WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Russia intensified its efforts to bomb the Ukrainian port city of Mariupol on Monday after Ukraine defiantly refused an offer by the Russians to surrender in exchange for safe passage for the city’s residents. However, hours before Russia’s offer, an art school in Mariupol sheltering 400 residents was hit by missiles. Russian forces also attacked a shopping centre in Kyiv, a chemical plant in northeast Ukraine and a hit a military base in the western part of the country. United States President Joe Biden will speak to leaders from France, Germany, Italy and the United Kingdom on Monday before travelling to Brussels and Poland for in-person talks later this week.
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– The work stoppage affecting Canadian Pacific Railway (CP Rail) employees officially began on Sunday with the railway and the Teamsters Canada Rail Conference (TCRC) continuing to negotiate a new contract. CP Rail sent an offer to TCRC on Sunday, according to a spokesperson, but did not receive a response. Despite stating last week it would lock out employees on Sunday, CP Rail also denied it did so and called the work stoppage a unilateral strike. The House of Commons is scheduled to resume on Monday, which could bring legislation to end the work stoppage, although the Liberal government said it wants CP Rail and TCRC to work out a new deal.
– A China Eastern Boeing 737-800 airliner crashed in southern China on Monday carrying 132 people on board with no word on any survivors. The plane was travelling from the southwest province of Yunnan to the east coast city of Guangzhou when it crashed into a forested area near the city of Wuzhou. Chinese President Xi Jinping called for an “all-out” rescue operation and an investigation into the crash.
