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Canada lost 19,700 jobs in April, according to Statistics Canada, as full-time work climbed by a healthy 46,900 but the country shed 66,500 part-timers.

The unemployment rate held steady at 6.8 per cent.

Statistics Canada’s “trade” measure, which includes the retail sector, lost 21,000 positions, which observers linked to the hit from Target and Future Shop.

“The reported closure of several stores by a couple of major retailers likely had a negative impact on employment — which was captured by the 21,000 decline in the ‘trade’ category,” said National Bank senior economist Krishen Rangasamy.

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With speculation rife over how long Saudi Arabia is content to see oil prices slump, the country's oil minister told CNBC that only Allah knows where prices are heading.

Influential Saudi Oil Minister, Ali Al-Naimi, told CNBC Tuesday that "no one can set the price of oil - it's up to Allah." The remark comes amid widespread speculation over how long Saudi Arabia will maintain its decision not to cut production - a move that could support prices.

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At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.0 per cent, effective6 May 2015.

The Reserve Bank of Australia is widely tipped to cut interest rates for the second time this year when its board meets on Tuesday, despite signs that the economy is improving and its fears about further stoking Sydney's hot housing market.

Of the 27 economists recently polled by Bloomberg, 23 are forecasting a 25 basis point (or a quarter of a percentage point) cut to an all-time low of 2 per cent in the cash rate at the meeting.

ATHENS (Reuters) - Negotiations between Greece and its international lenders over reforms to unlock remaining bailout aid have made headway and an agreement could be closer this month, a government official said on Sunday.

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