WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Michael Barton, Canada’s ambassador to China, is stepping down from his post effective Dec. 31, three months after securing the release of Michael Kovrig and Michael Spavor, Canadian citizens who were detained in China for three years. Barton was previously the chair of the finance minister’s advisory council on economic growth and was appointed as Canada’s ambassador to China in 2019. “Today, Michael Kovrig and Michael Spavor are back in Canada, and the government is better positioned to achieve its other diplomatic priorities with China,” he wrote in a statement.
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– The Trans Mountain pipeline was slated to restart on Sunday after a three-week shutdown due to heavy rainfall, mudslides and flooding in British Columbia last month. The restart was subject to approval by the Canada Energy Regulator, which said the pipeline had no indications of serious damage. Over the next few weeks, work will be done to “armour riverbanks” and add ground cover or relocation sections of the pipeline. Trans Mountain is the only pipeline in North America that carries both oil and refined products, and the shutdown has been the longest in its history.
– Employees at the Cargill meat-processing plant in High River, Alta. voted 71 per cent in favour of a new labour contract, averting a strike. The new six-year deal includes a 21 per cent wage increase, as well as C$4,200 in retroactive pay and more than C$6,000 in total bonuses for workers. The plant is responsible for 40 per cent of Canada’s beef supply and was temporarily shut down last year when half of its workers contracted COVID-19.
