Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– An American Airlines regional passenger jet flying from Wichita, Kan. and a United States Army Black Hawk helicopter collided midair on Wednesday near Reagan Washington National Airport. A total of 67 people, including Russian and American figure skaters and coaches, were on board the two aircrafts, none of whom are expected to survive. At least 28 bodies have been recovered from the Potomac River. U.S. Transportation Secretary Sean Duffy said in a press conference this morning that both aircraft were “on a normal approach” and the accident was “absolutely preventable.”
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– The U.S. Federal Reserve announced on Wednesday it kept its interest rates between 4.25 and 4.5 per cent, citing uncertainty over inflation and U.S. President Donald Trump’s trade plans. In its policy statement, the Fed noted that inflation remains elevated and the unemployment rate has “stabilized at a low level in recent months.” Earlier today, the Commerce Department reported that the economy grew 2.3 per cent in the fourth quarter of 2024, slightly less than expected. The economy also expanded 2.8 per cent throughout the calendar year.
– The Canadian Pacific Kansas City railway reported net income at US$1.2 billion for the fourth quarter of 2024, up from US$1.02 billion from last year. Grain revenues also rose 12 per cent year-over-year. CPKC CEO Keith Creel said despite aggressive rhetoric from the White House, a “pragmatic approach will carry the day” and expects “exceptional growth between (Canada, the U.S. and Mexico).”
