Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– The two-month GST/HST holiday on some goods put in place by the Canadian government begins on Saturday. For an item to qualify for the discount, it must be paid for in full and delivered during the two-month period. Items will be considered delivered if one is taken from a supplier to a shipping service or is put in the mail. The parliamentary budget officer said the tax break could cost the federal government C$1.46 billion as well as C$1.26 billion for provinces using HST.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Russia launched one of its largest attacks against Ukraine on Friday, firing 93 missiles and 200 drones at fuel and energy facilities. The strike was in retaliation to Ukraine using United States-made Army Tactical Missiles on a Russian airbase on Wednesday. DTEK, Ukraine’s largest private energy company, said the attack severely damaged its thermal power plants.
– Newfoundland and Labrador and Quebec reached a new tentative deal on Thursday over power flowing from the Churchill Falls hydroelectric plant. Both provinces, as well as the Innu Nation, signed a memorandum of understanding for a new agreement which replaces the one signed in 1969 and continues development towards a new facility on Gull Island. Under the revised deal, Newfoundland and Labrador will receive 5.9 cents per kilowatt-hour generated by the plant, compared to only 0.2 cents/kWh in the old deal. Both provinces expect to make hundreds of billions of dollars over the next five decades.
