WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Reports on Wednesday said the Canadian government will organize three charter flights from Poland carrying Ukrainians fleeing the war. The passenger planes will take off from Warsaw and arrive in Winnipeg (May 23), Montreal (May 29) and Halifax (June 2), according to a government official. It is estimated there would be as many as 300 people per flight.
– The United States’ consumer price index showed slow growth in May, rising by only 0.3 per cent in April, according to a report from the U.S. Labor Department on Wednesday. By comparison, April saw a 1.2 per cent gain, which was the largest increase since 2005. While the new report may suggest inflation has peaked, observers warn that inflation will stay elevated in the near future.
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– The Commissioner of Competition told Rogers Communications Inc. and Shaw Communications Inc. on Wednesday that selling off the latter’s discount cell phone service provider Freedom Mobile will not be enough to allow Rogers’ proposed C$26-billion takeover of Shaw. The deal, first announced in March 2021, would combine both telecommunications giants, amid worries it would reduce competition. The Canadian Radio-Television and Telecommunications Commission (CRTC) supports the deal, but it still needs approval from the Ministry of Innovation, Science and Economic Development.
– The United Nations will hold a news conference in The Netherlands on Wednesday asking countries to provide financial assistance to help remove the oil tanker FSO Safer from the Red Sea. Decaying off the western coast of Yemen, the UN warned it may start leaking more than a million barrels of crude oil, four times that of the Exxon Valdez disaster of 1989. The operation would cost US$144 million, much less than the estimated US$20 billion cost for cleanup.
