Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– An annual report released today by four Canadian universities showed that a Canadian family of four is expected to pay C$700 more per year in groceries for a total of C$16,300 on average in 2024. In last year’s report, it estimated grocery prices would go up by five to seven per cent, with Statistics Canada later confirming that food prices went up 5.9 per cent over the past 12 months. Prices for meat, vegetables and bakery goods are expected to rise by five to seven per cent, while dairy and fruit will see the smallest increases at one to three per cent. However, the report suggested that projected lower rates of inflation will make things somewhat easier for consumers.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. The United…
– The federal government will announce later today its oil and gas emissions cap framework, which will implement a cap-and-trade system where companies will buy and trade a limited number of emissions permits and allowances. Companies that exceed their emissions caps will pay into a decarbonization fund.
– Canadian National Railway (CN Rail) announced on Wednesday it will acquire Iowa Northern Railway. The railway serves agricultural and industrial markets in the upper United States Midwest and operates 275 miles of track in Iowa connecting to CN’s U.S. rail network. The U.S. Surface Transportation Board will decide whether or not to approve the deal next year.
– McDonald’s announced in an investor update on Wednesday it plans to open nearly 10,000 new restaurants over the next four years, which would be a period of unprecedented growth for the fast food giant. At the start of the year, McDonald’s had 40,275 restaurants worldwide. The chain plans on opening 3,500 more restaurants in China, 1,900 more in international markets including Canada and 900 more in the U.S. alone.
