ''Made in Germany'' into a global brand will ever return to glory, in spite of endless turnaround efforts.  FULL STORY arrow
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Facebook's Libra may be a force for good space
The social network can't be called benign, but it's hard to see us losing more privacy. If its new cryptocurrency rattles financial services, would it be so bad?
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By ERIC REGULY
Saturday, June 29, 2019 – Page B4
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-- The media and political reaction to Facebook's launch of a global cryptocurrency, known as Libra, and the digital wallet that would go with it, Calibra, was one of near hysteria.  FULL STORY arrow
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Monsanto herbicide has been poison to Bayer space
Cancer-related lawsuits over glyphosate have given the Aspirin maker a spot high on the list of world's worst takeovers
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By ERIC REGULY
Saturday, June 22, 2019 – Page B4
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ROME -- What were the worst acquisitions of all time?The list certainly includes AOL's purchase of Time Warner, perhaps the stupidest deal of all time, which was responsible for the eradication of US$200-billion of shareholder wealth. It would also have to include other epic duds such as Microsoft's purchase of Nokia, Google's purchase of Motorola and Sprint's takeover of Nextel Communications.  FULL STORY arrow
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Keep calm, give the U.K. climate plan a chance space
Going 'net-zero' on carbon emissions by 2050 is an ambitious and expensive target, but it's worth a try even if the skeptics are right
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By ERIC REGULY
Saturday, June 15, 2019 – Page B4
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ROME -- British Prime Minister Theresa May botched the Brexit file and, for that epic miscalculation, she lost her job. As she slinks away from 10 Downing St., she wants to ensure that her legacy includes at least one charming footnote and, to that end, she chose climate change.  FULL STORY arrow
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The new boss at SNC needs a fresh strategy space
Interim CEO Edwards, expected to take over as permanent head, faces a challenge as he tries to persuade investors to stand by the company
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By ERIC REGULY
Wednesday, June 12, 2019 – Page B4
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ROME -- The last time I saw SNC-Lavalin boss Neil Bruce was in March in London and he seemed miserable. Now he's gone. On Tuesday, the Montreal engineering and construction company announced his departure. His exit should come as no surprise and was probably a relief for SNC's biggest shareholders, notably the Caisse de depot et placement du Quebec.  FULL STORY arrow
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A family affair: The dismantling of Bombardier space
Core of the business is being pulled apart as company's rulers retain their iron grip on voting shares
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By ERIC REGULY
Saturday, June 8, 2019 – Page B4
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-- Not long ago, Bombardier Inc. billed itself as the world's third-largest aerospace company, and it was, proudly so. Its lofty status would make Bombardier Quebec's favourite corporate son and, after the downfall of Nortel and BlackBerry, one of Canada's few remaining national and global champions. It would never be a Boeing or an Airbus, but it was big enough to fire some rounds into the underbellies of the airborne oligopolists.  FULL STORY arrow
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French political winds thwarted Renault tie-up: FCA space
Fiat Chrysler walks away from deal once thought to be near completion, but leaves possibility of further talks open
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By ERIC REGULY
Friday, June 7, 2019 – Page B3
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ROME -- The proposed merger between Fiat Chrysler Automobiles and France's Renault, a deal that would have created the thirdlargest car maker, has collapsed.But FCA appeared to keep the door open by touting the merits of the deal.  FULL STORY arrow
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Signs of hope in Greece, 10 years after economic collapse space
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By ERIC REGULY
Monday, June 3, 2019 – Page B1
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-- In a quiet Athens suburb, comfortably distant from the capital's gritty centre, a tiny piece of the Greek economy is humming along rather nicely. It's adding employees, a rarity in any industry in Greece, which has yet to recover from the decadelong shock that shrunk the size of its economy by a quarter.  FULL STORY arrow
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Italy is possibly the next Greek crisis ... times 10 space
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By ERIC REGULY
Saturday, June 1, 2019 – Page B4
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ROME -- Matteo Salvini is Europe's hottest populist. He is the leader of Italy's League party, Deputy Prime Minister and a social-media star. But he's really the boss - Prime Minister Giuseppe Conte is a non-entity. Mr.Salvini's party placed first last weekend in the European Union parliamentary elections and he's about to use his power to play a dangerous game that could amplify Italy's status into the Western world's biggest sovereign risk.  FULL STORY arrow
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Europe's Greens gain momentum as young voters shun convention space
Green wave gives the parties an estimated 69 seats, up from 52
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By ERIC REGULY
Wednesday, May 29, 2019 – Page A6
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ROME -- The European Union elections propelled the Green parties from the political fringe to the political core, making them in effect the new left and a formidable power in the EU Parliament.  FULL STORY arrow
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Unlikely auto megamerger could rattle the global car industry space
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By ERIC REGULY
Tuesday, May 28, 2019 – Page B1
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ROME -- If there is one big-bang auto merger that has the potential to trigger low-grade panic in the global car industry, the proposed deal between Fiat Chrysler Automobiles NV and Renault SA is it.  FULL STORY arrow
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Pro-EU parties hold back populist surge space
Exit polls suggest only a partial victory for nationalist parties in European Union parliamentary elections
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By ERIC REGULY
Monday, May 27, 2019 – Page A3
