WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Canadian Pacific Railway (CP Rail) have served its 72-hour lockout notice to employees on Thursday, meaning if a settlement or an agreement to binding arbitration is not reached by March 20, workers will go on strike. Earlier this month, CP Rail employees voted 96 per cent in favour of strike action, according to the Teamsters Canada Rail Conference. In a statement, the company said it “has commenced its work stoppage contingency plan and will work closely with customers to achieve a smooth, efficient and safe wind-down of Canadian operations.” However, earlier this month, CP Rail warned of a “freight capacity crisis”.
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– Rescue workers are working tirelessly to free civilians from the rubble of a theatre in the Ukrainian city of Mariupol on Thursday after it was struck by a Russian missile. Airstrikes, artillery bombardment and gun fire also killed civilians in the northern city of Chernihiv on Thursday. Ukrainian President Volodymyr Zelensky told German lawmakers on Thursday that to Russians, “everything is a target for them” in Mariupol. Both Russia and Ukraine are set to resume peace talks on Thursday.
– New COVID-19 cases are starting to increase after more than a month of decline, the World Health Organization said on Wednesday, with dropping testing rates adding to concern. The weekly rate of new infections rose by eight per cent globally from March 7 to 13. South Korea and China have seen the highest increases, while officials are also warning of another wave in Europe.
