By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Amazon announced on Wednesday it will close seven Quebec facilities in the coming weeks putting more than 1,700 people out of work. Those include locations in Montreal, Coteau-du-Lac, and Laval, citing cost savings in switching to third-party delivery. The decision came after 200 workers at Laval recently unionized.
- Statistics Canada reported on Wednesday that the country’s Industrial Product Price Index increased by an annualized rate of 4.1 per cent in December, and up 0.2 per cent from November. Also, StatCan said the Raw Materials Price Index grew 9.1 per cent from December to December, and 1.3 per cent from November.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- There were more tariff threats from United States President Donald Trump, who said on Tuesday his administration would impose tariffs on the European Union, alleging the EU has a large trade surplus with the U.S. As well, Trump said he could add a 10 per cent punitive duty on imports from China, claiming fentanyl is being sent from there to the U.S. through Canada and Mexico.
- The United Kingdom government incurred a larger-than-expect budget deficit in December, according to the Office of National Statistics on Wednesday. The ONS pegged it at 17.8 billion pounds compared to the 14.1 billion pounds estimated by economists.
