Compiled by MarketsFarm
WINNIPEG, July 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- After negotiations stalled on Monday, the strike at 30 British Columbia ports entered its fourth day on Tuesday with approximately 7,400 workers off the job. The B.C. Maritime Employers Association and the International Longshore and Warehouse Union Canada said they reached a stalemate after bargaining through the Canada Day long weekend. The employers accused the union of being unreasonable, while the union charged the employers changed their position at the last moment. Also, the employers called on the federal government to impose a new deal, while the union warned the feds needed to stay out of the labour dispute.
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- Russia accused Ukraine of launching a drone strike on Moscow on Tuesday, claiming five drones were shot down or had their signals jammed. Russia, which has launched thousands of drones and missiles at Ukraine, called Tuesday’s drone attack on its capital city an act of terrorism. Ukraine has yet to comment on the latest accusation. While no one was reportedly injured or killed in the alleged drone attack, Moscow’s Vnukovo airport was closed for several hours.
- Meta announced on Tuesday that it’s set to go head-to-head with Twitter with its new Threads app. Meta, the parent company of Facebook, said it will launch Threads on Thursday and the new app will be linked to Instagram. Indications have pointed to Threads being free of charge, unlike Twitter’s move to put some of its services behind a paywall.
- As the United States marks its 247th Independence Day on Tuesday, its trade war with China ramped up. On Monday, China announced it will further control metals widely used in the semiconductor industry as of August 1. In retaliation, the U.S., as well as the Netherlands, said they will restrict exports of chipmaking equipment.
