By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Thursday that manufacturing sales in January bumped up 0.2 per cent from December at C$71.1 billion. There were increases in 11 of the 21 subsectors tracked, with transportation equipment leading the way with a 4.3 per cent increase, followed by chemicals at 3.5 per cent. On the downside, StatCan said the largest decline came in the aerospace and parts industry group, which fell 16.7 per cent.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Former United States Treasury Secretary Steven Mnuchin was one of the first people to come forward with an offer to acquire TikTok. In leading a group of investors, Mnuchin made the announcement on Thursday, the day after the U.S. House of Representatives easily passed a bill that could ban the social media app. The TikTok legislation moves to the U.S. Senate, where it’s expected to pass, and President Joe Biden already promised to sign the bill into law. It’s believed TikTok’s owners ByteDance allow the Chinese government to access the information collected. Ahead of Mnuchin in making a pitch last evening to buy TikTok was Canadian entrepreneur Kevin O’Leary.
- A report on Thursday said social media platform Reddit is seeking a target valuation of up to US$6.4 billion when it issues its initial public offering on the New York Stock Exchange. Reddit is currently owned by a few of its executives and a number of companies. In Canada, Reddit is the fourth most popular website, behind Facebook, YouTube and Google.
