By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Unemployment in Canada rose to 6.6 per cent in August, up from 6.4 per cent in July, according to Statistics Canada on Friday. The increase came despite the economy adding 22,000 jobs last month. While there were more jobs in educational services, health care and social assistance, finance, insurance, real estate as well as rental and leasing, there were losses in professional, scientific and technical services, utilities and natural resources. The number of unemployed people in August reached 1.5 million.
Read Also
Global Markets: Trump ‘not focused’ on Canada trade deal
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- The United States Bureau of Labor Statistics reported on Friday that unemployment in the country dipped to 4.2 per cent in August from 4.3 per cent in July. However, the number of jobs created last month, 142,000, was under analysts’ expectations of 160,000 and well below the average monthly increase of 202,000 over the last 12 months.
- The Bunge-Viterra merger received a boost according to reports on Friday as Fitch Ratings raised Bunge Global SA’s credit rating. Bunge continued its efforts to complete its US$8.2 billion deal to acquire Viterra from Glencore Plc. While Bunge waits for approval from Canada, China and other countries, it received the green light from the European Union last month.
- Circle K’s bid to acquire its much larger rival 7-Eleven hit a snag on Friday when the latter’s parent company, Japan-based Seven & i Holdings, turned down Canada-based Alimentation Couche-Tard’s US$38.5 billion bid. Reports said Seven & i declined the offer, stating it was not in the best interests of shareholders and the deal would likely encounter antitrust issues with U.S. regulators. Couche-Tard had yet to issue a response.
