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 Canada's main stock index opens higher
on Thursday, as the U.S. Federal Reserve signalled a likely
interest rate cut to counter growing risks to global and
domestic growth.
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Facebook's plans to launch its own cryptocurrency and digital wallet should be a clarion call to commercial banks: if you don't begin to explore blockchain technology, tech companies could eat your lunch.
[ Further reading: Blockchain: The complete guide ]
Worldwide, blockchain-derived business value is forecast to grow from $9 billion this year to $50 billion in 2022, according to Gartner. The greatest growth between now and 2050 is expected to take place in 2020, when Facebook plans to launch its Libra coin and Calibra digital wallet; that year alone will see a 128% annual increase in business value.
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 The number of people who applied for unemployment benefits in mid-June fell to a one-month low and clung near the lowest level in decades, a sign the labor market remains robust even after a slowdown in hiring and softer economic growth.
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 The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to underlying labor market strength despite a sharp slowdown in job growth in May.
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