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EU, China Signal Support to Complete Long-Sought Investment Deal – Yahoo Canada Finance

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Yukon RCMP still trying to solve mystery of body found in Dawson City area in the ’80s

Did you live in or around Dawson City in the early ’80s? And do you remember a man suddenly going missing, or rumours about a murder? If so, the Yukon RCMP’s historical case unit wants to hear from you. A man whose remains were found buried in the North Fork area, about 40 kilometres east of Dawson City, just off the Dempster Highway, in 1983 remains unidentified — and officials say they believe foul play was involved in his death. Const. Michael Simpson, a historical case unit investigator who took over the file in July, said the case has never been closed and that he’s been “actively looking at it and pursuing a number of leads” after getting some “compelling” information over the summer. However, due to the amount of time that’s passed, the investigation has been “challenging.> ‘There is a family out there —  a possible wife, children, parents —  who never have known what happened to their loved one.’ – Const. Michael Simpson”The 40 years has made it difficult to go back in time … I’ve been doing a lot of cold-calling, reaching out to people, trying to find people from that area to help me,” he said. “It’s a lot of, you’re in the dark quite a bit and you’re trying to find your way through it sometimes.” According to a national database of missing people and unidentified human remains, the man was discovered “buried several metres from a road by a woodland brush” on May 21, 1983.He was a white male estimated to have been between 22 to 40 years old with brown, wavy hair, standing five feet nine inches tall and weighing 165 pounds. He had visible gold teeth and “hairy legs,” according to the database, and was found wearing white cotton socks with red and blue bands, underwear and dark blue jeans. No photo or sketch of him are available. Despite the age of the case, Simpson said finding answers about who the man was and what happened to him is still important. “There is a family out there —  a possible wife, children, parents —  who never have known what happened to their loved one and I think that’s the first and foremost reason identifying this person, because someone out there is missing that person and we would like to determine who he is,” he said. “And then the second part is … we deemed this (death) suspicious, a homicide. There’s somebody out there who knows what happened to him and I think figuring that out is imperative.” Simpson asked anyone with information related to the case, no matter how minor they think it is, to contact the Yukon RCMP’s historical case unit at 867-667-5500 or mdiv_hcu@rcmp-grc.gc.ca. Information can also be provided at local RCMP detachments.

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More China coal investments overseas cancelled than commissioned since 2017

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More China-invested overseas coal-fired power capacity was cancelled than commissioned since 2017, research showed on Wednesday, highlighting the obstacles facing the industry as countries work to reduce carbon emissions.

The Centre for Research on Energy and Clean Air (CREA) said that the amount of capacity shelved or cancelled since 2017 was 4.5 times higher than the amount that went into construction over the period.

Coal-fired power is one of the biggest sources of climate-warming carbon dioxide emissions, and the wave of cancellations also reflects rising concerns about the sector’s long-term economic competitiveness.

Since 2016, the top 10 banks involved in global coal financing were all Chinese, and around 12% of all coal plants operating outside of China can be linked to Chinese banks, utilities, equipment manufacturers and construction firms, CREA said.

But although 80 gigawatts of China-backed capacity is still in the pipeline, many of the projects could face further setbacks as public opposition rises and financing becomes more difficult, it added.

China is currently drawing up policies that it says will allow it to bring greenhouse gas emissions to a peak by 2030 and to become carbon-neutral by 2060.

But it was responsible for more than half the world’s coal-fired power generation last year, and it will not start to cut coal consumption until 2026, President Xi Jinping said in April.

Environmental groups have called on China to stop financing coal-fired power entirely and to use the funds to invest in cleaner forms of energy, and there are already signs that it is cutting back on coal investments both at home and abroad.

Following rule changes implemented by the central bank earlier this year, “clean coal” is no longer eligible for green financing.

Industrial and Commercial Bank of China, the world’s biggest bank by assets and a major source of global coal financing, is also drawing up a “road map” to pull out of the sector, its chief economist Zhou Yueqiu said at the end of May.

 

(Reporting by David Stanway; Editing by Kenneth Maxwell)

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Bank of Montreal CEO sees growth in U.S. share of earnings

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Bank of Montreal expects its earnings contribution from the U.S. to keep growing, even without any mergers and acquisitions, driven by a much smaller market share than at home and nearly C$1 trillion ($823.38 billion) of assets, Chief Executive Officer Darryl White said on Monday.

“We do think we have plenty of scale,” and the ability to compete with both banks of similar as well as smaller size, White said at a Morgan Stanley conference, adding that the bank’s U.S. market share is between 1% and 5% based on the business line, versus 10% to 35% in Canada. “And we do it off the scale of our global balance sheet of C$950 billion.”

($1 = 1.2145 Canadian dollars)

 

(Reporting by Nichola Saminather; Editing by Leslie Adler)

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GameStop falls 27% on potential share sale

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Shares of GameStop Corp lost more than a quarter of their value on Thursday and other so-called meme stocks also declined in a sell-off that hit a broad range of names favored by retail investors.

The video game retailer’s shares closed down 27.16% at $220.39, their biggest one-day percentage loss in 11 weeks. The drop came a day after GameStop said in a quarterly report that it may sell up to 5 million new shares, sparking concerns of potential dilution for existing shareholders.

“The threat of dilution from the five million-share sale is the dagger in the hearts of GameStop shareholders,” said Jake Dollarhide, chief executive officer of Longbow Asset Management. “The meme trade is not working today, so logic for at least one day has returned.”

Soaring rallies in the shares of GameStop and AMC Entertainment Holdings over the past month have helped reinvigorate the meme stock frenzy that began earlier this year and fueled big moves in a fresh crop of names popular with investors on forums such as Reddit’s WallStreetBets.

Many of those names traded lower on Thursday, with shares of Clover Health Investments Corp down 15.2%, burger chain Wendy’s falling 3.1% and prison operator Geo Group Inc, one of the more recently minted meme stocks, down nearly 20% after surging more than 38% on Wednesday. AMC shares were off more than 13%.

Worries that other companies could leverage recent stock price gains by announcing share sales may be rippling out to the broader meme stock universe, said Jack Ablin, chief investment officer at Cresset Capital.

AMC last week took advantage of a 400% surge in its share price since mid-May to announce a pair of stock offerings.

“It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run-up,” Ablin said. “Investors are taking a dim view of that strategy.”

Wedbush Securities on Thursday raised its price target on GameStop to $50, from $39. GameStop will likely sell all 5 million new shares but that amount only represents a “modest” dilution of 7%, Wedbush analysts wrote.

GameStop on Wednesday reported stronger-than-expected earnings, and named the former head of Amazon.com Inc’s Australian business as its chief executive officer.

GameStop’s shares rallied more than 1,600% in January when a surge of buying forced bearish investors to unwind their bets in a phenomenon known as a short squeeze.

The company on Wednesday said the U.S. Securities and Exchange Commission had requested documents and information related to an investigation into that trading.

In the past two weeks, the so-called “meme stocks” have received $1.27 billion of retail inflows, Vanda Research said on Wednesday, matching their January peak.

 

(Reporting by Aaron Saldanha and Sagarika Jaisinghani in Bengaluru and Sinead Carew in New York; Additional reporting by Ira Iosebashvili; Editing by Sriraj Kalluvila, Shounak Dasgupta, Jonathan Oatis and Nick Zieminski)

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