By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The Organization for Economic Co-operation and Development announced on Monday it has reduced its economic growth forecast, pointing to the tariff policies of United States President Donald Trump. Globally, the OECD estimated economic expansion is to slow from 3.2 per cent last year to 3.1 per cent in 2025 and three per cent in 2026. For Canada, the OECD cut its 2025 forecast to 0.7 per cent growth from two per cent. The association of the world’s 38 largest national economies also said global inflation will increase over the next two years.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- As President Trump continues in efforts to resolve Russia’s invasion of Ukraine, he is scheduled to meet with Russian President Vladimir Putin on Tuesday. Trump will seek Putin’s agreement to the same 30-day ceasefire that Ukrainian President Volodymyr Zelenskyy accepted last week. Meanwhile, France and the United Kingdom said they’re willing to send peacekeeping forces to Ukraine, but Putin nixed the idea until the war is over.
- Hudson’s Bay Company, one of the oldest North American businesses, said on Monday it’s seeking court approval to begin liquidating as it’s unable to secure financing. Reports said HBC is looking to close half of its 80 Bay stores as it faced with nearly C$1 billion of debt. HBC also operates three Saks Fifth Avenue and 13 Saks Off 5th locations in Canada. Originally founded in 1670 as a fur trader, the retailer currently employs about 9,000 people.
- Canadian Prime Minister Mark Carney started a diplomatic tour on Monday, during which he will meet with French President Emmanuel Macron, King Charles III and U.K. Prime Minister Keir Starmer. On his fourth day as Canada’s PM, Carney is seeking to bolster support from the U.K. and France in light of U.S. President Trump’s trade and foreign policies.
