Compiled by MarketsFarm
WINNIPEG, Sept. 19 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Tuesday that inflation in the country during August climbed to an annual rate of four per cent. That’s up from 3.3 per cent in July and meets economists’ projections. The hike was largely fueled by higher gasoline prices, which rose 4.6 per cent on a monthly basis due production cuts by major oil-producing countries.
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- Canadian Prime Minister Justin Trudeau accused the Indian government on Monday of possibly having a role in the June 18 murder of Hardeep Singh Nijjar in Surrey, British Columbia. A Canadian citizen, Nijjar was a Sikh separatist who the Indian government deemed to be a terrorist. Trudeau said Canadian security agencies have been investigating “credible allegations of a potential link,” while India denied the accusation. With Canada-India relations already at a low point, both countries expelled a top diplomat from the other.
- The United Auto Workers stated on Monday that it will increase strike action at more auto plants in the United States come Friday, if no serious progress is made in ongoing contract talks. Currently, UAW members are walking picket lines at one plant each for Ford, General Motors and Stellantis. Meanwhile in Canada, Unifor announced talks with Ford were extended another 24 hours after the company provided a “substantive offer.”
- Azerbaijan launched an attack into the Nagorno-Karabakh on Tuesday, restarting the war with Armenia. Azerbaijan claimed it was carrying out “anti-terrorist operations” and demanded the removal of all Armenian forces in the disputed territory. In turn, Armenia called on Russian peacekeeping forces to intervene. Azerbaijan and Armenia fought their most recent war over the Nagorno-Karabakh three years ago.
