Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Thursday that retail sales increased one per cent at C$70.4 billion in August. StatCan attributed the bump up to gains in the auto sector. Sales at motor vehicle and parts dealers were up 1.8 per cent, while sales at new and used car dealers were 2.3 per cent and 1.5 per cent higher, respectively. StatCan also delivered a preliminary estimate for September, expecting retail sales to drop 0.7 per cent.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – Russia…
– The United States imposed new sanctions against Russian oil companies on Wednesday, in an attempt to persuade Russia to return to peace talks. The sanctions were put upon Russia’s two largest oil companies, the state-owned Rosneft and the privately-owned Lukoil, following the lead of the United Kingdom which sanctioned both companies last week. Trump also said he has cancelled a planned meeting between him and Russian President Vladimir Putin in Budapest. The European Union imposed its own sanctions on Thursday, targeting Russian oil and gas, its fleet of tankers and its financial system.
– The Chamber of Marine Commerce is pressing Ottawa to allow international shipping containers in smaller ports by having customs clearance on the docks. The industry group wants to see customs facilities on six ports along the St. Lawrence Seaway and the Great Lakes, saying they would improve shipping efficiency, cut truck congestion and reduce reliance on the U.S. The group also said the additional traffic would generate C$132 million per year.
– The Canada Industrial Relations Board dismissed an argument from the Canadian Union of Postal Workers on Thursday, which claimed the federal government’s back-to-work order in December was unconstitutional. The CUPW said the order violated workers’ Charter rights to free expression, free association and life, liberty and security of the person. The three-person board said the right to strike was essential, but not absolute. CUPW has filed for judicial review.
