Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
OTTAWA, Aug 30 (Reuters) - The Canadian economy expanded at a surprisingly strong annualized rate of 3.7% in the second quarter, a pace much higher than the Bank of Canada had predicted, thanks to a resurgence in goods exports, Statistics Canada data indicated on Friday.
The central bank, which in July had predicted second quarter growth of 2.3%, is set to release its next interest rate decision on Sept 4. Most analysts think the Bank of Canada will stay on the sidelines on Wednesday, the last rate decision expected before Canadians vote in a national election on Oct 21.
Analysts in a Reuters poll had predicted annualized second quarter growth of 3.0%.
On Friday, Statistics Canada revised its first quarter annualized GDP figure upwards to 0.5% from 0.4%. Canada's second quarter growth also outpaced that of the United States, its largest trading partner, which saw an increase of 2.0% in the same quarter, the agency added.
Statscan said exports of goods jumped 3.7% in the second quarter, on higher exports of energy, farm and fishing products, and non-metallic minerals. Exports of services rose 1.1%, maintaining the pace seen in the first quarter. Business investment declined 1.6%, while consumer spending slowed to 0.1%.
June's gross domestic product rose 0.2%, the same rate seen in May, marking the fourth consecutive month of increases, the national statistical agency said, because of higher growth in the service-producing industries.
(Reporting by Kelsey Johnson; Editing by Dale Smith and Chizu Nomiyama)