THE DAILY REPORT
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There are a couple of notable risk events for today Monday 12th November 2018. Please refer to economic calendar below.
Major Bloomberg & Reuters News
Fed Eyes Australia in Search for Holy Grail of Economic Growth
Federal Reserve officials are looking to Australia’s record run of economic growth for hope that a U.S. recession may not be inevitable.
But have policy makers Down Under really mastered the business cycle? While their economy has entered its 27th year of expansion, it’s been assisted by a commodities boom, the world’s biggest immigration program, a run up in household debt and a particularly stringent definition of what actually constitutes a recession.
Oil pucks and pellets; Canada eyes new ways to move stranded crude
Pipeline pressure has pushed more crude onto trains owned by Canadian National Railway Co and smaller rival Canadian Pacific Railway Limited. But crude movement by rail is costly and prone to spills and sometimes disastrous accidents, such as the 2013 derailment at Lac Megantic, Quebec that killed dozens of people.
Enter CN’s patented Canapux product, which is solidified crude encased in plastic, named to evoke the country’s most popular sport, hockey. The railroad argues that solid crude, never before commercially shipped in the world, can be transported more cheaply, efficiently and with less environmental risk than liquid crude in tank cars. Since it floats, Canapux is easier to recover from a spill into a water body.Interest from crude producers, buyers and transport companies picked up after a Canadian court in August overturned Ottawa’s approval for the Trans Mountain oil pipeline expansion, said James Cairns, CN’s vice-president of petroleum and chemicals.
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