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ROME -- The rising populist and nationalist parties fell well short of overturning the political order in Brussels even though they, along with the Green parties riding the wave of worry about climate change, made gains in the European Union parliamentary elections.  FULL STORY arrow
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Lights dimming at the private-equity party space
IPO flops by Lyft, Uber signal we've hit tipping point of debt-fuelled buyout craze
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By ERIC REGULY
Saturday, May 18, 2019 – Page B4
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ROME -- The private-equity industry has been a wonder, a massive growth and profit machine that has made the rich richer, flattered the returns of pension and sovereign funds and thrust star tech companies onto the stock market. Their fuel is cheap debt and lots of it, and the returns have been awe-inspiring.  FULL STORY arrow
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The European elections: Why they matter in the age of populism space
Europe goes to the polls later this month. With the rise of the populist, Euroskeptic parties, this parliamentary election matters. Eric Reguly explains what's happening and what's at stake
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By ERIC REGULY
Thursday, May 16, 2019 – Page A10
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-- Q: What are the European Union elections, and why is this year's edition not expected to be the usual bore-a-thon?  FULL STORY arrow
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The dangers of chasing profitless growth in a frothy market space
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By ERIC REGULY
Saturday, May 11, 2019 – Page B4
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-- The new generation of tech companies galloping toward the stock market have one big thing going for them: Their technology works. Book an Uber on the app and - voila! - along comes an Uber. Last year, more than five billion rides were booked on the ride-hailing service.  FULL STORY arrow
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Trump's calls for low oil prices don't ring true space
U.S. could benefit from global export market by tightening blockade on Venezuela, shutting out Iran and stoking civil war in Libya
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By ERIC REGULY
Saturday, April 27, 2019 – Page B4
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ROME -- For decades, the United States government has been terrified of high oil prices. Oil shocks, like the one triggered by the 1973-74 Arab oil embargo, were disastrous for the economy, car makers and consumers. Expensive fill-ups risked voter retaliation. The first Gulf War, when coalition forces led by the United States evicted Saddam Hussein's Iraqi army from Kuwait, was in good part an oil war.  FULL STORY arrow
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A strongman's fight for unity in Libya isn't going to plan space
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By ERIC REGULY
Saturday, April 27, 2019 – Page A23
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-- At 76, Khalifa Haftar is full of fight and making the biggest military and geopolitical move of his life. And it's not going well.The aging general - actually field marshal, the highest army ranking, typically given in honour of battle victories - launched his attack on Tripoli on April 4, after his cakewalk through the south of Libya from his power base in the eastern half of the country. The assault on the capital was his strongman effort to bring all of Libya under his control and vanquish the country's ''terrorist'' gangs.  FULL STORY arrow
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Inside Steve Bannon's fledgling school for populism space
The propagandist who helped bring Donald Trump to power wants disciples who can spread his brand of nationalism across Europe - and they're starting in a remote mountain monastery in Italy. The Globe went to take a look
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By ERIC REGULY
Tuesday, April 23, 2019 – Page A10
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COLLEPARDO, ITALY -- In the early 13th century, when the reclusive Carthusian monks chose to build a monastery on the Italian peninsula, they went big and they went remote.Their Certosa di Trisulti monastery, as it's called, is in the middle of nowhere by jam-packed Italian standards. It's plastered on a high slope - 825 metres above sea level - in central Italy's Ernici mountains, about two hours by car southeast of Rome. The nearest town, Collepardo, is a 15-minute grind down the mountain. From the monastery itself, all I could see was forest and snow-capped mountaintops.  FULL STORY arrow
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When Greece outperforms Italy, it's a problem for Italian populists space
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By ERIC REGULY
Saturday, April 20, 2019 – Page B1
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ROME -- Ever since I moved to Rome almost a dozen years ago, the health of the Italian economy was treated as an afterthought. Apparently, it still is.Silvio Berlusconi partied his way through the financial crisis as the remnants of la dolce vita faded away, never to return. Lurid stories of his ''bunga bunga'' sex parties, and the endless court cases against him, distracted Italians from the ugly truth that Italy, a Group of Seven country and Europe's second-biggest manufacturer, could no longer generate enough wealth to finance its pleasant lifestyle.  FULL STORY arrow
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Libyan leaders warn civil war could cause prison breaks, free terrorists space
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By ERIC REGULY
Wednesday, April 17, 2019 – Page A4
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ROME -- The leaders of Libya's internationally recognized Government of National Accord are warning that Europe could face a new migrant and terrorism crisis if the country descends into a civil war that threatens the security of prisons and detention centres.  FULL STORY arrow
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Investors buying into Uber's growth story are in for a bumpy ride space
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By ERIC REGULY
Tuesday, April 16, 2019 – Page B1
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-- Passengers love the fares charged by Uber. Why wouldn't they? Uber loses money on almost every ride.When you're sitting in the back of an Uber car, you can take pleasure in knowing that the company's business concept relied on taking money from the rich - the private investors who subsidized the amazing growth of the ridehailing service - to the unrich, which would be you and me and anyone else who finds the cost of regular licensed taxis excessive.  FULL STORY arrow
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Governments' diesel drive backfired. Will their battery push blow up, too? space
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By ERIC REGULY
Saturday, April 13, 2019 – Page B6
