Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Feb. 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Ford Canada said on Thursday that it will close an engine plant in Windsor, Ont. due to the blockade of the Ambassador Bridge. The self-proclaimed ‘Freedom Convoy’ has parked several dozen trucks on and around the critical link between Windsor and Detroit, which is now into its fourth day. Normally the bridge handles up a quarter of the daily cross-border traffic. Ford also said it will reduce production at an assembly plant.
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Global Markets: Inflation nudges up in Canada, the U.S.
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– The United States Bureau of Labor Statistics reported on Thursday that inflation climbed to 7.5 per cent in January, marking the highest level since 1982. The bureau stated that food, electricity and shelter were the biggest contributors in driving up the cost of living. Reports said pressure continued to build on the U.S. Federal Reserve to begin raising its key interest rate from historic lows as a means to tackle inflation.
– United Kingdom Foreign Secretary Liz Truss met with Russian Foreign Minister Sergei Lavrov on Thursday in Moscow. Truss pressed for a de-escalation of the border crisis between Russia and Ukraine. “I can’t see any other reason for having 100,000 troops stationed on the border, apart from to threaten Ukraine,” she stated. Meanwhile Lavrov retorted, “I’m honestly disappointed that what we have is a conversation between a dumb and a deaf person. Our most detailed explanations fell on unprepared soil.”
