Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– The first step towards ending the longest United States government shutdown were taken by the Senate, as it passed a motion on Sunday to create legislation to fund the government and to hold a vote on Affordable Care Act credits. The motion passed 60-40 as a group of moderate Democrats joined forces with Republicans. However, the agreement does not guarantee the credits will be extended, as most Democrats had wanted. The agreement also reverses the mass firings of federal workers by the Trump administration since Oct. 1 and ensures they will receive back pay. It is unknown when the House will vote to end the shutdown.
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Global Markets: Canadian unemployment rate at 6.9 per cent
Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. Now at 6.9…
– Flights across the U.S. were cancelled for the fourth straight day on Monday, in compliance with the Federal Aviation Administration order to reduce flights by four per cent as some air traffic controllers stop coming to work. Flight cancellations totaled at least 1,500 on Saturday, more than 2,900 on Sunday, nearly 1,600 on Monday and almost 1,000 for Tuesday. However, a snowstorm in the Midwest further disrupted air travel. U.S. Transportation Secretary Sean Duffy told Fox News on Sunday that 20 per cent of flights may need to be cancelled if the federal government shutdown continues.
– Bunge announced the sale of five grain elevators to local companies in the Prairies on Friday. Direct Grain Ltd. will operate the elevator in Dixon, Sask., Linear Grain Inc. bought the Fannystelle, Man. facility and BP & Sons Grain and Storage Inc. purchased elevators in Manitoba at Beausejour, Tucker and Coulter. A sixth sale of the elevator in Valparaiso, Sask. is awaiting approval from the federal transport minister. The selloff was a part of Bunge’s merger with Viterra, which was approved earlier this year.