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-- The late Sergio Marchionne, who was CEO of Fiat Chrysler Automobiles, hated electric cars - to the point that he urged customers to not buy the electric version of the little Fiat 500. That's because the company lost US$14,000 on the sale of each one. Let Elon Musk, the founder of Tesla, blow his brains out on electric cars; FCA would resist them, though ever-tighter emission regulations in some regions, such as California, meant the company was forced to launch a few battery models.  FULL STORY arrow
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After long Barrick stint, Kelvin Dushnisky gets to run his own show at Africa's top gold miner space
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By ERIC REGULY
Saturday, April 6, 2019 – Page B1
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LONDON -- Kelvin Dushnisky, the new CEO of AngloGold Ashanti and the former president of Barrick Gold, is so politely Canadian that I wonder if he's too polite to run the world's third-biggest gold company.  FULL STORY arrow
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Is peak oil closer than we think? space
Ghawar oil field, the world's biggest, is just one of dozens of massive conventional-crude reservoirs around the planet in various stages of decline
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By ERIC REGULY
Saturday, April 6, 2019 – Page B4
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-- The Ghawar oil field in Saudi Arabia carries mythical status in the global oil markets. Huge and prolific, it has been the country's top wealth creator for decades - still is - and one of the main reasons why the global oil markets have been amply supplied. If Ghawar were not around, filling up your car would be a lot more expensive.  FULL STORY arrow
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SNC's probable exodus from Canada is a national shame space
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By ERIC REGULY
Saturday, March 30, 2019 – Page B1
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-- Head offices abandon Canada in two ways - slowly or abruptly.The slow approach sees the head office, usually after a foreign takeover, gradually lose relevance, to the point it becomes a branch plant and simply fades from view over several years. The abrupt approach, again usually after a foreign takeover, sees the head office vanish virtually overnight, as Falconbridge did a decade ago after it was snapped up by mining giant Xstrata.  FULL STORY arrow
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SNC warned prosecutors of corporate move to U.S. space
Statements in documents appear to conflict with comments by CEO Neil Bruce
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By ERIC REGULY, NICOLAS VAN PRAET
Friday, March 29, 2019 – Page B1
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LONDON MONTREAL -- SNC-Lavalin Group Inc. warned federal prosecutors in writing last fall that the company could break up and move its corporate headquarters to the United States if it was not invited to negotiate a deal to suspend criminal prosecution.  FULL STORY arrow
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Brexit killed off the copycats, but not Euroskepticism space
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By ERIC REGULY
Tuesday, March 26, 2019 – Page A17
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LONDON -- As a pro-EU Italian-Canadian who lives in Rome and travels throughout Europe, Brexit made absolutely no sense to me. What was the point of it when Britain already had the best of both worlds?  FULL STORY arrow
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With the BRI deal, Beijing is trying to get to the European Union through Rome space
As the first G7 country to join the initiative, Italy says it's an investment opportunity, but critics say China has an ulterior agenda
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By ERIC REGULY
Saturday, March 23, 2019 – Page B4
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ROME -- Chinese President Xi Jinping on Friday was given an Italian welcome worthy of the return of a conquering Roman emperor. On a warm, sunny day, the red-carpet treatment in all its flummery included horse guard escort, a private tour of the Colosseum and a state dinner with Italian President Sergio Mattarella in the Quirinale Palace, where the talent was opera star Andrea Bocelli.  FULL STORY arrow
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Italy risks alienating Western allies as it embraces China's Belt and Road project space
The G7 country's membership in Beijing's trade initiative is being touted for its potential investment benefits, but the timing couldn't be worse
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By ERIC REGULY
Wednesday, March 20, 2019 – Page B4
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ROME -- As Brexiteers dream of recreating the glory days of the British Empire, when His and Her Majesty's ships filled the seaborne trading routes, Italy dreams of invoking the spirit of Marco Polo, the 13th-century explorer and writer who travelled the Silk Road, China's gateway to Europe that brought Chinese goods to his home port of Venice and beyond.  FULL STORY arrow
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Berlusconi back in the spotlight after model who testified against him dies mysteriously space
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By ERIC REGULY
Tuesday, March 19, 2019 – Page A2
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ROME -- The mysterious death of a former model has come back to haunt Silvio Berlusconi, the former Italian prime minister whose ''bunga bunga'' orgy parties triggered a sensational scandal that enveloped him with legal problems that have yet to end.  FULL STORY arrow
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In Tunisia, a youth crisis threatens the Arab Spring's most successful revolution space
In 2010, a desperate man's suicide inspired a country to overthrow an authoritarian regime in the hopes of freedom and opportunity. It got freedom, but amid staggering unemployment, opportunity remains a dream for many
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By ERIC REGULY
Tuesday, March 19, 2019 – Page A10
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SBEITLA, TUNISIA -- On a late December afternoon in 2016 - six years to the month after the start of the Tunisia revolution - Farid Touti decided he could not endure his wretched life anymore.  FULL STORY arrow
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Response to Ethiopian Airlines crash not the finest hour for Boeing or FAA space
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By ERIC REGULY
Saturday, March 16, 2019 – Page B1
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-- Boeing and the U.S. Federal Aviation Administration define the spectacular success of the American commercial aviation industry. Since the late 1960s, the Boeing 737 series has been an airborne wonder, the most popular single-aisle passenger jet in the world - still is.  FULL STORY arrow
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Dictators, don't wreck your economy like Bouteflika did space
