By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Canada saw no economic growth in November, Statistics Canada reported on Friday. In October, Canada’s economy dipped 0.3 per cent. StatCan said goods-producing industries slipped 0.3 per cent in November, while services-producing industries bumped up 0.1 per cent. The agency’s preliminary estimate for December called for 0.1 per cent growth.
- Canadian-made aircraft became one of the latest tariff target for United States President Donald Trump on Thursday. Trump threatened to slap 50 per cent levies on such aircraft and decertify Bombardier’s Global Express business jets. The president is angry that Canada has not certified similar aircraft built by Gulfstream in the U.S. Reports said Trump lacks the authority to decertify aircraft. Of the 5,200 Global aircraft built by Bombardier, more than half operate in the U.S.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. Crude oil prices…
- President Trump also turned his attention to Cuba, threatening to impose tariffs on any country that sells oil to the Caribbean island country. The move is reportedly targeted at Mexico, which supplies its oil to Cuba. The Cuban government accused Trump of “blackmail and coercion.”
- On Friday, President Trump named Kevin Warsh as his nominee to become the next chair of the U.S. Federal Reserve. Warsh would succeed current Fed chair Jerome Powell, who’s term is up in May. During Trump’s second term, he has been at loggerheads with Powell, who he appointed in his first term. The president has repeatedly attempted to erode the independence of the Fed.
- Tensions between Iran and the U.S. remained high on Friday, with Iran threatening quick retaliation on U.S. bases and aircraft carriers, should President Trump order strikes on Iranian targets. Ongoing protests in Iran against its authoritarian regime and the U.S. pushing for a nuclear deal with Iran have been the sources of growing concerns over U.S. military action.
