WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Via Rail Canada and 2,400 of its employees have reached a tentative deal on a new collective bargaining agreement on Monday just ahead of a midnight deadline. The national passenger rail provider and members of Unifor Council 4000 and Local 100 agreed to a contract which will be retroactive from Jan. 1, 2022 and run until Dec. 31, 2024. Rail service will continue while the agreement is being ratified.
– Canada’s industry minister François-Philippe Champagne is urging the country’s major telecommunications firms to come up with a plan within 60 days to mitigate the effect of future service disruptions. On Friday, Rogers Communications Inc. suffered a nationwide outage to wireless services which affected banking and 9-1-1 services and lasted more than 24 hours for some customers. Rogers CEO Tony Staffieri blamed a network system failure following a maintenance update for the outage. Champagne also said the Canadian Radio-television and Telecommunications Commission (CRTC) will investigate the outage, although the independent body has not yet confirmed doing so.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Twitter’s stock price fell 11.6 per cent on Monday, the first day of trading since Tesla CEO Elon Musk said he was abandoning his US$44 billion dollar bid for the social media giant. Twitter has since responded by planning to sue Musk to uphold the agreement, possibly the start of a long court battle. Musk alleged on Friday that Twitter failed to provide enough information on the number of fake accounts on the platform, as well as having broken the acquisition agreement by laying off one-third of its talent acquisition team.