Collapse of Algerian President's 20-year regime can be traced back, in part, to a failure to diversify the country's economic offerings
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By ERIC REGULY
Wednesday, March 13, 2019 – Page A9
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ROME -- The collapsing regime of Algerian autocrat Abdelaziz Bouteflika is a warning to dictators everywhere. If you want to keep your job, live in obscene wealth and deny your citizens basic freedoms, don't let your economy swirl down the toilet. The people tend to get agitated when they're out of work as the rich get richer.  FULL STORY arrow
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Algerian President agrees to step down space
Bouteflika, 82, had been planning to seek fifth term, despite being highly unpopular among the young
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By ERIC REGULY
Tuesday, March 12, 2019 – Page A3
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ROME -- Algerian President and dictator Abdelaziz Bouteflika announced the end of his 20-year rule and a delay to the planned spring elections after weeks of largely peaceful mass protests against his regime threatened to turn violent and destabilize the oilrich North African country.  FULL STORY arrow
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The untested risks of 5G technology space
Race to install latest generation of wireless networks continues apace even though there have been no studies on long-term effects from radiation
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By ERIC REGULY
Saturday, March 9, 2019 – Page B4
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ROME -- The new, ultrafast mobile wireless networks known as 5G are touted by tech companies as the greatest invention since the railway. They will revolutionize consumer engagement and the wider economy.  FULL STORY arrow
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Europe's economic slump hands Draghi another problem space
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By ERIC REGULY
Friday, March 8, 2019 – Page B1
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ROME -- Mario Draghi did not want to go down fighting.The president of the European Central Bank had been battling to stave off recession, low inflation and bank failures since the moment he took the job at the height of the financial crisis in 2011. A year later, he vowed to do ''whatever it takes'' to save the euro from destruction.  FULL STORY arrow
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Newmont's counterattack doesn't mean Barrick is done space
The American gold company told Barrick to hit the road, but the Canadian miner still has a lot going for it
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By ERIC REGULY
Tuesday, March 5, 2019 – Page B4
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-- Barrick Gold's lunge for Newmont Mining has officially gone hostile, extremely so, with Newmont formally rejecting the Canadian company's US$17.8-billion offer and blasting its executive chairman, John Thornton, for shabby performance. But this is not the end of the story - don't count Barrick out just yet.  FULL STORY arrow
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Coal-cap ploy a clever win-win for Glencore space
Commodities giant buys itself public goodwill on climate change without threatening its flow of carbon-fuelled profits
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By ERIC REGULY
Saturday, March 2, 2019 – Page B4
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ROME -- Coal blackens the veins and arteries of Glencore, the world's biggest commodities trader, and those of its South African CEO, Ivan Glasenberg.Both owe their existence to coal.Coal is Glencore's biggest commodity, hauling in more than US$5-billion a year in profits for the company. Mr. Glasenberg began his career as a coal trader and has cherished the dirtiest fossilfuel ever since, to the point that Glencore is the global leader in the coal used to fire up electricitygenerating plants.  FULL STORY arrow
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Bristow will have to dig a little further if he wants to make a deal space
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By ERIC REGULY
Tuesday, February 26, 2019 – Page B1
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OPINION -- Barrick Gold just traipsed into a potentially nasty battle short of ammunition.On Monday morning, John Thornton, Barrick's executive chairman, and CEO Mark Bristow unveiled a nil-premium, allshare offer for Colorado's Newmont Mining. Hostile offers generally come with juicy premiums or else they don't work, and this bid is already not working.  FULL STORY arrow
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Barrick may have to pay a fat premium if it wants Newmont space
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By ERIC REGULY
Saturday, February 23, 2019 – Page B4
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ROME -- The marriage of Toronto's Barrick Gold and Denver's Newmont Mining, the two big beasts of the gold world, should have happened a long time ago. The theoretical deal made perfect sense because combining their properties in Nevada could save fortunes, all the better to reward shareholders.  FULL STORY arrow
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As the U.K.'s auto plants close, blame Brexit space
There is no other reason for Japanese automakers to leave Britain while maintaining a healthy presence in Europe
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By ERIC REGULY
Thursday, February 21, 2019 – Page B4
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ROME -- For a couple of centuries, up until the early 1970s, Britain was the world's biggest per-capita manufacturer. It was a global leader in autos. In 1972, it made almost two million cars, a remarkable achievement for a small country that didn't even have a trade deal with Europe.  FULL STORY arrow
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Pope's credibility at stake as Vatican abuse summit looms space
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By ERIC REGULY
Wednesday, February 20, 2019 – Page A6
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ROME -- A Vatican conference on sexual abuse will test the credibility of Pope Francis this week as abuse victims gather in Rome to call for zero tolerance for clerics who molest or rape children and escape jail time.  FULL STORY arrow
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The strange divide among Montreal companies space
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By ERIC REGULY
Saturday, February 16, 2019 – Page B4
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-- This is a tale of two cites, both named Montreal.The first Montreal is full of well-regarded companies that are typically steady performers and occasionally stock market gems. They are generally not prone to corporate loutishness, even if they make mistakes and can be annoying now and again.  FULL STORY arrow
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Choreographer of This is America uses her celebrity status to step up efforts for rural youth worldwide space
