WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Thousands of workers at B.C. ports are going back to the picket line on Wednesday after failing to ratify a tentative deal reached through federal mediation. More than 7,400 members from the International Longshore and Warehouse Union (ILWU) walked off the job on July 1, but had reached an agreement with the British Columbia Maritime Employers Association on July 13 through a federal mediator. Federal Labour Minister Seamus O’Regan and Transport Minister Omar Alghabra said in a statement that they are “looking at all options.”
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– Former United States Secretary of State and national security advisor Henry Kissinger made a surprise visit to Beijing on Tuesday in an attempt to improve relations between the U.S. and China. The 100-year-old met with Chinese Defence Minister Li Shangfu before having a discussion with diplomat Wang Yi. Kissinger helped improve U.S.-China relations in the 1970s. The White House said that Kissinger is not acting on behalf of the U.S. government.
– Canada Mortgage and Housing Corporation (CMHC) reported on Tuesday that the seasonally-adjusted annual rate of housing starts was 281,373 units in June, up 81,355 from the month before for the largest month-by-month increase in a decade. The rate of multi-unit urban starts rose 59 per cent to 219,914, while the rate of starts for single-detached urban homes increased three per cent to 42,901. Toronto and Vancouver comprised of 47 per cent of total starts.
