In a surprising capitulation to Nick Xenophon, the Coalition agrees to provide Australian businesses an advantage in competing for taxpayer-funded initiatives in a deal that clears the way in which for the ABCC laws to cross. Personal Investor: New U.S. president, usual retirement crisis. Personal Investor: Bankruptcy cloud hangs over holiday spending season. Canadian lenders face massive losses if housing market turns, bank watchdog warns. Royal Bank to hike mounted mortgage rates as bond market tumbles.\n\nCanadian Western Bank This autumn profit falls 9.7% as low commodity prices weigh. RBC shares fall as bank cuts key target after profit disappoints. Scotiabank profit tops $2B as credit loss provisions dip. How a ‘Trump-driven’ run-up in rates may gain advantage Canada’s banks.\n\nFormer Amaya CEO David Baazov says Hong Kong traders to fund bid for firm. Oil prices steady at US$50 per barrel after surging on OPEC output deal. Saudi Arabia takes ‘massive hit’ as OPEC cuts output for first time in 8 years. Still room for Vitality East after latest pipeline approvals: Natural Sources Minister.\n\nFewer Canadian oil and gasoline firms to go bust over next 12 months, M&A consultants say. Bank of England steps up cyber security exams for banks after Tesco theft. Facebook reportedly builds censorship software to re-enter China after 7-12 months ban. HP Enterprise’s profit forecast misses estimates, sending shares lower.\n\nBank of Canada’s Poloz says it’s too soon to consider Trump win. U.S. economic system grew at 3.2% in third quarter, fastest pace in 2 years. Black Friday retail, advertising, and cross-border purchasing developments. Mexico official says labour reforms may improve NAFTA, migration fears.
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