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By ERIC REGULY
Friday, February 15, 2019 – Page A1
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ROME -- Sherrie Silver has had a big week - really big.On Sunday at the Staples Center in Los Angeles, This Is America, the dark, violent but equally high-spirited hit song and video performed by Childish Gambino - real name Donald Glover - won four Grammy Awards. Ms. Silver, a 24-yearold Rwandan dance phenomenon, was the video's choreographer. She was thanked onstage by Childish Gambino's collaborators - he did not attend - and made a splash at the post-Grammy parties.  FULL STORY arrow
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Italy's finances could clobber Europe's banks space
Outrageous levels of Italian sovereign debt, much of it held by local and other European lenders, would be a nightmare for the EU
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By ERIC REGULY
Saturday, February 9, 2019 – Page B4
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ROME -- Italy's populist government has failed its first big economic test.The two ruling coalition parties - the League and the Five Star Movement - promised a desperately needed economic revival after they formed a government last June. Instead, they delivered a recession.  FULL STORY arrow
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Deutsche Bank's restructuring hasn't paid off space
Its future remains highly uncertain, especially as the German and other European economies quickly lose momentum
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By ERIC REGULY
Saturday, February 2, 2019 – Page B4
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ROME -- Deutsche Bank's role was to befit its status as the top bank in Europe's top economy. It was supposed to be the Mercedes-Benz of German lenders - well-built, dependable, respected, competitive, internationally famous, the flag-bearer for mighty Corporate Germany. It was to be the prime financier of the country's export-oriented economy, while holding its own among the Wall Street giants.  FULL STORY arrow
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Italy's plunge into recession threatens rest of euro zone space
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By ERIC REGULY
Friday, February 1, 2019 – Page B1
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ROME -- Italy is back in recession, its third since the 2008 financial crisis, and the rest of Europe is slowing down, too, as Brexit, the gilets jaunes protests in France and the global tariff wars put pressure on the economy.  FULL STORY arrow
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A more unified Europe isn't materializing space
Nearly three years after U.K. voted to leave bloc, there have yet to be any substantive moves toward EU integration
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By ERIC REGULY
Thursday, January 31, 2019 – Page A6
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ROME -- Britain's vote in mid-2016 to leave the European Union did not trigger spasms of existential angst within the EU. Yes, the loss of the EU's second-biggest economy would come as a blow to the EU, but not a fatal one. The optimists on the warmer side of the English Channel even found a silver lining.  FULL STORY arrow
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Bombardier faces pressure as the EU mulls Siemens-Alstom train merger space
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By ERIC REGULY
Saturday, January 26, 2019 – Page B4
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ROME -- The world's most effective and feared antitrust cop, Margrethe Vestager, is not going quietly into the night. The European Union's Competition Commissioner has some momentous decisions ahead of her before she steps down later this year. One of them could reshape the entire train industry, where Canada's Bombardier is one of the biggest players.  FULL STORY arrow
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These days, a ticket to Davos carries a hefty cost - stigma space
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By ERIC REGULY
Wednesday, January 23, 2019 – Page B4
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ROME -- On Tuesday, as they have every year since 1971, the world's richest and most influential industrialists, bankers, oligarchs, tech kings, politicians and economists gathered in Davos, Switzerland, for the five-day World Economic Forum (WEF). They say they are part of the solution, not the problem, to some of the world's greatest ailments.  FULL STORY arrow
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This week's Santander moment changes nothing in the world of lavish bankers' pay space
Cancelled appointment is merely a blip in a time of record-setting executive remuneration
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By ERIC REGULY
Saturday, January 19, 2019 – Page B4
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ROME -- The Santander moment might have you believe the banking world has changed, that outrageous pay for bankers with the mental makeup of a Las Vegas card shark is finally becoming a relic of the decadent past. Populism has hit the pay world - thank you Bernie Sanders, Alexandria Ocasio-Cortez, Jeremy Corbyn and the other headline-grabbing socialists who equate overpaid bankers with broken, late-stage capitalism and the greediest bankers with the end of civilization, Rome in the fourth century.  FULL STORY arrow
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Brexit alone won't kill the EU, but rising right-wing nationalism could space
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By ERIC REGULY
Wednesday, January 16, 2019 – Page A9
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ROME -- Post-Brexit survival supplies in Britain known as ''Brexit boxes.'' Migrant rescue ships banned from Italian ports. France nearly crippled by endless gilets jaunes protests. The relentless rise of right-wing, Euroskeptic populist parties. Germany's main opposition party campaigning for a German version of Brexit.  FULL STORY arrow
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Another one bites the dust: Hollowing out of corporate sector continues space
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By ERIC REGULY
Tuesday, January 15, 2019 – Page B1
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-- Toronto's Barrick Gold always wanted to team up with Newmont Mining of Colorado. Merging the two giants, which have adjoining operations in gold-rich Nevada, would have created an unassailable industry leader and reduced costs by an estimated US$1-billion a year. On paper, it looked like a dream deal. But it never got off the ground, in good part because Barrick founder Peter Munk wanted the new company to stay in Toronto, not move to Denver.  FULL STORY arrow
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Carlos Ghosn is out but leaves a fine legacy space
Nissan's executives tamper with the alliance he created at their risk as the global car sector heads toward rocky road
