By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Oil production in Alberta jumped 8.8 per cent in November at 4.2 million barrels per day, according to the Alberta Energy regulator on Tuesday. The increase was in preparation of the Trans Mountain pipeline expansion, which is currently 98 per cent complete. With the expansion the line’s capacity will nearly double from its current 300,000 BPD.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- China announced its gross domestic product grew by 5.2 per cent in 2023, beating out expectations of five per cent, however there are signs the country’s economy remains shaky, according to reports on Wednesday. Analysts pointed to China’s worsening property crisis, deflationary risks, weak demand and a population in decline. At nearly US$18 trillion dollars, China has the world’s second largest economy.
- The United States Supreme Court issued a ruling on Tuesday that could diminish Apple’s hold on its iPhone app store along with billions of dollars in revenue streams. Currently, Apple charges commissions of 15 to 30 per cent on app developers seeking to access iPhones, but the company said it would cut is rates to 12 to 27 per cent. The court said app developers should be allowed to insert links to other payment options other than within iPhone apps.
- Pakistan warned Iran of possible retaliation after the latter launched missile strikes into the former’s territory on Tuesday. Iran stated it carried out “precision missile and drone strikes” on two strongholds of the Sunni Muslim militant group Jaish al-Adl. Pakistan iterated the attacks were an “unprovoked violation of its airspace.”
