Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Canada will contribute C$5 billion to assist in Ukraine’s fight against Russia as part of a plan with other G7 leaders. The United States has proposed using the interest on 200 billion euros in frozen assets to secure a U.S. bank loan worth US$50 billion. Prime Minister Justin Trudeau pitched the use of frozen assets to help Ukraine in a conference call with other G7 leaders in February. The Royal Canadian Mounted Police (RCMP) said it has seized C$140 million in Russian assets since February 2022. Trudeau will meet with Ukrainian President Volodymyr Zelenskyy later today.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. Union Pacific…
– The Canadian Department of National Defence (DND) confirmed on Wednesday the Canadian Armed Forces will track the movements of a fleet of Russian warships that arrived in Cuba on the same day. A DND spokesperson said it is part of routine operations in support of continental defence. A Royal Canadian Air Force (RCAF) CP-140 Aurora aircraft and HMCS Ville de Quebec will be part of the mission. The Russian flotilla includes a nuclear-powered submarine, an oil tanker and a rescue tug, which will all take part in military exercises in the Caribbean in the coming days.
– Pembina Pipeline Corp. will make its final investment decision on the proposed Cedar LNG floating gas-export project in B.C. within two weeks, according to sources. Pembina as well as Haisla First Nation are expected to contribute 20 per cent each in equity to the US$4 billion project with the rest funded by debt. There is also a five-year term loan worth US$1.09 billion for a pipeline connecting the Cedar terminal to the Shell-led Kitimat project nearby. At least 15 banks will help finance the project.
– Corus Entertainment announced layoffs at Global News on Wednesday with 25 positions cut in Western Canada as well as others in the Ottawa news bureau. An internal memo to Global News employees said the cuts were “designed to prepare our news division for more economic pressure.” Last week, Corus announced its programming arrangements with Warner Bros. Discovery (WBD) would not be renewed at the end of this year. On Monday, Rogers Communications Inc. announced it signed deals with WBD and NBCUniversal for their brands including HGTV, The Food Network and others.
