Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– In the economic outlook released by Deloitte Canada on Thursday, it predicted the country’s economy will grow in the second half of 2024 following stagnant growth in the first half. The firm also forecasts interest rate cuts as early as this spring, but such are not expected to return to pre-pandemic lows. Deloitte added it is unlikely the Bank of Canada (BoC) will raise its key interest rate any further.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– Russian hackers found their way into the system of Ukrainian telecom giant Kyivstar last May, according to the cybersecurity head of Ukraine’s security service. Illia Vitiuk revealed in an interview on Thursday that the hack caused “disastrous” destruction and was used to gather intelligence. The hack also knocked out services for eight days starting on Dec. 12.
– Calgary-based energy company Suncor reported its second-highest quarter ever for oil output on Wednesday at 808,000 barrels per day (bpd), while reporting an annual average upstream production of 746,000 bpd. Suncor also recorded its best single month of production ever in December at 900,000 bpd.
– Extremely cold temperatures continued to wreak havoc in Nordic countries as wind and snow closed highways, knocked out power and caused evacuations. Electricity was cut to 4,000 homes in Sweden as temperatures in its Arctic region dropped to minus 38 degrees Celsius. In Finland’s Lapland region, -42.5 C was reported and meteorologists expect temperatures to go lower. Meanwhile, in Germany, France and the Netherlands, heavy rains have intensified flooding. The Netherlands government said it will send water pumps to affected regions of France.
