By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- A work stoppage at Canada’s two major railways is growing more likely as negotiations remain at an impasse a week out from the Aug. 22 lockout/strike deadline. Canada’s Federal labour minister Steven McKinnon rejected requests for binding arbitration between the Teamsters Canada Rail Conference representing 9,300 employees and the railways. Canadian Pacific Kansas City (CPKC) and Canadian National Railway (CN Rail) have already started slowing some rail movement ahead of a possible work stoppage.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Canadian investors increased their holdings of foreign securities by C$16.4 billion in June while foreign acquisitions of Canadian securities slowed to C$5.2 billion during the month, according to a report from Statistics Canada. As a result, Canada saw a net outflow of C$11.2 billion from the economy during the month, after two months of inflows.
- Thailand’s parliament elected a new prime minister on Friday just two days after the former prime minister was removed from his post by a court ruling on Wednesday. At 37, Paetongtarn Shinawatra becomes the country’s youngest-ever prime minister and second woman to hold the top job. The political newcomer is the daughter of billionaire and former prime minister Thaksin Shinawatra.
