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Diamond sets record

GENEVA—An exceptionally-large blue diamond sold yesterday for 48.6 million Swiss francs ($48.5 million)—a new record price for any jewel at auction, Sotheby’s said.

It culminated two Geneva auctions in which a convicted Hong Kong tycoon on both times bought a rare coloured diamond to honour his daughter.

Canada Day bash on the move

OTTAWA—Federal officials are on the hunt for a new location for the country’s marquee party for Canada Day celebrations.

A select group of companies were invited to bid on the project to find a new location near Parliament Hill for the federally-organized Canada Day bash once the Centre Block is closed in 2018 for a decade of badly-needed repairs.