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By ERIC REGULY
Saturday, January 12, 2019 – Page B4
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ROME -- Carlos Ghosn's appearance this week in Tokyo District Court, his first since he was arrested in mid-November and tossed into jail with no opportunity for bail, was the hottest ticket in town. Some 1,100 people, an army of reporters among them, had lined up to enter a lottery for the courtroom's 14 gallery seats.  FULL STORY arrow
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Europe's automakers face bumpy road ahead space
The car industry, already amid upheaval, must soon grapple with Britain's exit from EU
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By ERIC REGULY
Friday, January 11, 2019 – Page B4
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ROME -- The easy times are over for the European automakers.They had groped their way out of the hole created by the 2008 financial crisis and now they're slipping back into it again as the global auto industry faces its greatest upheaval in decades.  FULL STORY arrow
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Barrick's gutting did not have to be this way space
What was once the world's biggest gold miner will probably thrive under its new CEO - just no longer as a Canadian company
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By ERIC REGULY
Saturday, January 5, 2019 – Page B3
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ROME -- Before I moved to Europe in 2007, I spent almost a decade in Toronto writing about the eradication of Corporate Canada. Most big companies I followed - Inco, Falconbridge, Alcan, Dofasco, Molson, Fairmont, Four Seasons, among others - were flogged to foreigners, their head offices downgraded to branch plants or eliminated.  FULL STORY arrow
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Turmoil, tension and Trump: My business, economic predictions for 2019 space
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By ERIC REGULY
Monday, December 31, 2018 – Page B1
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-- It's that time of year again. Herewith are my economic and business predictions for 2019. Making them was harder than usual, given the headline-a-minute turmoil of 2018 - thank you, Donald Trump - that is bound to continue in 2019.  FULL STORY arrow
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The tragedy of Canada's 'Little Stalingrad' space
Largely forgotten today, victory at the Italian port city of Ortona came at a high cost for Canadian troops in the Second World War
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By ERIC REGULY, SHAWN MCCARTHY
Thursday, December 27, 2018 – Page A19
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ROME OTTAWA -- ''Everything before Ortona was a fairy tale.''- Major-General Christopher Vokes, commander of the 1st Canadian Infantry Division in Italy, 1943The Canadian war monument in the heart of Ortona, the Italian city on the Adriatic coast, does not paint a picture of glory. It depicts a Canadian infantryman on his knees comforting a fallen comrade who lies before him, dying. The monument, installed in Ortona in 1999 by the battle's Canadian veterans, is called the Price of Peace.  FULL STORY arrow
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An Americano in Italy space
Eric Reguly visits Starbucks' roastery in Milan and wonders whether the U.S. chain will sweep through the world capital of coffee or be relegated to curiosity status
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By ERIC REGULY
Wednesday, December 26, 2018 – Page B1
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-- For decades, it was a mark of pride among coffee-loving Italians that Starbucks, the American chain-store leviathan that served sugary, frothy concoctions disguised as coffee, had been unable to penetrate Italy. Italians could not stop McDonald's and Burger King from invading their country and ransacking their cuisine. But they could stop Starbucks.  FULL STORY arrow
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Megaprojects hosing taxpayers once again space
Britain's two big rail construction jobs have gone way over budget and, as with any situation involving major cost overruns, executives are taking home the loot
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By ERIC REGULY
Saturday, December 22, 2018 – Page B4
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ROME -- Megaprojects have a life of their own. Everyone knows they will go over budget, perhaps wildly so, yet governments keep pumping money into them as if they were too expensive to fail. They're the scandals that keep on giving, to the delight of journalists, opposition parties and lavishly paid consultants, but to the distress of taxpayers.  FULL STORY arrow
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An Italian town opened its doors to migrants, making its mayor a hero. A wave of right-wing populism pushed him into exile space
Giving shelter to refugees turned Riace into a beacon of tolerance and helped it ward off economic decline. But Italy's new government brought the experiment to an end, leaving residents fearful of what will happen next
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By ERIC REGULY
Monday, December 10, 2018 – Page A8
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RIACE, ITALY -- Before electricity arrived in 1949 in the southern Italian hillside town of Riace, which overlooks the Ionian Sea, the homes were lit with candles, producing a warm, welcoming glow as families ate dinner and children went to bed.  FULL STORY arrow
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France's protests reveal reality of carbon-reduction costs for the poor space
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By ERIC REGULY
Saturday, December 8, 2018 – Page B4
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ROME -- France's violent, mass gilets jaunes (yellow vests) protests, featuring torched cars and smashed shop windows on the Champs-Elysees, were highly effective. They persuaded French President Emmanuel Macron to suspend the launch of new taxes on gasoline and diesel. The taxes were not just a blatant money grab; they were part of France's efforts to try to meet the carbonreduction goals agreed at the 2015 Paris climate conference.  FULL STORY arrow
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Bitcoin's fall could just be getting started space
Environmental cost, volatile value and lack of backing from central banks are recipes for doom of cryptocurrencies
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By ERIC REGULY
Saturday, December 1, 2018 – Page B4
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-- One of my favourite horror sites is the Bitcoin Energy Consumption Index, published by digiconomist.net. If you care about the environment, avert your eyes because the data are unpleasant.  FULL STORY arrow
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ALMIGHTY BRUCE space
NEIL BRUCE TOOK SNC-LAVALIN FROM SCANDAL-RIDDEN TO WORLD CLASS. EVERYTHING WAS GOING GREAT--UNTIL A FEW MONTHS AGO. WILL THE COMPANY HE WORKED SO HARD TO REBUILD CRUMBLE?
