Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– The Canadian government’s inquiry into foreign interference in the country’s elections will be released by Commissioner Marie-Josee Hogue later today. An initial report released in May stated that while foreign meddling did not determine the governing party in the 2019 and 2021 federal elections, a small number of ridings could have been affected. Last fall, Prime Minister Justin Trudeau said he had the names of Conservative MPs who were involved in foreign interference, with Tory leader Pierre Poilievre calling him a liar in response.
Read Also
Global Markets: Chevron secures major win
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Hearings by the industrial inquiry commission to examine Canada Post’s financial situation, business model and workplace practices began in Ottawa on Monday. The Canadian Union of Postal Workers accused the debt-stricken Crown corporation of financial mismanagement and its bosses of wanting to weaken the union’s position. However, Canada Post blamed an inflexible staff and regulations preventing it from providing all-day parcel service. Negotiations on a new agreement between the two parties had broken down again earlier this month.
– Canadian farm goods store chain Peavey Mart announced on Monday it was closing all 90 of its stores as well as six MainStreet Hardware stores run by the company. The Red Deer, Alta.-based company asked for an initial order of creditor protection from the Court of King’s Bench in Alberta. In a statement, the company blamed a lack of consumer confidence, inflation and rising operating costs among other factors for the closure. Peavey Mart was founded in Winnipeg as National Farmway under ownership by the Minneapolis-based Peavey Company in 1967 and started operating with its current name in 1974. The chain has been fully Canadian owned and operated since 1984.
– The Canadian National Railway said it reached a new tentative deal with its 750 signals and communications workers on Tuesday, hours before hitting the picket line. The current collective agreement between CN Rail and the International Brotherhood of Electrical Workers expired at the end of 2024, but both parties reached a new four-year deal. The union asked for greater pay and an improved work-life balance.
– General Motors posted its fourth-quarter results and its 2025 earnings forecast on Tuesday, with the latter surpassing Wall Street expectations. The company projected net income between US$11.2 billion and US$12.5 billion this year, slightly above the US$10.8 billion calculated by the London Stock Exchange group. GM anticipates a modest decline in gas-powered vehicle volume, narrowed losses with battery-powered vehicles and a reorganization of its business in China. However, the projections don’t include the potential impacts of tariffs and cuts to electrical vehicle incentives.
