Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Canadian Prime Minister Justin Trudeau is scheduled to speak to the country on Wednesday regarding the Omicron variant. In recent days the number of reported cases of Omicron have spiked in several provinces, with those jurisdictions moving to stricter lockdown measures. At 11 am Central, Trudeau will be joined by Chief Public Health Officer Dr. Theresa Tam, Deputy Chief Public Health Officer Dr. Howard Njoo and a number of cabinet ministers.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– About 1,400 workers at Kellogg’s plants in Michigan, Nebraska, Pennsylvania and Tennessee ratified an agreement on Tuesday to return to work after a two and a half month long strike. In the five-year deal, workers will receive an immediate US$1.10 per hour raise, further pay increases, a cost-of-living allowance and preserve health care benefits. However, Kellogg’s will keep its controversial two-tier pay scale in which new employees are paid less and receive fewer benefits.
– Sri Lanka announced on Wednesday that it will repay its US$251 million debt to Iran for crude oil by sending the latter US$5 million worth of tea each month. Sri Lanka has been caught up in a severe debt and foreign exchange crisis, further struggling due to the COVID-19 pandemic. “The recommended scheme will save Sri Lanka much needed foreign currency since the settlement to Iran would be made in Sri Lankan rupees through the sale of Ceylon Tea,” said a Plantation Ministry statement. The deal is believed to be the first time tea has been used bartered to settle a foreign debt.
