Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– Saskatchewan Premier Scott Moe will join Canadian Prime Minister Mark Carney for a few engagements during the latter’s five-day visit to China, which began Tuesday. A news release from the province said the visit will build and strengthen diplomatic and economic ties, while emphasizing “trade, investment and long-term engagement.” Moe was already on vacation in Vietnam when he received the invite from Carney, considering the former’s visit to China last year. Saskatchewan is Canada’s largest producer of canola, which has been subjected to tariffs by China since last year.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – Canadian…
– Central bank chiefs from around the world showed their support for United States Federal Reserve chair Jerome Powell on Monday, after the U.S. Justice Department threatened him with a criminal indictment. Over the weekend, Powell said he was threatened by the department over testimony he made to Congress last summer regarding the cost of renovations to the Fed’s headquarters. Powell called the threat a pretext towards presidential influence over interest rates. Bank of Canada chair Tiff Macklem, as well as the heads of the European Central Bank and those of central banks in eight other countries released a joint statement saying Powell acted with integrity.
– Algoma Steel is expecting losses between C$95 million to C$105 million in the fourth quarter of 2025, which was within the Canadian company’s projections as the U.S. continues to impose 50 per cent tariffs on steel imports. Last month, Algoma issued 1,000 layoff notices for job cuts going into effect in March. The company will begin its Electric Arc Furnace project, which will focus on meeting domestic demand and is aligned with Canada’s national interest, said Algoma CEO Rajat Marwah.
