By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The Consumer Price Index in the United States climbed 0.2 per cent in October and rose 2.6 per cent from the previous October, the Bureau of Labor Statistics reported on Wednesday. The increase in inflation was propelled by housing-related costs and energy prices turned flat ending their decreases. Analysts said they believe the report will likely lead the U.S. Federal Reserve to continue cutting its key interest rates.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Just as the Canadian government ordered TikTok to close its two Canadian offices, reports on Wednesday said it will still be allowed to advertise on the social media platform. The Canadian Security Intelligence Service suggested TikTok, which is owned by a Chinese company, poses a national security risk. Since then the government banned TikTok from all of its devices.
- S. President-Elect Donald Trump continued to fill out key positions for his incoming administration on Tuesday. Trump appointed Elon Musk and former Republican presidential candidate Vivek Ramaswamy to co-lead the new Department of Government Efficiency. Unlike other departments, the DOGE will operate outside the government, thereby avoiding Senate approval for the appointments allowing Musk to maintain his business interests in Tesla, Space-X and social media platform X.
- The Canadian government imposed binding arbitration on Tuesday to end the lockouts at the Ports of Vancouver, Quebec and Montreal. As well, port workers will return to their jobs as soon as possible. Until the Canada Industrial Relations Board can work out new agreements with unions and employers at the three ports, the previous deals will remain in place.
