WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The office of Canada’s Industry Minister Francois-Philippe Champagne announced on Sunday he will convene a meeting with the heads of the country’s major telecommunications firms to discuss the reliability of networks across Canada. On Friday, Rogers Communications’ nationwide wireless network was out for 15 hours, causing major disruptions to banking and 9-1-1 services. On Sunday afternoon, Rogers said its networks and systems were “close to fully operational” with most customers having their services restored. Meanwhile, the Public Interest Advocacy Centre filed a formal request to the Canadian Radio-television and Telecommunications Commission (CRTC) to hold an inquiry into the outage.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Economists have predicted the Bank of Canada (BoC) will raise its key interest rate by 0.75 of a point on Wednesday to 2.25 per cent. This would follow the lead of the United States Federal Reserve which raised its rate by that amount last month. “With the economy essentially at full employment, wages starting to stir meaningfully, and headline inflation poised to test eight per cent in this month’s consumer price index report, the Bank of Canada’s task is clear at next week’s decision,” wrote BMO chief economist Douglas Porter in a weekly report on Friday.
– Unifor’s strike deadline for Via Rail workers was extended to 3 p.m. CDT on Monday as negotiations continue between the two parties. Maintenance workers, on-board service personnel, chefs, sales agents and customer service staff, totalling 2,400 workers, were previously set to strike starting at 12:01 a.m. EDT on Monday. Both Via Rail and their employees are hashing out a new collective bargaining agreement which would improve job security.
