By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The International Monetary Fund stated on Tuesday the global economy is being jeopardized by ongoing attacks on commercial vessels in the Red Sea by Houthi rebels. The IMF projected 3.1 per cent growth in 2024, matching last year’s. However, all that could be undone as the economic costs of diverting cargo ships away from the Red Sea and the Suez Canal could lead to renewed inflation and mounting supply chain problems.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Completion of the Trans Mountain pipeline expansion has been delayed to the second quarter of this year, according to reports. Trans Mountain Corp. stated on Monday there were “technical issues” and refused comment further. The expansion is set to boost Canada’s sole West Coast pipeline’s capacity from 300,000 barrels per day to 890,000.
- Just as Toyota continued a mass recall of its vehicles, the company announced on Tuesday that it remains the top selling automaker in the world for a fourth consecutive year. With 11.2 million vehicles sold in 2023, Toyota said its sales grew 7.2 per cent. Also, company chair Akio Toyoda apologized for three scandals at Toyota and its subsidiaries Hino Motors and Daihatsu.
- As a result of the Russia-Ukraine war, United States foreign military sales hit a record US$238 billion in 2023. Poland alone accounted for at least 12.5 per cent of those purchases. Since Russia invaded Ukraine almost two years ago, fears of war have seen numerous countries around the world upgrading and expanding their militaries.
