WINNIPEG, July 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Tropical Storm Barry will put Louisiana’s post-Katrina flood defences to the test this weekend, in particular those of New Orleans. As of Friday, Barry was forecast to bring winds in excess of 80 km/h and rainfall of more than 60 millimeters. “There are three ways that Louisiana can flood: storm surge, high rivers and rain. We’re going to have all three,” Governor John Bel Edwards told the Associated Press. Currently, the storm is approximately 155 kilometers from the Louisiana coast.
– The rift between long-time NATO allies Turkey and the United States could become wider, as the latter has received its first deliveries of the Russian S-400 air defence missile system. Turkey signed a deal with the U.S. for 100 F-35 stealth fighters. The U.S. is worried Russian missile technicians will learn of the F-35’s vulnerabilities. Previously, the U.S. has threatened Turkey with economic sanctions if country acquired the Russian missiles.
– Bombardier has pointed its finger at the U.S. Buy America Act as the reason why the company is set lay-off half of the 1,100 people who work its Thunder Bay commuter rail car plant. Bombardier said the act provides U.S. cities with federal funding for mass transit vehicles made in the country. Bombardier said it will move more of its manufacturing to the U.S.