Compiled by MarketsFarm
WINNIPEG, May 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- The remaining federal employees who were still on strike reached a tentative deal on Thursday. The approximately 35,000 members of the Public Service Alliance of Canada (PSAC) who work for the Canada Revenue Agency (CRA) agreed to return to work later this morning. They will soon vote on a bargaining agreement that includes wages that closes the gap with inflation, better defines remote work, and limits contracting out. On Monday, 120,000 PSAC members ended their strike when they agreed to similar terms.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- In citing regulatory uncertainty in the United States, the TD Bank Group ended its takeover of First Horizon Corp. The deal’s end sent stocks in the Tennessee-based bank tumbling 50 per cent on Thursday. The US$13.4 billion takeover was already on thin ice when TD said it was highly unlikely the deal would receive approval from federal banking officials. As well, the failure of three U.S. banks in about two months further strained the proposed acquisition.
- The U.S. Federal Reserve met analysts’ expectations when the central bank upped its key interest rates by 25 basis points on Wednesday. The Fed raised its rates to five and 5.25 per cent – their highest levels since 2007. The Fed also hinted will be freeze rates for the time being after 10 consecutive hikes.
- The day after Russia accused Ukraine of attempting to assassinate President Vladimir Putin, it launched one of its heaviest aerial bombardments of Kyiv. Thursday’s attack marked the third time in four days the Ukrainian capital city was attacked with missiles and drones. However, there were no reports of causalities or deaths from Ukrainian officials at this time.
