Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 25 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Senior officials from Rogers Communications will appear in front of a parliamentary committee in Ottawa on Monday, at 10 am CDT to explain the company’s massive loss of service on July 8. Besides the loss of services for Rogers’ customers, the wide-ranging extent of the malfunction included people unable to call 9-1-1, government services were inaccessible and debit payments were inoperable. Rogers previously said widespread outage was the result of a large-scale update that apparently went awry. On Sunday, Rogers sent a letter to customers informing them that the company is taking steps to prevent a similar outage and making plans with other carriers to maintain emergency services.
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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…
– Less than 24 hours after signing a deal to allow grain exports out of Ukraine, Russia launched cruise missiles at the port of Odessa on Saturday. Reports said grain terminals were not damaged in the strikes. A Kremlin spokesperson said the long-range cruise missiles were targeted a Ukrainian warship and a stockpile of anti-ship missiles at the port. Upwards to 25 million tonnes of grain are holed up in Ukraine, awaiting export. The Russian invasion has led to the country’s ports being captured or blockaded. The deal signed on July 22 stipulated there were to be no attacks on Ukrainian ports. Nevertheless, plans remain in place to export Ukrainian grain as early as this week.
– The Indian rupee has lost seven per cent of its value compared to the United States dollar so far in 2022, according to a report. While at 80 rupees to the dollar, the weaker currency has driven up the costs of imports, there appeared to be little, if any, panic in India. A businessperson said if the rupees falls to 85 to one, then that would be cause for some concern. Meanwhile, surging fuel prices in India has propelled inflation upwards.
