Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada (StatCan) reported on Friday that the country’s gross domestic product expanded by 0.1 per cent in November, according to preliminary data. While manufacturing and agricultural sectors grew during the month, retail trade declined. StatCan also reported that the economy was unchanged in October. If the economy neither grows nor contracts in December, it will grow at an annualized rate of 0.5 per cent in December, lower than the Bank of Canada’s forecast of 0.8 per cent.
Read Also
Global Markets: U.S. reaches trade deal with Europe
Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. The United…
– A gunman killed 14 people and injured 25 others at Charles University in Prague on Thursday, the worst mass shooting in the Czech Republic’s history. The shooter was a 24-year-old male former student at the university, who had posted online that he wanted to carry out a school shooting just like another incident in Russia. His father was also found dead earlier in the day and the perpetrator was also suspected of killing another man and his two-month-old daughter earlier this month. The Czech government declared Saturday as a national day of mourning.
– Canadian Finance Minister Chrystia Freeland approved Royal Bank of Canada’s (RBC) C$13.5 billion takeover of HSBC Canada on Friday, despite calls from opposition parties and other groups who claimed it reduced competition. The Competition Bureau approved the deal in September. As part of the deal, RBC will not fire HSBC Canada’s staff within six months of the closing date and banking services will continue to be provided in 33 HSBC branches over the next four years. Canada’s six major banks will control 95 per cent of the country’s banking assets after the takeover is completed.
