Global Markets: German airline strikes disrupt flights

By MarketsFarm

WINNIPEG, Feb. 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

• Strike action at seven German airports has led to thousands of flight cancellations and disruptions to an estimated 300,000 passengers. The workers are asking for higher wages and have threatened a ‘summer of chaos’ if their demands are not addressed. Meanwhile, a winter storm over the North Sea was disrupting ferry, train, and air movement across the Scandinavian countries.

• South Africa is set to conduct 10 days of naval drills with Russia and China, raising concerns among many nations as the exercises are seen as endorsement of Russia’s invasion of Ukraine. South African officials say they remain neutral on the conflict and noted that they regularly hold similar drills with other nations, including the United States.

• Canada’s Industrial Product Price Index was up by 0.4 per cent in January compared to the previous month, with annual growth of 5.4 per cent, according to a report from Statistics Canada. Meanwhile, the country’s Raw Materials Price Index was down by 0.1 per cent in January, but still up by 1.2 per cent on the year.

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