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By ERIC REGULY
Friday, November 30, 2018 – Page P26
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-- BRUCE NEIL saw his luck run out at precisely 9:46 a.m., Ottawa time, on Aug. 2, when Foreign Affairs Minister Chrystia Freeland published her now-famous tweet about Saudi Arabia.  FULL STORY arrow
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Doublespeak space
How can Justin Trudeau reconcile fighting climate change and promoting massive new fossil fuel projects? He can't
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By ERIC REGULY
Friday, November 30, 2018 – Page P22
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-- In the climate change hypocrisy sweepstakes, it's hard to beat Prime Minister Justin Trudeau. But he sure talks a good game.Climate change is a clear and present danger, he says. Left unchecked, it will have dire consequences for the environment, the global economy and humanity itself. In late 2015, just before he enthusiastically endorsed the Paris climate change accord, Trudeau said: ''The atmosphere doesn't care where carbon is emitted. It requires us to take action all around the world.''  FULL STORY arrow
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What happened with Oshawa? It seems that Trump happened space
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By ERIC REGULY
Tuesday, November 27, 2018 – Page A11
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-- There was a time, not so long ago, when Canada's pitch to foreign corporations was compelling. Canada had public health care, all the better to bring down the cost of employment. Its dollar was cheap compared with the U.S. dollar. The work force was educated, the unions pleasingly weak and the industrial zones were smack next to the world's biggest market.  FULL STORY arrow
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Migrant rescue ship faces seizure space
Canadian charity worker says Italy's charges of illegal waste disposal are part of a 'smear campaign'
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By ERIC REGULY
Monday, November 26, 2018 – Page A6
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ROME -- The crew members of the Aquarius, a ship that has rescued nearly 30,000 migrants from the Mediterranean, await their fate as their vessel once again becomes a target of the anti-migrant Italian government.  FULL STORY arrow
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Why a second Brexit vote isn't the right call space
Another referendum would reinforce Britain's deep divisions, setting the stage for a psychological civil war
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By ERIC REGULY
Saturday, November 24, 2018 – Page B4
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ROME -- The Parti Quebecois held a sovereignty referendum in 1980 and lost. Quebec would stay part of Canada. Not happy with the result, the PQ government called another referendum, 15 years later, and lost again.  FULL STORY arrow
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Without Ghosn at the wheel, Nissan's alliance with Renault and Mitsubishi could be headed for a dead end space
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By ERIC REGULY
Tuesday, November 20, 2018 – Page B1
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ROME -- Global auto industry leaders are vanishing from sight, just when their companies need visionary bosses to avoid becoming roadkill as the electric and self-driving car revolutions hit.On Monday, Carlos Ghosn faced almost certain dismissal as chairman of Nissan after the auto giant accused him of ''significant'' financial misconduct, including allegedly understating his compensation for years. As the scandal unfolds, he may also lose his positions as CEO of France's Renault and chairman of Mitsubishi of Japan.  FULL STORY arrow
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Without Ghosn at the wheel, Nissan's alliance with Renault and Mitsubishi could be headed for a dead end space
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By ERIC REGULY
Tuesday, November 20, 2018 – Page B1
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ROME -- Global auto industry leaders are vanishing from sight, just when their companies need visionary bosses to avoid becoming roadkill as the electric and self-driving car revolutions hit.On Monday, Carlos Ghosn faced almost certain dismissal as chairman of Nissan after the auto giant accused him of ''significant'' financial misconduct, including allegedly understating his compensation for years. As the scandal unfolds, he may also lose his positions as CEO of France's Renault and chairman of Mitsubishi of Japan.  FULL STORY arrow
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Libya peace conference ends with little progress, but much disarray space
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By ERIC REGULY
Wednesday, November 14, 2018 – Page A1
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PALERMO, ITALY -- The Italian-sponsored Libya peace conference ended Tuesday in disorder as several key players in the effort to stabilize the shattered country either walked out of the final meetings or refused to participate in them.  FULL STORY arrow
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In Italy, a consensus on Libya proves elusive space
While leaders gathering in Palermo are united in their fear, they bring differing agendas to the stabilization effort
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By ERIC REGULY
Tuesday, November 13, 2018 – Page A3
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PALERMO, ITALY -- The army of European, North African and North American delegates at the Libya peace conference in Palermo represent countries with a jumble of parochial, and sometimes conflicting, interests on the Libyan file. But there is one issue that unites them all: fear that lack of Libyan stability will reinforce the broken country's status as a hotbed for terrorism and uncontrolled migration.  FULL STORY arrow
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Italian conference brings Libya's main players to the table space
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By ERIC REGULY
Monday, November 12, 2018 – Page A6
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ROME -- S even years after Moammar Gadhafi was hauled out of a drainage pipe in Sirte, his hometown in Libya, and killed by rebel militiamen, the concept of a reunified Libya remains just that - a concept. The Libyan desert expanse, the size of Alaska, remains deeply fragmented, lawless and violent as rival political groups and militias seek power and bounty.  FULL STORY arrow
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Trump's cherished wealth effect may soon be revealed as a mirage space
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By ERIC REGULY
Saturday, November 10, 2018 – Page B9
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ROME -- The Donald Trump-inspired wealth effect is working like a charm, in spite of the recent stock market wobble. The SandP 500 is up about 22 per cent since he stepped into the White House almost two years ago, unemployment is at record lows and wages are growing at their fastest pace in nine years. What's not to like?  FULL STORY arrow
