Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada (StatCan) reported on Thursday that Canada’s economy contracted by 0.3 per cent in the third quarter, while also shrinking 1.1 per cent on an annualized basis. StatCan also revised its Q2 figures, which now states that the economy grew by 0.3 per cent rather than a decline as previously reported. The data agency said decreases in international exports and slower inventory accumulation by businesses were offset by increases in government spending and housing investment. Consumer spending was also flat for the second straight quarter.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. Union Pacific…
– The federal government announced on Wednesday that it has reached an agreement with Google, which will see the online giant continue to share Canadian news in exchange for annual payments to news companies at around C$100 million. Earlier this year, both Google and Meta, the parent company of Facebook and Instagram, said they would pull Canadian news stories off their platforms after the passing of the Online News Act or Bill C-18, which will be enacted in mid-December. Meta still plans on prohibiting Canadian news as long as the bill remains in law.
– Israel and Hamas agreed to a last-minute extension of their ceasefire to a seventh day on Thursday. Israel said it received a list from Hamas of those who would be freed, calling off plans to resume fighting. The conditions of the truce will remain the same, which includes the entry of humanitarian aid.
– Henry Kissinger, the polarizing foreign policy advisor who served under former United States presidents Richard Nixon and Gerald Ford, died at the age of 100 on Wednesday. Kissinger was a major figure in helping the U.S. establish diplomatic relations with China, improving ties between Israel and Arab nations and advancing arms control talks with the Soviet Union. However, he was also reviled as a supporter of anti-communist dictatorships in Latin America and was considered responsible for secret bombings over Cambodia from 1969 to 1973. Kissinger was controversially awarded the Nobel Peace Prize in 1973 and visited Chinese president Xi Jinping earlier this year.
