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Global Markets: Facebook halts its news access in Australia

PM says Facebook being 'arrogant'

By MarketsFarm

WINNIPEG, Feb. 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Facebook blocked access to local, national and international news in Australia on its social media platform on Thursday. It’s part of Facebook’s response to a proposed law that would require tech giants to pay for news content. Additionally, numerous government health and emergency pages were blocked, to which Facebook acknowledged as a mistake. Australia Prime Minister Scott Morrison said Facebook was being “arrogant.” Google had initially denounced the new law, but has since reached an agreement with News Corp to access its media content.

– Construction of the Trans Mountain pipeline extension resumed this week after safety concerns were alleviated. The move comes after the Keystone XL pipeline was cancelled last month. Unlike the Keystone, which was to carry crude oil from Alberta to refineries on the U.S. Gulf Coast, the multi-billion dollar Trans Mountain project is adding a third pipeline to carry Alberta oil to ports in British Columbia for export. About 7,500 people are to go back to work on the pipeline.

– More than 100 million people in the United States are under a winter storm warning or a winter weather advisory on Thursday, according to reports. A series of storms continues to batter the U.S. after an Arctic front plunged temperatures to lows rarely experienced in several parts of the country. Storm systems are approaching the U.S. eastern seaboard, bringing tornados in the south as well as snow and ice further north. An estimated one million people are still without electricity after the front knocked out power for an estimated five million. Nearly 40 deaths have been attributed to the storms, many due to carbon monoxide poisoning.

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