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Global Markets: HBC reaches C$1 billion deal

By Commodity News Service Canada
Oct. 24 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Strong corporate earnings and a rise in hiring helped lift global stock markets. Fiat Chrysler, General Motors and McDonald’s were three major employers who enjoyed generally strong reports.

– The Hudson’s Bay Company has announced a sale of its Lord & Taylor’s store in New York. The company will continue to run the store but will transfer ownership of the building to WeWork. The deal is expected to be worth just over C$1 billion.

– Amazon says it received 238 different bids from communities hoping to host the company’s second headquarters. Of that total, 11 were from Canada.
The company’s second store is expected to generate 50,000 jobs and cost C$5 billion to construct.

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