Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump said on Wednesday his administration is considering a 25 per cent levy on imported lumber and forest products. If the new tariff is added onto current duties, Canadian softwood lumber would be subject to a levy totalling 50 to 55 per cent. The U.S. only meets 70 per cent of its homebuilding lumber needs domestically with most imports coming from Canada.
– Hamas returned the bodies of four Israeli hostages on Thursday under the Gaza Strip ceasefire agreement reached last month – three from the same family and two of them children. Hamas said in November 2023 three members of the Bibas family, a mother and two young boys, were killed in an Israeli airstrike but their deaths were never confirmed by Israeli authorities. Those three later became symbols of the war for Israelis. The boys’ father, Yarden Bibas, was released in an exchange of hostages and prisoners earlier this month.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– The Delta Air Lines plane that crashed on the runway at Toronto Pearson International Airport on Monday was removed from the tarmac earlier this morning after an investigation by the Transportation Safety Board of Canada. The flight from Minneapolis was landing when its right wing collapsed. Soon after, the plane flipped onto its back. In an update Wednesday morning, Delta Air Lines said 21 people were taken to hospital and 20 were released.
– Loblaw said on Thursday its fourth-quarter profit was down from the previous year at C$462 million, compared to C$541 million in the fourth quarter of 2023. Revenue for the quarter totalled C$14.9 billion, up C$400 million, as food retail same-stores sales rose by 2.5 per cent. The company also incurred a non-cash charge from its PC Optimum loyalty program due to higher member participation and higher redemption rates.
