The following is a glance at the news moving markets in Canada and globally.
There is concern from exporters in Canada that business could be affected by the ongoing Huawei drama. Professionals in the agriculture, lumber, banking and luxury goods industries are concerned their business dealings with China could fall victim in retaliation. China imported C$21.8 billion in Canadian products last year, more than half of that was agricultural products.
Apple Inc. has announced it will invest US$1 billion to expand operations in Austin, Texas. Further facilities will also be established in Culver City, Seattle and San Diego. Existing sites in Pittsburgh and Boulder will be expanded over the next three years. The company also said it will be considering other United States regions for growth. The announcement comes as many U.S. tech companies are expanding U.S. operations to appease U.S. President Donald Trump’s “America First” policies.
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