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Global Markets: UAW strike begins

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Published: September 15, 2023

By MarketsFarm

 

WINNIPEG, Sept. 15 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

 

  • The United Auto Workers (UAW) launched simultaneous strikes against Ford, General Motors and Stellantis (the parent company of Chrysler) on Friday, with about 13,000 workers walking off the job at targeted factories. The strike marks the first time in the history of the union that labour action was being taken against all Detroit Three automakers at the same time. Targeted work stoppages to “create confusion” are expected, rather than a full walkout, with the UAW asking for 40 per cent raises and improved benefits.
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  • The death toll in Libya has climbed above 11,000, with 10,000 still missing as search efforts continue after the North African country was hit by severe flooding caused by Storm Daniel earlier in the week.

 

  • Foreign investment in Canadian securities hit C$11.6 billion in Jully, while Canadian acquisitions of foreign securities fell to C$2.6 billion from C$14.4 billion the previous month, according to a report from Statistics Canada. As a result, Canada saw a net inflow of C$9.0 billion into the country’s economy in July.

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