Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– A Norwegian-owned vessel for British Petroleum (BP) was attacked in the Red Sea on Monday by Houthi rebels in Yemen. The M/V Swan Atlantic was attacked by multiple projectiles which hit the ship’s water tank, but no one was injured and the vessel’s systems were in normal operation. The ship was carrying vegetable oils on its way to Reunion Island, a French overseas territory in the Indian Ocean.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. The United…
– Egyptian President Abdel Fattah el-Sissi was elected to a third, six-year term in office on Monday, receiving 89.6 per cent of the vote. He ran against three opponents with Hazem Omar of the Republican People’s Party receiving the second-most votes with 4.5 per cent. Turnout was nearly 67 per cent from more than 67 million voters. el-Sissi’s victory was in spite of the ongoing Israel-Hamas conflict which has caused refugees to enter the country, as well as monthly inflation rising above 30 per cent.
– Statistics Canada (StatCan) reported on Friday that wholesale sales, excluding petroleum, oilseeds and grains, declined 0.5 per cent in October to C$81.7 billion. The machinery, equipment and supplies subsector had the biggest loss with 1.6 per cent at C$17.7 billion. Five out of seven subsectors tracked by StatCan saw declines.
– Rogers Sugar Inc. has paused negotiations with striking workers on Friday after they rejected the company’s latest offer to end the strike which started on Sept. 28. The issues discussed were wages, benefits and Rogers’ plans to increase refinery operations to 24 hours per day, seven days per week all year long. While there have been intermittent sugar shortages in Western Canada, the company said there is enough white sugar in the market and brown sugar production has restarted.
