By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- A world-wide technology outage temporarily closed operations in thousands of McDonald’s outlets on Friday. Reports said online and app orders were halted until the problem was resolved. Stores were affected in the United States, Canada, Japan, Australia, throughout Europe and in many other countries. “We are aware of the technology outage, which impacted our restaurants; the issue is now being resolved,” said a statement from McDonald’s. “Notably the issue is not related to a cybersecurity event.”
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
- Statistics Canada reported on Friday that the country’s wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) in January increased by 0.1 per cent from December at C$82.4 billion. Sales were higher in three of the seven subsectors tracked, led by personal and household goods at 1.8 per cent as well as machinery, equipment and supplies at 1.4 per cent. The largest declines were felt in the building materials and supplies subsector, down 2.9 per cent.
- The People’s Bank of China announced on Friday that it froze its key policy rate at 2.5 per cent on one-year medium-term lending facility loans. The move was said to help curb the pressure the Chinese yuan has been feeling from a stronger United States dollar. As China’s government set economic growth at five per cent in 2024, the central bank remarked that means it needs to keep the yuan stable.
- Ukraine continued to keep up its missile and drone attacks on Russian oil facilities, according to reports. On Friday, that included the small Kaluga refinery near Moscow that produces 24,000 barrels of oil per day. Ukraine began the series of attacks last week to show it can reach targets deep inside Russia and with hopes of crippling its oil-dependent economy.