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Merkel did not save the euro, she just bandaged it up space
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By ERIC REGULY
Saturday, November 3, 2018 – Page B4
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ROME -- On the day before the opening of the London Olympics in July, 2012, Mario Draghi, the newish president of the European Central Bank, popped into London to say a few words at the Global Investment Conference at Lancaster House. I was there, expecting him to say nothing important on the eve of the greatest sporting event the city had ever hosted.  FULL STORY arrow
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Centerra swats aside $2-billion bid from low-profile London firm space
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By NIALL MCGEE, ERIC REGULY
Thursday, November 1, 2018 – Page B1
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-- Centerra Gold Inc. says it didn't respond to a recent $2-billion takeover proposal by a littleknown London Stock Exchangelisted mining concern, citing doubts about the company's ability to complete such a deal.  FULL STORY arrow
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Loosening of Merkel's grip could open dangerous void in Europe space
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By ERIC REGULY
Tuesday, October 30, 2018 – Page A1
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ROME -- The end of the era of Angela Merkel, Europe's most durable and influential leader, moved a big step closer on Monday when she agreed to step down as chair of the Christian Democratic Union party. Her decision came after poor showings in two regional elections, and opens the door wide for a leadership competition as the centrist German parties fight to keep their relevance in a highly fragmented political landscape.  FULL STORY arrow
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One good quarter doesn't mean Tesla's safe space
Shareholders who have stuck with erratic CEO Elon Musk must be feeling vindicated, but the company's future is far from secure
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By ERIC REGULY
Saturday, October 27, 2018 – Page B4
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-- Tesla investors have had a maniacal obsession with the electric-car company since it rolled onto the stock market in 2010. Their endless faith in Tesla sent the shares soaring from the IPO price of US$17 to today's US$315, but one big factor was missing - sustained profit. There wasn't any, and Tesla's cash burn was horrendous. Eventually, the shortsellers - emboldened by chief executive Elon Musk's ever-erratic behaviour - piled into the shares, and the battle of wits between the lovers and the haters dominated the Tesla story.  FULL STORY arrow
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Investors will have the final say in Italy's 2019 budget space
Though the EU rejected the country's plan, the bloc cannot dictate a member's spending, but markets can, and will
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By ERIC REGULY
Wednesday, October 24, 2018 – Page B5
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ROME -- Italy's populist government and the European Union are at war.The European Commission, the EU's executive body, rejected Italy's proposed 2019 budget on Tuesday, arguing that it posed unacceptable risks to both Italy and the EU countries that use the euro. It was the first time the EU has sent a national budget back for a rewrite and it has set the stage for a bruising battle that neither side will win.  FULL STORY arrow
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SNC willing to reshape company if criminal trial affects share value space
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By ERIC REGULY
Tuesday, October 23, 2018 – Page B1
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ROME -- Montreal's SNC-Lavalin Group Inc., one of the world's top engineering and construction businesses, is willing to undergo a radical reshaping if the criminal trial it faces on corruption charges thrusts the company into years of legal limbo that damage shareholder value, the company's CEO, Neil Bruce, says.  FULL STORY arrow
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Saudi Arabia's economic overhaul was troubled before the grisly Khashoggi affair space
The country seems doomed to remain a fossil-fuel economy as the Crown Prince loses more credibility
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By ERIC REGULY
Saturday, October 20, 2018 – Page B4
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ROME -- Of all the CEOs who are boycotting the ''Davos in the Desert'' conference next week in Saudi Arabia, perhaps the most important no-show, if not the highest-profile one, will be David Schwimmer. You have probably never heard of him. He is the chief executive of the London Stock Exchange, which might seem to have little interest in Saudi Arabia. But it was the LSE that was widely thought to have the edge over New York in securing the initial public offering of Saudi Aramco, the world's largest oil company.  FULL STORY arrow
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For SNC, threat of Canada-Saudi rift looms over Mideast operations space
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By ERIC REGULY
Tuesday, October 16, 2018 – Page B1
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-- There is no Canadian company that fears a renewed diplomatic clash between Canada and Saudi Arabia more than SNC-Lavalin Group Inc., the Montreal engineering and construction giant that is one of the biggest foreign players in the Middle East.  FULL STORY arrow
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Friends, indeed space
China wants to be No. 1 in electric cars, so it needs copper and cobalt. Where does it find its most helpful suppliers and allies? On Canadian stock markets
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By ERIC REGULY
Tuesday, October 16, 2018 – Page P21
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-- Robert Friedland, the founder and executive co-chairman of Vancouver's Ivanhoe Mines, calls copper ''the new oil.'' By that, he means copper is essential to the new electrified, battery-powered economy in the same way oil, a century ago, was essential to the era of mass mobility. Copper's conductivity--its ability to transmit electricity--is superb. You cannot build a smartphone, an electrical grid or an electric car without copper, and lots of it.  FULL STORY arrow
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Even if carbon taxes are implemented, are electric cars really the best way to go? space
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By ERIC REGULY
Saturday, October 13, 2018 – Page B4
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-- A transportation revolution is in the making and bets worth hundreds of billions of dollars are being placed. Who might the winner be? Will it be the Tesla-style electric car, the Toyota-style hybrid or the hydrogen car? Will personal transportation of the Uber ilk, possibly in self-driving form, replace public transportation as we know it?  FULL STORY arrow
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Complete Index of Today's Print Headlines
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