Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Jan. 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- More than 4,000 airline flights in the United States were cancelled or delayed on Wednesday due to a widespread computer outage, according to the Federal Aviation Administration (FAA). While the FAA said it was making progress in rectifying the problem, as of 8 am CST the massive backlog of flights began to get back on track. While the exact cause of the computer outage had yet to be determined, a cyberattack has been ruled out.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- In an indicator of the looming global recession, Goldman Sachs said on Wednesday it has started laying-off approximately six per cent of its world-wide workforce. It’s estimated the investment bank currently employs more than 49,000 people, which includes 10,000 who came onboard during a hiring surge that began in December 2019. Goldman Sachs said it was looking at other spending cuts, with annual bonus payments already slashed by 40 per cent.
- Canadian Prime Minister Justin Trudeau committed about C$406 million on Tuesday to acquire from the U.S. a National Advanced Surface-to-Air Missile System which is to be given to Ukraine. Trudeau made the announcement during the second day of the North American Leaders’ Summit in Mexico City. The money will come from a C$500 million fund the federal government set up to assist Ukraine in its war against Russia. Minister of National Defence Anita Anand said Canada is working with the U.S. to get the air defence system to Ukraine as soon as possible.
