Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Workers at the Canadian Border Services Agency (CBSA) voted 96 per cent in favour of strike action, according to a statement released by the Public Service Alliance of Canada (PSAC) earlier today. The union warned that a strike during the summer months would cause “significant disruptions” to the flow of goods, services and people through Canadian ports of entry. Mediation to resolve the work stoppage is expected to start on June 3.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. United States…
– Statistics Canada released an unofficial advance estimate on Friday saying Canadian retail sales increased 0.7 per cent in April, which would be the fastest pace since November. Retail sales were down 0.2 per cent in March, as well as in the first quarter. In March, the decline was led by reduced sales of furniture as well as electronics and appliances. Core retail sales, which exclude gas stations and car dealers, were down 0.6 per cent in March.
– Canada’s Competition Bureau launched investigations into Loblaw Cos. Ltd. and Empire Co. Ltd., the parent companies of Loblaws and Sobeys, respectively, on March 1 according to court documents. Both companies are being investigated over their uses of property controls which the bureau believes limits retail grocery competition. In a separate court application, Empire claimed that the probe showed “the appearance of a lack of independence” by deputy commissioner Anthony Durocher and further claimed the company does not have a “dominant” market position.
– The Canadian Food Inspection Agency said that all 303 samples of retail milk collected at stores across the country all tested negative for H5N1 avian flu as of May 16. The virus spread to numerous dairy cow operations in the United States last spring. However, there is no concern over the safety of the commercial milk supply due to pasteurization.
