Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– The United States Federal Reserve is expected to keep its key interest rates unchanged when it makes its policy rate announcement on Wednesday. Many economists expect the U.S. to wait until June before deciding to cut its rates due to continued strength in the country’s economy. Others believe the Fed will cut its rates two or three times this year.
– China’s Sinochem Group has purchased one of the first crude oil cargoes to come off the Trans Mountain Expansion pipeline in May or June, according to a report from Bloomberg News. The cargo from Suncor Energy Inc. contains 550,000 barrels of heavy crude and will move from Alberta to B.C.’s West Coast. The pipeline was slated to start in 2017 but was hampered by numerous delays. The federal government bought Kinder Morgan Inc. in 2018 to save the project from cancellation.
Read Also
Global Markets: Carney meets with U.S. senators, premiers
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
– At least eight people are dead after a South Korean chemical tanker capsized off the coast of Mutsure Island in southwest Japan on Wednesday. The tanker, named the Keoyoung Sun, was carrying 980 tons of acrylic acid. One crew member was found alive in Indonesia, while two others were missing. No leak has been detected, but environmental protection measures may be upcoming.
– Irish Prime Minister Leo Varadkar announced on Wednesday he will step down, adding there was “no real reason” for the move, surprising many. Varadkar, leader of the Fine Gael party as well as the three-party governing coalition, will be replaced by a new leader to be chosen on April 6. In 2017, Varadkar became the youngest Taioseach in the country’s history and the first openly gay person to hold the office. He was re-elected in 2022.
