By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- United States President-elect Donald Trump stated on social media Monday that his administration, on its first day, will slap a 25 per cent tariff on all imported goods from Canada and Mexico. Trump accused both countries of being lax on border security, blaming them for the large influx of migrants and illegal drugs into the U.S. Reports said the tariffs could push the Canadian economy into a recession.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Ahead of the Israeli cabinet’s decision on a 60-day ceasefire deal with Hezbollah on Tuesday, Israeli forces launched an airstrike on the Lebanese capital of Beirut. An Israeli Defence Forces spokesperson said the attacks included Hezbollah’s financial system, command infrastructure and weapons storage. The IDF invaded Lebanon about two months ago.
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- The Adani Group scandal continued to grow on Tuesday as the Indian conglomerate faces a series of repercussions. The scandal broke after U.S. authorities recently accused founder Gautam Adani of being part of a US$265 million bribery scheme. It’s believed Adani stock losses now exceed US$34 billion, as ratings firm lower their outlooks on the group’s various corporations.
- The possibility of another railway strike in Canada cropped up on Monday when mechanics and clerks at Canadian National Railway voted more than 96 per cent in favour of walking off the job as early as Jan. 1. Unifor said the approximately 3,600 members are seeking improvements to job security, compensation and working conditions. Negotiations between the company and the union resumed Monday and are set to end Dec. 8.
