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Global Markets: Canada’s economy grew at the fastest pace in a year

WINNIPEG, July 31, 2018 (CNS) – The following is a glance
at the news moving markets in Canada and globally.
Canada’s economy grew at the fastest pace in a year,
due to gains in the price of crude oil, according to new
data from Statistics Canada. Gross domestic product rose by
0.5 per cent in May. Nineteen of 20 industries posted gains
in May, including retail sales which rose by two per cent.
WestJet Airlines Ltd. reported a loss of C$20.8
million in second quarter. During the quarter WestJet faced

a labour dispute with its pilots, higher fuel prices and
increased competition. The loss amounted to 18 cents per
share, which was better than analyst estimates, but still;
way down from last year’s profit of C$48.6 million or 41
cents per share.
The Manulife Financial insurance company has teamed up
with Shoppers Drug Mart to launch the first medical
marijuana program in Canada this fall. The option would be
available for participating group and individual health
insurance plans. Under the partnership, Shoppers Drug Mart
pharmacists in Ontario, will help approved customers find
and buy the right strains of medical marijuana.

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