Strong November…Fed: Uncertainty…Canada stimulus

Biz/Tech

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the pace of improvement in the economy has moderated in recent months with future prospects remaining “extraordinarily uncertain.” In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases both in the United States and abroad was “concerning and could prove challenging for the next few months.”

UNDATED (AP) — Canadian Prime Minister ’s government is vowing to spend $25 billion Canadian in new spending to help the country recover from the pandemic. Deputy Prime Minister and Finance Minister Chrystia Freeland says the country is facing its most severe challenge since the second World War, the worst economic shock since the Great Depression and the worse health crisis since the Spanish flu over a century ago.

FRANKFURT, Germany (AP) — Leaders of the OPEC cartel have adjourned their meeting on future oil production. A brief statement from the oil cartel’s headquarters said the talks ended and there was no announcement on whether to prolong previously agreed upon production cuts. Deliberations are to continue Tuesday, when non-OPEC countries like Russia will join the talks.

MINNEAPOLIS (AP) —Minnesota regulators have approved the final permit for Enbridge Energy’s Line 3 crude oil pipeline replacement across northern Minnesota. The decision gives the company the green light to begin construction on the $2.6 billion project. The Minnesota Pollution Control Agency on Monday granted a construction storm water permit. It was the last hurdle that Calgary, Alberta-based Enbridge needed to clear.

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